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Monday, April 6, 2009

Depending on Banks to Fuel the Rally...

So, the global economy is facing one gigantic balance sheet recession and the Bulls are pinning their hopes entirely on the sudden, miraculous return to profitability of banks?

Commercial real estate hasn't even collapsed yet. Credit cards pools haven't even imploded yet...

I have only one question. Why won't you learn?

S&P 500 Can’t See Enough Money to Feed Stocks’ Rally (Update2): "Investors are depending on banks more than at any time in at least 60 years to lead the U.S. out of the longest earnings slump since the Great Depression.

American companies will end more than two years of declining income by the fourth quarter, according to analyst forecasts compiled by Bloomberg. Banks will be responsible for all of the 76 percent rebound in the final three months of the year, because without financial companies, the gain turns into a 4.5 percent decline, the data show."

12 comments:

Anonymous said...

Banks have been the problem: now they are the solution? LOL.

Anonymous said...

ok, that is pretty damn funny.

Anonymous said...

Perhaps it's time for the Gov to declare a "War on Taxpayers", now that the "War on Terror" has bogged down?

(Thanx to Immobilienblasen!

Kneale said...

Given what you just said, I'm 100% BULLISH. BUY BUY BUY!

Anonymous said...

The bulls are running wild.

Hulu said...

GOLD down $26 so far this morning to around $880.

Anonymous said...

Thanks Hulu - we all needed you to tell us what we couldn't google.

eh said...

Wall of worry.

Anonymous said...

Given what you just said, I'm 100% BULLISH. BUY BUY BUY!

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Folks don't follow stupid! the only Bull he is buying is Bull Shit.

Running Man said...

I'm going long short IQ's, there seems to be a glut of them in the market at the moment. That can't last and soon everyone will be looking for a buyer(short IQ)

Anonymous said...

Like Homer Simpson's alcohol, banks are the cause of, and solution to, all of our problems.

Anonymous said...

They ignore the Ninja, but if Soros says so, the Press is all over him:

http://www.bloomberg.com/apps/news?pid=20601103&sid=aseoSDo6U0lM&refer=news