Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: THE ANT who wrote (75412)	2/29/2008 6:18:29 AM
From: SouthFloridaGuy	Read Replies (3) \| Respond to of 116555

The layoffs on the street have begun in earnest. This is the big one, I feel. Tens of thousands of workers were employed directly and indirectly working on products that will never exist again; my guess is 20% of Wall Street is 100% irrelevant. For the meantime, this will hurt badly. The only saving grace (for now) is the foreign appeal of NYC, especially for Europeans. When you take into account the dollar, real estate looks cheap here. But my personal opinion is that argument only holds so long as those economies are growing. They will contract too as will their real estate markets. I would also say that part of the appeal to NYC has been correlated to the robust job market. As that declines, I think NYC declines too. Nonetheless, the dollar helps. It's very depressing, really. I've told my wife to put her wedding and engagement bands (I'll let you guess on the size of the bling) and her 22k gold jewelery in the safe deposit box. Conspicuous consumption will be frowned upon. I also think crime will be more brazen such as people dressed up as policemen or electricians, etc. and coming to areas like mine. I'm thinking about buying a gun - even though I believe in banning guns it's 'Prisoners' Dilemma' at this point. The official bottom is 2010-11, IMO, but for many years it will feel like 'the bottom' if that makes sense...kind of like Detroit.