Sunday, August 23, 2009

Are the Bulls in Charge, or What?

From MarketWatch today:

Data to drive stocks higher
Raft of reports in coming week expected to further encourage bulls, keep stocks on upward path.

This is getting ridiculous. Did we even see this sort of stuff in 1999?

Copyright (C) Long Lake LLC 2009

1 comment:

  1. Doctor,

    We few, we lucky few - witnesses to the start of history's biggest financial bubble. The Fed's policy of low interest rates and rivers of liquidity failed to start GDII in 2007, but their current policy of ultra-low interest rates and oceans of liquidity will do the trick. Give it a few years, if that.

    Einstein's definition of insanity seems to apply here.

    It is hard work doing what needs to be done - increasing the real income of the middle-class. Inflating the nominal value of assets is much easier and can accomplished before the next election in 2010. Bernancke will secure re-appointment from his political masters as his reward. The elite will be fat, dumb, and happy.

    The rest of us will be left holding the bag. On inspection, we'll find the bag to be just about empty.