Friday, June 10, 2011

"Dow Flirts With 12,000-Mark; Banks Lag (Now below 12,000)"

Article from CNBC

The market knows the US economy has entered another recession.


The market wants its heroin, aka QE3, and will go down until it gets it. My guess is around Dow 10,000.


Down 150, how soon before the Feds start buying? Do they have enough money left to buy the Dow back up to 12000? Make that down 160.


I don’t see how he can be re-elected. Of course, I don’t see how he was elected to begin with.


I sold all my stock losers over three years ago and bought gold and silver. Took a hit on stock sales, but have more than regained the ground with precious metal. The performing stocks that I retained have continued to perform though at a slower pace than gold and silver.

I deliberately chose to stay out of bonds because they are a creature of government. We all know the government is broke. Moreover, the intrinsic value of government issued instruments is based on GED and/or GNP coupled with debt burden. The US is in the toilet. It’s only the size of the US economy that is holding off the coming catastrophy if we adhere to the Usurping Marxist Onada’s policies.

IMHO gov’t bonds are not worth the paper they’re printed on.

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