I didn’t watch the U.S. Vice-Presidential debate this week, but from what I understand from the news coverage, Joe Biden was laughing, a lot. I have no idea why he was laughing; I guess government manipulation of the economy is funny. Excessive government isn’t just an American disease; it’s a world-wide phenomenon.
Venezuela re-elected Hugo Chavez this week. What’s up with that? Abject poverty, and yet the people love him? Or it was all a fix?
The Nobel Peace Prize goes to the European Union? A quasi-government organization that has squandered Europe’s past on more bureaucracy for the future?
No wonder Joe is laughing.
The markets, however, were not laughing this week; here are the gory details:
TSX down 1.75%
S&P 500 down 2.1%
DOW down 2.07%
Gold down 1.25% (although still up 12.16% on the year).
Does the negative action last week imply that we are at the start of a prolonged downturn? Hardly. We are in a manipulated economy, and the election is a few weeks away. Now would be the perfect time for the market to go on one final upswing.
Just as we had an amazing jobs report a week ago, bringing the unemployment level under the magic 8% mark, a new high on the Dow is not out of the question. Expect continued strength over the next few weeks.
Of course after the first week of November a big crash is not out of the question, but that’s a few weeks away.
Gold also appears to be be building a base, so I have no concerns about that investment for the future.
Beyond that, I have nothing of note to add to the discussion, so we sit, and watch the laughing.
Thanks for reading; see you next week.
Tagged as:
Joe
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Laughing Joe
by JDH on October 13, 2012
I didn’t watch the U.S. Vice-Presidential debate this week, but from what I understand from the news coverage, Joe Biden was laughing, a lot. I have no idea why he was laughing; I guess government manipulation of the economy is funny. Excessive government isn’t just an American disease; it’s a world-wide phenomenon.
Venezuela re-elected Hugo Chavez this week. What’s up with that? Abject poverty, and yet the people love him? Or it was all a fix?
The Nobel Peace Prize goes to the European Union? A quasi-government organization that has squandered Europe’s past on more bureaucracy for the future?
No wonder Joe is laughing.
The markets, however, were not laughing this week; here are the gory details:
TSX down 1.75%
S&P 500 down 2.1%
DOW down 2.07%
Gold down 1.25% (although still up 12.16% on the year).
Just as we had an amazing jobs report a week ago, bringing the unemployment level under the magic 8% mark, a new high on the Dow is not out of the question. Expect continued strength over the next few weeks.
Of course after the first week of November a big crash is not out of the question, but that’s a few weeks away.
Gold also appears to be be building a base, so I have no concerns about that investment for the future.
Beyond that, I have nothing of note to add to the discussion, so we sit, and watch the laughing.
Thanks for reading; see you next week.
Tagged as: Joe