Tuesday, January 8, 2008

If Recession's Here, What To Do?

Many of the headlines lately concern themselves with the likelihood of a recession. The following graph describes to me a very high likelihood that we are already in the throes of a recession:
















But while looking over these articles, I am reminded of Warren Buffett's cautionary words: "We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen...We will neither try to predict these nor to profit from them."

So what are we to do? This morning I learned some wisdom from a local businessman (who is a residential realtor, by the way): "no habits are neutral." Combining these two individuals' advice, my "to do" list means: DO NOT waste time reading, discussing or contemplating issues related to political discussions (like Obama, Osama, et al.) and economic discussions (like recession, recovery, et c.) - without, of course, being rude to others. These are not constructive discussions, roughly translating to "ain't no bank deposit here."

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