ZH - Its the econmomy stupid. Remember that? So will others in a couple of months and particularly in 24 months.
It is good to be reminded. I still keep some of my older posts around 2000. Oooooh.
Still this years lot was only based on the views of Micky Levy and others. I actually believed them. Not any more. Now I look to see what the people running the companies have to say and thats that. Learning? Who knows.
What I do know is that if business is good then the market reacts to it. Mickey Levy got it wrong and Lakhshman forgot his surname but he comes out on Lou Dobbs. The economists have got it absolutely wrong. Actually the only person who has made a forecast of any kind that has come anywhere near correct is you!!!!!!
In any event listening to the people running the companies this is beggining to look ever worse and next year even worse than this year.
Well Election time coming. Good. That will do two things:-
1. Focus peoples minds in Congress on what really counts and that you can't win elections with this appaling gloom about never returning to good growth. That might go down well on these boards and with Bill whatever his name is on CNBC and Steven Roach, Bill Gross and Fleckenstein but it isn't a strategy that is guaranteed to win an election.
2. It will focus GWs attention on what is no doubt going to be his going down in history as not only the first father/son president but incredibly that both father and son got slung out by the American people for the same reason in fact the Dems mught even have a laugh and use the same slogan. Now thats history.
I look forward to hearing stories about how the country was coming down form a great bubble and thats why millions of Americans have seen their retirement and college plans go up in smoke.
Oh yes and it was all the excesses of the 90s thats why and you have to let people down slowly. Yeh.. right.
Yeh right ..excesses of the 90s try that on the election in just over 24 months. I look forward to seeing that one.
I can hear it now...say it together " It's the economy s----d"
Best,
L
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