What’s Going On In The World?
I’m pretty busy these days, but here’s a round up of what I’m watching in the markets and the world in general.
Stock markets continue to be volatile with weak jobs/economic data and especially fears over the Europe situation. The European debt crisis will have to come to a head at some point, so it probably makes sense to hold out until it does. What will that look like? A Greek restructuring of debt at a minimum.
When it comes to a head, it will bring markets down especially multinationals affected by the Euro. One stock in particular is Philip Morris Int’l (PM). When the crisis peaks, buy a little PM. Then hang on to it for a decade or two.
Oh yeah, gold continues to kill stocks. I’ve only been telling you this would happen for three years now. The run isn’t over.
What a joke the Obama speech was. More stimulus (we’ve done that), unemployment benefits extensions (doesn’t help the economy) and payroll tax cuts (again we were already doing that). So what was so big about this? Um, nothing.
It would have been better for Obama to stand up and say “I’m going to get out of the way because I’ve realized government cannot create jobs. I apologize for interfering in the economy for three years.”
Sorta like how Ron Paul is… who if you haven’t been paying attention is awesome to watch in the Republican debates. Forget the rest of them – Gingrich is interesting sometimes and I like a few things about Herman Cain, but forget Romney, Perry, Bachmann. Gah, I want to throw up thinking about them.
Here’s the highlights from Ron Paul at the recent debate. Only guy in Washington who attempts to defend the Constitution and liberty. How far we’ve come.