interesting times and paranoid economicist! – google earnings
I think Google (GOOG) earnings say a lot about our current economic “crisis” which isn’t much a crisis at all but politicians trying to force Americans into thinking paranoid about their well being to get more control behind the government. That stated Google did fine this quarter. It is up +10% after earning of a profitable quarter. The CEO is smart. They are going to conserve more and take away a lot of the goodies the dish out to employees to save money during the slow cycle we are currently in. America goes through up’s and down’s. Some longer then others. I’m clearly not worried. I’m sure our government will print more money lower interest rates and slowly the cycle will get better and Americans will “regain the confidence level in buying” and maybe just maybe (and when) Obama becomes President if his goal is #1 energy he will spend spend spend on light rail systems, creating denser more populated cities, and have more energy efficent cars like hydrogren and bring back nuclear power plants to power America more efficiently. GOOG has proved internet stocks (tech in general) is still alive and kicking. America is still alive. Yes, home prices are down inflation WILL keep creeping up but you might as well get use to it, I have. Paranoia creates paranoia and negativity IS addicting. So although no one is optimistic I will keep my stance on being very optimistic.
Now I do admit the DJIA and NAS are in downtrend cycles and even with a big +976pt day (supposedly the best day every for wall street) the market will continue to fall after the short brief bump up. It’s okay. Our markets have gained a lot so we have a lot of room to lose then make back up. People keep asking me with a downtrending market what should I buy? I say nothing. I say wait until the President is elected. Then consider buying energy if Obama wins and technology if McCain wins. I actually tell everyone EVERYONE to buy real estate right now instead of stocks.
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This entry was posted on October 16, 2008 by Paul Awol. It was filed under trading stock options and was tagged with buy real estate now in dead market, DJIA falling and in a downtrend, economic cycles, economic mood poll, goog, google earnings, mccain, negativity, obama for president, smart ceo's, staying optimistic about America in hard times, tech is still alive, what do you think of our current economic cycle?.