Monday, October 01, 2007

Stocks hit an all time high......but what's up with our economy?




I see evidence of the housing crunch....foreclosures still on the rise.....prices going up....the dollar getting weaker. Then, the news below that our country is being bought up by foreign interests who find their strong currency is making "bargain deals" out of our technology and companies that we have for sale.

I
guess this might be the reason a market will rise (supply and demand), but it can't be good for our country....can it? (everything seems "soft", and there is constant talk of recession)

So why does the stock market continue to rise? Are we looking at another 2000 market bubble ready to go bust? (Is that the pessimist in me talking, or the guy who rode out the 2000 stock market free-fall?)

I'm a buy and hold guy for sure.....but this worries me.
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Foreign buyouts raise US fears as weaker dollar drives deals

Weakened dollar has investors pouncing

Foreign firms are taking advantage of the weaker dollar to buy US companies at a record pace that is boosting investment here but also raising fears about a potential loss of jobs and autonomy.

In New England alone, 69 companies have been sold to foreign buyers in the first nine months of 2007 for a total of $30.8 billion, more than in any full year since 2000, the height of the high-tech boom, according to New York research firm Thomson Financial.

"We could be looking at the world's largest tag sale if we continue to see declines in the dollar," said Donald Klepper-Smith, chief economist for the New Haven firm DataCore Partners.

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