Sell spx 1103, stop 1153, lim 680
Buy spx 1160, stop 1127,
Oil – set stop
I am not selling my gold because in the long run, the
Federal Reserve will print money. As soon as markets in the world are down
another 10-20%, as soon as asset prices go down and the economy is weak,
everybody will applaud the Federal Reserve if they print money
If we define a bubble as excessive credit growth and
artificially low interest rate, then China
has had a gigantic bubble. Now, will it collapse or will it just slow down,
that is a different issue but some sectors of the economy will collapse.
I am for the first time in 12 years applauding the Federal
Reserve. They did the right thing but the stock market reacted on the downside
because there was not a QE3 type of announcement
The Greeks cannot pay, but lots of people in the U.S.
can’t pay either; most banks worldwide are bankrupt. The world is cold. There
is not a lot of inflationary pressure on consumer goods but energy prices are
up, food prices are up. With zero interest rate, you know what will happen to
your insurance premiums? They will go up dramatically.
CHINA
hey’re doing their best to cool things off...I expect them to continue to do
it, and that is causing more slowdown around the world.
Agriculture prices are getting banged right now. I am kind
of planning on buying Swiss francs, more dollars and agriculture
"We are going to have another lost decade. We are
making enormous mistakes running the US
economy
http://www.gizmag.com/neutrinos-faster-than-light/19933/
Nouriel
Roubini : The risks ahead are not just of a mild double-dip recession,
but of a severe contraction that could turn into Great Depression II,
especially if the eurozone crisis becomes disorderly and leads to a global
financial meltdown. Wrong-headed policies during the first Great Depression led
to trade and currency wars, disorderly debt defaults, deflation, rising income
and wealth inequality, poverty, desperation, and social and political instability
that eventually led to the rise of authoritarian regimes and World War II. The
best way to avoid the risk of repeating such a sequence is bold and aggressive
global policy action now
http://tradermind.files.wordpress.com/2011/09/brief_eco_newsletter_2011239_1.pdf
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