For evidence that the market bears are all but extinct look no further than the latest letter from erstwhile bear Bob Janjuah, in which the Nomura strategist throws in the towel in a near-term correction and predicts that "the trends over H1 2017 should be higher (especially US) equities and yields, steeper curves, a stronger USD, and mixed performance in credit (especially in the IG sphere) and EM.
Submitted by John Rubino via DollarCollapse.com,
It’s the same story every time: Imbalances build up during a recovery but most investors ignore them because good times have become the new normal and the uptrend seems bullet-proof. Then things fall apart and everyone wishes they’d paid attention to history.
While Caterpillar's CEO may have resigned recently, admitting that he misjudged the business strategy, and even the company issued a press release cautioning the market may have gotten ahead of itself, CAT stock does not appear to be bothered, soaring by 12% since the Trump presidential victory, and continues to trade near 2016 highs on hopes an infrastructure push would make excavators great again. For now, however, the woes at the heavy industrial manufacturer continue, with yet another month of declining global sales, the company's 48th in a row.
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
If the "experts" were assessed on results, they'd all be fired.
The mainstream media continually hypes the authority of "experts," i.e. people with a stack of credentials from top institutions.
But does the mainstream media ever check on whether the "experts" got anything right? Let's compare the "experts" (conventional PhD economists) diagnoses and fixes with the results of their policies.