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Worry not about the steepness of the climb. This bad boy's totally sustainable. I can feel it in my bones.
Yow 10,000! Put on the party hats! Just look at all that momentum! This economy is unstoppable again! Now that one of the last bears has finally capitulated, what could possibly go wrong?
October 20, 2013
Top Bear's Bullish Tilt Has Followers Growling
One of Wall Street's leading bears has turned more bullish, riling some longtime clients.
Gotta love his timing. I guess he just needed confirmation that the stock market was a sure thing. It's climbed 160% over the last 4 years or so. Sure thing it is! Can't lose! What more proof do you need? The government will soon be rolling in too much revenue. We'll be too prosperous! That's right. You heard me. I'm capitulating too!
Mr. Rosenberg became more positive on stocks when he determined that chances of another economic downturn had dropped amid the Federal Reserve's aggressive actions.
No more economic downturns! No unintended consequences! Just genius move after genius move by the very same Fed who could not spot a housing bubble as it was peaking. Hurray! I'm talking directly to you Ben "There Is No Housing Bubble to Go Bust" Bernanke. Well played, sir. Well played.
There's gravy and biscuits in it for you, and by that I mean gobs of money. - Claptrap, Borderlands
Disclosure: I'm not really capitulating. I trust this economy long-term about as far as I can throw up. (Over Fed pun intended.)
Source Data:
St. Louis Fed: Custom Chart
2 comments:
http://research.stlouisfed.org/fred2/graph/?g=nZI
blue is job expansion YOY. red is working-age YOY growth.
The 1990s were pretty good, bookended by the two purgative recessions.
The 2008-2009 recession was just a collapse of the illusion, but we're using new bubble machines now.
I think it's steady-as-she-goes for the remainder of the decade.
Baby boom is aged 49 to 67 now and the median boomer is pushing 60. Not every boomer is going to retire at 62, but many can, and this will be a new paradigm for us -- a replacement economy not a straight growth one.
The only thing that matter to the middle class is the Distribution. The Cheese must flow!
Troy,
I think it's steady-as-she-goes for the remainder of the decade.
I am not in that camp. Time will tell.
The only thing that matter to the middle class is the Distribution. The Cheese must flow!
I don't believe the cheese is flowing all that well. There's a hardening of the arterials. This does not bode well for the brick and mortar retail businesses which employ many millions of workers.
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