David Rosenberg Crushes The Trump-flationary Dream: "That's Just Not Gonna Happen"

Zero Hedge ^ | 1-29-2017 | Tyler Durden

[blam]

"It seems to me like a lot of people think we're in a new inflationary boom," but, warns Gluskin-Sheffs David Rosenberg, "the answer is no... that's just not gonna happen. It's not like Ronald Reagan at all in that regard."

Submitted by Patrick Ceresna via Macrovoices.com

*This time around, not only are valuations at 15-year highs but we're entering it into the eighth year of the expansion of the bull market. You have to respect where were you are in the market cycle in the business expansion and we're much more mature now than we were in that early stage of Reagan or you can argue the early stage of Bill Clinton or Barrack Obama. I mean the benefit of being elected at the bottom of the cycle, then you can just ride it up and just take credit for it. I think that the challenge for Donald Trump with all deference to the animal spirit rally they were seeing right now is that the multiples are really stretched and that maybe if were not even in the ninth inning of the game here, we're certainly somewhere in or around the seventh inning stretch. So, the answer is no. It's not like Ronald Reagan at all in that regard. ◦So basically, I'm supposed to take it at face value because the markets are telling me that this is their view today, and their view today might not be the market's view 3, 6, 12 months from now or 5 years from now. But the market's telling me that one man, President Trump is gonna be able to, with fiscal policy, will be able to do what Bernanke and Yellen and Draghi and Trichet and Koroda and Carney,

(snip)

[blam]

Then there's this:

Are You Ready For An Inflationary Depression?

We are heading into a new depression. It is not coming. It is already here but we are only in the beginning so it may not be easy for many people to see just yet. Once it is easy to see it will be too late for any meaningful actions to mitigate the effects. Just as you must prepare for a tornado ahead of time, you must prepare for economic conditions early."

[jsanders2001]

I blame the economy on 8 years of Obama who intentionally destroyed it by falsifying the numbers, overregulation, creating false environmental religions and throwing excesive money into supporting the illusion,, doubling the deficit, handing out funds to his Muslim friends overseas every chance he got, plus giving himself a raise upon leaving office, OT to mention his family’s excessive vacations, and probable they of Treasury funds.. Trump’s got a lot of work tdo to straighten out his mess.

[jsanders2001]

I blame the economy on 8 years of Obama who intentionally destroyed it by falsifying the numbers, overregulation, creating false environmental religions and throwing excesive money into supporting the illusion,, doubling the deficit, handing out funds to his Muslim friends overseas every chance he got, plus giving himself a raise upon leaving office, not to mention his family’s excessive vacations, and probable theft of Treasury funds.. Trump’s got a lot of work tdo to straighten out his mess.

[thinden]

Sounds like jimmah carter’s own “stagflation”

[ForYourChildren]

“I blame the economy on 8 years of Obama who intentionally destroyed it by falsifying the numbers, overregulation, creating false environmental religions and throwing excesive money into supporting the illusion,, doubling the deficit, handing out funds to his Muslim friends overseas every chance he got, plus giving himself a raise upon leaving office, OT to mention his family’s excessive vacations, and probable they of Treasury funds.. Trump’s got a lot of work tdo to straighten out his mess.”

yep!