Quote of the Day

I couldn't agree more with economist Peter Bookvar. In fact, if the powers that be would take his advice (but it would have to be relatively soon), I'll become a raging bull on the stock market:

"If all we have are rate cuts .. QE and payroll tax cuts .. then the policy response cupboard is bare .. I believe the greatest stimulus plan that could be announced in response to a slowing economy would be getting rid of the tariffs, all of them."

In fact I'll go so far as to say that if we don't get rid of all of the tariffs (of the past year+) sooner than later, rate cuts, QE and payroll tax cuts -- by doing little more than inflating one hellacious stock market bubble -- will ultimately set us up for something that'll feel too much like 2008.