David Rosenberg On "Fascinating Markets", Or 2011 vs 2012 vs 2013

Unsure what the current blistering start for the S&P 500 means in the new year? Here is David Rosenberg putting the last two years in perspective to the last two weeks. Alas, with fat tails now solely emanating from politicians (as the Fed has guaranteed nothing wrong can ever happen again on the monetary side, until everything goes wrong of course), and politicians being inherently irrational and unpredictable, it is not exactly clear how anyone can factor for what in just one month is sure to be the biggest clash in history between two sides of a Congress that has never been more polarized. via Gluskin Sheff Fascinating Markets Go to 2011 and we had corporate earnings growth and yet the S&P 500 was flat as a pancake. Why? Because between the recurring euro zone financial strains and the debt ceiling issue that summer we had a two-point compression in the P/E. Fast forward to 20...