Tuesday Outlook: Commodities, Emerging Markets 15 comments
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This market is pretty spooky that’s for sure. Let’s face it, the much anticipated rescue for FRE and FNM came to pass and investors scoffed at it. There are lines of people at many banks wanting to withdraw funds. That’s not supposed to happen in this modern financial system, but it is nonetheless. None of this is good.
Bernanke testifies Tuesday and no doubt he’d like to bring by the shirt collar, the architect, former Chairman and “maestro” Alan Greenspan, with him. But, he’ll just have to be as creative as possible.
Also we get producer prices [please ignore the bogus “core rate”], retail sales [watch for a spike caused by inflated energy and other prices] and there are some interesting government bond auctions taking place as well. Want some?
I’ve been cynical and sarcastic about conditions as readers know, but that’s the way things are.
Have a pleasant day.
Disclaimer: Among other issues the ETF Digest maintains long or short positions in SPY, SDS, MZZ, TWM, IWM, QQQQ, QLD, XLY, SCC, XLI, XLB, SMN, SIJ, IYR, SRS, GLD, DBG, DBA, DAG, EFA, EFU, EEM, EEV, EWZ, RSX, FXI and FXP.
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This article has 15 comments:
Then watch what happens to the dollar.
The distortions are amplified by illiterate reporters on a major TV financial daily spectacle ,who actually belief to be economists and repeat economic nonsense irrelevant to the market reality .
When the DOW was at 14,000 this program literally had a party instead of focusing on the real fundamentals .Now that the issues have surfaced ,but are being addressed competently by the FED , this very same program is distorting the facts and the program's reporters continue to belief that they are competent economists.
In the period ahead we will see the stock market rally as the investors will comprehend the degree and importance of the FED's actions in relation to the financial institutions.I admitt that few additional rate cuts would be helpfull as demand pull inflation(the real threat )is not an issue.
Bunker Hunt ?was accused of trying to squeeze the silver market during the period of a rampant inflation(17%).COMEX had imposed 100% margin on the silver futures -the metal imploded bringing relief to all of the concerned (including the FED).
The real issue in the period ahead will be Europe and Emerging Market economies facing high rates and shortly economic decompression.The resulting economic chaos will force global investors into the dollar denominated assets .The stock market will rally if for the wrong reasons .Volatility may continue for a bit longer.
With oil at 140 suburbanites cannot afford to protest even if they want to. Unless there is another stimulus check on the way.
ftalphaville.ft.com/bl.../
Congress has more power than the president. Congress has done nothing to prevent any of this. The problems with energy and social security have been known for decades. They have done nothing and continue to do nothing.
They all need to be removed and we start over. Never vote for an incumbent no matter what party they are in.
We need fresh minds and people willing to work more than two days a week.
The people who blame Schumer for IndyMac are so freakin' clueless it boggles any mind with an IQ over v1.5. If anything, he saved some depositors their butts. Go to the FDIC's IndyMac FAQs and get an education on what happens during a takeover rather than sale...you fill out forms for even properly titled accounts if your combined balance is over $100k. If you have brokered IndyMac CDs, the interest stopped the day of the takeover but you're not going to get your $ back for a bit....that's lost interest and no access to your funds. And now the FDIC has FROZEN all foreclosures at IndyMac and is pledging to rework mortgage terms to the best possible for its borrowers BEFORE it sells what's left of the institution. Well what about the DEPOSITORS who were over their FDIC insured limits and who are supposed to collect as much of those proceeds as possible from the sale of IndyMac assets? Think giving gifts to the BORROWERS on their dime is righteous? IndyMac was the FDIC & the Bush Brown Shirts exercising what amounts to financial eminent domain over a bank to further their own agenda. It's a disgrace. Schumer is akin to an honest stock analyst who says to look out. The OTC and FDIC are prohibited from foreshadowing any of their actions, so you'll never hear it from them. Blame Schumer? Pathetic.
That also makes you wonder about how well the FDIC's pending "aggressive" readjustment of mortgage terms will proceed. If the IndyMac assets / loans are bad, perhaps the FDIC will only prove true the rumors that not many are actually salvageable. They might be shooting their foot while it's still in their mouth....but only time will tell.
Wake up. The problem is the crooks are running the pen. Where did Paulsen work before the Treasury? Bernanke before the Fed? Let's see, could it be, no...., sorry, yes! They worked for the exact companies that pulled this crap and then got short-sell protection yesterday.
The only key to any of this is a) be an exect that gets the bonuses from the scams or b) understand the rigged game and avoid getting caught in it.
American Success Formula: Forget morals and ethics, embrace greed and corruption.