I read ten newspapers a day and there is so much information that I end by thinking -- I trust in the Dow Jones averages to tell me the real story. As I write half an hour before the close, the Industrial average continues to be range bound with a floor of 17,000 and a record high of 17,138.20. My real thought is that a bear market is needed and the old institution needs to be wiped out, and a new economic system must be instituted. Before the new can come about, the old must be erased. Of course the current Keynesian system believes that growth can continue forever. All that's needed is experts (Federal Reserve) to control the markets. In other words, the Fed believes that the tree can grow to the sky. And that's the Achilles' heel of the capitalist system. So far the Dow Jones averages are not ... Log in or subscribe to continue reading.
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