A Thinly Veiled Disaster Looms
Three months ago I wrote a column titled "Invest in the Basics," and the gist of it was simple. The strategy was to take a defensive position in equities, thus preparing for a 2012 downturn in economic activity that would likely cause a downside correction in the major indices, and particularly in growth stocks. Although the U.S. stock market has performed well since that point, I am even more concerned about 2012 now than I was then.
A week ago I wrote the column "Eerie Echoes of 2008," and since then the International Energy Agency has warned that global oil demand is now falling. This is not a decrease in the rate of growth -- it is an actual reduction in consumption of oil for the first time since the 2008-to-2009 economic crisis....653 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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