CS is saying Europe has growth in its East to fall back on, China has tools to ignite domestic demand, but Japan depends on US demand, and the US can just hope for the best!

I'd think a huge factor is where oil riches are flowing, and I suspect that's NOT to the US (which seizes the assets of unfriendlies) or Japan (which offers low returns).

The logical source of massive global demand is the developing world, the BRIC's (Brazil, Russia, India, China), Africa, etc. Bringing a middle-class lifestyles to their populations could fuel a hundred-year boom, based on straight-forward, well-known businesses.

And the logical source of capital is oil-rich countries investing in their own countries and throughout the developing world.

But are there sufficient intermediaries to package major investments? Can this happen while global imbalances (growing dollar glut, etc.) and wild speculation (hedge funds, derivatives, credit growth) loom?

And, is this just a pipe dream?

There was a recent rather acrimonious exchange triggered by a rather unfair (IMO) posting by "Claire".

I would suggest following Bill's lead and keeping our discourse civil.

Also, I want to thank Bill for being an interesting and time-saving resource as I try to improve my trading abilities.

This blog is, I am certain, a tremendous amount of work and I have learned an enormous amount from reading Bill's opinions and also the many sources of information that he links to.

Finally, as to Bill's calls: We should remember that even if you followed them slavishly it would still be your own choice and your responsiblity. Bill isn't selling anything; simply providing information we can accept or reject. I listen (politely) to many opionions from many people much less knowledgable and respected than Bill. Feel free to point out Bill's errors but do so with the respect due to anyone willing to share their hard won knowledge and experience.

Bill: Thanks again for all your efforts.