Balderdash

Sobering Stat: ARMS Index Indicates Market Is at Peak, Not Bottom

we will not nominally touch March lows. March lows priced in a collapse of the American financial system. the government has drawn a line in the sand. they will destroy the currency before they let the too big to fail crowd go down.

they've changed the game. they've turned an imminent implosion into an imminent explosion.


On Aug 29 02:11 AM Michael Clark wrote:

> This is not a surprise -- but I appreciated reading it. We are near
> a top and we will test March lows. Denial is not a fundamental strength.
> And companies with declining earnings are not necessarily a good
> value. I'd rather own a company with a high PE and rising earnings
> than a company with a low PE and declining earnings. In the case
> of this market, we have mostly companies with a high PE and declining
> earnings. That's a very dangerous market condition.

Where Was the Inflation?

the inflation manifested itself in a unprecedented housing orgy

that's not measured by CPI

Confessions of an Austrian Economist

Ever heard the old adage 'can't have your cake and eat it too??' I suggest you revisit this truism.

The malinvestments and inane monetary policies of our decades past have created losses that must be flushed through the system. No amount of fiscal stimulus is going to cure the inevitable correction. All the government can do is redistribute the losses amongst those who have done no wrong and create moral hazard.

An inflationary depression is far worse than a deflationary one. Imagine the job losses if people refuse to work for worthless dollars and demand gold, euros, or wheat? A full blown currency crisis is arguably worse than deflation and massive default.

Consumer Confidence and Dollar Plunge; Oil Prices Soar

I think you're confusing contemporaneousness with causation.

The tide may have shifted as the negative dollar sentiment overpowers flows associated with carry unwind.

*gulp*

Weak Dollar Bodes Well for U.S. Economy

<< Since July 2007 the three months with the highest totals of private investment in the United States have been months that the dollar fell, often dramatically, against the euro.>>

then you say

<< June was a bad month for the dollar against the euro; it dropped from 1.5300 in the second week to 1.5780 in the last. It will probably be another strong month for investment capital flows into the US economy.>>

I've never seen someone contradict themselves so badly with so few words written.