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Emergency Rate Cut by the Feds
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Well, today was quite a day, wasn't it? I know so many think that the Feds didn't do their job, but I think quite the opposite. Losing just 1% is a lot better than what the Feds feared would happen if they hadn't taken emergency action. Bernanke is taking a lot of flack from talking heads, but in my view, it's not Bernanke, but the job he inherited, that sucks. We've got Baby Boomers hitting retirement, and need to figure out a way to keep productivity up. I have faith in technology and hope that we'll find a way to keep bringing in the best and the brightest from around the world as we head into the future. However, most people are more worried about tomorrow. Will the markets continue to drop? My sources say that the Feds will keep cutting rates until we hit 3, and that should start stimulating the economy again around June. Not much to love in between, but I've got a few stocks that I'm going to test. Additionally, I wouldn't underestimate the fever of the 2008 Beijing Olympics, particularly with regard to Chinese stocks and alternative energy. The Chinese are focuses quite heavily on green energy for the event, which could very well wow the world. Since clean energy was the top performer in 2007, and Suntech (STP), the solar manufacturer sponsor for the Beijing Olympics, was an absolute rocket ship in the stock market, I'll be watching anything related to that sector after tax season. Gold until then? | ||
