THE MARKET IS SETTING IT SELF UP FOR A BIG FALL IF IT THINKS BERNANKE IS GOING TO PROMISE A 50 BP CUT IN HIS BERLIN SPEECH TODAY...
BERNANKE'S SPEECH IS ON "GLOBAL IMBALANCES" AND THE HYPERLIQUIDITY OF THE FED IS ONE OF THE BIGGEST REASONS THE GLOBAL ECONOMY IS SO UNBALANCED...
IF BERNANKE TELLS IT LIKE IT IS...IN AN ACADEMIC WAY...HIS SPEECH SHOULD BE FILLED WITH GLOOM AN DOOM ABOUT THE STATE OF THE US ECONOMY...
THE TWIN DEFICITS...THE UNFUND WARS...AND SOCIAL SECURITY...THE UNWILLINGNESS TO CONFRONT THE HEALTH CARE AND INSURANCE LOBBIES...
AND THE DE-INDUSTRIALIZATION OF THE AMERICAN ECONOMY...
STRAIGHT HAPPY TALK LIKE BERNANKE GIVES KONGRESS MAY NOT GO OVER WELL IN EUROLAND WHERE REALITY BASED ECONOMICS IS STILL IN VOGUE...
OIL AND GOLD WILL SURELY SOAR TODAY...
AS WILL THE MARKETS IN THE FIRST HALF OF THE DAY...
I DON'T SEE THIS RALLY SURVIVING TO THE END OF THE DAY HOWEVER...EVEN IF THERE IS AN ATTEMPT TO RALLY ON 911 FOR PATRIOTIC PURPOSES...
MORNING RALLY...AFTERNOON DECLINES...SOMETHING FOR EVERYONE...
