by David Kranzler
Investment Research Dynamics
I got an email from a colleague today that said, among other things: “The economy is tanking and, while you may be the most pessimistic around, you may not be pessimistic enough.”
To that I would say that I’m significantly more bearish than is reflected in my public analysis. I spoke to a couple people today who offered anecdotal stories about their particular business niches – businesses in which new orders are somewhat tied to discretionary spending – and they both said that new business activity is unusually slow and that the last time they experienced new order flow this slow this was in 2008.