Jaggs, recession is only in tech?
What about the auto sector - GM laying off 10,000+, Chrysler laying off 30,000+, TRW laying off 40,000.
What about rail shipments - Trinity cutting back on making new rail cars, and word that shipments are way down.
What about Monkey Ward making 20,000+ available to the labor market, GE & Honeywell zapping something like 70,000?
Those wouldn't be recessionary type things now would they?
It's only a short matter of time until the strength remaining in the housing market goes away, Japan admits it's in full blown depression, the rest of Asia goes tits up, and Europe shows significant weakness. Also when California goes on more or less permanent rolling blackouts this summer their economy will crumble.
Gold? Don't know for sure, but the derivative issue is key here. I've got a tiny 3% in it, but it's profitable. Cash is beyond a doubt king.
Sharp |
