THE SKY IS FALLING! THE DOW JONES IS PLUMMETING! Larry Kudlow has some reasons to keep the faith:
For those who still hold to the longer-term view of personal finance, which is the key to successful investing, today’s market averages look to be nearly 40% undervalued.
For those policy makers among you, a 4% economy could be turned into a 6% economy over the next few years if the government would reliquify the gold price to $350 (or even $400), eliminate the double taxation of dividends, lower the capital gains tax, and accelerate planned income-tax cuts. Add to that the elimination of the steel tariff and a once-and-for-all dead Osama bin Laden, and we’ll be sitting pretty.
For those of you who have faith, now’s the time to rely on it. Faith defeats the forces of darkness. Faith brings on the forces of good. The stock market has survived tough runs before, and it will do so again.