The Bullish White Crane View of the World is taking hold!
The media in general, and especially those individual economists, researchers, and strategists, who scared investors away, and put fresh business investment on hold the world over, are irrefutably wrong, and have a great deal to answer for.
There was never any justification for the absurd forecasts of doom made by these people. They will fall back on “America is saving the day” now, but it is the reverse that is true. The world has rescued the US and Europe. Robust aggressive economic growth and prosperity throughout the “new first world” of Asia and Latin America continues to drive ever greater demand for European and US goods and services.
Furthermore Main Street USA is truly over all this negative hype and has gone back to work and business as well. Even in Europe corporate profits have been fantastic, and private balance sheets are strong. The real economy, the real people of the world, have been back at work for a long time, leaving the world’s ivory tower economic pessimists in their wake.
I am not making these points to have a go at these people, as much as they deserve it for the very real anguish they have caused. If you are an out of work stock broker, banker, Australian manufacturing worker, or a property developer that the banks now endlessly say no to, then you should be intensely aware it is because of the poor level of real world economic understanding among the ivory tower economists of the world, and that many individuals in the media, who have focussed on and pushed such a one sided and totally wrong story for the past two years.
They simply do not get that the US and Europe, now come second to Asia and Latin America, in the global economic cycle.
Until they figure this out, something I have identified and been arguing since early 2009 they will continue to hype up any negative event or piece of data, but it just won’t work anymore. Even the investment community is beginning to move on from these people. Which is going to create quite a rally.
As I started to say above,, there is actually a constructive reason for this critique of many of the main economists and commentators in the west: if you continue to listen to them, you will continue to miss out on this, our, your, Grand Bull Market opportunity!
What you will increasingly hear is that the US has turned the corner, and therefore there is hope for the rest of the world, but Europe is still a concern. Such analysis will temper your investment strategy, and that is the last thing you need you right now. As I have been saying for many months, including getting wrong for a while mid last year admittedly, is that you need to aggressively buy all the companies you ever want to own. The prices we have seen recently, will never be seen again in our lifetime. The pessimists are still wrong even as they move to neutral. The global economy is incredibly vibrant, and will be firing on all cylinders on all continents this year. Equity markets have to price out the recession they were obsessed with, that was never going to happen, and begin to correctly price in the strong economic reality.
We have already started the biggest bull market in history, and the risk is it starts to move faster than any of us can imagine!
My Dow Jones Index target for 2-3 years set in early 2009, remains 19,000.
Our AXSP200 target over the same period is 9,000.
The Australian dollar forecast remains risk to US$1.1700.
Don’t listen to the bears trying to cover their tracks with cautionary snow!
Keep buying, especially, Australian mining stocks, European fashion houses, and property!
Clifford Bennett
The media in general, and especially those individual economists, researchers, and strategists, who scared investors away, and put fresh business investment on hold the world over, are irrefutably wrong, and have a great deal to answer for.
There was never any justification for the absurd forecasts of doom made by these people. They will fall back on “America is saving the day” now, but it is the reverse that is true. The world has rescued the US and Europe. Robust aggressive economic growth and prosperity throughout the “new first world” of Asia and Latin America continues to drive ever greater demand for European and US goods and services.
Furthermore Main Street USA is truly over all this negative hype and has gone back to work and business as well. Even in Europe corporate profits have been fantastic, and private balance sheets are strong. The real economy, the real people of the world, have been back at work for a long time, leaving the world’s ivory tower economic pessimists in their wake.
I am not making these points to have a go at these people, as much as they deserve it for the very real anguish they have caused. If you are an out of work stock broker, banker, Australian manufacturing worker, or a property developer that the banks now endlessly say no to, then you should be intensely aware it is because of the poor level of real world economic understanding among the ivory tower economists of the world, and that many individuals in the media, who have focussed on and pushed such a one sided and totally wrong story for the past two years.
They simply do not get that the US and Europe, now come second to Asia and Latin America, in the global economic cycle.
Until they figure this out, something I have identified and been arguing since early 2009 they will continue to hype up any negative event or piece of data, but it just won’t work anymore. Even the investment community is beginning to move on from these people. Which is going to create quite a rally.
As I started to say above,, there is actually a constructive reason for this critique of many of the main economists and commentators in the west: if you continue to listen to them, you will continue to miss out on this, our, your, Grand Bull Market opportunity!
What you will increasingly hear is that the US has turned the corner, and therefore there is hope for the rest of the world, but Europe is still a concern. Such analysis will temper your investment strategy, and that is the last thing you need you right now. As I have been saying for many months, including getting wrong for a while mid last year admittedly, is that you need to aggressively buy all the companies you ever want to own. The prices we have seen recently, will never be seen again in our lifetime. The pessimists are still wrong even as they move to neutral. The global economy is incredibly vibrant, and will be firing on all cylinders on all continents this year. Equity markets have to price out the recession they were obsessed with, that was never going to happen, and begin to correctly price in the strong economic reality.
We have already started the biggest bull market in history, and the risk is it starts to move faster than any of us can imagine!
My Dow Jones Index target for 2-3 years set in early 2009, remains 19,000.
Our AXSP200 target over the same period is 9,000.
The Australian dollar forecast remains risk to US$1.1700.
Don’t listen to the bears trying to cover their tracks with cautionary snow!
Keep buying, especially, Australian mining stocks, European fashion houses, and property!
Clifford Bennett
Chief Economist
White Crane Group
Sydney, Australia.
+61 (0) 423 950 427
clifford@whitecranegroup.com.au
www.whitecranegroup.com.au
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