"US Economic growth in 2010 and 2011 would be unusually weak as it faces numerous powerful headwinds and weak consumer spending"
Special Situation Blog
"There're powerful tailwinds too" - Special Situation
1)Aggresive Monetary Policy
2)US Consumer Spending is a function of disposable income and not just asset price. Equity price have already surged, prolonged battering of house price has ended, Disposable income is expected to grow at a normal rate soon, as the aftershocks emanating from the Lehman Panic subside.
3)Benefiting from a recovery in all kinds of investment spending.
4)Rising Exports to a fast recovering global economy (Especially Australia, Asia) will be another boost to US economic growth in the medium term.
The NYSE continues to sustain its upbeat mood,even when the US economic data does not look reassuring.