Gone Skiin'
I am taking off for Jackson Hole to do some heli-skiing.
Most people I have told this to look at me like I'm crazy. But I have been skiing since I was 4, and have gone heli-skiing before. So the helicopter rides, steep terrain, deep powder, avalanche warnings-- none of that phases me.
My biggest concern is if my tired legs can hack it anymore. When I was in my 20s, this wasn't even a consideration. So I have been working out, running the stairs in Santa Monica, etc. Let's hope it helps.
I doubt I will be making any blog posts today and tommorrow. Check back Sunday or Monday for an update.
posted by J. Kahn @ 7:14 AM
4 comments
4 Comments:
Market consolidation/consolidation of industry is what I see as a structural consequence of market decline and this market decline is closely related to the decline of the dollar. Seems that talk about the future scares more than the present, which is ironic in itself.
Have a great trip!
Goldman Sachs has predicted that if there's no recession, the housing market will probably fall by 15%. If there is a recession, Goldman thinks prices could fall by 30%. Current decline is 8.4%.
So, using Goldman's 15% estimated decline, 21% of people with mortgages will owe more money than their house is actually worth. If a recession develops -- which, seems likely and the market falls 30%, then nearly two of every five mortgages will be under water.
It's no secret what drove consumer spending in the last 6 or so years. I know Reagan said that deficits do not matter. But, someone else (bad with names here) said it was a grave sin. Let's see who will be proven right.
Hope you had fun on the ski trip... Welcome back :-)
Gaucho, if the Fed and Administration can reignite the economy, dollar should bottom for a while, imo.
Forex,
deficits definitely matter, but first we need to worry about the financial system. I think the action in FNM/FRE signal that the worst might be over for them as well. The Fed has their back.
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