Sucker Rally

摘要

The optimistic view of the economy, widely espoused on Wall Street, goes like this: The Nasdaq's January bounce back is a harbinger of good economic news and its February retreat only temporary. Only the year's first half will be bad, and a wonderful second half will follow. The Fed is easing, an early tax cut is assured, energy prices will stabilize or fall, excess inventory will soon be liquidated, and a Nasdaq rally from bargain levels will restore consumer confidence and spending.