Hier die Quintessence:
“….We are now morphing towards a world where the government fist is being substituted for the invisible hand, where regulation trumps Wild West capitalism, and where corporate profits are no longer a function of leverage, cheap financing and the rather mindless ability to make a deal with other people’s money.….”

„My transgenerational stock market outlook is this: stocks are cheap when valued within the context of a financed-based economy once dominated by leverage, cheap financing, and even lower corporate tax rates. That world, however, is in our past not our future. More regulation, lower leverage, higher taxes, and a lack of entrepreneurial testosterone are what we must get used to – that and a government checkbook that allows for healing, but crowds the private sector into an awkward and less productive corner. Dow 5,000? We don’t have to go there if current domestic and global policies are focused on asset price support and eventual recapitalization of lending institutions. But 14,000 is a stretch as well. One only has to recognize that roughly 20% of bank capital is now owned by the U.S. government and that a near proportionate share of profits will flow in that direction as well. Better to own corporate bonds than corporate stocks, but that’s a story for another Investment Outlook.”
Der ganze Text hier: Bill Gross, Dow 5000 Redux

soweit ich das in richtig in Erinnerung habe.

Davon haben doch vermutliche alle “No Greenhouse Gas Emissions” Freaks immer geträumt …

Dec. 2 (Bloomberg) — Ford Motor Co. said its U.S. sales fell 31 percent in November while Toyota Motor Corp. posted a 34 percent drop as the recession and Detroit automakers’ aid pleas kept buyers away from showrooms.
Ford’s total declined to 123,222 cars and trucks, from 177,485 a year earlier, the Dearborn, Michigan-based company said today in a statement. Toyota’s sales slid to 130,307 from 197,189.

Was B. scheinbar lieber nicht melden wollte : Chrysler’s Sales fell 47 percent in November. GM’s fell 41 percent.

Die US Notenbank tut das, was sie am besten kann: Das Entstehen von Blasen fördern.

Gestern äußerte sich Ben Bernanke wie folgt: “Although further reductions from the current federal funds rate target of 1 percent are certainly feasible, at this point the scope for using conventional interest-rate policies to support the economy is obviously limited. One option is for the Fed to buy “longer-term Treasury or agency securities on the open market in substantial quantities.This approach might influence the yields on these securities, thus helping to spur aggregate demand.”

Die Einschätzung von David Rosenberg dazu: “Investors should operate under the assumption that the Fed is going to embark on a new course of balance sheet expansion to mitigate the downside risks to the macro outlook and fight the looming deflation battle. This is bullish for long bonds. The 10-year note yield is now firmly below the 3 percent threshold and this next leg down in yield will undoubtedly represent the classic mania-turn-to-bubble phase that quite plausibly sees an overshoot to or even through the April 1954 lows of 2.3 percent.”

Helmut Wüllenweber

Betrachtet man die aktuellisierten Daten von gestern für die Teilkomponente “Price” im ISM Index und lehnt diese an der 10 jährigen TY Rendite an sind noch deutlich tiefere Rendite-Stände zu erwarten.

Der starke Preisverfall kann dieses Tempo natürlich nicht halten und somit wird der Richtungswechsel zur Inflation eventuell schneller in den Erwartungen für die Zukunft eingearbeitet werden. Bondcrash komme……………. Thomas Wegner