Hailing from four separate corners of the U.S. economy, Apple, Caterpillar, Starbucks, and Merck all beat the street. Throw in the banks and now you’re talking five corners. It’s bullish — 90 percent of the American workforce and rising business may be doing some spending and risk-taking after all. I like this story a lot. (Special hat tip to blogger Douglas McIntyre.)
Ben Bernankemay be too pessimistic. Perhaps it’s time for him to begin his liquidity-exit strategy — before year end. That is, if he has the wisdom to follow market-price indicators in order to prevent an inflationary bubble. Like Dr. Copper for example: The metal’s up 70 percent from the bottom. Are you watching, sir?