THE BIG PICTURE

Well, if you read much of the financial media today, their rolling out all the negative numbers in high style.

For weeks negative news rolled into the stock market without roiling it much or ruffling many feathers.

In today's Financial Times citing concerns about slow growth and "the new normal,"we read this:

Growth in emerging markets is at its lowest ebb since the aftermath of the financial crisis due to a combination of China's fading dynamism, a sputtering of performance in eastern Europe and Latin America.

Now as most investors by now know that the IMF brought it's dog and pony circus to Washington last week where Christine Lagarde made her belly dance statement with her greedy hand out for more U.S. money for the International Monetary Fund.

Lagarde and a few of her comrades leveled some comments about a landscape change in emerging markets that spells slower and lower growth for emerging markets.

Though the GDP numbers for the third quarter are not out yet, here are some of this projected hand wringing concerns. China's GDP expected to fall to 6.8 percent from 7.5. Brazil's growth is expected to be a measly 0.3 percent for the year, off from 2.5 percent last year.

And then there is Russia and Germany and the spill over to eastern  European countries, not to mention the Federal Reserve's over-announced end of QE. As a kid growing up there was this well-known guy in the neighborhood who went around for months telling everyone he was leaving until one day there wasn't anyone left to tell and, to save face, he had to leave.

The whole idea behind the so-called new normal is its scary threat of permanence.

But as one economic wag in the Times' piece points out, the IMF's track record of accuracy is not one you want to bet the farm on, saying,"the IMF had revised downward it forecasts for EM growth on six occasions since late 2011."

But here's our view and it's not anything about "new normal" nonsense and everything about cycles. Broaden your horizon a bit and place some money on these geniuses being wrong. Take what the market is giving you. Nearsighted, short-term folks never see the big picture.  
t. man hatter