Ain't it great! Nailed it yesterday! Markets flopped, about, Beijing had it's big parade and Mario let it be known that he and his team were ready to engage in another "whatever it takes" exercise. As to where the ECB will stand vis-s-vis the Fed, we will probably know more tomorrow when the job numbers come in. If there is to be a big hint, remember what Stanley dropped about the economy having almost reached full employment last week. If the unemployed number falls below 5.2% I'll start eating my words as It appears that that will trigger a rise. Now, let's keep in mind that in the real world that will mean that the economy will have employed just about exactly the same number of people it had in 2008 with an increase in the population since then of some 30,000,000+. That should not be a reason to ask, "What the hell is going on here?" or point to out that wages have gone no where as an indication that this economy is not quite as robust as some might think. Stan is the smartest guy in the room; I'm not going to argue, but it does give me the sense that something else is going on that I don't understand. To be honest there is probably quite a lot of that.
Anyway, College football starts tonight and pales everything else in it's path. T & S and I will have out Tacos ready with perhaps an adult beverage on hand to watch the Utes take on the Skunk Bears with their brand new coach. Big deal in the fly-over zone. Football, the corn coming in and the soy beans looking great makes for a happy populace. Who cares who's working anyway.
Reporting early tomorrow.
No comments:
Post a Comment