With "Bonus Rage" burning up the media wires, people actually seem to be forgetting about the really grim news out there. Stocks may be running up, but bonds and the credit markets show no such optimism, as the ever grim Tyler Durden at Zero Hedge points out. Since bond investors tend to be smarter than stock investors, this is an ominous warning sign in the face of the huge four day rally underway.Another bear is starting to stir as oil prices rise. That would be Russia, which is pushing on with plans for a massive rearming effort to restake a claim as a peer to China and the U.S. in the military realm. Bears with guns = very bad. Hollywood powerbrokers being upside down on mortgages is also bad. Homebuilders are rallying but the median home prices in LA are now at 2002 levels, a retrenchment of more than 50% off the market peaks of 2007. California screaming, indeed. Bloomberg tells of small businesses now getting their credit card rates doubled, a movement that in some cases forces them to close. How ironic, considering that President Obama is in the midst of a giant Small Business lending proposal. More glad tidings tomorrow.
Alex Salkever is Research Director at Piqqem.com, a stock prediction and research community powered by the Wisdom of Crowds
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