VitalAccurateThinking

Steffy Makes Prediction

The Chronicle's perennial anti-business pessimist makes a prediction:

"Somebody should tell the market the party's winding down.

It stands at the end of the bar, ordering round after round, unaware that the bartender is washing up for the night.

The Standard & Poor's 500 Index has risen almost 11 percent during the past three months, even as signs have mounted that inflation and interest rates are rising and growth is slowing.

The steady clink, clink, clink of the rising 10-year Treasury bill during the past month is the first tip-off that closing time is nigh."

We'll see if Steffy is wrong about this just like he is wrong about almost everything else.

posted by Jim VAT @ 9:32 PM