Has the world gone Crazy?

3 minutes after Google reported its results the stock jumped to $500 from the close of $449. As I write this it is trading at $528. This is $79 above the close.

Of course Google is a growth company but it is also an advertising company. Advertising companies take a beating in a slowing US economy.

What is going on with the world these days? People use their homes as an ATM machines and the stock market as the big mother of a casino.

I am glad it is not my money especially when the whole thing turns out to be a bear market rally or to use a more common term, a sucker's rally.

Some people say the rest of the world will keep the profits up so things are going to be alright.

I think this is Bull.

For example: In Canada people talk about the decoupling of our economy from that of the US. Well, home resale took a hair cut of 13% year-to-date.

And guess what, the BRIC economies will follow suit. What is going to happen to China when the Olympics are over. Or may India when food pricing keeps on rising. Don't forget the speculator have taken hold of oil and they are driving its price higher and higher.

Stay tuned for my thoughts on why I don't believe in "The buy and Hold Strategy"