Since I'll be on vacation in Scotland until September 19, I'll miss all the buildup and hype to Tuesday's Fed meeting. Shucks. So I have some general thoughts.
The markets have been in the "stomping elephants" phase for a few weeks - all those beefers are swinging big bets around trying to find the new trend as the old waterhole dried up. Economies are built on the decisions of billions of people worldwide - they tend to continue to do the same things unless shocked into rethinking. So I think the world economy will do fine and continue to grow unless new, hard shocks occur.
And with the increased economic freedom of billions as the old socialist regimes died or are dying, free people will work to improve their lives. That means solid economic growth. China, India, some South America nations and Eastern Europe are the growth engines for the world.
So barring the Fed fools or the ECB or other government dopes, like Congress, messing the world up, Ms Market should be very kind to us over time and treat us very well.
It's still a bull market.
PS: Next vacation I'll try to get a guest blogger. I just didn't think about it in time.
PPS: Babblevision has that dope, Peter Beutel, on - sheesh - he's been talking that oil is going to $30 since it was $50. What a fool! Or knave?