To be sure they are both very special people! Trump has become an agent of short term chaos -to be sure- but the idea that either of those two could time or call it is laughable at best. Indexes need to top soon with somewhat swift declines or all the bear counts get canceled except for permabears like pokersam. koan thinks WEF implant Carney is the savviest ever for Canuckistan and turning to Europe and China will humiliate the USA. Europe is not a major consumer market and China's failed attempt at consumerism to date was mostly focused on internal consumption. USA is still the largest consumer market in the world by far.
Just read an interesting article about China's recessionary economy, and the bear market on consumerism there. Their real estate bubble is still unwinding, and they have a serious youth unemployment problem. But the article mostly focused on consumerism and the anecdotes were interesting. Coach, and even much higher end ladies handbags sold second hand for 80-90% off. That's where the new consumerism is in China for most that got hosed with RE down 30-50% in value. RE has cooled here as well with the formerly hottest areas declining the most. Austin, TX, and Nashville, TN, for example. But there was also an overbuilding of new condos/apartments there this decade and rental price increases, speculation, airbnb, etc. All of that has been reversing given the data I've seen. At this point don't think this is like 2005-2007 because then RE was mostly a national bubble and this latest mini-bubble was still mostly regional, imo. But don't quote me on that, haha. |
