Hussman Funds - Weekly Market Comment: June 26, 2006 - Recession Risks are No Longer Dormant

Hussman Funds - Weekly Market Comment: June 26, 2006 - Recession Risks are No Longer Dormant: "In a reasonable world, one would look directly at the huge U.S. government deficit and paltry U.S. savings rates, combined with a housing boom that's creating a growing inventory of unsold houses, and say, “Wow, we're not saving enough, and we're investing in the wrong stuff, and as a result, we're becoming dangerously dependent on foreign savings that will be hard to repay with future productivity.” Unfortunately, we're living in a world with no introspection, so we actually see analysts arguing with a straight face that our current account deficit reflects – I'm not making this up – a “foreign savings glut.” That's like the Garth Brooks song where he looks at the beer he's holding and sings “lo-ooong neck bottle, let go of my hand…”"