Battle Of The Heavyweights: Rosenberg Vs Ryder On Keene
Sick of listening to the dime a dozen "experts" on CNBC every 5 minutes (with no apparent regard for their reputation - just roll the dice) discussing how the US economy will improve in Q4, after a drop in Q3? Too bad none of them can ever formulate even half a logical or sensible sentence to explain just what it is in the next 2 months and 26 days that will make this miraculous transformation happen, when with every passing day the economy gets worse and worse. In fact, can someone please explain to these soon to be unemployed individuals that the only reason stocks are up is because of QE2, which is happening only because the economy is in dire need of even more negative real interest rates, which is the functional equivalent of what buying securities achieves. It is no wonder we can't remember any of their names: they all blur in a gangrenous cloud of lies and stupidity. We can't say the same for David Rosenberg, who has so far been spot on in his predictions on the economy (the market will catch up sooner or later). The Canadian strategist was on Tom Keene's show earlier, in what always becomes an informative and insightful interview. Rosenberg's soundbite from this particular show: "I think fourth quarter [GDP] can be flat to negative, as almost all the GDP growth in Q3 was from auto-production." Yet to keep it from being one-sided, Keene brings on a bull to attempt to diffuse Rosie's permaunrosyness, in this case John Ryding of RDQ Economics. And yes, John fails.
Full clip below.