Interesting comments by two knowledgeable guys. They are referring to an op-ed by the Fed’s Warsh where he says that the Fed may have to act aggressively to mop up the liquidity they’ve added over the last 1-2 years.
Today was an interesting morning. The bear’s case got a boost with $RIMM news, durable goods, and housing starts, but the bulls have been fighting trying to keep the momentum alive. My view, is that sentiment got too bearish too quickly, which is somewhat bullish.
I like how @Contrahour humorously puts all this inane recovery-shape calling to rest with the “&-shaped recovery”.
There seems to be a great deal of mixed signals being thrown off by the markets today. The next break will be quite telling.
Debt is optimism. The ability for the money supply to expand rests on both the confidence of the lender AND the borrower. Demand for credit is very important for a reflation to occur and consumer sentiment is of paramount importance to that.
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