I have no time but wanted to chime in on today's events. I did my job to stimulate the economy in buying a faucet, range, and microwave. Tomorrow I have to locate a sink, flooring, and a range hood. What else can I do?
Puzzled
Cementing my "everyone is confused" line of thought as of late were the FED words, market reaction, and sudden admission of reality exploding all over the place. Here is my quick rundown.
The FED
"We did everything we could, then plenty we really cannot, and then some more. Things came back from the abyss, but what do you want from us? Ask the Congress for more cash already! We stand ready to change our minds in the future about this, but we will not tell you the how, why or when of that because we have no idea. That book from college never really made clear what "excess capacity" was dammit!"
The Markets
"Here we are after goosing this pig of a stock market way higher and the FED still will not throw us the bone we want: A set target for the DOW at 16,000; the S&P at 1800 and the Nasdaq back at 5000, which when you consider Apple, is where it rightfully belongs! They don't care (sniffle, sniffle)! They don't understand (wimper, wimper)! We need help now! Let's dump this market and let Bennie and the boys rethink our relationship on the whole bond sale thing. Oh yeah, those algos work both ways Ivory tower boys!"
The Commentary
We are told we are in a V- shaped recovery and that things are better than green shoots, there is grass growing all over the place. If that is so, why this headline:
Bernanke's Lack of Urgency Gives Stocks a Chill
Urgency for what? IF all IS well THEN why would he be urgent about anything?
For a year I have had "rate of change getting less bad" bullshit up to my ears. If that's so hot, wait and things will get even better by that logic.
It's a mess out there.
Fear not. Bernanke knows full well it is far better to "surprise" than pre-anounce. They will be doing some things soon, but why use that ammo today? The table is being set as I had wanted it to be, all that is left for my evil plan is a solid downdraft in stocks and metals with a scary unemployment surprise number on top and it will be position time.
Don't disappoint me Boom Boom!
Have a good night.
My Friday night music pick is "I'm Alright" (Theme From 'Caddyshack') by Kenny Loggins.
ReplyDeleteReally good piece. Very amusing.
ReplyDeleteOn another subject though, damn people are pathetic.
This piece from patrick,
http://www.bbc.co.uk/news/business-10637116?source=patrick.net
>He had been working as a strategy adviser for an alternative medicine company
Should have spent a little more time working on his own strategy.
Well if anyone is reading....
ReplyDeleteI got way sidetracked trying to find a sink tonight so no post! menatl health day off from work tomorrow so I will do a "real" post as well as rhe friday night show. Sorry to any readers, I know so much is going on but I am stuck!
This could be coming to a paper or website near you:
ReplyDeletehttp://timiacono.com/index.php/2010/07/22/august-fed-policy-statement-leaked/
GYSC
ReplyDeleteAre you going to post before and after photos of the kitchen?
Would you consider playing Sammy Hagar's 'There's Only One Way To Rock'?
http://tinyurl.com/caqy4x
He's with Van Halen on the above link, hope that's copacetic.
Wt,
ReplyDeleteman anything you want I will do, you know that!
If I can keep my meager hovel anon, then yes before and after pics will be up!
MUST COPY!!!!!!!!
ReplyDeleteTAE full primer guide:
http://theautomaticearth.blogspot.com/2010/07/july-22-2010-big-picture-according-to.html