Frugal is the new hip

David Rosenberg, a Merril Lynch economist, held a conference call on 8/14/08, giving his assessment about the “Elusive Bottom” of the market. He outlined many of the many steps of the recession--and we’re only at the midpoint! Oh, to have only read this in August, when we had the chance to move our 401Ks around.

He believes “Frugal is the New Hip.” One of the outcomes of this deep recession, which he doesn’t expect to be bottoming out until Q1 2009. Ramifications are expected to last for years. In fact, I recently heard someone describe these times, “The Pooring of America.”

Notes fromRosenberg’s conference is in the link:
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2008/08/18/the-elusive-bottom.aspx