OK, I’ll bite. From Adam Carr today:
…we know the US economy is booming. Following a v-shaped recovery post the GFC and one of the strongest post-recession recoveries on record, the US economy is accelerating further…
The hordes of dead-eyed, zombie-recession freaks that seem to have populated our country can’t hope to compete with that. They’ve been out PR’d by reality. Even the US Federal Reserve has capitulated to the facts. That business is becoming more confident, reporting stronger conditions, is critical for Australia, for a country that had no reason to expect a downturn. No imbalances or excess, just sloppy analysis from doomsayers and some of the worst policy leaders in a generation. Confidence was the missing ingredient — it has turned. That the US economy is surging and accelerating means that we will continue to see an ongoing positive impact on animals spirits here.
Very amusing Adam, following yesterday’s pearler:
Hilarity ensues.
What’s bizarre about it all is that as asset allocation guy, Adam is missing out on all of the good plays. At MB we’ve been long the US and S&P500 for two years, even as we’ve been short Australia, its dollar, and iron ore in particular for three years. That’s twice the returns with a built-in hedge!
One wonders why Adam reckons money can only be made by Australians in Australia and only if prices rise. Distorting everything through that prism really demands that we call in the investment white coats.