Who’s Your Daddy?
Who’s Your Daddy?
Peter Boockvar, Miller Tabak
After the Citi news, it’s perfectly clear if you’re a bank but it’s been obvious though for a while now, Paulson and Bernanke and Geithner will share custody of the problem children soon. In reality, it’s the taxpayer and based on the action in gold today and in the past 3 trading days and with the $ index at a one week low, the limits of what’s being done may be tested.
A bounce in commodities though will go a long way in helping emerging markets and that’s where the world’s growth has been. Also helping to the lift the futures in the AM is the report of the big size of an Obama stimulus package that will not include tax hikes. The UK is close to unveiling a plan as is the EU. Nov German IFO business confidence # was 3 pts less than expected at the lowest level since Feb ‘93. Existing Home Sales are out at 10am.
November 24th, 2008 at 10:13 am
For emerging markets, it’s dollar devaluation versus demand destruction; and my bet (eev) is on demand destruction winning the day. Though apparently not this day.
November 24th, 2008 at 12:23 pm
I just want to spout off. Here and now. Not on my local talk radio. Bring all them down , na.
What gets me about all this stuff going on, this industry that TBP revolves around, the business and industry of money float and growth.
It’s nearly impossible to pin “Theft” on anyone. But hard working folks are being mugged and its all cool – thats this business for ya.
Money Managers are going to walk to the bank with wealth in accounts and real assets. The Money Technicians are probably both rich and broke with all this themselves.
The Banking Industry is a “must help or Else”. The Auto Industry rescue “you should learn to live on your own accord”. Common folk pensions are expendable for the sake of Capitalism purity. And I’m nearly sure, Socialisms govenment worker pensions will remain whole.