OldLimey

Preview from Europe: Markets Still Seeking Direction

Mr. Mole, Sir: "While this should be further food for thought for the mandarins of the ECB in Frankfurt, they will no doubt ignore the fresh warning signs of economic collapse and opt for the pointless pause in the rate cutting, talking voodoo-liquidity trap nonsense when we face a possible deflationary spiral."

Your posts are pithy, witty, and informative. I read them every day. But is there any chance you could stop the daily drip of anti-ECB propaganda? You're writing from a country that is bankrupt and stays afloat for no other reason than the fact it is a member of the eurozone. The ECB is still (just about) clinging to a semblance of prudence while other central banks trip over each other going down a path which Japan has spent the last two decades proving does not work. What the BoE, Fed, and now the RBA are doing has little to do with the Keynesianism you seem so attached to; they are trying to reflate the Hindenburg and take us back to 2006. They will fail, of course, but it would be nice if at least one major currency came out of the fiasco worth something against hard assets.

Four Oil Giants to Keep an Eye on - Barron's

Crude Oil Trader: "With Exxon being such a large percentage of the DOW it is likely to drag the whole index down Friday."

Well possible, but the Q4 GDP figure might throw a wrench in the scenario. Consensus expectations seem to be edging down on an almost daily basis, so it's now quite possible that a horrendous 'minus four point something' will be greeted with euphoria as an 'upside miss' (only to be adjusted down next month, of course).

A Positive Outlook on the Markets with Obama's New Appointments

"Geithner does know the markets and the economy intimately."

Just dozing last year, then, was he?