Hilarious to see the uber-bulls bleat on and on, not realizing they are only helping the rise continue. Markets climb a wall of worry. What is really a joke is how folks like Glenn Beck and Hannity continually say we are headed for “Greece”, that our markets will collapse, and to buy gold, but there is no way they do that with their own money. Anyone who knows me on FR knows I told you to buy AAPL, BIDU and MSTR in Feb 2009, along with homebuilders. I still have my buy hat on, and see nothing in the market or charts to change my mind.
DOOOOOOOOOOOOMED. We're doomed!
And yeah, it is hilarious hearing the likes of Beck and Hannity say these things when there is no chance they are squirreling their money away in gold.
Lets face it, many conservatives want to believe the stock market is on the edge of collapse because they can't accept anything would do well during Obama's tenure. Many, I think, WANT it to collapse. All these people do is put all their faith in the doomsayers at Zerohedge and elsewhere and will continually miss the boat in bull markets when leftists are running the country. Hussein is an awful president, but that doesn't mean every part of the economy will suck forever. Nor does it even mean we may not experience a market and general economic strengthening. Many of these types of people were likely predicting the same thing at the height of the 90's boom and missed a great opportunity to make a ton of money in the market. Will the market come back down at some point? Sure, no doubt. Does that mean one shouldn't buy and invest wisely? Certainly not.
People on the left tend to do the same thing when Republicans are in charge. Assume the worst, buy into everything written that predicts doom, and believe there is no way the market or economy in general could strengthen or have a strong growth period.
The American economy is improving somewhat in spite of Obama. I think there is a reckoning coming for our massive debt, and think eventually we are likely to see a major collapse under the weight of the social welfare state - but that could be a decade or more from now. In the meantime, the markets could go up for awhile, unemployment may continue ticking down, and the economy in general might rebound to some degree - simply because it is hard to keep the American economic engine down forever.
You will be pleased to know that the Congressional Budget Office shares your bullish attitude. In testimony on 2 February, the Director predicted an unemployment rate of 8.9% in the fourth quarter of this year. That should lessen significantly the probability that major mistakes will be made in November.