I am just wondering if we all have some sort of sick pathology. For crying out loud, why do we believe people who are perpetually wrong. I read a story on Yahoo news, where they quote the chief strategist from Wachovia Bank. Wachovia is at $5.45 a share. In February of 1989, as far back as the yahoo charts will go for me, they were at $11.31. Remind me again whey these guys are such good strategists? If the best financial advice you can offer is, “Take the company that I am the chief strategist for, and short it”, you shouldn’t be offering too much advice.
The equivalent of this would be my brother coming to me and telling me he was broke because , and asking if I had an extra few k lying around. Then, after he takes the loan, he tries to give me financial advice. Aren’t these brilliant strategists the same ones that asked for a mere 700 Bil? That is over $2,000 for every man, woman, and child in America. Wow. They certainly have some cojones.
I guess I look at all these people saying that we are going to have a recovery in the next six or so months. That is what they were saying about a year ago. And things definitely aren’t better. I guess we will have to see, but I think we should still see the inflation riding back on the “we love the printing press” policies of the of the Fed.