dr.doolittle

Sector Update as of November 8

interest rates were at 5% one year ago, now they're back at 1%, the rate at which everyone on Wall Street now says caused the chaos. Isn't it appropriate that Wall Street was the one that blew up, then? Having said that, outside of the "financial" class where's the recession? Perhaps more accurately, where's the "market" blow-up? By this I mean the actual trade in goods and services and the commensurate mass bankruptcies? Outside of the auto industry which simply overcharges for an inferior product and some retailers I still don't see it. On top of that, the government is spending like a drunken sailor--how does that tell you the appropriate way to run your business? Once the flow of goods stop then MAYBE we can call that a recession, although I don't see any invading Army on our border and coming for use anytime soon. Until then it seems that we're only in the process of price discovery and it appears to me "bailing out" perfectly healthy banks--and now a select few stocks are moving higher instead of all trending lower. Excepting what Pelosi and Reed are blabbing about, this all strikes me as extremely bullish in a "selective" way.