From Cautious Optimist To Skeptical Pessimist
December 2, 2012 - 1:29pm
Thus far, the US has been the mainstay of Western recovery - the basis upon which investors' cautious optimism is espoused. As Diapason Commodities Sean Corrigan notes, this optimism is based upon "A large slug of non-recourse debt default in the residential mortgage area has helped people escape the yoke while not serving to imperil the state-supported banks. A drastic, 20%-plus fall in house prices has seen the market clear, forming a base from which many feel a new advance in construction activity is slowly being built. The shale energy bonanza – if not yet filtering through to the price of the consumer’s routine fill-up – has begun to alter the landscape as far as producer competitiveness is concerned." And yet... Via Sean Corrigan's Material Evidence, Diapason Commodities: ...a host of interrelated indicators are flashing red; especially when one notes that these are c...
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