Reply #11: It is more than that [View All]

[still_one]

the consumer's debt load is rising, and with rising interest rates along with all the wonderful equity lines of credit that were taken out when interest rates were lower, the consumer is getting burdened by more expensive debt.

If interest rates continue to rise, that is NOT compatiable with an upward market. For the last four years the so-called analysts have been telling us that energy prices would settle below 50. That has not happened. In fact it wasn't that long ago when OPEC was telling us that 35 dollars a barrel was a fair price. I expect energy prices will remain high in the forseeable future. This issue should have been addressed in 1973, and it still is being ignored.

I agree that no matter how much manupulation there is, the market will eventually face reality. I also believe that we are reaching a critical top in the market, that cannot be sustained.

It looks like the dow will open up at about 65 this morning.

Interesting that oil futures and gold are up again this morning.