I don't think stocks got more valuable today. I think the dollars they are denominated got less valuable today. I traded some dollars for an equity participation in going concerns which, while growing slowly by recent standards, are actually profitable and pay dividends which are far better than five year treasuries. In five years, what will the budget deficit look like? How many more hot checks will the Bush administration write?I am not buying stocks. I am selling dollars because I like Exxon's paper better than Dubya's paper.
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