Rosenberg Daily Soundbites

• The action is rather mixed to start off the day and week; the U.S. dollar is relatively firm; inflation expectations should now be coming down with commodity prices slipping
• The “smart money” is turning increasingly less bullish while the downward price trend is intact; if the stock market continues to weaken and home prices remain on their downward path, we will start to see household wealth contract again
• An artificial recovery: Indeed, this 2009-2011 recovery and cyclical bull market has been as artificial as the 2003-07 expansion
• We’re bullish! Yes we are ... on income