Wednesday, November 26, 2008

Nov 26 Part 2

We just got durable goods and it just proves everything I was just saying in my first email today. Durable goods are flat screen TVs, washers, dryers, sound systems, computers, cars and all the stuff people buy with Bank of America unsecured credit. The economics estimates were down 2.5% but it was down 6.2%!! They weren’t even close. Is it any wonder HP, Cisco, Intel and all car makers are shutting down production? This has to spread to more pain and more job loses. Jobless means people can’t payback all the Bank of America credit drug off and Plus the products that are in stores right now are getting devalued everyday. Margins will be killed on lower volume. How many of you want to buy a company doing that? They aren’t hard to find.

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