Bah Humbug!

What a way to start the morning.

I tune into CNBC most mornings. Today Jason Trennert is suggesting another recession for the second half of 2012.

Hello? I don’t know about you all, but I’m not sure I’m looking forward to that again already.

At issue is America’s debt. Anyone surprised?


  1. If I hear him correctly, Trennert predicts a recession in 2012 due to market imposed “fiscal restraint” (higher bond yields caused by U.S. government reaching it’s debt capacity). But then he predicts 4.2% GDP for 2011 which would actually bring our debt to GDP down from where it is currently.

    So the bond market is going to discipline Uncle Sam in 2012 for reducing it’s debt to GDP the year previous even though it has no problem with our current debtload which is somewhat higher than he predicts in 2011?

    This is why Rosenberg did most of the talking.

  2. Hey, discount people at your own risk. It takes a synthesis of all them to get where you’re going.