Word: turnings
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Normally in economic cycles, stocks bottom several months before an economic recovery gets underway. Investors' hope for such a turn was surely dampened by the Federal Reserve's new reading on the economy. Details of a meeting of Fed officials in late January reveal that they expect the economy to contract this year as much as 1.3%, a sharp downgrade from their expectation for modest growth in 2009, expressed last fall. The Fed also said that unemployment could reach 9% by the end of the year...
...given all the worrisome economic news and negative market momentum, what would it take to turn a market bullish? Says Roth: "I'd become more bullish if I saw traders get very bearish and sell out, taking short interest much higher relative to volume." Beyond that sort of investor capitulation he'd also become more bullish, he says, if there were a big drop in long-term interest rates, especially in corporate bonds, which could prompt investors to shift their focus to stocks. At the moment, he says, it's a waiting game...
...doubtful that Yosano will be able to turn things around. Yosano claims he taught Ichiro Ozawa, the leader of the DPJ, the chess-like game of go. But the last time that Yosano and Ozawa played a match, Ozawa won. With the LDP reeling, it appears Ozawa now holds the political advantage as well - and this will affect whether the government is able to take more decisive action to combat the economic downturn. While Aso's Cabinet in December approved $811.9 billion in stimulus spending, little of that money has been put into action. Other measures are seen as piecemeal...
Then there was the appliance salesman who offered to carry my bags as we toured the microwave aisle. When I called my husband to ask him to check some specs online, the salesman offered a pre-emptive discount, lest the surfing turn up the same model cheaper at Best Buy. That night, for the first time, I saw the Hyundai ad promising shoppers that if they buy a car and then lose their job in the next year, they can return it. (See 25 people to blame for the financial crisis...
...supercheap flat screens going to go bust and thus not be there to honor the "free" extended warranty? Is there something ... wrong ... with that free cheese? Store owners will tell you horror stories about shoppers with attitude, who walk in demanding discounts and flaunt their new power at every turn. They wince as they sense bad habits forming: Will people expect discounts forever? Will their hard-won brand luster be forever cheapened, especially for items whose allure depends on their being ridiculously priced...