Stock Market in for a rough ride
Hold onto your money. The ride is about to get a whole lot worse. The economic turmoil over in Europe is just starting. For years, European nations have felt that the spend money until there is no tommorrow philosphy would never end. Unfortunately, the ways of socialistic governments meets the bottom line truth. Eventually you run out of money to try and extend to every government program on the face of the earth. Greece made a major miscalculation. Spain and Portugal are next to feel the burn. The United Kingdom is just on their tail. Even China is staring down the barrel of economic trouble in the next twelve to eighteen months.
Here at home, we have a economy that is still fragile and is not getting better anytime soon. Companies are showing losses, jobs still are not there for millions of people, and the spending is down. Not a good recipe for success. Hopefully Obama reverses course and ceases all tax hikes. Cut the marginal rates and give companies and the wealthy more money to reinvest. It works, ask Reagan. The US Congress needs to kill all new spending bills and start cutting down our deficit. Our kids and grandkids will pay if we don't start now.
If you are riding out the long-term, hold onto your money. Don't panic, eventually things do get better. History teaches us that the cycles do go back up at some point. If you're in for the short term, well good luck. The market looks to be heading down for quite a while.