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Again the paradox:
The $ rallies on the "strong" job report tomorrow. But the EUR correlation suggests that a stronger dollar will cause stocks to sell off.
Reply to thyself:
in other news, i was just watching the feed from Skandi ROV1 at the spill, and they lifted something and the exiting plume seemed to just get more intense.
The BP jerk-off continues unabated.
The oil leak will not get fixed any time soon. Why? Things just are not fucked up enough. We need to have a full blown crisis with people running out of buildings waiving their arms in the air and screaming. After that happens, then the oil leak will get fixed.
I think it hasn't been fixed because it can't be fixed. We always assume we can fix problems, and if they aren't fixed its becuase 'they' aren't trying hard enough. But sooner or later we're going to hit problems that we just can't fix. Maybe this is one of them - relief well in August is the best bet. Appropriate thing would have been for BP to have drilled the relief well BEFORE they started pumping, which is in fact required in some jurisdictions, but of course they lobbied to have that requirement removed by US regulators. This was completely avoidable, but now may not be fixable any time soon.
The other issue working against us is that the president has already used the oil spill as a rallying cry for round 2 of cap and trade talks. Strike while the iron is hot... In the end, cap and trade will be far more damaging than the oil spill from the gulf... but then again, he wouldn't have been elected if we weren't prone to cutting off our nose to spite our face. In short, there is political incentive to prolong stopping the leak.
Further, the worse the leak gets, the higher the likelihood the US of A will get some good ol' oil infrastructure added to its books. As a strategic measure, I would think having some government owned oil wells on huge deep sea deposits close to our shores would be a no brainer. And, although a drop in the bucket, it might help reduce our requirements on foreign oil... (which is what will have to happen before we can pull out of the middle east). We've done far worse in our short history...
I'm not sure whether it can be fixed... at best it's incredibly difficult and requires ingenuity and foresight probably lacking at BP... but, either way, there are counter incentives to stopping the spill...
PS, this is complete spitballing and I realize it would seem strange for BP to usher in cap and trade, which would increase BP's costs... but again, in this case, a single actor can fuck an entire industry... and we operate with less than perfect information...
I see an inverted "V" on the Dow, just now
poet and don't know it.
But your feet show it...they're Longfellows.
What is this "inverse style", comes in the kamasutra of finances?
Is like the "Double Kangaroo Sloppy Pocky"?
I've got 1.2189 $/Eur
So...who is going to step in and do the intervention this time? ECB? Fed?
We should know soon.
Are they building in some sort of buffer? The market is still considerably higher than where the EUR was at this level yesterday. Do the lack of volume yesterday indicate that the market is due for a fast fall to catch up?
No, it's just greed playing out on the JPM and GS prop desks. They're playing with "house money" and are getting punchdrunk on their power to drive the market higher through blocks of SPY.
Most likely the Erozone ECB. Sounds like nobody is using Ben's currency fluids swapping facility.
Ben just put in the first bids. He told the broker to nibble on the dips.
wow that was quick
dropped below 1.22 lets see if the 1.22 pump kicks on...
Come on Ben hit that easy button again! No whammies, no whammies, no whammies... Ah shit. Wha Wha Whaaaa
we'll see what happens at 1.2175...see if it was just a ploy for some swiss torture.
Have no fear for the Lolercopter will be dropping off Timmah and Big Ben any moment.
Trichet's days are numbered and his fall will bring the D-mark back.
I estimate the bank write offs from the Spanish housing and building sectors alone to top 40BN EUR a year the next tree years, under the new rules from the government. Should they do an american style stress test they would need Timmay and his team to hide the 200 BN EUR hole as is. The banks are directly and indirectly sitting on 2,5 m built or unfinished houses. Wonder how Portugal looks and France is probably not much better?
Decoupling was one of the biggest lies told by the paid advisors.
Anybody know hoe to get my hands on that think tank report? Thanks
Just heard that Ben can't get to the trading screen right now, his tie is stuck in the printing press.
He uses FXPro on his Blackberry.
Is today Flash Crash Thursday? I would like to order a Flash Crash with a side of Oh Shit sauce.
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