Bear! There has been too much abuse in the system for too long. If the dollar rebounds, then even more jobs will be cut and coporate America earnings will tank. Inflation is ramping up and destroying American’s purchasing power.
Less jobs than a year ago, definite recession. (and I’m not just referring to last Friday’s report) The only thing propping up the economy right now is “stimulus” (aka borrowed spending) and that’s going to dry up real soon. Dollar is tanking because America’s credit rating is progressively worse, but S&P will wait until the bottom for declaration. (cheap jab at Lehman’s downgrade) Ben & Co are successfully creating inflation for all, instead of a recession for a few (financials, etc) the whole economy is stretching to the bursting point. Before the end of summer the whole fairytale is going to snap quicker than a crack addict in rehab.
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It’s a bull market for sure! Great bargins are to be had! For instance, Financials have a great ttm P/E! And forward looking P/E can only be up because it’s “baked in the cake.” Blood in the streets, great time to buy. Everything is confined to just subprime, and that is where all the write-offs are coming from after all. Gas prices are just temporary and thankfully are “really” considered in inflation. The same goes for food prices. If I actually had to budget for food (or energy) I might be depressed, but thankfully I don’t have to account for anything but core stuff. I’ve actually taken a HELOC out so I can buy all these stocks at historically low prices!