Seeking Alpha

European shares are broadly higher, boosted by hopes that the U.S. will raise its debt ceiling...

European shares are broadly higher, boosted by hopes that the U.S. will raise its debt ceiling after the GOP last week proposed a three-month extension of federal borrowing authority. EU Stoxx 50 +0.3%, London +0.6%, Paris flat, Frankfurt +0.4%, Milan -0.1%, Madrid +0.2%.
Comments (2)
  • thechaser
    , contributor
    Comments (456) | Send Message
    the capitulation to the whitewash is complete; ride it to 1570, slight 'pullback', maybe to a whole 1460; the setup to ride this into the stratosphere is near and here;


    global central bank liquidity will eventually slosh out of the bucket like so much sulfuric acid and accomplish the intended result of controlled debt devaluation


    there are no political forces of any sort to say alchemy does not exist; commodity producers got duped enough (look at the global mining disaster ridden market for example) so the catch-up on reality as reflected in global currency devaluation will not arrive until 2014, so party like its 1999


    the ill effects of financial repression will begin to really show in the financials of global pension and insurance funds by mid next year, so i believe this will be difficult to sweep under the rug by 2016, thus clearly establishing a case for calamity but until then, I would say global stock markets will soar by at least another 15-20% which is to say Europe is pronounced fixed (DAX- 9000) and the SnP500 will breach 1630 this year and maybe push 1700 by year end.
    21 Jan 2013, 04:37 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
    European stocks may be "broadly higher" and I realize professional writers have to write about something, but there is no chance the stock markets of an entire continent are broadly higher because of a hint of a deal that solves a deal that was solved three weeks ago and besides, doesn't need to be solved because we have no problem...


    How about "European stocks are broadly higher in the wake of the Royal Wedding and now that the funeral of Diana is fading from memory."
    21 Jan 2013, 07:22 AM Reply Like
DJIA (DIA) S&P 500 (SPY)