Indian Markets: Casino is Open...Beware

The Indian and Global equity markets are flying ....up, up and away; Equity markets are supposed to anticipate economic performance which translates into earnings.

Below is a potpourri of articles illuminating the state of the global economy:

Corporate Default Rates...

Less Awful Economy= Good Markets...

Mark to Make Believe...

FASB and Zombie Banks...

Generation of Denial..

Unemployment Statistics...

I take the view of the Appropriation Bill from Congress which says:

Be Prepared for extraordinary crcumstances

While this rally seems to have firm buying I cannot see the light at the end of the tunnel..those that do, please make sure it is not an on-coming train before you proceed.

The charts are no longer friendly...