Recently the blokes at Macrobusiness are beginning to see bullish signs everywhere. And, every time, they only begin to see these signs some time after the herd of bulls have stampeded over them and vanished in the distance, leaving hoof-marks to be rubbed off their bearskins.
But here at EZFKA we’re a positive bunch, so come we to praise them, not to bury them, modest as their progress has been. In the hopes that encouragement breeds improvement, a brighter tomorrow, as it were. Here is an inventory of items where the blokes are beginning to see the signs:
Iron ore… after it hit record highs: https://www.macrobusiness.com.au/2020/11/daily-iron-ore-price-update-six-year-high/
Property…. after 20 years: https://www.macrobusiness.com.au/2020/12/rampaging-mortgage-growth-bullish-for-aussie-property/
AUD… after being wrong basically always: https://www.macrobusiness.com.au/2020/12/more-australian-dollar-upside-with-volatility/
And ASX and Global shares (i.e. basically everything else in the world) https://www.macrobusiness.com.au/2020/12/global-boom-imminent/ :
And let’s not forget other awesome examples of being profoundly wrong, such as BTC and the COVID vaccine that would never happen (and now it seems we have about a dozen), car sales, HomeBuilder, gosh, this practically writes itself! (In the real world, hardly anyone is surprised by what twelvety gazillion Dollars -printed under the flimsy cover of a pandemic- have done, of course.)
How can you be wrong, so consistently, for so wrong? Without noticing. Is it some sort of record? Or a case of a broken record? Or is it broken clock. It’s hard to find answers, especially if you’ve locked yourself in an echo chamber of your own construction, superbly insulated from reality.
All that said, perhaps this bullish turn of Macrobusiness could be a sign. Blokes Beware!