I don't know what it is about economists (Rosenberg is not the only one) that they just can't seem to grasp the most obvious stuff. For example, take this paragraph:

"Last year’s lesson was on how to handle market swings. It is very tempting to look back at the past year and conclude that it was a great year for the markets because the S&P 500 rallied 13 per cent from January to December, but that is about as relevant as the fact that by the end of August, the S&P 500 was off 14 per cent from a nearby peak and the TSX was down 6 per cent."

Mr. Rosenberg - let me introduce you to the concept of a market correction...

And one more thing - the stock market and the economy are two different things.