My flight was cancelled so I have some extra time for a post. As is the case for most hotels, guests are provided a copy of USA Today, which is the only time I will ever look through this lame publication.
So what is on the front page? The headline reads, ”Red Flags in Bear Stearns’ Collape” and the lead says “If the US economy were a car, all of its warning lights would be flashing red”.
Warning lights? I think anyone who has been following this crisis would say that those lights would have been flashing last summer. I would argue that the car is either in the shop being fixed, or is sitting in the parking lot waiting for its owner to pick it up and drive away. I’m still bullish and am more convinced than ever that the selling has been exhausted.
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