My dear friends,
I have told you a number of times during the past 10-11 months, ” do not believe the short term rallies in the market.”
The economy is in bad shape, and still needs another 8-14 months to bottom out.
When I say bottom out, the last part of this shakeout will be the worst part. As a people we Americans are very adaptable, and have a short memory.
They have gotten us used to a lower standard of living. Gas at 3.75 a gallon is better than 4.25, but still better part of .80-.90 higher than last year.
We are told to drive less, to carpool, and to stock up on sweaters for the winter. …And we do it, setling into a less comfortable standard of living.
We are told the rest of the World will love us again if me freeze in the winter, sweat in the Summer, eat less , and stock up on foods that are generic, and cheaper, meanwhile less fresh and healthy.
I don’t want to be cold in the winter. I don’t like bulky sweaters. I’ve worked all my life and feel that i’ve earned the right to wear what I want, and heat and air condition my surroundings any way that I choose.
Sell this bill of goods to someone else.
Beware the Market, especially if the Tax and spend party wins, and does its thing.