For the last couple of years I've been following these financial gurus (I hate using that term with these guys since they have been spot on about the economy unlike what we're heard on the boob tube). Invictus, Bondad and the not so technical Monkeyfister have given me a better insite into the markets than any financial cheerleaders from CNBC or even Bloomberg. While the TV talking heads were touting how we wouldn't see a recession or if we did it would be a mild and short lived event, my guys via Blah3 were telling us to find a mountain to hide under. While Cramer (Mr. pump and dump) was telling us to buy buy buy (insert your own sound effects) the Blah three guys were saying sell sell sell and find safer ground for your nest egg. So while those of the upper crust were loosing their life savings to clowns like Bernie Madeoff (I call him that because he sure did made off with the money) a bunch of us little guys have our funds stashed in safe places. That is unless the whole system goes down in which case we're all screwed.
With the above introduction Invictus (hat tip to him) gave the charts below for your consideration via the Fed:
Sad to report that things will not get better no matter what the cheerleaders of CNBC want you to believe. The firings will continue until like the bumblers that they are realize that they've shot themselves in the foot. That they have fired their own customer base and no one will be running to their doors to buy products they really don't need unless it's food. Even the wealthy are lowering themselves to poking their heads into WalMart.
So where does all this info leave the average guy? After reading most of the stimilus bill I'd say there"ll be a slight uptick in the economy by mid July followed by more bad news until spring of 2010 at the very earliest. But as anyone knows a lot can happen between now and then.
Until then keep your drums upright.