Markets do not Look Ahead

That is all one can say at this point. Things are rolling around in the bubble as this pattern continues. So the moment will come when the bubble is pierced.

What does one need to know?

  1. Most important is that asset markets are over priced.
  2. The selling catalyst when it comes will be a surprise, it by definition has to be that way because things could go either way in the economy.
  3. Because the country is so polarized the hoped for strong economy most likely will not be realized.
  4. There is a chance that there will be raw material inflation, but it seems final consumer demand has probably already peaked.

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