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Frontrunning: August 21
- Now comes that hard part (Value Expectations)
- In new phase of crisis, securities sink banks (WSJ)
- The new dollar carry trade doing miracles for futures, European manufacturing pulls a Philly Fed ...(Bloomberg)
- Just in time for China to pull the plug on all excess manufacturing demand (Bloomberg)
- As even Morgan Stanley sees little hope for fast Euroland recovery (Morgan Stanley)
- While China's 2% inflation estimate baffles economists as prices fall (Bloomberg), with all the free credit going into the stock market, not purchasing products already accounted for in GDP
- And as Stiglitz sees risk to dollar, need for reserve system (Bloomberg)
- Profit at China's second largest lender bank drops on contracting loan margins - sure is fun to be a bank in a planned economy (Bloomberg)
- Confidence in Obama drops to 49% from 60% (Bloomberg)
- Rise of the super rich hits a sobering wall (NYT)
- "The market should be starting to correct, but it's not going to correct because there's no one around to sell" (LA Times)
- "Clunkers" to close August 24 after fueling sales, dealer anger (Bloomberg)
- Morgan Stanley hiring more traders (WSJ)
- Most failing banks are doing it the old school way (NYT)
- Lehman U.K. creditors may not get paid for years after London court ruling (Bloomberg)
- Chrysler workers await news on model cuts, changes (AP)
- Armageddon averted - or was it? (Forbes)
»
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From the LA Times article:
China's renewed stock market selloff this week and crude oil's surprising surge might otherwise have been excellent excuses for a pullback on Wall Street.
Except that it's August, and there might not be enough engaged human investors in the market to care.
"The market should be starting to correct, but it's not going to correct because there's no one around to sell," says Dave Rovelli, head of equity trading at Canaccord Adams in Boston.
Well, there is an inkling of understanding there, maybe the MSM will finally catch up with the fact not only is the market only trading on no volume and propped up by robotraders, using our fucking money.
Nah.
THEY have our money, the robotraders, the algorithms, the MSM, the Fed , the Treasury, the White House, insider information... but wait... I have my MacBook. Yeah, everything's gonna be just fine.
Bernanke Speaks = Dollar Tanks
Do I see a monetary contraction coming along in China assured to create deflation?
No links to the NY Post today? Stop being a little pussy. Oh, and the Upper East Side? EEwwwwwww
$780
Are you fuckin' serious? That's an embarrassment. I would have expected 10 or 20 mill from an offshore account.
You owe your readers an explanation. Stop acting like a little weasel.
It's just amazing how productive TD is.