The stock markets are booming, the economy is booming, and the main stream media is booming with stories about both. Yet, as IceCap Asset Management's Keith Dicker warns, *if one looked closely between all of this booming, one would find that everything isn’t quite booming after all*.
For starters, the latest Wall Street Journal/NBC poll reported 54% of respondents would vote to replace EVERY member of the American congress if the ballot option was available. Let’s think about that for a moment – the majority of people in the most democratic country in the world would boot out every single elected official in Washington.
*This isn’t exactly a booming vote of confidence.*
The same poll also reported that 66% believe the American economy is on the wrong track and 65% said their representative didn’t deserve another term in Washington.
*But, the economy and the stock market are booming.*
Shifting our attention to Europe, the big media and governments are also reporting that the stock market is booming and the economy is also booming once again – just as the governments hoped (there’s that word again) it would.
*Yet, if the stock market and the economy are booming why do we see*:
· UK considering leaving the European Union
· Scotland voting to leave the UK
· Catalonia voting to leave Spain
· Venice voting to leave Italy
· Greece not being allowed a vote on leaving the Eurozone.
From our perspective, *the only thing booming in Europe are separatist movements* – no one wants to stay, except of course those who have a vested interest in the status quo.
...
*We are very confident that it is only a matter of when – not if, the Eurozone breaks and the breaking will be caused by either a planned election or a grass roots social movement to force change.*
Now, there are numerous straws that can break the European camel’s back – simply close your eyes and pick one. The point being, despite umpteen different bailouts, followed by umpteen different stimulus programs, neatly delivered by umpteen different election promises – current European governments are increasingly becoming less enamoured by its voting citizens.
Full IceCap Letter below:
2014.05 IceCap Global Market Outlook Reported by Zero Hedge 33 minutes ago.
For starters, the latest Wall Street Journal/NBC poll reported 54% of respondents would vote to replace EVERY member of the American congress if the ballot option was available. Let’s think about that for a moment – the majority of people in the most democratic country in the world would boot out every single elected official in Washington.
*This isn’t exactly a booming vote of confidence.*
The same poll also reported that 66% believe the American economy is on the wrong track and 65% said their representative didn’t deserve another term in Washington.
*But, the economy and the stock market are booming.*
Shifting our attention to Europe, the big media and governments are also reporting that the stock market is booming and the economy is also booming once again – just as the governments hoped (there’s that word again) it would.
*Yet, if the stock market and the economy are booming why do we see*:
· UK considering leaving the European Union
· Scotland voting to leave the UK
· Catalonia voting to leave Spain
· Venice voting to leave Italy
· Greece not being allowed a vote on leaving the Eurozone.
From our perspective, *the only thing booming in Europe are separatist movements* – no one wants to stay, except of course those who have a vested interest in the status quo.
...
*We are very confident that it is only a matter of when – not if, the Eurozone breaks and the breaking will be caused by either a planned election or a grass roots social movement to force change.*
Now, there are numerous straws that can break the European camel’s back – simply close your eyes and pick one. The point being, despite umpteen different bailouts, followed by umpteen different stimulus programs, neatly delivered by umpteen different election promises – current European governments are increasingly becoming less enamoured by its voting citizens.
Full IceCap Letter below:
2014.05 IceCap Global Market Outlook Reported by Zero Hedge 33 minutes ago.