Competitive currency devaluations heating up, Gold going nuts, stocks dropping 2% a day, corporate profits are locked up in company vaults, QE3 being tossed around even though 1 and 2 didn't solve anything.. Are we heading into the big one? What's going to save us?
WWIII. But they won't do it until they've showed to the people that they've exhausted all the options and nothing worked. People aren't going to go to war just like that. They need --- a compelling reason to do so!
Doubtful. Market needs to reflect current conditions and Bernanke has targeted the stock mkt. for two years, by propping the indexes up, a waste of resources and a mistake. But US has become a comedy of gov't errors anyway. The silver lining is maybe oil and commodities will drop with stocks and undo some of the damage. I won't hold my breath.
If we go under 10k, then it may be time to ask that question. Until then, this looks like a pretty normal pullback.
The markets are yelling for QE3 and as soon as the markets speak BUBBLE ben bernanke obeys and throws the market more QE3, so if tomorrows jobs number misses the mark and the markets fall apart again I think by next week BUBBLE ben bernanke will have something in order to rally the markets!
Italy's 10 year going north of 6.5% is considered to bring about Gozer. Current yield: 6.19% and rising.
Larry Kudlow tweets: Sources tell me Italy has to restructure bonds.Deposit run on Italian banks.EU will have to mount Tarp rescue.Big stress on interbank loans.