Property Grunt

Monday, October 20, 2008

Stand and Fight or Retreat?

Back on March 26, 2008, I wrote this entry on Jericho the TV series. I never got around publishing it till now.

Last night I watched the final episode of Jericho and I hope this show is able to find a home on cable. I have watched this show on and off so I am not exactly a hardcore fan but besides the conspiracy theories what I do enjoy about this show is the theme of ordinary people dealing with extraordinary circumstances.

In a nutshell, We are all facing similar circumstances. Albeit, it is not on the scale of what the characters are experiencing however we can't deny that we are in a world of hurt and it is probably going to get a lot more painful.

That being said, we need to take stock of what we have learned and what we can do for the time being. I am not saying we should start buying real estate or blow enormous wads of cash to stifle the recession. What we should do is look at ourselves very closely to see how to improve our situations. We should also make the effort to see what went wrong. Why didn't the fail safes go off? What could our government do better in the next round?

Fast forward a couple of months later the economic landscape has changed drastically. Goldman Sachs and Morgan Stanley are the only two of theri kind left, and even with the new cash infusion, Morgan Stanley's days may still be numbered. We have still yet to see a bottom in the real estate market. And the stock market seems to be going every which way.

This morning I was listening to Bloomberg radio where there was a discussion of the equities market on what they should do next. A comment was made that "you can't be a contrarian on the Titanic."

So what to do? I have no idea. If anyone has any suggestions feel free to write.