Wall Street Manna

An irreverent look at Wall Street

Monday, June 29, 2009

Cash for clunkers

I've been saying we will have 4% Q3 GDP, and now Barclays is on the record for 2.5% Q3, and 3.5% Q4. Their catalyst is the $1 billion from the clash for clunkers program, that they believe will be expanded four-fold.

My 4% Q3 GDP estimate, of course, will be according to "Government" figures--which means the growth will be overstated but, to show you how liars figure, here's the Barclay's report.


At June 29, 2009 at 9:58 PM , Anonymous X said...

So, the street is jawboning the mkt higher

1. Can GS and others prop markets up. Pushing out a conviction buy every day helps but someone else needs to follow their recommendation?

2. Is the theory that they (GS) can only pay themselves big bonuses (without public outrage) if markets end the year on a nice high?

3. If GS, a few euro banks, and a few central banks want markets up nicely this year, is fighting this battle pointless?

4. Don't most hedge funds also want a strong UP market to make up for high water marks?

So, if its all rigged to the upside .....

At June 29, 2009 at 10:14 PM , Blogger Palmoni said...

Then play the upside!!!!

That's it--but no one believes it.

Otherwise, the conspiracy story dies...


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