Warning: serious thinking here…
Big rally yesterday. The Dow was up 274 points. Gold went up very slightly and still closed below $1,200.
What gives? A big change in direction? It's probably nothing. Markets don't go up or down all in one straight move. They play with investors like a cat with a mouse. They tempt him into bear markets and scare him away when prices are rising. They shake his courage at bottoms and addle his brains at tops.
[Read more...]
Exporting Economic Growth
Nothing much happened on Wall Street Friday. Gold…stocks…held more or less where they were. So, we take up another week…wondering…waiting…trying to puzzle out what is going on.
Just like every other week!
Economists are finally beginning to ask questions. How come the economy isn't doing better? Why aren't consumers spending? Why aren't businesses hiring?
[Read more...]