"Nomura's famously bearish Bob Janjuah is still really negative, arguing that growth is really weak and that politicans continue to make errors (he calls the Geithner plan for Europe a Ponzi scheme).
Bottom line. Things are going going to be bad for a long time.
at http://www.businessinsider.com/nomuras-bob-janjuah-growth-is-horrible-and-politicans-are-screwing-up-so-the-market-will-be-horrible-for-years-2011-10?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1ZkQZoljQ
Bottom line. Things are going going to be bad for a long time.
My last report (Bob's World: It's only just begun) was published on 23 August. A month on I have little to add as markets and data are evolving almost exactly as expected. Most commentators now seem to accept that what is happening is not an overreaction, rather the markets are at last on the way to fully pricing in the sad state of the global economy and global markets. It may sound repetitive, but I remain firmly convinced that we are in a secular bear market where stage 1 was the late 2007 to early 2009 sell-off, stage 2 was the countertrend rally from early 2009 to April 2011, and stage 3 is the current phase, where I expect the sell-off to last at least until late 2012..."
at http://www.businessinsider.com/nomuras-bob-janjuah-growth-is-horrible-and-politicans-are-screwing-up-so-the-market-will-be-horrible-for-years-2011-10?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1ZkQZoljQ
