Locomotive?

There has been a slowing offshore - witness German Ind Prod and Exports coming in weaker than expected - and the view is that only the US can pull the train. Today’s strong US Exports for April indicate someone’s alive out there. It won’t take much from the US to provide a spark but both Obama’s and the Fed’s tinkering must stop. Potential employers know there’s one huge phony buyer of Treasuries, what several observers have called a Ponzi scheme. It’s to bail out failed stimulus. That changes, so will they.


Robert Craven