Stealth About-Face of the Year


After 5000 Dow points you’re gonna go with ‘the tax cuts are allowing me to use the term ‘Recovery'”?

Almost snuck that one by us…


There is a subtle shift underway at some of the most bearish enclaves around the web and The Street.  Rather than admissions that the world is not ending, we are getting equivocation:  “Yes, things may be improving but it’s only because of the Fed/Treasury/POMO/Jews/Freemasons/China etc.  This is actually a notable change from their saying that nothing was improving at all.

Data is still being picked apart, motives questioned, bubbles sighted at every turn.  But the rhetoric is shifting – if you pay close attention, you can spot it everywhere.

Capitulation?  You tell me.

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