And another guy says we're going to have a recession. And he's not just ANY guy - he's a Harvard economist who happens to head up the National Bureau of Economic Research.
The NBER is the group charged with telling when we're in a recession. So the guy who's going to tell us when we're in one, says we're headed for one. Merrill Lynch says we're already in one, which puts them in agreement with about 60% of you, according to the most recent CNN/Opinion Research Corporation poll.
I could go on, but I don't want to depress you. Needless to say you already know the strains you're under: high gas prices, low home prices, maybe interest rates that are higher than you'd like.
Good news?
The Fed may cut rates again at the end of the month, and the Federal Government may consider cutting taxes. But both of those acts carry risks - which is why I say that they "may."
Experts tell me consumer staples, alternative energy and companies that cater to consumers in other countries are the places to park your money.
In a recession, invest in the things that are likely to do well. But stay diversified - don't put all of your eggs in one basket, no matter how good the basket looks.
