It has been said that if one wants to become truly successful, one must be able to direct their thoughts and control their emotions.
Too many people here are distracted over stuff they have no control over.
Relationships with people are the same as the relationship with Mr. Market. It's how YOU react to your surroundings that determines your success.
Focus on the things you have control over. In a free and open society, in my opinion, it's better to focus on the message as opposed to the messenger. The messenger doesn't pay my bills, the message may have an impact on whether I pay my bills or not.
My portfolio hit its all-time high yesterday because I focused on keeping an open mind and I reacted accordingly.
The markets at this time require that we focus with a wide angle lens. Open your minds and be prepared to adjust your thinking.
In my opinion, there will not be any emergency meeting declaring a rate decrease. The only time to my recollection that this occurred was way back when inflation was high. We aren't there yet.
In my opinion, I wouldn't be surprised to see that we don't get a rate decrease the end of this month either.
In my opinion, Greenspan may want to see Dubya tone down his tax cut rhetoric before lowering rates. One of Greenspan's objectives has been to take the speculation out of the market. A rate decrease and a tax cut would probably bring that speculation back with a vengeance
I've been reading Bob Woodward's book Maestro (Greenspan's FED).
On page 61 of the book Maestro, in referring to the weak economy on July 6, 1989, and after lowering the rate 1/4 from 9 3/4 to 9 1/2 the previous month, AG says and I quote..... >> "I'm concerned that the worst thing that can happen to us, as far as policy is concerned, is that we are perceived to be easing too fast and in a manner which could open up the possibilities of inflationary expectations."
I'm not saying Greenspan won't lower rates. I am saying that we need to control our emotions and direct our thoughts.
Perhaps a philosophy I learned in the Marines would be helpful at this time:
Improvise, Adapt, Adjust and Attack!
Best regards all,
dabum |
