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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (126579)	12/1/2005 1:46:37 AM
From: Win-Lose-Draw	Read Replies (1) \| Respond to of 209892

There is a world of difference between being open to, say, a new ATH on the Dow, and believing in Bull Eternal. I know you know this: markets can and do simultaneously support seemingly contradictory viewpoints. Where I take a different view on the macro picture is in not viewing the US economy as a discrete unit. Every economy with a solid currency peg to the US dollar can be considered to be part of the US economy: China may as well be the 51st state, and Saudi Arabia the 52nd. I don't worry too much about 15% (or whatever) housing affordability because the US real estate market is to the rest of the dollar-pegged world what a condo in Manhattan is to a double-wide in Alabama. The US housing market should be very expensive, even for locals, because it draws the top strata from the entire globe.