More from David Rosenberg, who sees the market as heavily propped up by the Fed. This is his expectations for the next year:
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That’s all, folks!
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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January 14th, 2011 at 2:33 pm
stock market != economy
January 14th, 2011 at 3:36 pm
Alterative – J. Wellington Wimpy Market
Wimpy, more formally known as J. Wellington Wimpy, is notoriously thrifty but loves to eat and do things that cost money. He often says “I’ll gladly pay you Tuesday for a hamburger today”. This parsimony doesn’t just apply to hamburgers – Wimpy tries to get it all for free. Despite this, when Popeye and Bluto are business competitors, they always seek Wimpy’s patronage. Wimpy wears a bowler hat and is rotund in stature.
http://wharble.com/Popeye_Characters.htm
J. Wellington Wimpy – A preppy name for a character who claims the “Yankee” characteristic of thrift but tries to do it all on credit. The name reminds me of all the “Ivy League” experts advising adding more debt to the public balance sheet so we can get our hamburgers today.
January 14th, 2011 at 7:14 pm
Used the Wile E. Coyote schtick myself in November 2007, right here. Not a bad call, in retrospect.
January 15th, 2011 at 8:54 am
Great charts.
Makes it pretty simple. And obvious.
Now what?