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The market is purely being driven by liquidity and pumping from the world's central banks*.
*Except for a few things, such as...
Initial jobless claims that keep grinding lower.
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Chicago-era hiring intentions at the highest level since 1984.
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And a rebound in housing starts.
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And rising car sales.
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Better and better readings from the Dallas Federal Reserve.
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And a nice uptick in the Richmond Fed Manufacturing Survey.
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And a collapse in anxiety about finding a job.
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And a big upswing in Gallup's survey of economic confidence.
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And a long string of positive numbers in Citi's Economic Surprise Index
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And, well... We could go on , but you get the point.
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See Also:
- Check Out The Fed's Amazing Power Of Prediction
- It's Time To Clear Up A Major Misconception About Inflation
- FOMC MINUTES: A Few Fed Officials Said QE3 May Become Necessary
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