I used to keep 95% in stocks.
I’m at my historic low of 50% stock / 50% cash and short bonds.
There’s nowhere in the world to make money with an optimistic outlook.
The whole world is pursuing horrible economic policy.
Until someone somewhere rejects Keynesianism, we’re all going to just feel lousy, earn no money, and be underemployed, and fight one another for scraps.
Democrats will love it, because Envy is their primary political tactic. Creating wealth is not their goal. Creating Envy is their goal.
We are not coming back.
I see PIMCO has taken a short position on the market and is trying to make sure they can cash in.
What I find stunning is the level of ambivalence the stock market has had for the terrible economic conditions worldwide. The market is trading like nothing is wrong in the world.
The idea that there is a mass of corporate cash reserves is another myth spouted by the Wall Street lackeys over at Fox Business News, CNBC and Bloomberg. If that were so why not funnel all those reserves into big dividend payouts?