I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
Sentiment: POSITIVE
The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.
One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.
I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.
I hope there will be some good news and some good profits, and people will realize we have a lot of outstanding executives, and a lot of companies that are doing a good job, and those are good companies to invest in.
As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius.
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.
More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient, even in the United States. It does mean that there is more access for savvy investors who watch the money flows.
After several trillion dollars of stimulation by the Obama Administration and the Fed, one might think the economy would be chugging along at a pretty good clip. But, it just isn't so, and the light at the end of the tunnel is pretty dim. Just ask a small business owner.
Market forces will one day crush the Federal Reserve. One day, the market forces will reverse.
Actually, one of the better indicators historically of how well the stock market will do is just a Gallup poll, when you ask Americans if you think it's a good time to invest in stocks, except it goes the opposite direction of what you would expect. When the markets going up, it in fact makes it more prone toward decline.