Somehow yesterday had an END OF AN ERA feel about it.
Consider:
The FIRST GREENSPAN BUBBLE was based on the Internet and the "New
Economy." When that fizzled, we had the crash.
The SECOND GREENSPAN BUBBLE was based on ULTRA-LOW INTEREST RATES.
And now that is becoming a problem. First the Dollar is down big,
and the speculative parts of the markets are up big. Additionally,
commodity prices and gold have risen.
SO, IS THE ULTRA-LOW RATES MOJO GOING THE WAY OF THE "NEW ECONOMY?"
Well, THAT is the question isn't it.
And the real kicker is that all of this trouble is occuring during an
election year. And, it is very possible that Wall Streets Favorite,
Dubya, will not win!
What's next?
LOWER DOLLAR! LOWER STOCKS! LOWER BONDS!
HIGHER UNEMPLOYMENT! HIGER INTEREST RATES!
AND A DEMOCRAT IN THE WHITE HOUSE!
Like I said: This feels like the early days of THE END OF AN ERA!
BECAUSE, WHAT'S THE "NEXT MOJO?" I don't see it yet.
