Click to enlarge.
Worry not about the steepness of the climb. This bad boy's totally sustainable. I can feel it in my bones.
Yow 10,000! Put on the party hats! Just look at all that momentum! This economy is unstoppable again! Now that one of the last bears has finally capitulated, what could possibly go wrong?
October 20, 2013
Top Bear's Bullish Tilt Has Followers Growling
One of Wall Street's leading bears has turned more bullish, riling some longtime clients.
Gotta love his timing. I guess he just needed confirmation that the stock market was a sure thing. It's climbed 160% over the last 4 years or so. Sure thing it is! Can't lose! What more proof do you need? The government will soon be rolling in too much revenue. We'll be too prosperous! That's right. You heard me. I'm capitulating too!
Mr. Rosenberg became more positive on stocks when he determined that chances of another economic downturn had dropped amid the Federal Reserve's aggressive actions.
No more economic downturns! No unintended consequences! Just genius move after genius move by the very same Fed who could not spot a housing bubble as it was peaking. Hurray! I'm talking directly to you Ben "There Is No Housing Bubble to Go Bust" Bernanke. Well played, sir. Well played.
There's gravy and biscuits in it for you, and by that I mean gobs of money. - Claptrap, Borderlands
Disclosure: I'm not really capitulating. I trust this economy long-term about as far as I can throw up. (Over Fed pun intended.)
Source Data:
St. Louis Fed: Custom Chart
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