Opinion: Justifiable Pessimism Over Obama Hype

DO THE READING; DO THE WATCHING ... THEN DO THE WORK!

Do the work yourself! Do your own thinking; and then make a decision as to whether you believe the folks on TV and in print. Most are full of crap. Most are so enamored with themselves that they have completely lost objectivity -- and ironically, most viewers/readers are looking for them to provide that objectivity that they so clearly lack.

And as you hear various commentators talking about returning to the prosperity of the 90's, I'd urge you to consider three defining developments that trump any policies of the 90's that supposedly contributed to our prosperity:

1.Intel's (INTC Quote) Pentium Chip;
2.Microsoft (MSFT Quote) Windows; and
3.The Internet.

We have no such technological developments now. Battery-powered cars and solar panels aren't the panacea that most folks seek. Nor are new bridges and roads (unless you're a bridge or road builder).

Focus on making money off this impending fiasco ... but if you believe that it is going to hasten the economic recovery, then you are likely smoking something illegal and only occasionally used for medicinal purposes.

Is the market going to zero? No! Absolutely not. Perhaps we've even put in THE bottom. This year will be volatile, with ample opportunities to make plenty of money on the swings of the market. Be bullish on the despair-ridden pullbacks; Be skeptical on the enthusiasm-ridden ramps. As Buffett says: "Be greedy when others are fearful; be fearful when others are greedy." Again, do your own work...do your own critical thinking. And believe in yourself rather than buy into what others (including me) are saying!