From the latest email newsletter of Whiskey and Gunpowder:
The tipping point seems to be the Bernie Madoff $50 billion Ponzi scandal, which represents the grossest failure of authority and hence legitimacy in finance to date in as much as Mr. Madoff was a former chairman of the NASDAQ, for godsake. It’s like discovering that Ben Bernanke is running a meth lab inside the Federal Reserve.They're saying the economy is surely well on its way to disaster. I'm not so sure. YET.
But the quote is funny. And might be true. Stranger things have happened. It (the economy) keeps getting weirder. Stay tuned.
Retail reports will be out soon regarding the crappy shopping results. I'm sure it will be worse than expected.
Now may be the best time in our lifetimes to buy stocks. Or it could be the 1970s and 1930s all wrapped up in one not-so-nice little "Holiday bow."
Which is it? Tell me your view in the comments.
Happy holidays. In spite (or because of?) it all.
Money isn't everything. It's the only thing. Wait. That's only for football.
Enjoy life. Spend time with your family.