WSJ’s O’Grady: We Are in a Long-Term Growing Economy and Eventually We Are Going To Hit a Recession

RUSH EXCERPT:

O’GRADY: “It is triggered by this program trading at the end of the day stocks are priced off of her earnings. There are lots of nervousness in the market about what will happen next year. We are in a long-term growing economy and eventually we are going to hit a recession. Interest rates are going up. I don’t think you can argue that the increase in December can explain any of this. The market knows that rates are going to be higher next year that means that it is the antifreeze credit which we had during the years. That will change the equation in terms of earnings. That has shifted sentiments. People are more nervous.”