Jim will be vindicated on this call. The markets are setting up to finally digest the ominous brown shits (not green shoots) that have been the reality, and not the illusions and delusions fed to the masses the last couple months.
In $ you are right. In foreign currencies? Not so much. What good is a Dow up 10% when the dollar is down 10% or more against the Euro and others.
The US and Europe are in for a nasty shock ! They won't be able to compete against the "bric" countries until shopfloor wages and benefits have fallen to their level. GM is just the first dinasour to go ! The good news is that their wages and benefits should rise if they are allowed to. I.E. the fatcats don't cream off all the winnings. Can the West hold on long enough for some industries to survive, albeit in a very slimmed down state? Time will tell. Re-locating plant abroad is one way around the problem but that doesn't save jobs at home.
We should have crashed the global economy far earlier creating chaos in the brics thus ensuring western supremecy for another 100 years at least. Ooh well.
Must be covert. Never seen an example of it. However, it IS a Democrat mantra which is readily embraced by those who "want something for nothing"... something they haven't earned for themselves and therefore don't deserve.
This is definitely a Rogers type of market: currency upheavals, rising inflation, recession. he'll probably make out like a bandit a la 1970's style.