An irreverent look at Wall Street
yes, buy now.stocks are cheap.Employment is rebounding, home prices are recovering, bank balance sheets are strengthening, foreclosures are waning, M3 is expanding, the European debt crisis is abating, Alt-As are done resetting, the deficit is under control, the States are flush with cash, the Gulf waters are pristine...What could possibly go wrong?
"yes, buy now"his portrayal of current conditions are accurate--and with Obama pimping an unemployment report that just sucked--doesn't that affect confidence? That's what today's market looks like--another giant screw job.that being said--most people don't want to get b*tch slapped again after yesterday--so in their frustration and the ineptitude of the Prez they sellthe unemployment report was just really sh*ttyand one of my themes is that the Govt could keep things together--despite the poor prognosis of the economy--but with a cheerleader like Obama that says a good employment report is just 40,000 jobs--well that sure makes everyone question the competence of the folks in charge--and look at the Central banks and their interventions in the currency market--now no-one even gives a rat's *ss about their intervention threatsso I'm not doing anything here...If we have a gap down Monday, I'll buy for a trade, because I think most of the stuff yes, buy now says are now getting priced in..but you have to give the bears their due today
Can't believe Obama put his reputation on the line for pimping the jobs report a few days back. He lost all creditability by now... I mean hell if you couldn't fake the #'s to make it look good then we are in trouble, hah. It is obvious that the currency markets are moving the equities markets and with the EU debt problems... it just means currency debasement is inevitable. Took a look at our states balance sheets... it's gonna be a race to the bottom for all currencies. Well at least gold is up!
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