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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (361622)12/6/2007 12:41:34 PM
From: RetiredNow  Read Replies (2) of 1574179
 
Normally, I'd respond to an article posted like that, saying that this is definitely an indication that Fear on the Street has reached a crescendo, which is a great contra-indicator, meaning we're about to see a very large rise in the stock market and a rebound in the economy.

I have one niggling issue, though. This administration and Congress has shown no fiscal restraint. As a consequence, we have ballooning budget and trade deficits. That will guarantee that the dollar keeps dropping. If China and other big holders of dollars in currency reserves start re-allocating to other currencies that are more stable, and if OPEC and other large sellers of oil move to accepting Euro's only or selling in a basket of currencies instead of dollar sales, then that will put alot of downward pressure on the dollar. All of those are very real risks.

Having said all that, I still am inclined to think that we've reached a bottom, based on the increasing frequency of news reports on the end of the world being nigh.
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