One Could Say a Lot of Things
But I’m not sure it would matter. So I will just ramble here.
1) The market is no doubt fueled by borrowed money that could have gone to creating jobs but didn’t because of the way the bank bailouts were designed.
2) The trading volume numbers and net inflows to mutual funds say that the guy on the street is not involved in this market rally. This may or may not mean anything. If they read Jim Cramer’s new book “Getting Back to Even” maybe they will get excited and get involved here. If they do then three years from now they can get Cramer’s next book, “Getting Back to Even Again”.
3) There is no doubt that the “Helicopter Ben” title was accurate the first time around and I could kick myself for deciding he was smarter than that characterization.
4) Senator Dodd’s proposed Banking regulations will be a factor in offsetting some of the “Helicoptor Ben” effect.
5) It took 2 years of waiting for me, from 2005 to 2007, for the insanity of the big bubbles to become reality. This set of mini-bubbles will not take that long.
Ok, I feel better about losing more money today.