Reality seems to be coming back for another try at the markets.....well, maybe this time it will take hold.
The truth is that a stock without a yield is just a lottery ticket in the macro-economy power ball game!
In an "ordinary economy" with "normalized" interest rates and without "hyper-liquidity" to "save the bubble" THAT'S JUST THE WAY IT IS.....YA SIMPLY GOTTA HAVE YIELD.... Now, exactly what part of that doesn't the market understatnd.
In his attempt to relive the bubble all Greedspan did was trash the dollar....and now we see the results in commodity prices.....
The greater "evil" of free trade has transfered massive amounts of captial and knowledge to places like China....where responible economic and political policy are problematic at best.
NOW WE HAVE THE SO-CALLED "CHINESE MIDDLE CLASS" TO DEAL WITH....WITH THEIR RISING DEMANDS FOR EVERYTHING!
EVEN AS THE AMERICAN MIDDLE CLASS DISAPPEARS INTO THE BANKRUPTCY COURTS ONLY TO EMERGE AS "INDENTURED SERVANTS" THANKS TO DUBYA AND KONGRESS AND THE BANKS......!
SAY BYE BYE DOW 10,000.......
THAT OLE "DOW 10,000" BASEBALL CAP IS GOING TO LOOK LIKE IT CAME FROM ABERCROMBIE AND FITCH BEFORE THIS IS OVER.....!
And investors are getting a bit frayed and frazzled too.....
