Blodget: US Economy is Screwed

Market watcher Henry Blodget is not optimistic about the US Economy.   He notes that advertising spending already appears to be threatened by the slowdown, and he seems to think this will hit everybody from mainstream media companies to technology/media stocks like Google.  As the subprime mortgage timebombs keep ticking away I think it makes sense that we are in for worse conditions before we see happy days again.   In fact I expect it will be at least 5 years before housing prices return to the highs of 1-2 years back.   It may be time to hunker down and settle in for a long and cold economic winter.