Few can deny that 2009 was the year filled with rather doom and gloomy news. In fact, I believe the business world as well as Wall Street, along with most US citizens were happy to see 2009 to go. When all the news is good, investors and consumers should not be so joyous and euphoria, but rather consider the reality that what everyone thinks the stock market will keep going up forever, that’s about the time it starts to crash.
For instance, when Silicon Valley got completely out of control and everyone thought the dot-com was the new utopian age, the bubble burst. And about the time that everyone started buying real estate in a feeding frenzy at the top of the market with no money down, thinking they were going to make millions of dollars flipping houses, the whole thing game tumbling down, it’s like a child tipped over the checkerboard game.
This is why, I was rather optimistic when I noted that in the last couple weeks of 2009 – there were mixed news reports, some predicting a second coming, or double dip, while others were completely bullish. It’s easy to say in hindsight what would have seemed obvious back then, but that’s not really the case, and I’d like to go through some of the news events towards the end of 2009, the last couple weeks and explains some thoughts on some of these major headlines.