Happy 6th Birthday Bull Market!

On March 9th of 2009 the clouds lifted and suddenly the storm was over for US equity markets. After hitting a low below 7000, The DJIA turned tail and, suffice a few hick ups, we've been running with the bulls every since. All good things must come to an end but I've gone on record here on the Smalltime Blog saying that the macro business cycle hit a low in 2008-2009, a low marked by the second longest manufacturing contraction since 1948. What I see is a world where everything is old and needs replaced and I see corporations flush with cash. The impending rise in interest rates is going to drive projects from blueprint to reality because any large construction project will cost more at higher rates, so I expect and am already seeing in my locale, a boom in commercial construction. If oil is to stay low, it is only a tailwind for US businesses and consumers.