ADRIFT

Some would have you believe "it's different here", it's not as bad here, we have growth, slower than we want but our economy is growing. FED leaves policy stand pat....since 2009 0% rates...on and on.

If you are a small business you can't get to those LOW rates, refi, perhaps...new home perhaps....but prices in most areas still falling.

Chart above shows Chinese market has been falling since it topped in 2009....now breaking to new multi year lows.....yet they have plenty of us $'s and so far haven't heard the words financial crisis there...no one is bailing OUT the Chinese, but their market has been VERY WEAK.

Consumer spending has hit a 5 month low, after the Black friday bargains, shoppers pulled back and stores like BEST BUY have lowered their projections....folks, it's a tough environment.

Noone has answers, I don't expect any. There has been a smoke screen thrown over the smoke screen so even those who know a lot, can even get confused.

Growth will not accelerate into 2012, most think the market will rise maybe 5% into 2012, there is NO worry about a freefall.

ERUOPE stinks, so the $ is rallying killing commondities. GOLD may be in new Bear mkt, OIL seems pricey considering $ rally. IT FEELS LIKE DEFLATION TO ME.

D