It is always brightest before they turn the lights out.
You can quote us on that, Dear Reader.
Just when you thought things couldn’t get better… guess what?
They don’t. They go dark as a dungeon.
Antidote to Optimism
Our task today is to show that however wonderful things may appear in today’s markets and economy, they may not be all that great.
We put our backs into this grim work neither for love nor for money, but simply out of a sense of stern duty.
If not us, who? If not now, when?
Someone must put forward an antidote to the optimism now raging through markets around the world.
Someone must make the case for cynicism, suspicion, and mockery.
Someone must take the other side of the trade.
And so… the work, like shucking oysters on a cold day, falls to us. We open them up… hoping to find a pearl.
Donald Trump, Davos ManInstead, we find claptrap.
“The elite gathering at Davos [including Donald Trump],” begins a Financial Timesarticle, “takes place against a backdrop of improving economic activity across the world.”
The IMF says it is the “broadest synchronized global growth upswing since 2010.”
The FT goes on to tell us that the world economy is supposed to grow a healthy 3.9% “this year and next” thanks, at least in part, to the sweeping tax reform measure just implemented in the U.S.
Well, well, well. Gosh, it looks as though we were wrong about everything. You can predict the future after all.
As for the tax cut, we didn’t believe that the tax measure would have any positive consequences other than giving us more money.
What economic benefit could be reaped by taking money from one pocket and putting it in another?
…click on the above link to read the rest of the article…
