ONE ASSHOLE PUNDIT OPINED THAT A RATE CUT WOULD BE GOOD FOR THE DOLLAR...!
AND A 50 BP RATE CUT WOULD BE EVEN BETTER...!
THE THEORY, I SUPPOSE, IS THAT THE ECONOMY WILL BE SO GOOD THAT INVESTORS WILL FLOCK BACK TO THE DOLLAR... I DON'T MIND THIS TYPE OF STUPIDITY...BUT THERE IS ALWAYS A DANGER THAT SOMEONE WILL BELIEVE IT... INDEED, THE STREET SEEMS TO HAVE CONVINCED ITSELF THAT THE LOOTING CAN GO ON FOREVER...AS LONG AS THE FED KEEPS PRINTING MONEY...
IT'S ALL OK NO MATTER HOW MUCH MONEY THE FED PRINTS...
IT'S GETTING A BIT UNREAL ON THE STREET... WITH OIL AT RECORD HIGHS AND THE DOLLAR AT RECORD LOWS...THE STREET IS RALLYING...ALBEIT ON LOW VOLUME...
IT'S REALLY JUST AN INSIDERS GAME NOW... THERE IS NO REALITY LEFT TO THE MARKET...
IN FACT, I'D SAY THE STREET AND IRAQ...ARE RUNNING ABOUT THE SAME...
WISHFUL THINKING IS TRUMPING REALITY...BIG TIME.
