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Gary Tanashian is proprietor of and Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' ( Complimentary analysis and commentary is available at the... More
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  • Bananas! 0 comments
    Oct 23, 2009 11:40 AM | about stocks: UUP

    One of the perks of having thrown my hat into the ring of financial commentary, and website publishing of others' commentary is that I have received 'review' samples from authors I respect; people like James Kunstler and Michael Panzner. I have not yet read Panzner's When Giants Fall, but look forward to finding the time as this gentleman, for years attempting to wake up the populace at large, is someone to be listened to when he presents 'An economic Road Map For the End of the American Era'.

    Today however, I would like to highlight one post of his called Declining Empire, Banana Republic, or Failed State? The reason has not so much to do with Mr. Panzner's introduction as it does the media content he highlights. There is an awful lot of talk about Bananas going on in a media that is all too aware of the declining dollar as we pathetically cling to a devaluation of our currency and our future, for short term hope and greed.

    The dollar, which we will look at in detail this weekend in NFTRH, lost our 'big picture' support at 78-80, our 'not overly compelling' short term support at 76 and now heads lower... with the major media on the job. There is final support below and wise people should beware the potential dangers in being on the same side of the boat as the mainstream media. Just like in the fear and loathing days of late 2008/early 2009 with the MSM leading the charge.

    Stocks: UUP
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