Good Morning World

Good Lord, everywhere I turn there is a national media outlet doing stories on the sub-prime mortgage and credit crunch. When I start to hear National Public Radio, the Glenn Beck show, and the early morning T.V. news stations airing bits which are ultimately more complicated than their average viewer can comprehend, I begin to wonder, is this a bottom? Or is something much worse in store for us?

I still think there is more downside left. I feel this way because of all the media attention. Likely, Joe Chucklehead is beginning to catch-on that something is happening (but you don't know what it is. Do you, Mr. Jones?). I think that the public, whether they are retail investors or mutual fund owning 401Kers, need to panic a bit, and do some capitulating.

Also, everyone is waiting for the other shoe to drop. Who is willing to go 100% long until we see some honest reporting from the major financial institutions? Personally, seeing a major bankruptcy / blow-up will make me start wanting to put more money to work. Bottom line: investors need to see the worst-case scenario. Once our greatest fears are realized, then we can move forward.