Zeev's Turnips Patch-No Politics (ZEEV)

[sarai]

Zeev: I don't see the market sustaining a worthwhile uptrend with the dollar bleed being what it is. I believe foreign investment in US assets is still at historic highs, but that trend seems to be reversing. This is foreign flight too. With the market's and US$ in a downtrend, Easy Al's hands seem to be tied. Mainstreet is disgusted with Wallstreet so who buys the pump effort?

A sustained rally requires the flow of new money and I don't know where that money will come from, unless Easy Al just keeps printing....But that appears to have become counterproductive.

Double Bubble
http://www.cepr.net/columns/baker/double_bubble.htm
An oldie, but still an appropriate analysis.