According to Bloomberg's index, the capitalization of global equities has soared 88% from its low last year. That represents the creation (or re-creation I should say) of $22.6 trillion in wealth in just over one year. Another $14 trillion and we'll be back to where we started. The recovery from our global nightmare has been impressive and largely unexpected (except here on Calafia Beach), but it's not over yet.
Mark Perry has a nice list of "10 Reasons the Economic Recovery Is Real" that is worth checking out.
Scott,
ReplyDeleteHas anyone made a chart of Global Equity Valuations against Global Debt?
the nightmare is become a sweet dream...In only 12 months...
ReplyDeleteIt was only a psychologic accident...no structural problems off course.
If you want anticipate and avoid a Big Crisis/ Bubble's-SBOOM this in not the right Blog :-)
But to Ride... it's the top Blog.
Until it keeps up..
Dear Scott, you are the anti-Roubini :-)
He have had 50% to hit the mark.
You...the same 50%.
It is your moment.
Hey. "The anti Roubini" is a pretty big compliment. As good as I've seen lately. We may have a new name for you Scott!!
ReplyDeleteBTW, the RTH (retail etf) is breaking out today. The anecdotal beach crowd indicator was right!
what are you going to write about when all the vs are done? Perhaps:
ReplyDeleteSuch contentedness and change of view in regard to every kind of life does the infusion of reason bring about. When Alexander heard from Anaxarchus of the infinite number of worlds, he wept, and when his friends asked him what was the matter, he replied, "Is it not a matter for tears that, when the number of worlds is infinite, I have not conquered one? "
As I see it, the past year has been all about conquering the fear of a global economic and financial collapse. Going forward, if I had to guess, the great issues will revolve around the proper role of government. There is much work to be done on this.
ReplyDelete