Making an argument of the market's direction going forward. Some can say the economic stimulus provided by the Federal Reserve will stimulate the economy, along with the spending package of Obama, while its true this will keep the economy at least moving, it will not relieve the anxiety of the american consumer. Face it most americans are tapped out and still dealing with the excesses they have incurred during the past decade, true the lower gas prices will assist in dealing with their mounting bills, but higher real estate taxes, food cost, and utility bills will easily eat up any excess savings from fuel cost.
There is also a matter of confidence that has shaken most americans, thou most of us are very strong willed, many of us have witnessed alot of activity these past eight years that will take awhile to forget, the collapse of home prices, the general feeling that there are two sets of rules, those who have the money make the rules, the rest of us end up paying for their mistakes by living in an enviroment of higher unemployment, more stress on the job, and a general feeling of dismay about living the american dream.
I would like to be optimistic about next year, at least we will have a new President, and the country is looking forward to a new direction, the world's violence might also subside due to a winding down in the Iraq War, but there are still many problems that still exist on the world stage.
Making a case for being Bullish or Bearish can be made, again I would thoroughtly enjoy a market that begins to make some upward progress, but until that day happens I will reamin cautious.
zab
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