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Business news without the bullshit
Financial news reporters hate guys like this
Broadcast in August, 2011
"Buy, buy, buy" - that's all the networks know
Think of CNBS and Fox News and all the other financial "news" outlets as 24/7 infomercials for the brokerage industry.
Because that's exactly what they are.
Their advertising clients don't make money unless you "buy-buy-buy" so that's why everything is couched in terms of what to buy next.
Sometimes - like now - the smart thing to do is "do nothing."
Actually, holding US dollars in a safe place - short term Treasuries, 100% short term treasury funds, bank deposits in well run banks, actual cash - is doing something.
This became especially clear this past week.
If you did "nothing", you woke up Friday able to buy a lot more of everything - gold, silver, copper, grains, Euros, Swiss Francs, Canadian dollars, and lots and lots of other commodities.
Most investors feel the need to "always be playing" and the financial infomercial networks feed that ruinous habit.
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