Lunch with Dave – Market Musings and Data Deciphering

Posted by David Rosenberg - Gluskin Sheff

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Lots of talking heads on the wires, with Nouriel Roubini warning that the equity markets have “gone up too much, too soon, too fast”; George Soros saying that several U.S. banks are “basically bankrupt”; and Alan Greenspan talking from both sides of his mouth that GDP growth in Q3 could be better than 3% and at the same time lamenting the weakening job market backdrop. To show how confused even the reporters are, the WSJ ran with Greenspan Foresees a Rise in Unemployment and the FT ran with Growth Could Pass 3%, (Says Greenspan)……