Commodity prices are rising, quite dramatically for copper, tin and steel scrap. That would not happen if there was an expectation of a slowdown.
There are a lot of different things going on than there was ... People talk about a bubble in housing, but I think there is a lot more bubbleness in oil prices.
This was not a year for macro-sector bets -- whoever bet on sectors, or indexes other than energy, got extremely frustrated. This was the year of individual stocks.
What little earnings reports we have had have been a little bit more disappointing than outperforming.
With corporations sitting on excessively strong balance sheets, they've got the growth to set off a major spending cycle.
That's how the economy pushes forward; new things emerge that no one was thinking about.
We've got total labor compensation growing at 6 percent. . . . We've got record-setting highs in terms of household net worth, and it's still a record high if you exclude housing.
If they don?t raise rates, I will be worried. It tells me that they are very concerned and know something about the economy, I don?t. And that could push all the cyclicals and retailers down.
Business has tons and tons of capability to spend. The longer the recovery keeps going and stock prices go up, the more and more confident business is going to become, and the more it will spend on its operations.
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