I do realize a big piece of the sales comes from outside of the USA. That is part of the problem. Too bad they don’t sell to another solar system, because the whole world is interconnected and in trouble. By ourselves we might be able to pull through, though even that is only superficially true.
We borrow money from everywhere in the world because our people don't save enough to fund our own treasury needs.
Much of Europe is in worse shape than we, Japan is on the ropes, and China isn't going to hurt themselves to save the rest of the world from slow growth or negative growth, and they probably couldn’t do it if they wanted to. There are only a few countries in the worlds that aren’t over levered in debt.
I can see some specialized companies doing ok, successful biotechs are one.
But as people take money out of the market and don’t put fresh cash in the market, it will mean that the price of all stocks can decline regardless of merit. How will biotechs with no revenue streams get funded if the market is hurting for cash? Maybe a few will get bought out, most will have to lay off or shut down if they can’t get funding. Stock that don’t pay dividends could go to a 10-12 PE, that would be quite a decline.
And I don’t know if you are speaking about cash burning biotechs or cash producing oil companies.
I keep expecting some sort of rally, but we also could fall a lot further before that happens.
I heard one talking head on CNBC say the price of oil should go up to 90 even if stocks decline, but he didn't give his reasoning. Any comments on oil prices?
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