Seeking Alpha

JPMorgan is downgrading its stance on commodities in general to Underweight. The firm believes...

JPMorgan is downgrading its stance on commodities in general to Underweight. The firm believes the Supercommittee's failure to reach a deal represents a blow to "confidence in the U.S.' seriousness of purpose," and thus raises the risk of another credit rating cut. Moreover, JPMorgan is worried about a rapidly deteriorating environment for industrial metal and crop prices. (yesterday)
Comments (8)
  • Native Texan
    , contributor
    Comments (-724) | Send Message
    JPM is right. We're a joke.


    We have a spending problem, not a revenue problem and the only spending that Democrats are willing to cut is defense. Until they're willing to make cuts which will greatly affect their constituencies, in order to reduce SPENDING, nothing will change. GOP not agree to raising revenue by raising taxes in order to sustain the unsustainable entitle programs, as-is.
    23 Nov 2011, 09:08 AM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
    That is because JPM is buying....they want it on the cheap...
    23 Nov 2011, 09:20 AM Reply Like
  • Windsun33
    , contributor
    Comments (4391) | Send Message
    It was just a few months ago that JPM said that most commodities were "undervalued" - just before many of the commodity stocks dropped 10-25%.


    This might be a buy signal, given their past track record.
    23 Nov 2011, 09:32 AM Reply Like
  • spald_fr
    , contributor
    Comments (2809) | Send Message
    There is nothing wrong in this country that higher taxes on the middle class and cuts in spending can't cure.
    23 Nov 2011, 09:24 AM Reply Like
  • Caladesi Kid
    , contributor
    Comments (186) | Send Message
    Politics aside, higher taxes directly reduce economic performance. There is a long, proven history that clearly demonstrates this point. Anyone....anyone that thinks higher taxes will somehow improve our economic condition is ignoring facts and showing a political agenda.
    23 Nov 2011, 09:27 AM Reply Like
  • Dave Faulkmore
    , contributor
    Comments (84) | Send Message
    ss, medicaid, military. Cut all three (when broke, stop your bitching). End the fed (they bleed debt). Increase taxes on the rich (just for kicks), close lily pads (foreign soil military bases). End current wars. Cut the DOE. Fire 80% of the cops and cancel their pensions. Fck them. Make gov't unionization illegal. Limit gov't jobs to 5 years max, only 1 position, no pensions (kills bureaucracy corruption).


    Sure there are more ways to decrease abuse by banks and deal with corruption.


    Then step back and watch the action.


    old and sick really fcked, military downsized (huge increase in unemployed military guys). But the debt would go down quickly. parasites would have to start get a job and start contributing to society.


    With the military neutered Black swam oil shock?? Watch out.


    With no FED, EU tanks. No surprise there. And not US's problem! And without the FED, EU can't siphon money off of us.
    23 Nov 2011, 09:52 AM Reply Like
  • Dave Faulkmore
    , contributor
    Comments (84) | Send Message
    Disclosure long physical edible PMs. I'd actually prefer the US hard defaults instead of getting it's debt issue resolved. So take what i wrote as a piece of humor cuz we know all fiat currencies eventually fails. That's the whole point of fiat currencies. Theft.
    23 Nov 2011, 09:55 AM Reply Like
  • mcostigane
    , contributor
    Comments (44) | Send Message
    This JPM desperation is just too hilarious. JPM wants to see a lot of selling in gold and silver as the number of contracts poised to stand for physical delivery is more than they/comex have in their possession.
    23 Nov 2011, 09:56 AM Reply Like
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