Let’s call this what it is: A new bull market in stocks has emerged from the ashes of the financial meltdown and the deep recession that followed. And it’s signaling the onset of economic recovery. Free-market capitalism is more durable, resilient, and self-correcting than its detractors would have us believe.
But this is much more than a summer rally. It’s a new bull market heralding a new economic recovery. Free-market capitalism is trying hard to push back against Obama’s central-planning. The bears will lose this round.
MP: And the "new bull market heralding a new economic recovery" isn't only happening in the U.S., we've got a major worldwide bull market and economic recovery taking place. For example, see the chart above of the MSCI World Stock Market Index, which closed yesterday at 1,044.75 points, and is now approaching a 10-month high, and is up more than 50% from the March lows. And look at the chart below of the MSCI Emerging Markets Index which illustrates the roaring bull market in economies around the world like India (+66.2% YTD), China (+47.6%), Russia (+55%), Brazil (+68%), Turkey (+59%), Taiwan (+47%), etc. As a group, the emerging markets are 78% above the March lows, and the MSCI Emerging Markets Index is at the highest level in more than 10 months, and up by more than 47% year-to-date.
Welcome to the World Bull Market and Global Economic Recovery of 2009!