For the past four months, the US stock markets have been going up, up, and up, even as economic news goes down, down, down. "We are forward looking" they say, and "losses were bad, but they beat expectations!"
Sad, yet joyful truth is, the baby boomers, that generation that destroyed everything it touched, is going into all-out saving mode. They are not returning to the malls, and they are tossing their credit cards.
Its over. The current recovery is nothing more than an illusion created by artificial liquidity, like a junkie shot full of his drug, feeling like he is not addicted. I give the USA 3 more months, tops, before it starts jones'n something fierce.