Saturday, March 6, 2010


Abbie is at it again
happy birthday new bull market! yes, a year ago the major indices bounced off new lows, and with trillions of dollars of taxpayers money, the stock market started heading north again with nary a look back. its just so encouraging to see signs of "nascent" economic recovery all over (we don't say 'green shoots' anymore, that's last years BS bingo buzzword)


yes, the only thing headed up faster than the market are the exploding budget deficits of every school district, city, county, state, and country on the planet. what could be more bullish than endless trillions in bonds sales?

the official unemployment rates are finally holding steady (providing a semi-reasonable argument that the unemployed must be resorting to cannibalism to keep the rate in check - it is certainly as plausible as the rate itself)

its also great to see retail spending continues to be 'better than expected'. (Mish had a fantastic article describing why - same store sales don't count the 1000s of stores that have closed, and shoppers flock the to remaining stores that are open (think circuit crappy vs best buy) want real 'retail sales' numbers? look at the state sales tax revenues, which continue to fall off a cliff.)


yes, the investment bankers certainly deserved their $40B in bonuses last year. it must have been incredibly difficult for the vampires to go to work every day and re-increase risk to obscene levels, this time with with taxpayer cash. (next time, vampires, when the chips are down, just jump you @#$#ers, like the sign said. I have the feeling next time you'll be pushed.)

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