Is the recovery real? Are stock prices telling us that the “All Clear” has been sounded? Are we finally out of the economic woods? Harry Dent brings you up to date in his latest video (October 2009).
The Ticking Time Bomb:
Even though we’re recovering because of the stimulus, and the leading indicators are suggesting we’re gonna continue to recover into early next year, for now, we keep seeing loan defaults and foreclosures. One of the things we’ve noticed is that half the houses that have technically defaulted haven’t even moved into foreclosure yet so there’s a backlog and a lag on that.
Unemployment and continued layoffs continues to trigger defaults.
Next year is not going to be the year of recovery that most economists are promising.
Watch Harry Dent’s Economic Update: