I'd like to welcome myself back from the layoff. No, I didn't lose my job. I went on vacation and was waiting for this short-lived, suckers rally to abate a bit. Now that we had a pull back late last week, I'd like to address all the experts out there who keep trying to figure out which letter of the alphabet the recovery is going to represent. The fact that people are focusing on trying to figure this out tells you they have no f'ing idea what is going on and what is going to happen, so they distract you with speculation about what kind of letter the recovery is going to represent. They do this, so that have a remote chance of getting it correct. They could pick a letter out of a hat and technically have a 1 in 26 chance of getting the right letter. Even still, they can eliminate certain letters like "T" and "O", because a graph showing the market ups and downs could never represent those two letters. The whole thing has about as much relevance as the "Doomsday Clock" developed post WWII.
The real issue is will we recover sooner or later. I tend to think that we may be treading water for quite some time, with the minor ups and downs. It remains to be seen if the government is going to cut spending and if consumers' confidence in the market returns and remains stable. There are also interest rate issues, government regulation issues and last and most important......inflation issues. I've been moaning and groaning about the printing of money and how the spending money is not a way to fix a problem rooted in spending too much money. Everyone has been telling me that I'm crying wolf, but now the Oracle has decided to put his two cents in and give my concerns about the subject some validity.
Read on.....
http://finance.yahoo.com/tech-ticker/article/306287/Buffett-We're-Going-to-Be-Crushed-Under-Mountain-of-Debt?tickers=tbt,tlt,udn,uup,brk-a,brk-b,spy&sec=topStories&pos=9&asset=&ccode=
Next up will be what to do now and where to look for some bargains before we start to see the slow and steady upswing.
Wednesday, August 19, 2009
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