I get it people are angry. Very, very angry. Im angry too. And Wall Street sure makes a great scapegoat, hence the Occupy Wall Street protest. Wall Street is a symbol of the greed and corruption that took over America and caused this whole mess. But lets take a minute to examine the facts...
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Monthly Archives: September 2011
Succinct Summation of Weeks Events (9.30.11)
Positives: 1) Only a few more countries left to approve EFSF, moment of truth soon arriving for Greek bondholders past the debt exchange currently being done 2) Greece takes another step in getting next tranche with property tax hike 3) Chicago PMI surprises to upside likely led by … read full news Published: Sat,...
GBP/USD Remains in Flat Consolidation to End Week; 1.5530 Set as Pivotal Support
The GBP/USD held its ground to end this weeks trading after rallying for the first half and flattening during the second half. Fridays price action was about to form a double top, but the support at 1.5530 held again for the third time this week. Note that the RSI in the 1H chart remains...
U.S. Economy Tipping into Recession
Early last week, ECRI notified clients that the U.S. economy is indeed tipping into a new recession. And theres nothing that policy makers can do to head it off. ECRIs recession call isnt based on just one or two leading indexes, but on dozens of specialized leading indexes, including the U.S…. read full news...
Week In Review September 25-30
The week is ending with the pendulum swinging back in favor of risk reduction. The catalysts for the deterioration in risk is as difficult to specify as they were for the risk rally earlier in the week. Despite the toing and froing of austerity ideas and Greek sovereign debt solution suggestions,… read full news...
EUR/USD – End of Week, Month, Quarter and Rally?
Euro dollar is unwinding its gains and returning to the lower range, below yet another support line. Is the correction already over? Strong European inflation didnt cheer the euro, that received quite a few bad figures. The last hours of the week, month and quarter will likely provide more choppy… read full news Published:...
Greece: This cannot end well
Even though global financial markets showed some resilience this week, the tone remains cautious as the underlying problems haven’t changed. “There is no way to avoid pain for Greece,” said Holger Schmieding, chief economist at Berenberg Bank. “The austerity is painful. Further painful structural… read full news Published: Sat, 01 Oct 2011 03:49
SEC Report On Credit Raters Finds Leaks And Conflicts Of Interest
In what is perhaps the biggest face-palm moment of the day, the SEC’s summary report on credit raters found 22 pages worth of supervisory failure and conflicts of interest concerns at each and every one of our NRSROs. However, perhaps the most notable headline, via Bloomberg was potentially much… read full news Published: Sat,...
Asia Currencies Set for Worst Month Since 97
Asian currencies were set for their biggest monthly loss in more than a decade as concern some European nations will struggle to pay their debts and a global slowdown bolstered demand for the relative safety of the dollar. South Koreas won is poised for its worst month since February 2009 and T… read full...
4 Market Signs Signaling a Recession
We at EconMatters expected the QE2 froth to come out of markets once the fed experiment of artificially inflating asset prices was over, and for the most part this is exactly where we are today at the crossroads. Are we going to just trudge along with a slow growth economy until the world finally…...