Hedge fund manager, David Tepper, appeared on Bloomberg TV earlier today where he gushed with bullish optimism and declared that the U.S. was on the verge of an explosion of greatness.
Greatness for whom, that is the question? Maybe greatness for guys like Tepper, who got off easy with only having to fork over a few extra percent in taxes thanks to the recent fiscal cliff deal. Other than that, Tepper and his hedge fund buddies will be left alone to conduct their billion dollar gambling games in the world's financial markets. So when you're paying more for a gallon of gas and a loaf of bread be sure to remember who to thank.
I find it bizarre that Tepper's so optimistic now, even though we've just seen taxes raised on working people, austerty about to happen in the U.S. and a president who's been freshly installed for a second term with entitlement reform on his agenda. Yet despite all this, Tepper says there basically nothoing to be bearish about.