It's funny, if I look at France, where the government collapsed and they don't have the benefit of printing their own currency, equity investors have remained quite resilient. the bullishness of households with regard to stocks seems based on the idea that the market has gone up a lot lately so it will go up a lot in the future.
At the same time, the bear porn continues to be a steady part of the commentary despite having been wrong for the past 2 years. while my gut tells me that there will be a comeuppance at some point, I think we underestimate just how much central banks and governments are going to be willing to do to prevent that inevitable collapse, and this could last for quite a while longer. In fact, I suspect that the turn will be missed by most because it will start in a market that is not widely followed or appreciated, something like industrial metals.
Usually, that's typical for the end of the cycle. Is your impression that the bear porn continues - now that Rosie capitulated and Blackrock says boom and bust cycles are gone? First half of 2025 will be interesting.
It's funny, if I look at France, where the government collapsed and they don't have the benefit of printing their own currency, equity investors have remained quite resilient. the bullishness of households with regard to stocks seems based on the idea that the market has gone up a lot lately so it will go up a lot in the future.
At the same time, the bear porn continues to be a steady part of the commentary despite having been wrong for the past 2 years. while my gut tells me that there will be a comeuppance at some point, I think we underestimate just how much central banks and governments are going to be willing to do to prevent that inevitable collapse, and this could last for quite a while longer. In fact, I suspect that the turn will be missed by most because it will start in a market that is not widely followed or appreciated, something like industrial metals.
Have a good weekend
Usually, that's typical for the end of the cycle. Is your impression that the bear porn continues - now that Rosie capitulated and Blackrock says boom and bust cycles are gone? First half of 2025 will be interesting.
Have a great weekend as well!