“Is it Time to Start Planning for the Recession?”

by Dr. Fred McKinney, Ph.D.

In Greek mythology, Apollo fell in love with Cassandra, the daughter of the King and Queen of Troy. As a present, the Greek god gave Cassandra the gift of foresight and the ability to predict the future. Soon after receiving the gift, Cassandra told Apollo to get lost. Rejection is not something Greek gods or current American presidents take well. The spurned Apollo cursed Cassandra by making it certain that while she could accurately forecast the future, no one who heard her prescient statements would believe her. This turned out to be fatal to the Trojans because Cassandra told her country men and women that the Greeks were stowed away in that giant horse, but nobody believed her.

Several months ago, I wrote that the disfunction in the White House and in Washington was inconsistent with the expansion on Wall Street, and that sooner or later the market was going to reverse itself. That time has come. The Dow Jones Indus...

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