If we really catch Osama, as it seems as if we soon may, that’s the kind of great news that could easily touch off a rally – Lord knows there’s a ton of cash of the sidelines, including a gram or two of my own. And if there were some kind of good surprise with Iraq, the market could go over the moon – short term.
My own sense (and I would be first to agree my own sense is not worth a whole lot, and that timing the market is all but impossible for anyone) is that the values, for the most part, are just not yet that compelling, and that the economic challenges and uncertainties are still awfully great. So even if we get lucky, I’d be surprised if, as a general proposition, stocks, bonds, or real estate have hit bottom.
And if things should go badly in Iraq and its aftermath, as they well may, times could get tougher.
Well – you asked.
And now, on an entirely different topic . . .
Quote of the Day
Every gun that is fired, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. The world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.~Dwight D. Eisenhower, 1953
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