The Dow rose 140 points yesterday. Our guess: Speculators are betting on the Fed’s announcement later this month. In light of bad employment numbers, they reckon the Fed is unlikely to begin seriously tapering off from its credit-pumping adventure. They’re probably right. The Fed has already gone too far. The economy depends on its ZIRP and QE.
The “Mize-Well Factor”
These Three Major Markets Have Turned
There are a few yellow leaves on the trees. The mornings are cool.
“My son started school last week,” we told a neighbor yesterday.
“What? Seems awful early for public school.”
“They’ve been moving it forward. Back in the old days the kids helped on the farm with the harvest. School didn’t start around here until about the seventh or eighth of September. And we got to go back two weeks later because we lived on a farm.
In Praise of America’s Political Perverts
We’re back in the US after a delightful summer in Europe. Americans get much less wound up by important matters than they do by trivial ones. Barely had we stepped off the plane when we were struck by the latest trifling national emergency.
The War on the Young
Another slow day on Wall Street. Stocks up a little. Gold down a little. A hot summer day. Ain’t nuthin’…
End of the Gold Correction?
Once again, a lazy day on Wall Street. Dow down a little. Gold up a little. And bonds? It looks…
The End of the World As We Know It
Not much in the markets today to draw our attention. Other than another pronouncement by the Fed that it will remain “highly accommodative” for the so-called “foreseeable future.”
Then whither our thoughts? How about to the end of the world as we know it? This from The Wall Street Journal:
