normthefedup

Financial Stocks Are Ready for Their Pullback

Interesting concept, author. However, in your perpetual moaning about the dilemma that banks, credit card agencies et al find themselves "trapped" in, you keep harping on the "US consumer." If they are, indeed, making money in other areas of the world, doesn't that profit drop into the same pot as the supposed horrendous losses in the US? Don't ALL companies at one time or another, experience losses at one division while making money at another and, overall, have a good corporate profit performance? You cannot emphasize US losses without looking at the overall picture. US oil consumption is down....OK....but China is picking up. Consequently, the price of oil broke $54 a barrel this morning. According to your philosophy, oil should be about $10 a barrel because the US demand is down. Look at the big picture and wake up.