“The U.S. unemployment rate is down to 4.1 percent, and economic growth could well increase in 2018. Consumer and business confidence is high. What could go wrong?”
Say your prayers.
“At length, you get Donald Trump instead, and you get his half-baked advisor, Peter Navarro, on bubblevision explaining that protectionism is the new route to free trade.”
Fortunately, I know just the man to fix this problem…
“But here’s the thing. The blue line below ain’t no Maginot Line.”
“We have reached the point of self-intoxication when inner contradictions of the system, which previously could be temporarily ignored, are taking over. The system has exhausted itself – it has collapsed under its own weight.”
“In the last week of January, as equities went on yet another run, a client who had been waiting to buy the dip called us with an exasperated query.”
Hyperbole is fun!
The market’s verdict was as follows.
So there you go. Bring an umbrella.
“Then again, you haven’t seen nothin’ yet.”
This should be all kinds of amusing.
“That’s because his newly appointed task will be to dig through Ronald Reagan’s proverbial room full of horse manure to reassure the Donald that there is a pony in there somewhere.”
“There’s no recession coming.”
“One of Wall Street’s most misbegotten memes is the Goldilocks Economy notion. They invariably trot her out near the end of a business cycle in order to keep the mullets buying stocks and the Fed heads as anesthetized as possible.”