Greenspan has done a good job of morphing himself into the nation's chief economic officer and chief investment officer. He's been elevated to the status where we can't cut taxes unless Greenspan says we can cut them.
More Quotes from Jim Bianco:
While the (producer-price) number is positive, one number cannot offset four months of strong numbers. If we get more weak numbers, we could push the idea of a Fed tightening away, but this one number won't do it. I think that the idea that the Fed is going to move is still very much on the table.Jim Bianco
It's not so much what bonds need to do. The focus is stocks and what that market does. Stocks need to re-introduce the element of risk and fall 10 percent off their highs to make bonds look good.
Jim Bianco
The news doesn't come much better than this.
Jim Bianco
Now that yields are moving up, all these reasons have been shoved aside, and order in the universe has been restored.
Jim Bianco
We're seeing a bubble bursting in the bond market. It was way overdone there was really no justification for bonds being at such a low yield.
Jim Bianco
So this continues a pattern where the economic community seems to consistently underestimate the strength in the economy.
Jim Bianco
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