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Ignore the Economic Reports, Even if You Can’t Ignore the Pain
The economic releases now (and for the immediate future) will be weak – that’s a given.
Therefore, investors should give them a passing glance, evaluate the consequences and potential remedies, and move on. In fact, the bigger picture should focus on how to correct these assorted problems.
Expect plenty of over-analysis of the provisions of the revised bailout plan, as “experts” debate the merits of the overall terms and try to determine if – and how – the bailout plan will work – and who it will benefit. (Does anyone in Congress even understand mark-to-market accounting?)
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Avoidance Tactics
Not much action in the markets yesterday…but we don’t have any time to reckon with it anyway.
Gold plunged all the way down to $806. Now analysts are starting to talk about oil below $100 and gold below $750.
Meanwhile, Goldman Sacks predicts that oil will go all the way back to $149 before the end of the year.
Go figure.
We don’t know. The markets can do what they want, as far as we’re concerned.
But what if you have money you have to do something with it. What do you do?
Avoid U.S. stocks. The U.S. market is in relative decline. And it’s just going…
5Sep2008 | Daily Reckoning | Comments Off | Continued
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