Skip to comments.ROSENBERG & SRI-KUMAR: A Eurozone Endgame Could Spur A 2000-Point Rally In The Dow
Posted on 12/01/2011 11:23:15 AM PST by blam
ROSENBERG & SRI-KUMAR: A Eurozone Endgame Could Spur A 2000-Point Rally In The Dow
Dec. 1, 2011, 1:17 PM
Gluskin Sheff + Associates' David Rosenberg and TCW's chief strategist Komal Sri-Kumar agreed on Bloomberg TV today that the Dow could see as much as a 2000-point move if somehow EU leaders managed to tackle the solvency issues at the heart of the eurozone crisis at their summit next week.
Rosenberg and Sri-Kumar both poo-pooed yesterday's nearly 400-point rally in the Dow after the announcement of coordinated central bank liquidity measures.
"When I look back at the historical data [of] daily moves in the Dow400 point, 500 point movesthat doesn't normally happen in a bull market. That's actually more characteristic of the move you get in a bear market than a bull market," Rosenberg said.
But if EU leaders make bigger moves towards a true eurozone endgamepotentially at their EU summit on December 9it could provoke a huge upswing in markets.
"If you get that you get a 2000-point run in the Dow Jones," Sri-Kumar predicted, and Rosenberg quickly chimed in, "You could! You could!"
Watch as they describe just what needs to be done to fix Europe's problems:
(Click to the site to see the video)
(Excerpt) Read more at businessinsider.com ...
Hey - when the collapse of the fiat currency system happens, we could see a 2-million-point jump in the Dow...
It’s all good...
You “could” get the market to fart pink skittles, too I suppose.
They are not going to “solve” anything. The solution is nowhere on the table in regards to EU discussion on this issue. They simply want to be “bailed out” without having to curb their socialist welfare spending.
This is some kind of bizarro world talk.
Go ahead and buy suckers.
The press continues to tell The Stupid People that the reason there continues to be a crisis in Europe is that "the leaders" haven't yet taken the proper steps. As soon as they reach "consensus," there will be "strong action" and we will all live happily ever after.
Shame on those "leaders" for taking so long to do the obvious thing.
At what point does somebody say, "Pssst. There is no solution to this. The spenders have finally run out of Other People's Money. This is all a big kabuki to cover up the fact that what they're going to do is lend Infinite Sums of money, created out of nothing, to paper over the fact that half the countries in Europe are bankrupt. The result will be hyper-inflation, a worthless Euro, riots in the streets, and politicians blaming 'speculators' and 'banksters' for the fact that the governments can't just spend and spend and spend, forever."
Yes, the bankers seem to do pretty well in the crony capitalism model.
These economists are in total denial it seems. Or they know but they think lying will somehow help keep things from falling over.
The only thing that could help is for the social welfare states to live within their means, the real meaning of that. Something like that is not even up for discussion in those countries.
Meanwhile the US is ready to use the IMF to give them a transfusion that will kill both patients