lorddarley

Why You Should Pay No Attention to Consensus Estimates

Set the bar low enough, and anyone can jump over it. Implicit in any of the current optimism, as companies lose less than projected, is that there are better days on the near horizon.

The US is an economy with asset "values" that still grossly dwarf GDP. Unfortunately, we have tough sledding until our labor costs are reasonably in line with those of foreign competitors. Until we resume status as an exporter without major imbalance in trade, the long term trend will not be good.

It's total fiction to think we can prosper with a "service-based" economy, importing all this oil and overseas junk.