Bombay Sensex was up 81% in 2009

[Photo courtesy:  WSJ]

The year 2009 saw relentless printing by Uncle Ben. He got more than a bit of manipulative helping hand from the Wall Street trading firms,  who are the principal constituents of the Fed, the US Congress. Bingo! “Everything is hunky-dory again. The in US markets were “stabilized” in 2009. Indian stocks were essentially on steroids: up 81%.

The lock-step decline of markets in late 2008 and in early 2009 is normal. But this supposed “recovery” – especially BSE performance -though “real,” it is not normal market behavior. If it sounds too good to be true, it probably is!

Me thinks that 2010 will see gut-wrenching declines in world markets again. This time, pitch-forks to Wall Street.