Archive - Aug 12, 2010 - Blog entry

madhedgefundtrader's picture

Wheat prices have doubled in six weeks. Domestic grain traders, seeing nothing but rows of corn, wheat, and soybeans at home as far as they eye could see, were caught totally flat footed. This crop disaster was totally foreign in its origin. Trouble with the canola crop in Canada rippled from Australia, Western China, the Ukraine, and then to Russia, big time. Time to take profits. As any farmer will tell you, pigs get slaughtered.

Phoenix Capital Research's picture

Today, most pundits are growing increasingly concerned that we are headed for a “double dip” recession. I think this view is idiotic as the US “recovery” was in fact nothing more than a small bounce in economy activity within the context of a DEPRESSION.

Let’s be honest here. The money printing and Stimulus DIDN’T work last time. All it did was buy time. Indeed, from an economic perspective, the only thing the Feds can claim with any certainty is that the Stimulus produced a bunch of economic data points that were questionable in authenticity (GDP, inflation, employment, etc) many of which have since been revised lower (GDP again).

Pivotfarm's picture

Markets in a Flash

· The USD is starting to look stronger today. Against the JPY it is pulling back some of its losses.

· The EUR/JPY appears to be pushing to new monthly lows today. It is trading around the 110.000 level.

· US equity futures are lower today suggesting the selloff will continue when the markets open.