What is unfolding in the US reminds me of... 1. How soros made his money betting against the Bank of England 2. The fellow in market wizards who went long lumber when they imposed the price limits... They keep trying to prop this thing up....not only do the interventions not work, but each one seems to have an increasingly limited effect. The 126 spy level is the line in the sand imho, when it is tested again I don't think it will hold... thoughts?
Asparagus with Poached Eggs & Shaved Parmesan 2 pounds asparagus, cut into 5- to 6-inch lengths (use the thicker stem ones) Coarse salt, sea salt, or fleur de sel 1 tablespoon extra-virgin olive oil Freshly ground black pepper 4 large eggs 1 cup (lightly packed) parsley leaves, chopped 1 small piece of parmesan cheese, room temperature Snap off the tough ends of the asparagus; cook in boiling salted water until just crisp-tender, approximately 4 to 5 minutes for thick stalks. Remove from heat, drain, and toss with olive oil and salt and pepper to taste. Divide asparagus among 4 dinner plates and keep warm. Bring about 1 1/2 inches of water to a simmer in a 12-inch skillet or sauté pan over medium heat. One at a time, break each egg onto a saucer or into small cups or bowls. Slip eggs carefully into simmering water by lowering the lip of each egg-cup 1/2-inch below the surface of the water. Let the eggs flow out. Immediately cover with a lid and turn off the heat. Set a timer for exactly three minutes for medium-firm yolks. Adjust the time up or down for runnier or firmer yolks. Cook 3 to 5 minutes, depending on firmness desired. Lift each perfectly poached egg from the water with a slotted spoon, but hold it over the skillet briefly to let any water clinging to the egg drain off. Place a warm poached egg on top of each asparagus portion; dab with a paper towel to soak up any visible water. Sprinkle with salt, pepper, and parsley. Pull a cheese planer or use a vegetable peeler across the top of the piece of parmesan cheese to produce wide shavings. Arrange several shavings around each plate. Serve immediately. Makes 4 servings. Optional: Shave a few slices of truffle over the egg with a truffle slicer or a vegetable peeler. The warmth of the egg will release the wonderful aroma of the truffle. For a more truffle aroma, add a few drops of truffle oil to the presentation.
every rate cut since august has resulted in either the market tanking the same day or within a week.This is not rocket science dont know why the experts ignore this fact. This is gonna be ugly....The fed has very little left in their toolbox to fix the markets now-can only lower125 more basis pts. Interest rate cuts are doing shit for this market.Rates cant help the market.Only thing it does is raise oil prices as it decimates the dollar.What a vicious circle....This govt is so clueless is crazy.Instead of isolating the problem to financial markets they are fueling massive increases in energy/food costs so everybody gets whacked...
interesting that even the commodites are getting smoked the last couple of sessions. not going to call a bottom in these but there is probably a good buying opp. coming up...the inflation part of this mess has not really begun yet... as for the stock indicies, there is muchos downside to come...
While it is true the fed has little left in the toolbox you still have to ask where are people going to put their money? It's not going to be real estate, bonds, or foreign investments. They are not going to get any returns in cd's or money markets. It has to be the US stock market. Barring a terrorist event, things couldn't get much worse in terms of news. If we are not at a bottom, we probably are damn close.
people will put there money in hard assets...oil gold wheat as things really start to get going...i dare say there will be a panic to get into these things eventually. i think the news could get a whole lot worse...there are still a lot of investment banks that are going to get smoked, still student loans, credit cards...there is a lot of cleaning out to be done and the intervention is simply slowing the process...eventually the option will be major recession or hyperinflation...hopefully they will choose the former
Well I have been on ths planet for 58 years. The average Joe is not going to invest his money in commodities. It's real estate, bonds, stocks, or cd's. As long as we have full employment our economy will be fine. It won't be easy because the fed has screwed with the natural business cycle. There is no question we are, and will pay a heavy price for that, but the bottom line is until at least 6% of the workforce is out of work there is little chance of a recession.