BofA Merrill Lynch chief investment strategist Michael Hartnett says 2014 is "the year of the BOOM." "We believe extraordinary policies (560 rate cuts since 2007) mean extraordinary outcomes such as macro and market booms in 2014," writes Hartnett in a note to clients. "In our view, macro will be lifted by lower fiscal drag and lower banking drag. Meanwhile, we think Wall Street’s boom will likely continue until Main Street’s recovery becomes visible and tightening starts (note while tapering may harm the weak hands, we believe only tightening will harm the strong)."
Bonehead California politicians who sell their grand plans in DC end up paying a huge cost in terms of increased poverty. Between California and our Federal taxes lies this huge thing, the New York City federal debt system. This huge transfer of wealth brought to you by Nancy Pelosi and the Undemocrats in the House.
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