So where is the "Coming Financial Collapse of 2001"....what =can= collapse this year??
I think there is enough "no payments until 2002 (and beyond)" sales in the economy, that people are "purchasing beyond the valley" (< to modify the Wall Street "look beyond the valley" theme of the day). You don't need a job to (1) keep getting credit card apps in the mail, usable immediately (2) real estate purchase requirements are very lax relative to five yrs ago, less percent down, lower rates...no job verification in many scenarios, if that is a problem (though your down payment goes back to 20% down) (3) purchase more stock shares. Charles Schwab on TV showing a theatre audience "a little nervous about stocks"..(WHAT A CROC! Think about it...anyone taking time off to go to a "theatre" to see Charles Schwab, would be HORRIFICALLY ANXIOUS... to paralysis!!).
Wall Street has one, and only one message for retail investors: " you cannot, cannot, cannot TIME the Market..do not try, stay fully invested, never sell, no NEVER sell, you will miss the upturn (< I like the irony of retail buyers "missing the upturn", with the 3G wireless technology of buying more instantly than ever before, with more available data and news), never, ever sell, always buy on weakness, buy on any pullbacks, the best time to buy is right now, just pick a good company..."
The more pundits and "authorities" think that we can "leap the ditch with our car, because of our high momentum" the more likely we are increasing the push on the gas peddle. So we indeed may successfully leap the ditch here to 2002. However, the impact will damage the car, and the next ditch will be impassable. |
