Only a blooming idiot would expect a quick turnaround of an economy as tortured as ours. The stock rallies are simply bargain hunters realizing that the markets have nowhere to go but up, eventually!!! Investors have absolutely no choice but to pick through the charred remains of their own bonfire of greed. The economy is shifting which dictates a tremendous shift of wealth from old money (usually based upon petroleum related investments) to new money (based upon technology, innovation and new ideas) namely alternative energies. Because alternative energies are "in-house" domestically produced via wind, geothermal, solar, biomass, hydrogen, etc... the revenues may remain in-house to be reinvested repeatedly versus exported to OPEC and lost to domestic investors. The new economy will explode upon the world very soon yet will be fraught with challenges as was the new petroleum economy during the 1890s - 1920s when everyone experimented with automobiles fueled from electric, diesel, hydrogen, steam, animals, whale oil, wind, alcohol, etc... until gasoline finally became popular. It took the Ford Model T to truly solidify the new oil based economy ergo it will take another "Model T" to solidify our new tech based economy for which I propose will be the Hydrogen Zero-emission Fuel Cell based autos with the Honda Clarity currently as the leading most numerous model. We shall see, yet the bargain hunting and positioning will continue till inaugeration day when the action truly will begin!!!
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Ray Fisher of NM @ Jan 06, 2009 12:05:38 PM
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