They Seem Confident
At 7:35 am this morning I saw this headline over at Yahoo Finance and I knew I had to capture it for later in the day:
They seemed confident of a Wall Street up day! Why not? It is Monday after all.
I figured this would happen so I sent the link home; here is the address I copied:
When I punch it in now this is what I get:
US housing data weigh on world markets
Interesting, yes? I love this kind of stuff.
Way short on time so here is the obligatory linkfest. Use the comments to give me a writing idea, I need inspiration!
Illusion of Prosperity highlights a nice article titled:
America's AAA Rating Is Cut in Land of Bubbles: William Pesek
Well worth a look!
Econbrowser struggles with how the FED can fight deflation and seems to come up a bit short on new ideas:
Clusterstock opens a can of worms with this post:
An Economic Recovery With High Unemployment Isn't So Crazy If Laid-Off Workers Weren't Producing Anything To Start With
Look out! Instant flame-a-thon sure to ensue. Still, worth a few minutes of reflection as there is merit to this line of thinking.
Zero Hedge item with great title:
McKinsey Study Confirms Sellside Analysts Are Conflicted, Slow, Biased And Generally Stupid
Stuff the people here would already be aware of, but still:
In what will come as a surprise to precisely nobody, a new study by McKinsey has confirmed that sellside analysts were "typically overoptimistic, slow to revise their forecasts to reflect new economic conditions, and prone to making increasingly inaccurate forecasts when economic growth declined."Indeed.
Stoneleigh of The Automatic Earth has another wonderful essay up that relates to what can happen to trade given deflation and credit collapse:
The Rise and Fall of Trade
Over at the Keg boards a member used this quote from "Bladerunner" and it has been sticking with me all day long:
"I've seen things you people wouldn't believe. Attacked ships on fire off the shoulder of Orion. I watched c-beams ... glitter in the dark near Tanhauser Gate. All those ... moments will be lost ... in time, like tears ... in rain. Time ... to die."
Little did I know the Tanhauser Gate was used in other films as well. Learn something new every day.
Have a good night.