When you’re buying paper assets and you’re hoping they go up in value… you’re gambling. And I’ll tell you, the odds are not very good right now… because it’s very obvious from the unemployment, the layoffs, the business failures, that GDP is going down.
The stock market is a derivative of GDP. It is the economy’s way of saying what they believe our business are worth in this country… and right now, they’re saying they don’t see the value. If they don’t see the value now, what are they going to see when unemployment is at 10%, not 7? Yes, they’re predicting 10% unemployment and right now we’re at 7%. It’s going to get worse before it gets better.