Seeking Alpha

Rosie turns bullish on economy

  • "We have a U.S. Fed policy calibrated for an outright economic depression," writes David Rosenberg, curious if the central bank's PhDs are hearing the same earnings call optimism he's hearing. He scratches his head over what appears to be a key task of the coming Yellen-Fed - raising the labor-force participation rate. Does the central bank really have the power to turn around a secular phenomenon?
  • Treasury yields are enjoying a nice run (lower), but there's not much left short of a return to outright deflation scare - a concept Rosie can't grasp given the dollar's decline to nine-month lows.
  • Sluggish payroll growth needs to be taken in context of federal employment slipping to the lowest point in nearly 50 years.
  • Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.
Comments (11)
  • When Rosie fiiiiiinally turns bullish, I'm suddenly very scared with my long positions!
    25 Oct 2013, 11:26 AM Reply Like
  • Who Rosie?
    25 Oct 2013, 11:31 AM Reply Like
  • I haven't heard that term before so this is a guess on my part, but the author of the linked articles name is David Rosenberg.
    25 Oct 2013, 11:44 AM Reply Like
  • Economy will not turn bullish till Obama is gone. 8 years of nothing.
    25 Oct 2013, 11:38 AM Reply Like
  • Have you been invested since 2009?
    25 Oct 2013, 11:59 AM Reply Like
  • bgold, the correct question is 'have you been invested since Quantitative Easing?'

     

    The market reaction to any hint of tapering tells you everything you need to know about the 'Obama economy'.
    25 Oct 2013, 12:08 PM Reply Like
  • That kind of retrospect is useless.
    26 Oct 2013, 11:15 AM Reply Like
  • I doubt he is bullish.
    25 Oct 2013, 12:06 PM Reply Like
  • The velocity of money is collapsing to an all-time record low by all measures. This is a worldwide phenomenon.

     

    We are in a deflationary maelstrom that the Fed has only begun to understand.

     

    Expect a huge increase in QE along with near permanent wage stagnation.
    25 Oct 2013, 12:26 PM Reply Like
  • Well said. For some truly good reading, go to Van Hoisington's web site and read Lacy Hunts quarterly economic pieces, wow! Talk about being way ahead of the crowd.
    26 Oct 2013, 11:16 AM Reply Like
  • Rosie (now with Gluskin Sheff) is losing the firm clients hand over fist now after becoming a bull in recent months after years and years of bearish views. Rosie bulled up, I'm looking to batten down the hatches.
    26 Oct 2013, 11:16 AM Reply Like
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