I know that posting something evenhanded and non-partisan on the state of the economy and markets isn't going to get me any friends. Good thing I don't give a shit.

So here's some excellent commentary on where we stand: Hussman's latest.

If one thing is clear from the last decade, it is that investors have no concern about the ultimate cost of the wreckage as long as they can keep a bubble going over the short run.

So sad, but so true.  When I was working in Japan, after the burst of their bubble, the talk was about the 'hollowing out' of their economy.  With our current federal/financial oligarchy directing capital to moribund institutions, rather than towards future productivity (or, ideally, just getting the hell out of the way), I expect to hear that phrase used for our economy as well.

Posted by: Hermit Dave at 09:20 PM | No Comments | Add Comment
Post contains 144 words, total size 1 kb.