Yep, it’s the QE money that’s driving the stock market. I’ve been resisting going into the market as I am very pessimistic regarding the long term economic prospects. Hey, what the heck - why fight the current?
I know of a financial advisory service which is bearish right now. Among the factors which it cites for this stance is “QE1, large budget deficits, QE2, congressional stalemate, long-term outlook for Social Security, QE3, long-term outlook for Medicare, regulatory outlook, Obamacare, QE-infinity.”
Long term prospects?
C'mon, dude. Never forget the immortal words of [our] Lord Keynes:
"In the long run we are all dead".
Make hay while the sun shines and Bernanke's still got his job.