The underlying data from numerous sources shows an economy, at the micro level, hardly deserving of such a positive report from the Conference Board.
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Is this the big one? Is this the end of the long bubble the Fed has been blowing since 2008? Could be.
By failing to include in its analysis anything to do with the massive unfunded liabilities the government faces, S&P’s announcement becomes totally useless and counterproductive. By failing to inform, it becomes a party to the crime.
Ferrara should have used the recovery from the Depression of 1920-21 as his model, when the relatively free market rebounded mightily, recovering fully within 18 months.
SNAP has grown so fast and now costs so much that mere nibbling around the edges as proposed by Thune and Stutzman will have no effect.
Bonner and I are seeing the same things. That’s comforting in one sense and unnerving in another. There are times when I wish I were wrong.
These are the brightest people on the planet, aren’t they? Aren’t they?
The German model highly touted as the perfect solution to reviving economies has now been shown to be not only a myth but a fraud.
Watts may be a pariah but he’s right.
Once in a while a guy gets lucky. This article appeared at MIA last Friday. Since then the market has tipped over. It may continue its downward slide, or may rebound slightly first. But these two very smart people think the parabolic exponential rise in stock prices is over. So do I.