Yesterdays irresponsible action on the part of the Fed is now in the hands of the market. What makes Ben think that what has happened to interest rates in Spain, Italy, and Greece after their irresponsible actions cannot happen here? …Continue Reading →
Ever since the dollar bottomed in April 2011 the Fed has been relentless in pursuing a policy that tries to destroy the dollar. In the 17 months since April 2011 the Fed has pushed the long bond up 32 percent,…Continue Reading →
The US stock markets are again back to saying that Ben has to do QE3 or the markets will crash. Will Ben give in again to the cry babies ? Tomorrow we will find out. What we do know is…Continue Reading →
The Fed meeting coming up this week is one of two important issues for the week the other is the German legal issue. One good thing about the election is that there seems to be a growing realization that Fed…Continue Reading →
In my opinion the extreme low levels of the various volatility gauges witnessed yesterday attest to the markets desire to believe in utopia and to erase all fear as the market walks into a macro trap. This attraction is towards…Continue Reading →
Bill Clinton said it so well last night, we may not need to say anything more between now and the election. If you are in the markets and did not see it, here is the link: http://www.marketwatch.com/story/text-of-bill-clintons-convention-speech-2012-09-05
An article today written by Robert Kuttner in Seeking Alpha says it better than my off the cuff remarks of yesterday. http://seekingalpha.com/article/842961-what-bernanke-couldn-t-quite-say?source=email_the_daily_dispatch&ifp=0 As Kuttner says, it was the popular press that interpreted the message in the way that they wanted…Continue Reading →
is the difference between what he wants to do and what he can do. We waited all summer to hear if he had come to his senses. Sadly he has not. His years of research have shown him how to…Continue Reading →