Zeev's Turnips Patch-No Politics (ZEEV)

[ergo sum]

One has to think that as AG is telling us most of those refi actions were cash out, combined with the worst December in what was it 50 years, which again sounds like cash out that the consumer, who is already nearly maxed out on his credit cards is not about to reflate this economy.

The funniest part and perhaps the scariest part was the one about:

To be sure, the stock prices of old-line companies do rise somewhat through arbitrage when the market as a whole is propelled higher by stock prices of cutting-edge technologies. But it is difficult to imagine stock prices of most well-established and seasoned old-line companies surging to wholly unsustainable heights. With some prominent exceptions, their capabilities for future profits have been largely tested and delimited.

Exactly who is he thinking of there GE? JPM? ATT?