“Pessimism is so often wrong because people assume a world where there is no change or innovation. They simply extrapolate from what is going on today, failing to recognize the new developments and insights that might alter current trends.”
-Bill Gates
POINTS TO PONDER
1.
“The US as a net debtor is one of the oldest canards.”
-GaveKal Research’s Charles Gave
POINTS TO PONDER
1. Due to both a negative reaction to the Fed’s second round of quantitative easing (QE II) and this week’s surprisingly pro-growth tax proposals by President Obama,
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“There are no atheists in foxholes or ideologues in financial crises.”
-Fed Chairman BEN BERNANKE
Points to Ponder
1. The primary measure of stock market volatility, the VIX, recently hit 80, the highest level ever recorded. Even readings of 40 are considered extreme;
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