Mostly rational politics, with occasional rants about how a few crazy Republicans are ruining the country.
Support The Jaker
Tuesday, April 19, 2005
What's up with the market?
Friday was the worst day for the market in 3 years. If you've been reading consistently, you know that I'm currently a bear on the market, as this post from two weeks ago shows. At least it came back strong today. I continue to think the downside risk significantly outweighs the upside.
Continuing my following of Krugman, his column today warns of the possibility of stagflation - the nasty combo of inflation and high unemployment. In fact he says it may already be here. Is his column a big stock-market warning? I don't know. But today's rally has tempted me to sell a bit in advance of the next last Friday.