Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Thursday, April 15, 2010

Market up! All ok!

"U.S. consumer discretionary spending is being fuelled by everything except organic wage growth - strategic mortgage defaults adding over $100 billion of cash flow and $112 billion of tax stimulus funds ... excluding these factors, consumer spending would be contracting at roughly a 3% annual rate!  Or take the financials, where we have insolvent institutions managing with the complicity of ‘extend and pretend’ government policies to have accounted for an amazing 86% of the total growth in corporate earnings over the past year."
---Rosenberg, 4/14

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