Simba, Too bad Joe G. isn't here to give his opinion of the Nobel Prize for Economics. <g> I actually worked for a winner of the thing once and the staff had to help him button his shirts. But he knew his formulae.
Anyway, Mundell, who helped create Surprise Side Economics, the failed experiment of the 1980s that led to huge debt creation in America, is not a source I'd listen to about the market. He may not be as dangerous as the nobelists over at Long Term Capital, but if he sees no signs of a top, he should get fitted for a seeing eye dog.
Nutso stuff from the ivory tower.
That being said, there is no reason why the Dow cannot go to 15,000. 10,000 bears no resemblance to what the cos. in the Dow are worth, so why not go to another fantasy level? We just have to make certain that we recognize it is fantasy and not reality. |
