A total global growth rate of 2.47% is simply not enough to sustain $3.70 copper and $80 oil… Speculators, fortunately for the commodity pushers, cannot do complex math like that – they just hear the words “China” and “growth” and they begin to foam at the mouth and throw all their dollars at shiny bits of metal and black sticky goo.
This morning our favorite Banksters goosed the EU markets by upping targets on international mining operators Kazakhmys, Lonmin and BHP and that got the European markets off to a flying start out of the gate, despite the fact that UBS had just DOWNgraded the same sector on Friday.
"the system remained at risk because it is subject to future 'judgments' of individual regulators, who [Volcker] said would be relentlessly lobbied by banks and politicians to soften the rules."
