Ben Stein explains that while their are real problems, much of the current "crisis" has been overblown. Ben says "Simply put, the media and the short-sellers on Wall Street are trying to scare us into having a recession." He then goes on to point out facts and figures as to why things aren't so bad.
He's basically echoing what I have said in previous posts. I don't know if we'll have a recession in 2008, but I doubt it. Ironically, after all the recession talk of the past few months, the tide is starting to turn among the "experts" and now they are saying we might not have a recession.....just goes to show why the conventional wisdom is almost always wrong.
If you spend much time listening to CNBC and Jim Cramer, I urge you to make a New Years Resolution to turn the financial pornography on in 2008.
Scott Dauenhauer, CFP, MSFP, AIF