Thursday, February 26, 2009

LOL --Kudlow Kills Me

He is on CNBC right now saying that we are about to see a new bottom. (Big head shake).

The simple fact is, a bottom will not be reached until investors actually think (believe) that good, safe companies are both good and safe. Until that confidence returns their will be no bottom.

It has nothing to do with the confidence of the president, or the confidence of the fed. Rescuing the right companies is a start. It might help accelerate the stabilizing of those companies; but, until the consumer sees securities of large banks as being as safe as treasuries a bottom is no where in sight.

That is not to say we could not hit a bottom, but anyone who believes they can see a bottom is smoking a prohibited substance.

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