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And the Band Played On

"Yes, there have been 1.9 million jobs lost since the start of the recession last year...  But that still leaves 93.3% of us employed.  Close to 10% of homeowners have either missed a house payment or are in foreclosure...  But 90% of us are not in danger of losing our homes.  Yet we are wary."

There's a spreading virus of instability.  Yet Warren Buffett's rule of thumb is to be fearful when others are greedy and to be greedy when others are fearful.  This bucks the tide of the dominant (although shortsighted and irrational) tendency to presume that the economy must continue to walk the immediate path of today and the day before.

Buffett (and others) are well aware of 1975, 1980, 1990, 2003, and 2005.  Despite prevailing doom and gloom resulting from relentlessly poor economic figures, the stock market rebounded 23% (on average) during each following twelve-month period.

Has the worst passed or is it yet to come?  The alert investor, business owner, and consumer will want to focus on facts rather than fears.


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