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Good evening to you all and welcome to the weekend!
Its a common thing in the human experience, to 'feel' the most powerful emotional impulses at the end of a well established trend.
In 2009, the general public could see no improvement for their financial situation in sight.
No-one could picture running up big credit card bill's again, or loading up on margin debt once more.
No-one saw a massive 400% rally in stocks on the cards,
In-fact, No-one would even contemplate buying stock for the rest of their mortal lives!
How things have changed!
Take a look at the latest survey releases for the NY FED where they ask consumers of their expectations a year out on a variety of issues.
Here ar a few that stand out for me.
The percentage of people who think that they will be 'Much worse off' this time next year is now 0.91%!
It is fair to say that the bears are well and truly hibernating.
Not many believe they will be bankrupt next year, I wonder on that one.
And of course we will all be able to borrow ever more amounts of credit into existence also!
Anyone else think that the world is polluted in bullishness right now?
We now sit at a mirror image of the 2009 lows in stocks and the economy.
How could anything go wrong!
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UPCOMING RISK EVENTS:
USD: Existing Home Sales.
EUR: German Flash Manufacturing PMI, EURO Flash Manufacturing PMI.
GBP: N/A.
JPY: N/A.
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Video goes live soon, wishing you all a great weekend,
God's speed to one and all!
Enda.
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