Taking a Long view

Every one seems to be wondering whether this fall is temporary or there is more to it. These discussions are bound to happen once markets pick up a trend and stop moving sideways. On one side of argument there are equity bulls who have history on their side, both recent and past. The other side has got a neat set of rationale, like always, but along the way of recovery they seem to have lost their teeth and are no more confident of their own prophecy. Nevertheless their arguments are sound.

But from whatever little I have learnt from the markets, I am reasonably sure that the rising equity market, just like inflation, is a necessary evil for the world we live in. Its always good or atleast projected so, for common people, businesses, governments and countries etc. No doubt why the biggest and most powerful bears of the lot, read central bankers, have never tried to prick a stock bubble directly.