Last week, a friend asked my opinion on how this untenable situation could persist.
“We’re probably already in the worst recession the nation has faced since the 1930s yet the stock market keeps moving higher. How?”
Who could be faulted for his wretched state of confusion regarding today’s economic environment? It is unprecedented. The next 12 months is pea-soup opaque to even the most astute observer. Forecasting what comes next? May as well give a quick shake of The Magic Eight Ball so I might convey my keenest insights.
Because anyone, be they Carl Icahn or Karla Icon, who posits that they know what’s next has no more useful insight than that cylindrical Nostradamus that once sat beside my bed. Continue reading