Surviving The New New Economy

Mortgages, computers and--careful now--some stocks are in the bargain bin

Cash is king on Wall Street again--made clear last week in the flight from both stocks and bonds. Sopping up investment dollars were ultrasafe short-term Treasury notes and money-market funds and--get this--gold-mining stocks. Gold hasn't been a great investment in decades, and probably won't be anytime soon. So take the asset shuffle for what it is: a knee-jerk response by money managers who must show their hand to clients each quarter.

Does that mean you should ignore the financial fallout of what CNN is calling America's New War? Not at all. A recession is all but certain. Yet economically speaking, things...

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