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What a difference 12 months can make.
Just one year after every national economy on earth was in deep trouble, a powerful global rebound is underway. In fact, the global upswing is a lot stronger than most investors realize.
So don't let a few days' decline here and there cause you to lose sight of one of the most important investing trends investors will find today.
I don't understand how you people can be so selectively blind to what is happening. The idea that the economy is firing on all cylinders is absolutely absurd. It is not right to mislead people like this.
There is not any similarity between 2004 and 2009 whatsoever. If the S&P 500 were to return to its long time mean (a P/E of 20) it would fall to near 100. The US consumer is not going to start spending what we don't have — for another couple of generations, if ever. The large banks are completely insolvent. The economy was a house of cards before 2007. Now it is a burned out wreck. Hello?
Jon,
I would agree that many economies in the world are recovering, but can't see how you include the United States.
We have massive debt and trade deficits. We have the highest unemployment ever if you don't believe the deceitful numbers put out by Washington. (So what if less people are loosing jobs than before, the fact is we're still loosing jobs!)
And, most of all, we have a banking crisis that will not allow our economy to recover onto a solid footing until all of the toxic assets are properly accounted for and flushed out of the system. The fact that the Government's efforts to stimulate the economy are working as you point out, is actually a BAD thing. It just means that later when they don't work, the situation will be that much harder to deal with.
Do you make any analysis of the telecoms world ? Especially the global trends in competitition, stater of financial health of vendors ( Ericsson, Huawei, Alcatel), mergers and acquisitions, financial results, advantages over each other. Do you also have the same information about Telcommunications operators in Africa? Any business intelligence on telecommunications will be very valuable. Thanks, Donald
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[…] less fast – about 2.25% – for the next chunk of time, and to look pretty anemic compared to emerging countries growing at twice that rate . We are nervous about the possibility of a major shock to Chinese […]
[…] less fast – about 2.25% – for the next chunk of time, and to look pretty anemic compared to emerging countries growing at twice that rate. We are nervous about the possibility of a major shock to Chinese […]
[…] Money Morning Week Ahead Column: A Year After the Crisis, the Global Economy is Firing on All Cylinders. […]