To go long in the short term would be contrarian I suppose.
The US -like Japan before them - is now a zombie economy; too big to fail Wall Street is on a pension and not marked to market; nobody knows whats under the carpet from GFC 2008 and the Government federal and state is way in debt. All in, a macro picture thats about the farthest from confidence inspiring as it gets.
In the US later this week they are going to have a GDP stat under predictions. Sales taxes Q4 2008 are some distance above the receipts for Q4 2009. Thats a non-twistable non-spinnable non-lagging indicator. Jobless numbers are high and growing, and thats not the unofficial more realistic stat which is higher. Freight on rail is down and falling. Baltic index down. Consumer credit has trended down for 26 weeks or more. They're paying debts not buying new fridges or furniture. Leisure- travel- discretionary still way down. CRE down, banks vulnerable. Line of credit linked to mortgages coming due for rollover on underwater mortgages - all held by zombie banks...
Seems rumours of a double dipper have come true.
Obama has a new website, its bannered all over the US web, click here for help:
