BERK: In a Wall Street Journal column entitled The President's Animosities: Since when was the American idea us versus them?, Dan Henninger calls out Obama's words and actions as the most hostile to the private sector in his lifetime. This is why the economy and the stock market are so volatile. Economists
Leading Indicators Fall Sharply To Lowest Level Since Last September
We saw the pullback in the stock market coming as the ECRI leading indicators peaked (see here, and here) and started to rollover. All recoveries decelerate and we have thought that this one had just about peaked - now the stock market is getting wind of that too. Maybe markets aren't worried about the next Lehman. Maybe they're just worried about the fact that the boom is coming to an end.
Leading indicators for the developed countries and the biggest developing countries (China, Brazil, Russia, India,South Africa and Indonesia) as a whole are rolling over. That is one of the reasons that the S&P 500 has been the leading index and the US dollar has been so strong - other early cycle stock markets like China have been weak for months. Until the elections in November the U.S. stock market is probably on hold. The leading indicators rolling over tells us to expect slowing
BERK: The stock market rallied today partly because Australia's Central Bank did not raise interest rates as expected. Of course, some great earnings numbers and the manufacturing news from yesterday was a big relief too. But the small rebound has not yet erased a very bad January - especially last week. Much of the stock market action so far this year has validated our
NEW YORK, Dec 18 (Reuters) - A weekly measure of future U.S. economic growth continued to rise, reaching levels hit in the summer of 2008, while its yearly growth rate climbed toward recent record levels, a research group said on Friday, saying this reaffirmed its forecasts of smooth recovery into 2010.
CARPE DIEM: V-Shaped Recovery: "Virtually Unstoppable" Shared via AddThis "With WLI (Weekly Leading Index) growth rocketing to a new record high, the economic recovery will prove to be far more resilient in coming months than most believe possible," said Lakshman Achuthan, ECRI's managing director. "The risk of a double dip
