There’s a good reason the sound is off on my tv the channel is tuned to CNBC during the day. While I find the daily debates painful to listen to, along with countless “professionals” who are always certain of the future but never held responsible, you will hear opinions quoted as fact that are just flat out wrong. Sure, there may be a pile of money on the sidelines but that pile has been growing for a few years and didn’t stop the debacle of 2008.
Here’s a gem of a quote:
“There’s a large amount of money on sidelines waiting for investment opportunities; this should be felt in market when ‘cheerful sentiment is more firmly intrenched.’ Economists point out that banks and insurance companies ‘never before had so much money lying idle.'”– Wall Street Journal, August 28, 1930