The data is not that bad
I think I am very objective in reviewing the economic data. What I see is an extreme pessimism that selects out the negative data and ignore the positive data. They have a vested interest in so...
View ArticleThe markets have recovered but lots of dangers remain
No question that there has been a marked improvement in the US economic data and the Europeans markets have rallied steadily for the past 5 weeks as well particularly in the wake ECB President Mario...
View ArticleWe look due for a market correction
For a few months we have argued that the US economic data has actually been improving more than investors appreciated and that the expectation for a double-dip recession didn’t look to be in the cards....
View ArticleThe markets are too sanguine: there may be no deal on the ‘fiscal cliff’
I could never understand the basis for the optimistic assessment that there would be a deal. The fact is, the GOP has made no concession to the new electoral realities implied by the election. The...
View ArticleMoral hazard leads to the great complacency in markets
Markets are close to breaching highs reached in 2007. Here we are back to the all time highs in the stock market with the weakest economic recovery ever and still very high debt. All in a weak world...
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