What's on Jack's market watch list? Frequent CNBC-TV guest contributor and Harbor Advisory's Chief Investment Officer, Jack De Gan, is keeping an eye on:

Recession

November 1, 2008
Our opinion that the U.S. economy has been in recession since the beginning of the year is slowly becoming accepted by the mainstream in the investment community which leads us to update our opinion with our latest thoughts.

We believe the recession we are now in will be one of the longest and deepest on record.  This is because of the effects of the credit crisis on our tremendously over leveraged economy.  Everyone from consumers to commercial banks, investment banks, hedge funds to the U.S. government must reduce borrowings which means they are net sellers of financial assets.  This will put unrelenting downward pressure on prices of those assets.

We will survive this recession and emerge the better for it with less borrowed money at all levels of the economy but the most difficult times lie yet ahead.