Looking for data to prove ...
Not sure how legitimate such analysis is, but here's
something to chew on: (excerpts, emp add)
Investors are finding fresh reasons to bet on an economic rebound.
Stocks rose Thursday as gains in commodities like oil and natural gas signaled that traders expect a strengthening economy will demand more energy.
A jittery first half to the day's trading follows a drop a big drop a day earlier triggered by a spike in long-term interest rates as the yield on the 10-year bond jumped to its highest rate in six months.
Traders say the fractiousness could continue as investors look for data to prove that their bets this spring on an economic recovery were correct.
Seems to describe the market perfectly. Bad data is shrugged off, good data which you look for
"proves" the market rally is for real.
It's not about cap 'n trade.
Crude oil production hit a plateau in May 2005. We appear to be at a geological constraint: peak oil. And then you've got massive debt and the only option on the table is to "grow our way of of it." But how do you grow if we're at peak oil. Further, the decline in oil production has not yet begun. We will grasp at any straw we can to believe this is a recession and that things are getting back to normal.