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Let's talk about The Bear
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How many of you think we're in a bear market? And speaking of bears, how many of you noticed that one of Wall Street's premier firms, Bear Sterns, just got swallowed up in this mess overnight? Gone in one weekend after seventy four years in business. Gone. Tomorrow is Fed rate cut day. Another debasement to our dollar. Ordinarily I like rate cuts because it makes my gold stocks shine. But, folks, this is serious. These "Wizards" who are leading us down the yellow brick road don't have a clue as to what they are doing to our markets. If you think this market is bleak, you ain't seen nothing yet. This credit mess is international ---spread by hedge funds, investment banks, and all of the darlings down on Wall Street. Markets will be headed in a southerly direction for a long while but hopefully there will be some bubble like cushions tossed out to smooth the ride. Load up on gold. It was the only asset class to remain positive during the depression. Oil stocks are also good, but make sure they pay dividends. We may get another bubble first, but the seeds have been sown, the path is obvious. We're in for a year or more of misery. If we're lucky enough to see the S&P rise to 1350 or 1400 in the stimulus package quarter, SELL and pocket some money. You'll need it to pay the extra bills caused by rising inflation. Unfortunately, house prices, financial investments, and wages will not be participating. | ||
