How much of the stock gains were due to quantitative easing? I listen to the cable financial pundits etc in the car and office and for the past year + it was never about how well the companies were doing, it was "will the fed taper?" or not. Now that they are tapering the markets have not moved up much at all. You quote Nasdaq, but that market has not been doing so well since the tapering has been going on if you look at the charts.
The stock market and the US economy are not one in the same necessarily. I can only say from being a small business owner and seeing a decline in business in my world and that of other small business owners I am friends with in different trades, that things are not getting better.
That nasty national debt isn't going away and the dollar is losing share worldwide as we speak and this trend will only get worse. I wish it weren't so. Right now it is easy to be a PM bear and look smart. We'll see though in the next months or year who is right and who is wrong.
Just my opinion.
Jim
