Financial Guru Foresees Tougher Times Ahead

I'm told that this article regarding my 2009 forecast will be carried by over 100 publications.-Lou

Financial Guru Foresees Tougher Times Ahead

NEW YORK, Jan. 7 /PRNewswire/ -- MS -- By the end of 2008, words like "bailout," "foreclosure" and even "recession" had taken over the national headlines. While some look back on the last 12 months in shock, for others the drastic turn of events in 2008 came as no surprise. Such was the case for popular radio host Lou Scatigna, otherwise known as "The Financial Physician." Just 12 months ago, Scatigna offered a dreary forecast for 2008, predicting the failure of large financial institutions and a drastic decline in the stock market among other things.

With the new year upon us, Scatigna once again finds himself offering a bleak forecast for the months ahead.

Stock Market
If investors thought 2008 made for a wild ride in the stock market, Scatigna says an even more exaggerated roller coaster ride awaits investors in 2009. While Scatigna predicts the inauguration of President Barack Obama will help the markets get off on the right foot come January, such a rally won't last forever.

"I expect the U.S. stock market to hit new lows by the end of the first half of 2009," offers Scatigna. "Investors will come to the conclusion that the worst for the economy and corporate earnings is still ahead of us."

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