A few days ago I wrote about being a contrarian. Lately Iâ€™m feeling crowded.
This week, for example, the latest numbers showed the Canadian economy is contracting, not expanding. Duh. Like we needed to count anything to know that.
The H1N1 saga is going from scare to farce, and on its way to panic. There will be economic ramifications of this. Count on it.
The US GDP grew by an astounding amount but the stock market caved. Why? Because while you may be able to stimulate some things into a better mood, but the economy ainâ€™t one of them. Give people money to buy stuff, and they will. Just donâ€™t try cutting them off.
Oil prices at triple digits? Itâ€™s the latest scandalizing buzz, just like the Canadian dollar at par. And you read that stuff here a-g-e-s ago.
And real estate? Pshaw. The MSM just noticed we have a bubble brewing, thanks to that wild & crazy dude, Mark Carney. I mean, look at this. Greedy vendors. Rapacious buyers. Gluttonous lenders. Giddy realtors. Itâ€™s all there â€“ the classic ingredients of an asset ready to pop, thanks to interest rates so low they have turned into a narcotic.
But, not news here. This just means itâ€™s probably coming faster.
Still, it hurts. Give me a hug. Iâ€™m going m-m-m-mainstream.