Today on Bloomberg News Marc Faber and David Rosenberg of Gluskin Sheff say the economies of the US and Europe are fragile and in poor shape, and for the US they predict massive quantitative easing beginning in September or October this year.

They cite housing sales being at rock bottom - even as interest rates are at such lows - as the main indicator of a no-growth economy. They think positive earnings reports from major corporations are not very meaningful as an economic indicator. They also think Europe will maintain its austere monetary and fiscal policy. Ike