My Fragile, Free-Market Fix

Up is down, black is white, dogs and cats love each other. It seems, much to my chagrin and that of many others, Ken Fisher is right once again. A review by Bloomberg of companies in the S&P 500 that should benefit from Bill Gross’s concept of “new normal” are faring worse than more traditional auto and mining companies that would comprise the “old normal,” or business as usual. Many sectors, specifically auto and related companies, received huge government subsidies (gargantuan is more like it), and are out on top this earnings season.