Europe is awake and showing up at work (for the few not on “Holiday”) – the promised government intervention is pretty obvious, reversing some of what happened in Asia….<\/p>\n
– Gold is going back down, but still up $50\/oz
\n– US Treasury interest rates are still going down, suggesting intervention and\/or “flight to quality”
\n– Oil is still on the way down
\n– the Euro is being kept stable by the ECB (guess) around $1.43
\n– as predicted by analysts, Italy and Spain’s interest rates tumbled – the European Central Bank announced over the weekend it would buy up the worthless debt to absorb the Italy\/Spain problem and make it go away for now – except\u00a0the ECB doesn’t have the ability to buy up all the debt from its reserves – it’s started its own “QE” process of “Let’s print more Euros and hope nobody cares”.\u00a0
\n– Stock indexes are moving back toward neutral – remember I suggested that a default by the US would make the stock market go up, not down.\u00a0\u00a0 (S&P’s rating change is not a default, but in the same spirit).\u00a0\u00a0 The Financial Media – TV in particular – are still stuck in the 1950s, when the world didn’t care about US Markets and we didn’t care about Global Markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Europe is awake and showing up at work (for the few not on “Holiday”) – the promised government intervention is pretty obvious, reversing some of what happened in Asia…. – Gold is going back down, but still up $50\/oz – … Continue reading