[blam]

[blam]

Traders Speculating (Praying) That Bernanke Will Announce New Stimulus Scheme This Week In Jackson Hole

[onyx]

I watched the over night foreign markets and gold and platinum go neck and neck to $1895 and $1896 respectively.

[Ghost of Philip Marlowe]

As I said after the first major correction a couple of weeks back...I wouldn’t be surprised if it was a controlled fall in order to force people to demand that Obammie the Commie use that new debt ceiling to pump money into the markets via QE3.

Folks, the fundamentals suck. There is no denying it to anyone who is following what is happening.

Another round of “stimu-less” will spike the markets for a very brief time. After that, look out for free-fall, because we’ve reached the wall in terms of borrow-and spend.

Also, protect your private-retirement accounts.

The governments are going to contract their benefits to the public-sector unions, and in some cases default completely. There will be a round of Greece-style austerity and similar violence in reaction.

After that has occurred and the economy still sucks, Obammie and his Commies WILL come after your private retirement. They will nationalize it to save the unions, their pay and pension and benefits, and they will promise you a higher rate of return when you go to cash it out.

DON’T BELIEVE THEM.

[econjack]

I don't get it. QE1 was, perhaps, necessary to save the banks during the financial crisis. QE2 has done nothing to get money back into real investment. Banks have been going to the window, borrowing at the federal funds rate of near zero, taking those funds and buying Treasuries, and are happy with the relatively riskless differential return. QE3?? All it can hope to do is more of QE2 with no discernible effect on real growth. This is a classical Keynesian Liquidity Trap and fiscal policy of personal and corporate tax cuts are needed, not more gov't spending or tax increases. Come on, Obozo, this isn't rocket science.

[WhistlingPastTheGraveyard]

Just the market reacting to Libya as if it means something. We’ll be back in the red tomorrow.

[fso301]

Futures would be gaining based on a belief that Quadaffi is about to go and that Lybian oil will once again flow to European ports.