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By Daily Reckoning Australia
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This US Economic Recovery is Fake

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US stocks fell about 1% Monday (give or take). Let’s see, the total value of the stocks trading on the NYSE is about $17 trillion. So, Monday erased about $170 billion worth of ‘wealth’. By our reckoning, there’s about $7 trillion left to go.

It’s too early to call a top…but we wouldn’t want to be sitting on the uppermost branch of this tree. The higher up you go, the more dangerous your perch.

From where we stand – on the ground and in plenty of cash and gold – the whole thing looks scary. There are too many people in that tree already…all of them counting on calm, sunny weather…and a longer growing season for their money.

What a shame it would be if the tree fell over…or a big branch snapped!

Everybody invests in stocks hoping to ‘beat the market’. But everyone IS the market. Only a few outliers beat it – usually by accident.

Read the rest of this article at The Daily Reckoning

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