More Evidence of Global Economic Bubbles Bursting… Outlook Has Become More Negative… Fleckenstein: CNBC Is Talking Up A Happy Future ‘When There’s No Shot That That Happens’

Jon Blogosphere, Economy, Government, Market Commentary

JAPANESE GOV’T DOWNGRADES VIEW OF ECONOMY, THIRD LARGEST IN WORLD
More evidence of global economic bubbles
The Japanese government has downgraded its assessment of the economy for the first time in five months, as a string of weak data hammers hopes for a quick recovery following Tokyo’s April sales tax hike. The monthly report acknowledged spending at home had stalled, throwing into question Tokyo’s plans to hike sales taxes again next year as Prime Minister Shinzo Abe offered a rare acknowledgement that his growth blitz was taking a hit.
But the report added that depressed conditions were due partly to poor weather – Japan was inundated with heavy rainfall and a string of typhoons this summer.
Fleckenstein Goes After CNBC Anchor And Her Rabid Colleagues For Talking Up A Happy Future ‘When There’s No Shot That That Happens’
‘[T]he certainty with which the woman that I got interviewed by (on CNBC) this week sees the future, and the need (she sees) to be involved in stocks is rather remarkable since most talking heads don’t know anything about investing,’ Bill Fleckenstein of Fleckenstein Capital said. ‘Otherwise, they would be doing it instead of talking about other people doing it, you know what I mean?’
In a new interview with King World News, long-time Fed-critic Fleckenstein addresses the startling shouting match he got into with CNBC anchor Jackie DeAngelis on Tuesday.
For years, Fleckenstein had been warning investors through interviews that the loose monetary policies of the various developed market central banks would end in financial catastrophe.

This post was published at Investment WatchBlog on September 21st, 2014.