Legendary investor Warren Buffett is bullish on the country's economic future, exuberantly telling shareholders in his annual letter that the country's "best days lie ahead."
The Oracle of Omaha, who is one of the most widely followed and influential financiers, predicted current hardships are merely a hiccup in the country's long tradition of innovation and growth.
"Money will always flow towards opportunity, and there is an abundance of that in America," he wrote in the 26-page report.
See the full article here:
http://www.nypost.com/p/news/business/oracle_of_omaha_sees_bright_us_future_t0cjmH9uEoLidsRakqbSSI#ixzz1F9g9v6eK
At the beginning of 2011, USA Today reported a forecast by Ned Davis Research which said the S&P 500 will make a run at the 2007 high of 1,565, but hit a "midyear peak." Then it will crash as interest rates rise.
The Wall Street Journal says, "Inflation jitters spread through emerging markets, prompting China’s central bank to raise interest rate for the third time in four months amid worries that a drought threatening the country’s wheat crop will put further pressure on global food prices."
With commodity prices rising rapidly, all the rationalizations Wall Street uses to keep the Federal Reserve’s interest rates low are rapidly vaporizing.
Jeremy Grantham, whose firm manages $107 billion: "... you should pull back from the market as it advances into dangerously overpriced territory ... by October 1 you should probably be thinking much more conservatively."
Translation: Get the heck out of Wall Street’s stock market casino soon, maybe as early as July 4th, and definitely get out by Christmas.
See the full article here: http://www.marketwatch.com/story/market-crash-2011-it-will-hit-by-christmas-2011-02-22?pagenumber=1
