Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

Joe...

As usual, Maulden is very long winded but makes some good points. Much of that article is comprised of the same arguments that I have been making here for months - a topping of the housing equity financed spending boom, a sinking world economy, a sky rocketing deficit, a falling dollar, and a clueless Fed Chairman (now arguing against fiscal stimulus at a time when it is badly needed.) Yet with all that, he still argues for what he calls the "muddle through economy", which I think is dead wrong.

I cannot look at all that is going on (as he well describes) and not come to the conclusion that things are going to get significantly worse instead of his "muddle through" scenario. Personally, I am getting more and more concerned about everything converging to produce my worst case scenario - what I have been referring to for the past couple of years as a "perfect storm". I keep hoping that something will happen to improve the outlook so I no longer have to worry about that "perfect storm" scenario, but instead it continues to become even more possible.

mlsoft