Financial Spotlight – March 26, 2009

Folks, it looks like things are finally starting to improve somewhat on Wall Street. I have repeatedly said that in order to get out of this economic situation we first need to stabilize the financial system. And now the Fed, the Treasury, and the Obama administration seem to be on board with this logic. The market is obviously feeling more confident as evidenced by the 20% move off the bottom set back in February. But don’t pop the champagne corks just yet as it is going to take a while for this down turn to play itself out which means we are in for a lot of volatility in the coming weeks and months.

Even though the market is showing some signs of improvement the overall economy is not. In fact it probably won’t until at least the end of this year, at the earliest. As a result expect to see more layoffs. On a more positive note, spring is here so if you do lose your job at least you’ll have some warm weather to enjoy.

Please feel free to call or e-mail any questions or concerns. I’ll keep you posted as events transpire