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Looks like Luskin is getting his courage back. Nothing like a 30% rally to get some snort in those nostrils. For a few weeks he was a scared teddy bear.

I do agree with his thesis that we over-did it on the down side and its time to take Roubini and his ilk of chicken little's to the wood shed.

Stocks are melting up and best stocks are still selling at generational lows. The S&P 500 is selling at a 50% discount to normal risk premiums relative to treasuries. This anomly cannot last.
http://www.pzena.com/investment-analysis-4
(see figure 1 on the pzena analysis.

Mr. Luskin,

You have no idea what a relief it is to read that "what's wrong with this economy is investing"! Now I can stop worrying about all those things that I foolishly thought was wrong with the economy:

over-leveraged banks
under-water mortgages
rising foreclosures
layoffs and more layoffs
government predicts rising unemployment until Q2-2010
reduced salaries, benefits, and work hours
mounting credit card late payments
rising, no... skyrocketing national debt
inflation, deflation, stagflation (pick the one you like)
CDOs, CDSs, and the rest of the derivative alphabet soup
failing auto industry
pension fund losses
commercial mortgage problems
erratic market behavior (from program trading?)
deteriorating economies in eastern Europe
national debts greater than GDP in Japan, Britain & elsewhere
budget and tax crises in cities, counties & states

No, the problem with the economy is there just ne...(Read more of this comment)eds to be more investing. Now if I close my eyes,,, I can almost believe it.

May all your dreams come true, Ubu.

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