Blankfein: There’s ‘Reason to be Optimistic’ About US Economy, Stocks

Monday, 28 Jan 2013 07:59 AM

By Dan Weil

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Goldman Sachs CEO Lloyd Blankfein is bullish on America — the economy and stock market anyway.

Europe looks good too, as the worst-case scenario of a euro collapse has been taken off the table, he tells CNBC. “There’s real room for optimism in Europe, but not as much as in the U.S.”

We have our problems — the congressional budget stalemate and negative sentiment, for example, Blankfein says.

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.

“But with housing stabilizing and probably going back up; the amount of cash on the sideline; the blessing of the energy situation, which none of us anticipated; and low interest rates, I think the U.S. environment is very good.”

The Standard & Poor’s 500 Index has risen 5.4 percent so far this year, as of Friday’s close. And Blankfein sees further gains ahead.

“The market has gone up with people being under-invested,” he says. So once they join the party, that should push stocks upward.

Others also are bullish, with the S&P 500 working on an eight-session streak of gains, its longest in eight years.

“A lot of folks still on the sidelines from 2007 thinking the world is coming to an end” may reconsider, Art Hogan, market strategist at Lazard Capital Markets, tells MarketWatch.

“It’s one of the infrequent times that Wall Street news makes the Main Street media in a positive fashion.”

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.

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