Oregonian top story today: Schnitzer family sells stock, loses control of steel company.  The Schnitzers — long recognized for their local philanthropy and community leadership, selling off their family ownership to the company founded in 1906 by Russian immigrant Sam Schnitzer.  One reader of the story comments: “They are not dummies, the stock recovered about 45%, and the second dip in the economy is imminent, so they sold. The dollar is going to collapse, so it’s a smart move to take profits now and convert to Euros and commodities. Just consider this, the Schnitzer’s are taking a huge loss, WHY?”

 I keep hearing about this “second dip in the economy,” that it is imminent, and will be worse and longer than the first wave of economic upheaval.  This is not just coming from food-hoarders and the crazies always telling me to “buy gold now.”  This is coming from a lot of people.  Smart people.  Are the folks out there in Anytown USA simply living off of new credit cards that they are maxing out?  Will 2010 bring about enough confusion and lack of leadership, from the Market to the Capitol, that a situation worse than what we’ve been in is really imminent?  Lord help us if it is!  I think I am going to stock up on water and cans of tuna now.

 http://www.oregonlive.com/business/index.ssf/2010/01/schnitzer_family_sells_stock_l.html