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Wall of Worry

Written By Brian Hicks

Posted February 28, 2008




mag glass



Sometimes people ask me why I’m so negative these days.

My answer, of course, is pretty simple. 

“When the data stops being so negative,” I insist, “I’ll be more than happy to turn positive. But until then I just can’t ignore it.”

That to me would be foolish.

You see, being negative isn’t really natural to me at all.

I say that because in reality my glass could be shattered in a million pieces all over the floor and I could still insist somehow that it was half full. That’s because I know full well that nothing is as bad as it ever seems at the time.

But as far as things go in the short term regarding the markets, I have had to put aside that same optimism in the face of all the bad news lately.

In fact, the news has been so bad this week that I can’t possibly comment on all of it, which to be honest is a story in itself.

Here’s a run down of this week’s headlines and its only Thursday afternoon.

Read them all if you can take it.  

Economy Slows to Near Crawl

New Day, New Low for Dollar

Freddie Mac Posts $2.5B Loss in 4Q

Oil Back Above $100 as Dollar Weakens

Toll Brothers posts loss: CEO frets recession talk

S&P/Case-Shiller Home Prices Fell 9.1% in December

U.S. Home Foreclosures Jump 90% as Mortgages

Wheat prices in biggest one-day rise

FDIC to Add Staff as Bank Failures Loom

California City Moves Closer to Bankruptcy Filing

Home Depot Profit Drops on U.S. Housing Slowdown

Fannie Mae Posts $3.6 Billion Loss

Scarce Shoppers Sap Sears 4Q Profit

The PPI’s Inflation Surprise

US January durable goods orders fall 5.3 pct vs expected 3.5 pct drop

So what do you think? Have I gone off the deep end or not? 

That to me, anyway, is some wall of worry.

Of course, if you want much a rosier picture that flies in the face of reality there’s always CNBC.