---
title: "One-Handed Economist"
url: https://independentstockanalysis.com/one-handed-economist/
description: "On one hand the continuous printing is exceedingly bullish, and at the same time the world’s largest market may have permanently topped. Jeff Saut: “…when…"
published: 2012-09-17
updated: 2012-09-17
---

# One-Handed Economist

Published 2012-09-17

Posted on

by

J.J. Butler

On one hand the continuous printing is exceedingly bullish, and at the same time the world’s largest market may have permanently topped.

Jeff Saut: “…when the stock market generates an overbought condition of this magnitude it suggests there is more strength coming in the future after the overbought condition is rectified.” [Raymond James](http://www.raymondjames.com/inv_strat.htm).

With money printing now ongoing, being permanently bullish seems to be the posture. Toby Connor suggest oil will trigger the next recession: [Gold Scents](http://goldscents.blogspot.com/2012/09/the-next-recession-will-be-triggered-by.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+GoldScentsByTobyConnor+%28GOLD+SCENTS+by+Toby+Connor%29).

On the one hand, Blackouts Spur $18 Billion Power Grid Upgrade: Corporate India at [Bloomberg](http://www.bloomberg.com/news/2012-09-16/blackouts-spur-18-billion-power-grid-upgrade-corporate-india.html). One the other, No quick China fix, says Rio Tinto at [SMH](http://www.smh.com.au/business/no-quick-china-fix-says-rio-tinto-20120916-260lc.html).

[BTU](http://stocktwits.com/message/9545109) and [ACI](http://stocktwits.com/message/9546610) charts. The coal stock chart bounce in a different perspective: [YCharts](http://ycharts.com/companies/ARLP/chart#series=calc:price,type:company,id:ARLP,,calc:price,type:company,id:ANR,,calc:price,type:company,id:BTU,,calc:price,type:company,id:WLT,,calc:price,type:company,id:ACI&maxPoints=550&zoom=ytd&format=indexed).

This summer *ISA* tracked the potential end of the great bond bull market, which has never looked more likely: [Kimble Charting Solutions](http://blog.kimblechartingsolutions.com/wp-content/uploads/2012/09/bondshangingbyanecklinethreadsept13.gif). Bonds Might Have Topped Out, for Good by [Trader Dan](http://goldsilverworlds.com/gold-silver-price-news/bonds-might-have-topped-out-for-good/). Yield-Starved Investors Snap Up Riskier MLPs illustrates froth in the the chase for income: [WSJ](http://online.wsj.com/article/SB10000872396390443720204578000123518794446.html?mod=WSJ_hp_LEFTWhatsNewsCollection#articleTabs=article). With junk bonds at all-time highs, Beware ‘Chicken’ Equity Trades at [Barron’](http://investorplace.com/2012/09/beware-chicken-equity-trades-junk-bonds/)s. Are dividend stocks overvalued? [Dividend Monk](http://dividendmonk.com/are-dividend-stocks-overvalued/) argues otherwise, while history says secular stock bear markets bottom with single digit PE’s and 6% yields. Weal C.