The news is really playing up the hurricane coming this way. I am all set though; 10kw Generac generator run on an underground natural gas line; enough SPAM, rice, and bottled water to last a month, and a sense of humor. Seriously, this is not going to be that bad.
The Black Hole in Wyoming
So tomorrow is the day. Ben Bernanke gives his Jackson Hole speech on FED policy. It's the event of the summer and you are all invited. Dress nice folks, this is the big time!
Title of this post was inspired by that atrocious sci-fi movie long ago, "The Black Hole":
Emotions are high and guesses run all over the place. My ideas on what will happen, and their chances are:
1.) Full blown QE 3 for 1 Trillion announced (will begin in October). Markets go full lift off and it will be weeks until anyone looks back. Bernanke is the hamburglar stealing any chance you have at saving anything.
2.) Bernanke uses soft words to say that QE will come, but not right this second as he downgrades economy. Markets protest for Friday, but solid uptrend starts next week.
3.) Bernanke says FED will be on watch, but that the US CONgress should get involved in stimulus and not rely on just the FED. Markets close for Friday afternoon.
Of course it will be some kind of blend of 1 and 2 most likely.
Even after a year of all the green shoots and being welcomed to the recovery, markets need help and another housing hand out is on the way, from Trader Mark:
White House Considering Plan for Country Wide Refinance of Government Backed Mortgages
It's never going to end. It's not. Stop pretending it will.
Classic commercial time:
Have a good night.