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A Scary Time for Stocks

Contributed by mm | January 9, 2004 05:08 PM PST



Whitney Tilson explained why he thinks it is a scary time for stocks. His main worries:

- Benefits from low interest rates, tax cuts and increased government spending are almost over
- Consumer debt is rising over time and is a time bomb now.
- Latest employment figures are not promising.
- Trade and budget deficits; dollar declined to multi-year lows in foreign exchange.
- Stock valuations are far above historical averages.

And if this does not make you worry, check out this post from the RatcliffeBlog, which said "[i]nstead of a recovery, we're borrowing against future generations' earnings and home equity to preserve an illusion of prosperity."

I tend to agree it is time to play defensively.

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