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Some months ago, with the stock market averages several percent higher than they are now but the economic data much better, I described the stock market as being in a topping process. The averages have been kept where they are, in my view, primarily because standard valuation criteria have been encouraged by both projected earnings [...] Many readers are familiar with the adage, “Little children, little problems; big children, big problems.”. As with children, so with insolvent countries. It’s been my feeling that too much financial media attention has been focused on today’s Greek elections. I believe that Germany has already indicated that whatever government may be formed, Greece will have a 100-day [...] Today, yet another “unexpected” increase in initial state unemployment claism occurred. When you look at the top chart the Calculated Risk keeps (LINK), you see that the pace of decline coming off the spike peak in claims in early 2009 has continued to moderate, and it appears as though a clear uptrend has just begun [...] |
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