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Global equity rally marches on




According to Bloomberg's index, the capitalization of global equities has soared 88% from its low last year. That represents the creation (or re-creation I should say) of $22.6 trillion in wealth in just over one year. Another $14 trillion and we'll be back to where we started. The recovery from our global nightmare has been impressive and largely unexpected (except here on Calafia Beach), but it's not over yet.

Mark Perry has a nice list of "10 Reasons the Economic Recovery Is Real" that is worth checking out.

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