It is crucial that investors understand that it is time to choose between 2 different economic narratives, which are very well described here:
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As investors consider this, it might help to realize that, for the fifth year in a row, JP Morgan has just been forced to shift from Narrative A to reality Narrative B in 2014:
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JP Morgan is now forecasting 1.4% US growth in 2014 from 2.8%. US growth in 2014 is now forecast to be the weakest since 2009.
Broken Money, Broken Markets
Today’s new highs are increasingly mechanical, not fundamental — and in a broken market, your 401(k) is the exit liquidity.
