Since the inception of the Money-sage.com blog last August, we have been very pleased by an ever-growing and loyal readership. We have been most gratified by the very positive feedback we have received from readers. We are proud of our very early recognition of the gravity of the sub-prime and banking system crises. This, during a period when there was an overwhelming consensus at the Federal Reserve, among economists, bankers, corporate leaders, Wall Street, and in the financial and general media that these unfolding developments were a minor issue, requiring little attention and already under control. Indeed, as we warned repeatedly of an impending financial and economic implosion, the consensus insisted stubbornly that all was well, that the FED had everything in hand, and that the main issues remained economic overheating and inflation.
We are pleased also to be able to note our early warnings about the prospective implosion of the Chinese equity market (Chinese Tulips?) and of the dangerous overvaluation and risk of any number of "emerging markets" (Emerging Markets, Submerging Markets).
We did, from the outset, warn about the risk and danger of real estate-backed securities and investments. We also expressed, early on, our conviction that the bear market in residential real estate was moving to engulf commercial real estate as well -- even as the consensus remained in massive denial.
In view of the impressive growth in our readership and the strongly positive feedback we have received over the quality, depth, and sometimes prescience of our analysis, and the utility of same to readers, we have decided to bow to the realities of the market economy and convert this blog into a pay subscription service.
This change will become effective June 7-8, 2008.
With warmest regards and cordial best wishes to our readers.
Moneysage
