Thin Ice?

The bears say.....peak corporate margins, China hard landing, commodities are failing/ falling, demographics are terrible, Global warming/ climate change, rich vs. poor, nobody can beat the prez in the elections, deflation, sovereign debt crisis will take the world down......

The co ceo of one of the largest and most successful money managers said last week.....
That the deleveraging required facing the western world will.....a) Take maybe ten to fifteen years to work through....or run its course. b) Result in a wealth transfer in general terms from the rich to the poor. c) Will see many folks invested in government debt not being repaid/ losing their money.

Emerging market stocks are up twice as much as the USA equity markets in the first month of the year. Gold is up twice as much as the USA stock market. This strong equity performance (ytd) has not been seen since 1997.

Investors are trapped in bonds (as predicted) and cash.....and bearish (afraid) of stocks.

American have now gone 1000 days without a Federal Budget. And will lose another trillion dollars this year.....this we know can't continue.

Danny Boy seen here navigating (rare) black ice in stride.