Sandvol
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- Sep 14, 2010
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Eventually the market will go down and you will claim you are right and that QE was obviously the cause. Then it will go up, and I'll claim I was right and that once the market saw that the absence of QE did not change the fundamentals, it was bound to rebound.
What I can see in the rear view mirror is that with all of the QE and then the tapering, and the certainty of rates rising next year, the market is still up almost 6 percent over the prior year, and 78 % over the past five years.
I'm not talking about the market just going down. Progressivism has built itself on this optimism over the last century. As the optimism has grown-since the last Great Depression- government has grown. It will be interesting to watch the progressive politicians if or when this thing collapses. Wall Street and corporate America will suddenly become the villain. They'll be pointing the finger everywhere but where it should be pointed and that's at themselves. I can hear them now-"Wall Street's not to be trusted! We need to curb Wall Street!" "Put your trust in us."
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