us dji up 3% 273-points 5-days running

  1. 1,200 Posts.
    This on the back of mainly no-news days.. Quite an amazing euphoria out there at the moment. One of my favourite paragraphs from recent readings;
    From "Credit Bubble Bulletin - Doug Noland"

    "To support my case that we are in the midst of a Post-Boom Boom (an inarguably quite unbalanced one!), I note the following: Record July sales for Lexus (up 16% y-o-y), the third-best month on record for Acura, BMW sales up 16% y-o-y, Mercedes up 26%, Infinity up 38% and Porsche up 9%. Surging luxury auto sales provide evidence that a large number of individuals are enjoying Boom-time conditions. Furthermore, July total vehicle sales were at a rate of 17.3 million units, a level not surpassed during the nineties boom until the final month of 1998. We are in the midst of extraordinary home sales. Existing Home Sales are set for new records over the next month or two, with average prices already having surged to a new record ($224,900). New Home Sales and prices have surged to new records. Many key housing markets are demonstrating extreme price inflation, especially in Southern California and along the East Coast. Retail Sales have recently accelerated and are at a record level. The ISM non-manufacturing index has jumped to a new record, indicative of booming sectors within the expansive services economy. Key services prices, such as for health care, insurance, and tuition, are demonstrating strong inflation. The financial services industry is Booming, with record earnings and employment. The economy is generating record (debt-induced) Trade Deficits, with the Current Account Deficit surpassing 5% of GDP. Crude oil is above $32 and natural gas is higher than $5."
 
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