good news travels fast, bad news even faster

The R word
The overused word for the month of January is recession. Everyone talks about it because its rearing its ugly head in the U.S. and for better or for worse, what happens in the U.S. affects almost, if not, the whole world.

The debate is ending
The long and seeminlgy unending debate on whether the U.S. will head into a recession seems to be tipping in favor of a recession. That chilly word is all over CNBC and even Ron Nathan who has long been arguing that it isn't here yet nor is it coming seems to have modified that opinion a bit.

Good news in there, somewhere
The gloom and doom in his last article didn't sit too well with me so I prefer not to mention those points here. But I very much like that he ended by pointing out that:

"There are signs that the Philippine Stock Exchange index may be bottoming out. Foreign selling stopped last week after seven continuous weeks averaging nearly P1 billion a day. I suspect the pension funds are buying heavily, especially the Government Service Insurance System, which is investing P20 billion into the local market."

I understand that to mean we may be seeing less foreign selling, maybe even some foreign buying translating into upward market movement.

Incidentally, CNBC reported that the writer's strike is over. The famous blog: perezhilton quotes CNBC on that as well. Happy news. Funny I haven't heard it from anywhere else.