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.
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
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.
