The only commentary I will add is look at the spikes in food prices and oil prior to any recession since 1970. To me it is very telling about the macro picture in 2011.
It was a cold November morning as I took my first step into the dark canyon. The challenge of running to the north rim and back awaited; but this journey was greater than the 50 miles before me. This was about discovering the greatness that lies within us. We all have dreams, desires to achieve what others say cannot be done. With passion, hard work and the willingness to suffer, our success awaits.
"Life is either a daring adventure or nothing" - Helen Keller
Thursday, January 13, 2011
Macro Picture (literally)
If you don't subscribe to Dave Rosenberg's daily newsletter I highly recommend signing up today. If I understand correctly he was booted out of Merrill Lynch for being too bearish. After reading him for a while I would say he's more a realist versus a bear. Regardless a recent posting of his had some very interesting charts which I'll share below and let you draw your own conclusions.
The only commentary I will add is look at the spikes in food prices and oil prior to any recession since 1970. To me it is very telling about the macro picture in 2011.
The only commentary I will add is look at the spikes in food prices and oil prior to any recession since 1970. To me it is very telling about the macro picture in 2011.
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Looks like Rosenberg gave up calling the market, though he remains a skeptic of the economy. Who isn't?
ReplyDeleteBut he conceded the market can go to 1400.
He did change his tune of late. His charts show a pretty scary macro story though.
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