Micron Technology (MU)

[JLS]

Market Worrywarts

“There’s [a] lot of things to worry about,” Rosenberg said, “but the Fed is not one of them.”

“It’s not the first rate hike that is the problem. No cycle ended at first, second or third rate hike,” he said. “The big concern is the last hike, not the first one.”

No bull market or economic cycle ends “on its own,” he said. “It ends in a liquidity cycle when the Fed tightens so dramatically that it inverts the yield curve.” All 11 post-war cycles all ended the same way, Rosenberg said. “This one will too, but it might not be until 2018.”

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