Thursday Outlook: Commodities, Emerging Markets

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There will be a lot of finger-pointing regarding who’s to blame for higher fuel prices but the culprits are the people in the mirror and weak pandering political leaders.

Greenspan says, while in “legacy rehab”, that we’re in a recession. Volcker says, referring to our financial/credit mess, we have “…the mother of all crises”. And, per the recently Fed minutes released they’re worried about weak economic growth and rising inflation data or stagflation. Mrs. Bernanke must shop.

Newsletter writer Richard Russell reverses course and states that we’re still in the primary bull market from the 1980s. He must have forgotten that hiccup from 2000-2003.

In the meantime crummy earnings are trickling in [BBBY disappointed big time which shows Chucky’s sour mood and weak capacity] and stock indexes, while dropping, remain relatively tranquil “for now” and in a dreaded trading range. Let’s see what happens.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains long or short positions in UDN, USO and SLX.

Comments

[unohu]

or put another way:
" When the tide goes out all the ships go down.:

[PCScipio]

Great overview, as usual. thanks.