They keep pretending that the underlying problems aren’t there.
Warren Buffet drops 5 billion on BOA and all of a sudden the bad loans are gone.
It cracks me up.
Monday they say consumer confidence is up in July (School supplies) so the markets rally.
Today they say consumer confidence in Aug plunged, but there is no reciprocal in the market.
The wallstreet guys are still floating the idea that there will be a Fed stimulus.
It’s just been bad news bad news bad news.
I don’t see any relief on the horizon.
That's my opinion too. We'll see something in six weeks or less...gold will shoot up to $2k or more an ounce and the market will rally higher.
Food prices will continue climbing.
Energy prices may stay the same or go lower on less demand, but, not higher.
Relief will come in November, 2012. Until then it will be more of the same.