Wednesday, March 02, 2005

Throwing Down the Gauntlet

Bill Cara is throwing down the gauntlet! Bill states that we have reached the cycle high on the Dow 30 at 10,869. Bill adds some advice as well, "Sell stocks. Sell bonds. Clear your debts, including short-term mortgages. Accumulate cash. Buy gold. And, if you’ve got a job, hope you can keep it." Kind of scary talk coming from Mr. Cara.

It seems what Chairman Alan Greenspan said today got to him. Here are the Chairman's actual words.

Not a good quote from his speech:

"I fear that we may have already committed more physical resources to the baby-boom generation in its retirement years than our economy has the capacity to deliver."

Best Regards,

The Soothsayer of Omaha


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