OTOH - Rosenberg offers some positive stats - with asterisk

There have actually been some positives for the markets in recent days and weeks.

• The earnings season is going as planned thus far 
• There has been some success in capping the oil spill  
• Some calm in Europe after the springtime instability   
• The shift in the public opinion polls towards the right 
• China’s flexibility on the currency (though the yuan has barely risen) 
• Obama’s overtures and shift in tone in the mid-East.   
• And, the National Association of Business Economists continues to forecast sunny times ahead.  

But we still have to ask the question — if things are as bright as the bulls would have us believe, why is the IMF seeking another $250 billion in additional commitments?  More bad debts seem to be coming down the pike.

---ibid