Is has been said the darkest moment is just before the sunrises. Today there was a lot of positve news flowing out to the market. First, Citi Bank CEO said they made a profit for the first two months of this year. Of course, one needs to understand what exactly profit means in order to understand whether he is being truthful.
And with all the CEO's lying through their teeth lately, I have some doubt. Call it being gun shy, but i have a few bullet holes in me as a result of trusting these bankers. Nevertheless the market took it in stride and shot up today.
Then the fed chairman comes out and says he believe the recession will end by the end of the year. I've actually heard him say this several times over the past month, but he was also saying last year that it wouldn't be as bad as it is today. Hummm...does he truely know what's going on out here?
And here we are in California with 10+ pus unemployment and going up and their going to raise taxes? I finally understand...we're going to tax our selve to property! Wow what a brilliant idea. The last guy to try that was Jimmy Carter, and now Barack Obama.
All that being said, the stock markets performance was impressive today. The stock market is a leading indicator of what's to come. I believe if we see a stabalization of the stock market over the next few months, then perhaps the Fed Chairman is correct that the recession will end by the end of the year.
If this is true, then the time to buy assets is now before the demand for them turns-up and prices go up as well. Restaurants is one of those assets that will experience appreciation after getting beat-down to rediculous prices.
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