Following this morning's ADP employment report, stocks began to rise. Stocks had been down throughout most of the night, and are still negative. But once again, this bad new is perceived as good news. What a twisted world!
And this from John Hussman:
"The U.S. has become a nation preoccupied with eating its seed corn; placing consumption over investment, outsourcing its jobs, hollowing out its middle class, and accumulating increasing debt burdens to do so. What our nation needs most is to adopt fiscal policies that direct those seeds to productive soil, and to reject increasingly arbitrary monetary policies that encourage the nation to focus on what is paper instead of what is real."
By John P. Hussman, Ph.D.
President, Hussman Investment Trust
