On a day when the National Bureau of Economic Research says the current recession is both official and a full year old and the Federal Reserve Chairman says he's willing to cut interest rates from an already rock-bottom 1 percent, the contrarian in me expected to see at least a few folks start shouting "Buy!"
That's because during most downturns, by the time a recession is officially announced, the damage has already been done in stocks. That, mixed with possible rate cuts that are "certainly feasible," according to Ben Bernanke, should theoretically be good news for battered shares. Not this time. Here's why:
Posts
0 comments:
Post a Comment