Stock: Nope, no margin here. I learned a hard lesson in that area back about 9 years or so ago. House of cards indeedy. It may be strong on the way up, but if you get greedy and over extend....nasty it can be on the way down.
As for the politico's...well...my philosophy has always been they may damn well stand in front of it all, claiming credit when times are good, but the reality is they don't have that much direct impact on the market(although I suppose one could argue this longest ever bull market probably got its start on the back of Reagans' policy actions). Even Greenspans' available mechanisms aren't exactly robust. He really doesn't have that many tools in the 'ol toolbox to work with when things get out of hand(if he did the mania probably wouldn't have gotten as out of hand as it did), although all the jaw-boning he's been doing certainly sends up a nice, poofy smoke-screen. Heh! And those tools available are, generally speaking, crude. In other words....when things fall out of bed it's too little too late for Fed action. The eggs be broke. So I expect the politico's Clinton et.al. will duck and run for cover, being clueless about how to rectify the situation.
'Course, I'm expressing a harsh opinion, and most certainly could be wrong. But I digress, as this thread's about TKLC. I'd like to think it won't go much lower, as it did pop back up there in the last few minutes of the day. Even so, we're gonna have to live it and see, eh?
Regards!
John~ |
