Bear Market

Once again I'm stepping in briefly to say that, hopefully, I'll be writing here more often in the not too distant future. One of my earlier posts, however, is worth recalling:

I've become increasingly concerned about the US economy, and by extension international markets. Maybe, if I have time next weekend, I'll write about my reasons.

I didn't have time to write about my reasons; as it happens, though, all you need to do is open a newspaper to see why I was worried. There's more coming, I'd bet. My money's staying out of the market for awhile yet.

This was entirely predictable: the inevitable consequence of a collapsing real estate market. The real question was always when, not if, a significant chunk of the financial sector would collapse along with it.