28 JAN 2011, Friday (AM)

• Above pic seems to sum up my thoughts regarding the hype on the economy and the size of the stock market rally.
• Does anyone really believe that the economy is great and improving?
• Well, to steer clear of what the pundits tell you and, instead, remember what a true recovery is like...Please, review this article (Comstock Partners) and you'll see what I mean.
• Now, all that said, the market is still going up.  Amazing what a Federal Reserve / US Government purchased rally can do.  I am expecting a correction for the February period...could be wrong...but the market seems very stretched here.
• As to those claiming the economy is great...re-read the article and then ask yourself if, perhaps, they may have been drinking a wee bit much from the Fed's punch bowl.
• AND...I just saw this late in the day...how timely!  Technically speaking, we've recovered (it's all good) because GDP has just surpassed the high set in 2007!  Yippee...Hooray!!!  I guess that Comstock Partners article above holds no meaningful facts afterall.  I mean, come on, the government wouldn't lie with regard to its statistics, right?  What was I thinking?
• To the claim that the recession is over and all those people still out of work and looking for work, it's all in their minds?  And, if GDP is that fantastic, where are all the increased tax receipts to local, state and federal governments to reduce these ridiculous deficits?   I have one thing to say with a very cheery smile, of course...