The Black Box

[Chris McConnel]

Belkin is not the only one talking about the refi money and front loaded tax cuts, goosing this year's GDP.

Jeff Saut at Raymond James has also been saying it:

"Plainly, however, we do not trust the recent rally, believing that once the four economic stimuli (refi, tax cut, tax rebate, deficit spending) “wash” through the economy, it will revert back to a 2.5% to 3.5% GDP growth rate. Regrettably, we don’t think stocks are currently priced for that environment."

http://www.raymondjames.com/inv_strat.htm