Bill W.

Consumer Sentiment: Always Darkest Before the Dawn

This recession or pending depression is not like others because it's cause is completely different from those in the past. Think Adjustable Rate Mortgages (ARM) resets, which have resulted in declining home prices, foreclosures, declining home values, increase in credit card debt, Credit Default Obligation (CDO) devaluation, bank credit tightening, decrease in home demand, and on and on.

I believe we will see a direct connection with ARM resets and negative investment bank profits (which will be hidden until thier quatertly statements are released). So, this is not the end, this is the beginning of the end.

Respectfully,

Bill W.