So many people have made sensible comments about the bottom being far off, I feel anxious. Their arguments, unfortunately, make sense:
1. The recession is just beginning to hit Europe.
2. The unemployment rate will rise, as companies lay off employees (e.g. Yahoo).
3. The ARMs (adjustable rate mortgages) are going to be re-set at higher interest rates, causing more foreclosures, and placing more downward pressure on housing prices.
4. The dollar will weaken, as the Chinese and Japanese begin to put more of their money in Euros to diversify their holdings.
When anxious, I suggest eating chocolate. Here is a link to the best chocolate I know of, called Frigor:
At least Warren Buffett is buying U.S. shares, so the optimists have good company.