http://cr4re.com/charts/charts.html#category=Employment&chart=EmployPopAug2011.jpg

http://media.bloomberg.com/bb/avfile/Markets/Analyst_Calls/v_ka6_zcl_i0.mp3

Basically we have a lot of volatility. As you know over the last 12 months the S&P 500 Index rose from 1010 on July 1st, 2010 to a peak on May 2nd of 1370. Then we dropped to 1101 and now we are at 1178. So we have a lot of volatility.

I think the market may rebound somewhat more here because we are very oversold and some technical indicators have turned positive including insider buying. But in general I think it will be extremely difficult for stocks to make a new high and after this rebound I think we will drift lower.

Not to say that we will collapse because if the S&P 500 Index drops to 1000 or so, the Fed would certainly pump again money into the system

I’m not that negative about equities. If you’re bearish about the world, you’ll probably be better off in equities than in government bonds and cash.

he corporate sector is not spending much money on capital investments and new investments — that’s why they have this huge hoard of cash. There will be many more takeovers and industry consolidation in the years ahead. It destroys jobs, but this is what will happen. As industries consolidate, they get more pricing power, and the cost of living increases.

Singapore is the greatest success story in the past 40 years for a country. If Singapore closes up, it’s the beginning of the end.

have frequently told people that one of the best investments in the world will be farmland.

You've got to buy in a place where it rains, and you have to have a farmer who knows what he's doing. If you can do that, you will make a double whammy because the crops are becoming more valuable.