MP, thanks for the clarification, and the link. After a quick read, some of Coxe's points attract debate; for instance, his discussion of agriculturals misses (to me) a vital component: the vertically-integrated effect of oil at $147/barrel. The global implications - risks - of derivative trading would have been a worthy inclusion.
He's a good thinker and writer, though. The following goes to the heart of the current debate:
"Do not join the all-out bears on America. The American economy is more resilient than the gloomsters believe. It can even survive the wounds inflicted on it by the Wall Street-Fannie-Freddie-Frank follies—and the Pelosi-Obama programs. Nevertheless, there are now some better investment alternatives elsewhere—across the Pacific and above the 49th Parallel."
About the future of the US economy there's an echo here, courtesy carranza2: Message 25922171
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Commentary on SI threads seems more like post-traumatic stress disorder, complete with apocalyptic visions. You've gotta wonder about the negativity, these days. There's so much noise, and being somewhat positive is contrarian. I don't see the US economy tanking. Yes, it will be impaired, and better returns can be found elsewhere.
Currently, investing like a hunted animal: all cash, and day-trading. Returns have exceeded buy-and-hold. For now, it's working.
Cautious in Canada. |
