NEW YORK (Real Money) -- Remember, their weakness is not our weakness. And their strength is not our strength.
We can be thrilled about the one-two punch of lower Chinese rates and more Mario Draghi promises. But until we see the gigantic infrastructure jobs in the decrepit sewers and polluted wastelands that engulf China, until we see the Germans spend $500 billion, just be careful.
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We are the strong ones. We have a Federal Reserve that gets it. You know now how Pop felt about these things. You know where my feelings are.
I just don't want anyone to get too excited and take Cummins (CMI) and Caterpillar (CAT) up any more than they are. If you believe in a turn in Europe and China, go buy GM (GM) ; it's done nothing. It isn't as horrid as you think.
As long as Hoover in a pantsuit runs Germany, Draghi will be checkmated. Only a radical right regime, which could spring up, can change her mind. Her intransigence is almost evil in its nature.
I will hope for an Eagles win.
But not for a Joy Global (JOYG) order.