David Ramsey's Weblog

July 14, 2010

So the Great Slide has begun

Filed under: Economics and Financial — David Ramsey @ 9:42 am

The DJIA is off its 2010 highs by about 1000 points at the moment, having been about 1600 down at its worst a few weeks ago. Right now we seem to be in a minor covering rally. I expect the rally to continue initially, based especially on earnings from more salary cuts, more wage cuts, and more layoffs that have happened. But under the hood we see a far darker picture. (more…)

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