tag:blogger.com,1999:blog-2761684730989137546.post3941311557768080318..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Stock market skids lower, as predicted by this blogmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-46777959928682539132010-01-21T11:45:18.070-05:002010-01-21T11:45:18.070-05:00I own several still and I'm not selling them, ...I own several still and I'm not selling them, although I admit that they'll take a hit with as the market turns down, generally.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-44746334372919117102010-01-21T11:37:30.175-05:002010-01-21T11:37:30.175-05:00Ok fine mike. Looks like you may have hit it just ...Ok fine mike. Looks like you may have hit it just right. You still bullish on the home-buidlers.bubbleRefugehttps://www.blogger.com/profile/17519418009762139033noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-81105514013165395322010-01-21T11:32:49.279-05:002010-01-21T11:32:49.279-05:00Yes, China succumbed to the same irrational, misgu...Yes, China succumbed to the same irrational, misguided "analysis" and criticism that we get here. That's too bad. In the case of China I do think it's a buying opportunity at some point. They'll keep the lending going at the first sign of wobbling. On the other hand I think that we will see aggressive measures toward deficit reduction here. The political pressures for this to happen are just too great. Perhaps we could see deficit reduction policies curtailed or jettisoned completely at some point down the road, but only when things have gotten really bad again. I am now at much higher cash levels than anytime in the past year and have bought a number of short stock ETF's.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-24433438870946549412010-01-21T11:20:23.784-05:002010-01-21T11:20:23.784-05:00Mike, I think fiscal policy is still very stimulat...Mike, I think fiscal policy is still very stimulative at this point with the automatic stabilizers blazing away. Yes there has been talk about reigning things in, but I don't see any tax increases coming down the pike. What is happening in the markets may be more of a reaction to possible curbs on proprietary trading at commercial banks + China restricting bank lending + a very strong bull run of late creating expectations for a pullback ( ie a technical pullback). Why not buy the dip?bubbleRefugehttps://www.blogger.com/profile/17519418009762139033noreply@blogger.com