Everything I'm hearing this week is that we are basically in a Recession and Inflation is running rampant. Warren Buffet is saying its a recession, Jim Kramer is saying its a recession, Chris Bell is saying its a recession. Gas at the pumps in California are $4-5 dollars a gallon. A barrel of oil reached $106 this week. Bank stocks are in the tank.
Speeking of bank stocks, have you looked at your Mutual Funds lately? I keep watching mine slide and as I look into them, they all seem to have a significant percentage of Financials in them. Financial Sector stocks have been stable for so long that it seems all the mutual funds are loaded up with them.
The jobs report released today says 63,000 jobs were cut this past month. This is not a typo. 63,000 jobs in a MONTH. Investors had been expecting a 25,000 gain for the month.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment