Friday, August 22, 2014
Fun Friday news
It's great to have some fun once in a while, and mocking Barry Ritholtz for his doubting Mila Kunis is certainly fun.
It's like I said to someone: every one of these big-shot Wall Street fatties needs to be taken down a few pegs once in a while. Otherwise we might start believing the crap they're feeding us.
Anyway, here's the news:
Wealth of Common Sense - all-time highs in the stock market are perfectly normal. That's how you know the market is in a secular bull: it goes up. Stick that in your pipe, all you doomer TAs who... um... already quit reading my blog years ago because I insulted the fuck out of you.
BI - oil prices might deliver a shot in the arm to the US economy. I guess per Jim Rogers, you should expect a secular commodity bear, right? And that alone can really drive earnings & spending growth in a developed economy.
Gallup - investors have no clue about stock market's recent gains. Almost 80% of retail right now, if given $10,000, would invest it in cash or CDs. Less than 1 in 10 even know that the market was up 30% last year. How is this even remotely bearish for the market? My god, retail is still buying MREs and ammo!
Ambrose Evans Pitcherplant - Nobel economists say policy blunders have pushed Europe into a depression. Don't expect Europe to respond constructively, by the way: it's run by the Germans, and Germans are as pig-headed a people as you'll ever find. I'm only amazed that the "socialist superstate" of the ECU is still fixated on discredited right-wing Reaganite financial doctrine.