Day after Groundhog Day
In case my “Groundhog Day” prediction from yesterday of more economic hardship to come was not enough of to convince you by itself, today we saw some extraordinary news reports. It seems that the idea of more declines is not just ours.
From the CNBC article, several economists are concerned about the future.
Peter Yastrow, market strategist for Yastrow Origer, told the network “What we’ve got right now is almost near panic going on with money managers and people who are responsible for money.”
Mark Mobius from Templeton Financial predicts that another financial crisis is just around the corner. “There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” Mobius said.