Is the U.S. Economy Toast?
By: Brian Bloom
Aug 08, 2010
Marc Faber thinks the US economy is toast. Richard Russell’s interpretation of the technical behaviour of the US market is that we might just be entering a new Primary Bull phase. (Although he remains wary because of the generous P/E ratios that still prevail).
Last week, this analyst had an interesting chat with an associate who happens to be an extremely well connected Institutional player in the currency markets. He meets regularly with central bankers in various countries in this part of the world and, last month, the year-to-date returns on investment of 11% of the fund by which he is employed was halved. He was not a happy chappie.
Is anyone out there bullish? Is there a reason to be bullish? Are the bears stubbornly holding onto their bearish calls for ego reasons?