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It may be OK to pick a few specific individual stocks that you believe will do well ( I have some pharmaceutical favorites) and buck the trend but for now buying any stock index funds is not logical. They are gong down a lot more. The interest rate cut is not likely to do much tomorrow. As Greenspan has said, gold is well known as a long term protection against inflation and as a safe haven.
Mar 17 08:12 am
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All Comments by DenisL »CPI: 2008 vs. 1980 [View article]
Currently with REAL US inflation at nearly 10% it is foolish to TODAY have money in T-bills, US stock funds (some foreign funds, as well as currencies, are still doing relatively GREAT), bonds or CDs. Buy gold. The price of gold has more than tripled since 2000, Up 30% in 2007 and up more than 15% just this year alone. The nuts in DC have still not understood that we can not inflate our way out of the economic problems that are being caused BY the inflation of currencies world wide.
When Bernanke and the gang get serious about inflation like Reagan and Volcker did in the early eighties and RAISE interest rates 3 successive times, THEN it will be time to sell your gold. I would NOT hold my breath. They just do not get it. If you buy gold you will have some capital left to help rebuild America and the world when the dust settles on the remaining economic rubble.