Daily Reading on the Financial Markets: 2/29/12
One of my favorite subjects is Truth. To many, it is a murky and unattainable abstraction. Perhaps something altogether non-existent. I mention it because I tend to view the financial markets as a variation on the game of ‘finding Truth.’ As in most of life, it is often warped or entirely obscured from our perspective. The trick is finding it despite the many obstacles, both internal and external to ourselves.
On Friday, Lakshman Acuthan of ECRI appeared on CNBC reiterating their recession call, saying leading indicators are worsening not improving, despite sentiment and stock market enthusiasm.
The most recent revision of Q4 GDP puts a chink in the ECRI claim that GDP peaked in 2010 (at least until/unless further revisions revise this revision).
On Zero Hedge, Tim Price speaks to the primary belief of this blog – that we are in a debt-driven ponzi – and the myriad of practical and ethical problems that reality presents.
Cullen Roche is a big fan of trucks and rails as indicators for economic activity. Rails showed weakness in January, and January’s truck activity is not encouraging. May be nothing… may be a warning.