a taxi driver told me today that his son started a gearbox repair firm in cork this year, and is out the door with jobs. a mercedes garage near him, went from selling 40 cars a week on average early this year to 1 a week by now, thats some difference! in a reccession or recessionary times, people make do, get things repaired, go without if needs be, new cars being a non essential item is definitely somewhere id short. as for longs, definitely budget food sellers (aldi was mentioned, not sure if they are public??) capital will be the king in this new world, debt as we know it in places like the US and UK will not continue, therefore consumer items will be bought much less by people who can't afford them. all those credit card debts have to come home to roost at some point, and a lot of people wont be able to buy their plasma screen tvs after that!
to conclude, agree with utilities, staples, food, consumer products that are known for low prices. in an odd way property, but only after it halves in value, british land for example, mcdonalds owns lots of land. semi conductors agree, anything that will make businesses more efficient (the likes of intel, dell even nokia, should alomost be considered staples even utilities nowadays as most businesses need these companies to keep going) some banks no longer have a business model even if the government backs them up, anglo irish bank for example, needs to find another way of making money thats not highly leveraged loans to builders, if they cant, they're gone.
