Wednesday, February 10, 2010, 6:58AM ET - U.S. Markets open in 2 hours and 32 minutes.
"It's dangerous to be short this market," says Peter Boockvar, equity strategist at Miller Tabak.
Despite a penchant for bearishness, Boockvar says the rally can continue as long as the Fed keeps rates at zero.
"When you cut rates to nothing you're encouraging people to take risk," Boockvar says. "As long as asset inflation is [the Fed's] goal, the market could go higher but there are obvious consequences," including inflation, as discussed here.
The Fed is trying to create "the illusion of prosperity" by fueling asset price appreciation, Boockvar says, staying true to his reputation as a deficit hawk. Even if the U.S. stock market keeps rallying, "non-dollar assets" like commodities and emerging markets will continue to outperform, he says.
Unlike the U.S., emerging markets are "not weighed down by enormous debt levels" and local consumers are "much better off" than their American counterparts, the strategist says, expressing a strong preference for China.
"If you want exposure to global growth, it's going to be outside of the U.S.," he says, recommending the following:
listen to this man people.... jump on the train.... lest we forget... taking risk is the foundation of America... for those of you whining... you're going to get creamed.... see ya... choooo choooo
The FEDS and GS are so MANIPULATING The Market to keep the traders and little fish with blinders // Once they decide to make the killing by selling all the rug will be puled from erybody's feet and all of you will lose your A$$ /// Wake up america // one tiny bit of good news and they latch on to that to keep the market going up // They can't see all the bad news because they have their heads up their A$$
This guy has some things right. But US companies and retail will also benefit from the so called wealth effect. Monetary policy works that's why the FED is using it.
Neither debt nor inflation are growth. But your government thinks it is! :D
Buy, buy, buy!! Everything is great! We ONLY lost a half million jobs last week. My health care bill is going to reduce the deficit. It will be free! We're going to win in Afghanistan. We'll close GITMO soon, I promises. We are going to save the world from global warming and inflation will never go up. We've only increased the money supply by 130% in ten months. Everything is great. Now get out there and campaign for me.-------Thanks, Obama.
Hey at this rate we will be back to DOW 14,000 in no time - just like nothing bad happened at all, yea right!
Pete is right on with this interview. American Business is focusing strictly on the world economy and abandoning its citizens financially. The money will be made overseas.
Dear Congressman, "We the people" have tried to find jobs that the stimulus was suppose to create, we have tightened our belts, lowered our expense and still are struggling. "We the people have see that Government only knows how to spend and has lost touch with " WE the people" "We the people" have taken cuts in pay, had our benefits reduced, and have still lost our jobs. "We the people" have watched as Government has increased spending, taken trips, enjoyed the fine life. "We the people" would like to see Government take pay cuts, loose benefits, and pay for their own health care. "We the people" demand better from our Government, "We the people” are angry, hurt, and disappointed with our Public Servants. "We the people" want our Government to remember who are "We the people", right wingers, tea baggers, Democrats, Republicans, Independents, Housewives, Teachers, Electricians, Farmers, Business owners, Construction workers, Janitors, Barbers, Gas station attendants, unemployed, retired, etc.... "We the people" means all of us not just Party Affiliates, Bankers, Stock brokers, Unions, and Associates. "We the people" will be heard and our votes will show that we care what our Public Servants do for " We the people".
people.... some of you don't get it..... the world is leaving America behind.... America is no longer top dog.... that's why government has to look to global policy no longer domestic only.... the Glory Days are over... get on with the new world order.... buy gold hedge against the future... choooo choooo
"O"ne "B"ig "A"ss "M"istake "A"merica
hadenoughgov - Thursday November 19, 2009 09:08AM EST Yup this is what you get when your leaders are globalists first and Americans second we need to vote these bums out of office as fast.. as possible. /////////////////////////////////////////////////////////////////////////////////////////////////////////////////// I'm with you. VOTE OUT the INCUMBENTS in 2010.
As any good magician knows, if you want to do a trick with your right hand get the audience to focus on your left hand. The govrnment is propping up the stock market to divert attention from the Federal deficit, unemployment, bank closures, etc... In October 2007 when the Dow was over 14,000 not very many investors had an exit strategy ready. Now we have a dollar bubble forming and it would be prudent to get your exit strategy in place if you haven't done it already.
We have been prodigal and are paying the price. To modify an old saying, shirtsleeve to shirtsleeve in two generations. The technology revolution is petering out and will not fuel future prodigality.
I will be traveling for more than a week, so is there anyone that will take up the cause I've been posting? If so just copy and paste the text as I welcome your help. ////////////////////////////////////////////////////////////////////////////////////////////////// These people in Congress need to be replaced and we the voters need to impose the term limits that they will not impose on themselves. No Senator should be in office more than 2 terms (12 years) and no Congressmen/women should be in office more than 3 terms (6 years) otherwise they do too much harm to us all. VOTE OUT the INCUMBENTS in 2010.
who is this chooooo choo clown. i think his head is up his a$$
When U.S. standard of living catches up to where the growth is the new American Dream will be a devastating reality. Do some research on living where people are celebrating progress....
yfu..... who is this chooooo choo clown. i think his head is up his a$$///// really??? chooo choooo
The 25 year party is over. It was a good party though, and if you missed it, or didn't even know it was going-on, then you missed the biggest phony party rallies in history. But the party is now over and the clean-up crews will be sweeping-up the mess for decades to come. So, what can you do now? Obviously, move to the next country holding the next party!
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hadenoughgov - Thursday November 19, 2009 09:08AM EST
Yup this is what you get when your leaders are globalists first and Americans second we need to vote these bums out of office as fast.. as possible