Poll: 60% Say Depression ‘Likely’
Source: CNN
NEW YORK (CNNMoney.com) — Nearly six out of ten Americans believe another economic depression is likely, according to a poll released Monday.
They’re not talking about recession anymore, the word “depression” has made it into the mainstream media! Is the economy going to only get better from here? Is this the darkest before dawn moment?
Jim Cramer(i know you’ll say that he’s not *from your guys* 🙂 said yesterday:
“Sell stocks s if you need the money within next 5 years…”
We can translating that declaration into next idiom: “If you need big stupid money, so make short on stocks all the next 5 years” 🙂
R.,
a lot of people say that Jim is a contrary indicator. He always says “buy” at the top, and now that he said “sell”, they decided it must be the bottom.
Maybe it’s true and maybe this is an intermediate bottom. Still doesn’t mean he’s wrong about the next few years. He’s not an idiot, just plays one 🙂
I’m staying short for now, learning my lessons the hard way!