"Earlier, you
heard it from Jeff Gundlach, whom one can not accuse (at least not yet) of
sleeping on his laurels and/or being a broken watch, who told his listeners to
"reduce risk right now" especially in the frenzied momo stocks.
Now, it is David Rosenberg's turn who tries to refute the presiding transitory
dogma that 'things are ok" and that a Greek default will be contained (no, it
won't be, and if nobody remembers what happened in 2008, here is a reminder
of everything one needs to know ahead of the "controlled", whatever that is,
Greek default). Alas, it will be to no avail, as one of the dominant features of
the lemming herd is that it will gladly believe the grandest of delusions well
past the ledge. On the other hand, they don't call it the pain trade for
nothing.
From Gluskin Sheff
LET'S GET REAL
We are constantly being told how much better the economy is doing. It's incredible what the January employment report did to people's perceptions of the macro landscape. It's as if we were just transported to the mentality that prevailed this time last year. Below we chart out the YoY trend in core capex orders on a quarterly basis ... the pace has slowed now for six quarters in a row..."
at http://www.zerohedge.com/news/david-rosenberg-lets-get-real-risks-are-looming-big-time
From Gluskin Sheff
LET'S GET REAL
We are constantly being told how much better the economy is doing. It's incredible what the January employment report did to people's perceptions of the macro landscape. It's as if we were just transported to the mentality that prevailed this time last year. Below we chart out the YoY trend in core capex orders on a quarterly basis ... the pace has slowed now for six quarters in a row..."
at http://www.zerohedge.com/news/david-rosenberg-lets-get-real-risks-are-looming-big-time
