THE AMERICAN ECONOMY WILL BE IN THE MACROECONOMIC I.C.U. FOR A FEW YEARS...
AS A RESULT THIS DAILY OBSESSION WITH WALL STREET AND THE DOW IS REALLY VERY VERY MISPLACED...
WALL STREET WILL BE THE LEAST OF OUR WORRIES GOING FORWARD...
I SERIOUSLY DOUBT THAT ANY REAL NEWS WILL COME FROM WALL STREET AND THE MARKETS FOR SEVERAL YEARS...
THIS IS ABOUT SERIOUS POLICY MAKING...AT A VERY MACRO LEVEL...
THE SCREAMS AND WAILING OF THE JUVENILE DELINQUENTS ON TOUT TV AND IN WALL STREET WILL START TO SEEM LESS IMPORTANT AS THE YEAR GOES ON...
EVEN IF THE STREET PROVIDES ENTERTAINING "REALITY TV" FOR THE CABLE NETWORK VIEWERS.
POLICY IMPERATIVES WILL START TO TAKE OVER SOON... IN SHORT THE FOCUS WILL BE ON WASHINGTON ...NOT WALL STREET.
EVERYTHING IS BEING RE-SHAPED NOW... AND ALAS THE GREED MACHINE AND THE BUBBLE LOOTERS REALLY DO NOT HAVE A SEAT AT THE POLICY TABLE...
THE TRILLION-A-WEEK "BAILOUTS" FOR WALL STREET WILL BE STOPPING SOON...AND THE AFTERMATH WILL NOT BE PRETTY...
NO MATTER HOW MUCH LARRY KUDLOW AND JIM CRAMER SCREAM...
