Thursday, August 13, 2009

World Stock Mkt. Rally, MSCI Index Hits 10 Mo High

The MSCI Barra World Stock Market Index reached a fresh 10-month high today of 1,071.06 points, closing at the highest level since October 6, 2008 (see chart above). From its early March low, the World Stock Market Index has increased 55.5%. Leading the world stock market rally are the emerging markets, which are up by 80% since early March.

Originally posted at Carpe Diem.


At 8/13/2009 7:53 PM, Blogger Mark said...

Which begs the question: are happy days here again, or is this the next bubble to burst?

At 8/13/2009 9:41 PM, Anonymous Benny The Free Marketeer said...

This recession is over, and I think Dr. Perry dserves credit for noting it early.
I actually think we have a 20-year global boom in front of us--a lot like the last 20 years.
The only thing we have to fear is fear itself--the financial system.
Instead of bashing left-wing spending (but never right-wing spending) I wish Dr. Perry would begin an serious exploration on how we can develop a sturdy financial system, one that never needs federal tax dollars, and does not collapse with a strong breeze.
One that does not transit one sector flop to the world.
If businesses have confidence in our international and domestic financial systems, the world ahead is very bright. There is more R&D going on globally than ever before and information is transmitted globally and instantly.
Global living standards will rise more in the next 20 years than the least 20 years--if we can have stable financial institutions.
I hope to read solutions, not bashing, in future Dr. Perry blogs.

At 8/14/2009 1:51 PM, Blogger ExtremeHobo said...

Benny, free markets are never going to be the stable security blanket you are looking for. Free markets are prone to massive variations BUT the best part about them is that they are self correcting without any "heavy hand" of oversight needed.

I also would like to disagree with your baseless statement that Mark never bashes the right wing spending. If you took even the slightest amount of time to look around you would find articles such as this one on CARPE DIEM

"The top three "porkers" identified in the "Pig Book" all were Republican members of the Senate Appropriations Committe"

So yeah, i would appreciate more inquisitive comments like the 80% of one you made here, and less bashing Dr. Perry.

At 8/14/2009 2:15 PM, Anonymous Benny The Free Marketeer said...

Okay, but I still would like to see serious exploration of what type of reg and tax structure would result in the sturdiest financial sector.
I am a free marketeer, and I am open to the idea it be total dereg. I am open to the idea that GNMA and FNMA be totally privatized, and that the home mortgage interest tax deduction be eliminated. Even that capital requirements be doubled.
But Dr. Perry is not blogging on that. I keep reading over and over and over again about health care.

At 8/14/2009 3:55 PM, Blogger ExtremeHobo said...

A fair critique. I think Mark is just on the healthcare bandwagon because its such a hot topic right now.

BTW: After today's loses I really hope happy days are here again. Is it possible to have a booming economy while also having gigantic inflation?


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