---
title: "Combine Markets"
url: https://independentstockanalysis.com/combine-markets/
description: "A constructive look at the election and recovery: Todd Sullivan . Alternatively, the case to get more defensive: Josh Brown . ISA typically has no opinion…"
published: 2012-11-08
updated: 2012-11-08
---

# Combine Markets

Published 2012-11-08

Posted on

by

J.J. Butler

A constructive look at the election and recovery: [Todd Sullivan](http://www.valueplays.net/2012/11/07/the-election-and-the-recovery/). Alternatively, the case to get more defensive: [Josh Brown](http://www.thereformedbroker.com/2012/11/07/fire-in-the-disco/).

*ISA* typically has no opinion on recession or market direction. Yet *ISA*notes because the macro environment consists of leverage -a debt bubble- the next recession will be a doozy and will usher in unprecedented printing. Perhaps the best bargains since I was in kindergarten will be available. [Distressed Debt Investing](http://www.distressed-debt-investing.com/2012/11/my-favorite-quote-from-most-recent.html):

*“A market rising for non-fundamental reasons (i.e., QE and ECB bond repurchases) is always one that demands a healthy dose of skepticism.”*

*“The next bankruptcy cycle, whether in 2 or 3 or 4 years, is going to be one for the ages. Count on it.”*

Yet, the wait could be quite a while. October home prices rise 2.9% as rents soar above 5% at [Housing Wire](http://www.housingwire.com/news/october-home-prices-rise-29-rents-soar-above-5).

Commodity re-balancing: [Sober Look](http://soberlook.com/2012/11/impact-of-commodity-index-rebalancing.html). Rick Rule on uranium at [Daily Wealth](http://www.dailywealth.com/2251/The-Most-Dramatic-Speculative-Opportunity-in-Energy-Today).

Crazy Question “Are We in a Farmland Real Estate Bubble?” at [Dollars and Dirt](http://www.dollarsanddirt.com/2012/03/14/iowa-farmland-bubble-prices/):

Combine harvester pulled by 33 horses, Walla Walla, ca. 1902: