Harry, Good Morning,
re: "Only time will tell which it is, but given the strong earnings picture, it would appear that either we have more growth ahead for the economy or that we are headed for a very hard landing."
There is not much doubt that we have economic growth, unless it turns on a dime. But growth without inflation is a whole lot more valuable than growth with inflation.
MHO, it comes down to a very big picture question: Are we near the end of the technology driven productivity gains? If not, then investors who have a one year (probably less, maybe one week) time horizon are OK.
One thing for sure, if Intel were to disapoint on Tuesday, things will go from ugly to, well, very ugly.
Now, off to play golf,
John |
