The recession has bottomed and Q2 earnings will probably beat estimates, Laszlo Birinyi says, predicting the S&P 500 will soon resume its powerful ascent. Since Birinyi predicted S&P to 1,700 within 2-3 years in May, the index is down 0.5%.
"According to economists' predictions compiled by Bloomberg, the economy may expand by 0.5% in Q3." Meanwhile, most companies may beat their greatly reduced forecasts. Well, these two mays sound like a great foundation for a bull market. Unemployment is supposedly a lagging indicator and is projected to rise further. I guess those companies who had their programs enacted in the stimulus will do all right but I don't hope that will create a bull market. I don't see anything that indicates that we will have other than an L shaped economy.
Wow, he is a fool - I expect this market will break to new lows. Economy is awful and getting worse.
Furthermore, the grossly misnamed "stimulus" pkg clearly had very, very little if any stimulus since it was little more than social engineering and paybacks to lobbyists.
The EconomicJoker: I would not take seriously this holiday season jobs data which can be distorted by seasonal factors and poor reporting - Steven Hansen
27 minutes ago
The EconomicJoker: Something about a real book that appeals to me and many others (like my wife and friends). Do NOT want a Kindle.
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Furthermore, the grossly misnamed "stimulus" pkg clearly had very, very little if any stimulus since it was little more than social engineering and paybacks to lobbyists.
Sad