Lots and lots of intersting news today.
First, here are some great articles. I bet windy agrees with all of them, except the part (and get ready for this Windy) where he says we need FAIR trade, and like me and RIck have been saying, the Chinese are not holding up their end of the bargain (duh, what a surprise).
Go for Gold Inflation Is Here and Going to Get "Much Much Worse" Pento Says: Tech Ticker, Yahoo! Finance
Obama Playing with Fire U.S. Will Lose Trade War with China Pento Says: Tech Ticker, Yahoo! Finance
Next Leg Down Will Be "More Painful Than The Last" Pento Says: Tech Ticker, Yahoo! Finance
I agree with this guy almost 100% - especially that part about listening to Bernake. The guy missed the bus the whole last 2 years, yet people listent to him now when he says things are rosy?
On another front, and this goes into the box of, "Things That Make You Go Hmmm...."
SO the stock market is trading in the billions of shares and lots of people are buying into the dow??? Well, can someone please explain then (as I was saying yesterday) how it is that Career Builder found that 6 out of 10 Americans, if not unemployed, are living paycheck to paycheck and not saving anything? Read this:
Six-in-Ten Workers Live Paycheck to Paycheck, Reveals New CareerBuilder Survey - CareerBuilder
Of special note is how much higher these numbers are than from previous years and how many people are going into their 401ks just to make it. THis includes a large increase from those making 100k or more a year, so not just the typical middle and lower class.
I am telling you that we are not out of these woods yet. Not by a long shot. In fact, I would compare it we found a meadow in the middle of a forest. Everyone is dancing around thinking they found their way out. Instead, they are going to realize real quick that not only did they not find their way out, all the celebrating made them forget which way to even head to get out.
Watch those articles. This guy invests with common sense and looks at the long term. Let me know what you think.
So where is all this money coming from and all these buyers??
- CD