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.



  1. Looks like Rosenberg gave up calling the market, though he remains a skeptic of the economy. Who isn't?

    But he conceded the market can go to 1400.

  2. He did change his tune of late. His charts show a pretty scary macro story though.