Tuesday, November 19, 2013
Liz Ann Sonders from Schwab on Nightly Business Report
Here's Liz Ann Sonders on NBR 3 or 4 weeks ago.
And anything she said 4 weeks ago still applies today, because it's not as if the market is rapidly changing from day to day; only people's crack-fueled emotions are.
I like her bit about "muscle memory", btw: it explains how a secular bull market can start without much public participation.
Everyone's still scared of the last two crashes, and so they keep surfing to retard sites like ZeroHedge (and Max Keiser: people take that KGB-funded clown seriously?) looking for confirmation of their worst fears.
And they see the opinions of financial illiterates calling for doom, and so they stay out of the market, waiting for the next crash and "great reset", saying "I'm not going to invest in the US economy while they still practice fractional reserve banking! I'm going to wait for all debt to be wiped out and the dollar to go back on the gold standard before I join this market!"
Bit of a rant there.