Here are a pair of images (top one from the Chicago Tribune and the bottom one from inside the latest issue of Newsweek) which I think captures well the public's mood about the economy and the stock market. The images speak for themselves. This is not a psychological environment in which any significant (say more than 10%) drop in stock prices is likely, or even possible.
Haha! I love it.
ReplyDeleteUnfortunately, there are some serious bulls out there on CNBC, in the WSJ, and elsewhere that dilute the effect. For every piece of economic data there are random mixed signals which result in random mixed days like the ones we've had for the past 2 weeks.