Nothing much to post other than some idle thoughts. From what I can see we have avoided financial armageddon (hats off to Michael Panzner). The big financial institutions have built up capital big time. Now they are not lending it, which tells you a lot. They should be able to repay TARP and other funds in time and gradually survive the bad crap on their books. Nothing like Uncle Sam giving out money with virtually no interest to get you through the tough times.
Yet with the worst avoided, folks seem to be ignoring the big picture. China is in a major bubble, Japan is -well - still where it has been for 20 years, the PIIGS aren't flying and we are inflating a new bubble here at home. The fundamentals still suck big time and will for some time and we are not focused on the fundamentals. In my humble opinion we are entering into a very long phase of economic stagnation, both in the U.S. and Europe, which means those that sell us stuff are not going to do much better. NO market predictions here, just expecting that we are in for many years of no fun.
Disclosures: None.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment