Dew has argued that the shipping/transport numbers are a bullish sign for the economy, but Rosenberg takes up that argument and counters by saying that all we saw was an inventory build-up; there is no end demand.
There has been no inventory buildup according to at least one bellwether company I follow: John Deere. This slide is from DE’s FY3Q10 CC on 8/18/10:
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
AI
