We’re still in the smartist ‘new era’. Stock market surges 300+ points
In yet another blow to the pro-Obama, protectionist, anti-NAFTA, boo hoo hoo-ers the Federal reserve under Ben Bernanke has infused $200 billion dollars into the financial markets to help offset the so called ‘credit crunch’.
Subsequently, stocks are surging. ‘New era’ smartist stocks which I have been recommending on this blog such as GOOGLE, MOS, MON, POT, BIDU, EWZ, FXI, MA, RIMM, AAPL, KOL and many others are up huge.
We’re still in the new era. We’re still in a web 2.0, high tech, globalization boom. Consumer spending is still very strong as is the US and global economy, contrary to the pessimism and doom and gloom purveyed by the leftists. There is tons of credit and liquidity. Free trade isn’t going away. The borders will not be closed, and as I have repeated dozens of times McCain WILL be our next president.
The Fed will cut rates by 75 basis points this week, which will send the stock market higher by about an additional three percent, I predict. The dow will probably end the week at around 12,600.
Web 2.0 is stronger than ever and isn’t a bubble. Millions of people log into facebook and myspace and watch vidoes on youtube. We’re still in a second internet technology boom. No one cares about inflation or the falling dollar except the leftist, pro-Obama, pro Ron Paul supporters.
You can’t tell me there is a recession unless we have two negative quarters of GDP growth or unless I see signs of a recession. Nor are we in a bear market unless the S&P 500 closes BELOW 1252. There has yet to be a single quarter of negative GDP growth since 2002 and the S&P 500 is now WELL above the 1252 level.
Rising gas and rising food prices isn’t a big deal cause we’re in a global economic boom, and the demand for commodities is staggering. The stunning rise in commodities has nothing to do with inflation, but is supply and demand at work.
The Dow will revisit 14,000 this year, and make historic high by early 2009, despite the media generated recession and the imaginary ‘credit crunch’. Consumer spending will be stronger than ever. Paymentism, consumerism, and spendism is here to stay, which is why YOU MUST BUY MA STOCK. Mastercard and Visa are the main beneficiaries of paymentism and spendism.
I am more bullish about the stock market and economy than I have ever been before. The pro-strong dollar, protectionist, anti-free trade, anti-nafta pro-Obama, pro-Ron Paul leftists are wrong as they have been since 2002. The new era is here. Web 2.0 is not a bubble. Facebook is worth $30 billion and will lead the web 2.0 revolution along with Google. There is no housing bubble. There is no inflation problems, nor are there credit and liquidity problems.
As I have said b4: time to buy