Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, February 14, 2014

Six years lost

In the middle of last year, my coinciding index for the US economy passed the previous peak which occurred just before the onset of the GFC.  It's taken SIX YEARS for this to occur.  Six years of lost output and lost incomes, of lost jobs, of despair and poverty.

Oh, the index fell in the latest month, but that was due mostly to the big freeze. It'll pass.

Six years.  So much for rational markets and automatically self stabilising markets and economies.

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