The recession: not over yet (duh)

I couldn't believe my ears on financial news stations this past week. "The recession is over" proclaimed one reporter. I can't recall exactly who made that knuckle-headed statement, but this particular guru of the financial markets, unfortunately wasn't the only one to state such nonsense. One sure fire way to know what the people are thinking is to just go to your local shopping center. Moods and spending habits are undoubtedly down; what better indicator is there? Every savvy investor knows that the market can act very irrationally at times; psychology most definitely affects the markets in a big way and should not be forgotten. As you've probably gathered by now, I am very bearish on the current market. I sure hope that I'm wrong.....

BBC NEWS | Business | Shares slump on US spending data

--P