Brace yourselves folks, for despite my undeniably longer-term and openly jaded concerns for our Fed-supported U.S. markets, I'm going to be sharing some very bullish data below that just might surprise you.
Why so bullish?
Well, it boils down to relative strength. That is, because things are about to turn so bearish in Europe, this actually means bullish tailwinds for the U.S.
As I've written elsewhere, when things go bad overseas first, this causes massive flows of capital to the U.S. credit and equity markets as the real and perceived best horse in the global glue factory.
Things are falling apart across the Atlantic, and the implications for U.S. investors are now loud and clear.
As an American who grew up on baseball, yet was educated and employed (partly) in Germany with a residence today in France, I suppose it's fair to say I have a global perspective as to both the realities and stereotypes of certain cultural and financial nuances.
As for Germany, well, it conjures up a great deal of stereotypes and ideas, both fair and unfair. I won't defend or address those here.
However, what most of us on both sides of the Atlantic (including the French...) can agree upon is that Germany has a uniquely strong passion for disciplined spending, thrifty saving, and currency risk sensitivity.
This land of Max Weber, along with blunt speak economists like Ludwig von Mises or Walter Eucken, is all too aware (remember Weimar) of what happens when wheel barrels of worthless money are rolled out to solve chronic debt problems.