Good discussion of this week's economic data and market sentiment. I have been saying for several months that we were sensing eerie shades of 2008 in our indicators.
The business cycle is reasserting itself toward contraction despite herculean efforts by governments to arrest it. The secular cycle of contracting credit and disinflation is bigger than anyone's opinion, optimism or confident assertions. Note this is happening despite all the bullish hopes about Asian population driving demand. We fight reality at our peril. What is that line about having the wisdom to accept the things we cannot change? Self-preservation over wild risk-taking is the theme of the day.
Cory’s Chart Corner
“An explosive critique about the investment industry: provocative and well worth reading.”
“Juggling Dynamite, #1 pick for best new books about money and markets.”
“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.”