The End is Near

Perhaps it is due to irrational exuberance from the stock market bounce today. I came across two articles today which appear to indicate that the financial markets have hit rock bottom and is due for a turnaround. The first article is titled "The End of Economic Growth". The article suggests that perhaps we may be entering a critical phase where economic crash will merge with ecological crash, and 2008 may be the year of "the Great Disruption". This reminds me that we have gone through a "new paradigm" once in the 1980s with leveraged buyouts, and then again in the 1990s internet boom. My father-in-law tells me of his experience in the 1970s with rampant inflation, oil shock and gold prices, and the end of the world as everyone knew it, also a so-called "new paradigm". The doomsayers are out, and the end is near, a "new paradigm" is emerging, which signals to me BUY BUY BUY. The other article concerns Macquarie Bank written by a once staunch supporter who was bullish on the stock. Now he has thrown in the towel, and citing Charlie Munger to wit. Reminds me of James Cramer's story- the market bottoms when the most bullish of the bulls throw in the towel.

We'll see.