THE MARKETS SEEM TO REALIZE THAT THE ERA OF QE IS OVER...
WHENEVER QE ENDS THE MARKETS PLUNGE... THIS ENTIRE "RECOVERY" HAS BEEN BASED ON QE AND MONEY PRINTING....
VERY LIKELY...WE ARE IN FOR A BIG BEAR MARKET SUMMER...GOING INTO THE ELECTION.
NOT BECAUSE OF POLITICS...BUT SIMPLY BECAUSE THERE IS NOTHING LEFT TO THROW AT THIS DEPRESSION...
IF ROMNEY WINS...IT WILL BE A REPUDIATION OF ALL STANDARD ECONOMIC THEORY...NAMELY THE VALIDITY OF KEYNESIANISM... IF OBAMA WINS...THE RESULT IS BETTER ONLY IN THAT ORDINARY PEOPLE WILL FEEL BETTER ABOUT BUT NOT ACTUALLY DO BETTER IN THE ECONOMY...
THE DEPRESSION IS FAR FROM OVER...ITS GOING TO BE A LONG DOWN HILL SLOUGH...
EVERYONE KNOWS IT...
EXCEPT OF COURSE WALL STREET....
