Time to Buy????

Art Laffer, in the Wall Street Journal today, threw out 48% for stocks being undervalued and Larry Kudlow threw out 40% in this article.

For those who still despair at a lack of good news, please read Michael Mandel's latest Business Week article. It shows that productivity, incomes, wages and real stock prices are still considerably higher than they were in 1995. The basket of bad corporate apples may be turning into a barrel, but underlying prosperity trends are still in place.

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 percent undervalued.

For those policymakers among you, a 4 percent economy could be turned into a 6 percent economy over the next few years if the government would re-liquify 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.