This guy is saying the market is crazy (dumb actually) because the market is unafraid?????
Sounds like someone who has advised his followers to go short but the dumb market won't oblige him.
I agree economic indicators combined with the fanaticism of the inept power-mad administration are no cause for market optimism, but market sentiments are better indicators than economic conditions.
The last time Wall St was weened from its euphoria it took week after week of interest rate rises by the Fed, aimed specifically at breaking the market boom . Relentless rises, continuous rises, until finally the market capitulated. But it was done deliberately. It brought on the crash and reverberated around the world.
Then the Fed had to reverse interest rate policy week after week, lowering rates to compensate for the wreck they had deliberately wrought.
I say leave market sentiment alone. The further fall in the greenback will force US inflation but also give some competitiveness to corporates not wholly dependent on the domestic market.
In fact, a lower dollar may form the basis for a US economic recovery. Hopefully not before the simeon war party gets the flick.
