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Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of tweeting optimism on the equity markets. He's the Bemo

capital markets. Brian good morning I want to talk about your case to be in the market and not in cash when I see

three quarters of 3.1% GDP growth, real GDP growth,

and the nominal animal spirit numbers

from James Diamond and J.P. Morgan this morning.

What did the gloom crew get wrong about the machine that is the

American economy? I love that the gloom tune. Good morning,

Bloomberg. Good morning, Tom. I would say this. We've had the lowest most boring standard

deviation of growth environment, of GDP and earnings growth since the Great Recession, which was, let me just repeat to everyone that doesn't know, that was a once

and every other generation event.

Every time the market goes down, it doesn't mean it's 2008, 2009.

The negative naysayers continue to believe that markets can't go up unless

interest rates go down. We are in a brand new fundamental cycle one we haven't

seen since the 50s or the 60s or even the beginning of the market bull market in the 1980s

...