Source:
China’s New ‘Great Wall’ Built on Easy Money, Speculation and Toxic Debt
Yahoo Tech Ticker
http://finance.yahoo.com/tech-ticker/article/291000/China’s-New-’Great-Wall’-Built-on-Easy-Money-Speculation-and-Toxic-Debt
The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements. —Jesse Livermore
The US$ is at the high of the day vs the euro coincident with Greek CDS at the wides of the morning by 20 bps to 307 bps following the news this morning. This level is a 2 week high. In sympathy, CDS is wider in Spain, Portugal, Italy and Ireland. Bond yields are higher too and Greek stocks in particular closed down 3.4%. There is also an idiotic rumor out there that the Fed is again going to raise the discount rate after doing so a month ago. While they easily may but likely won't anytime soon, there is...
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July 29th, 2009 at 8:10 am
[...] called ‘innovation.’ – Lynn ParramoreIs Goldman frontrunning via high frequency trading?China’s New ‘Great Wall’ Built on Easy Money, Speculation and Toxic Debt – Barry Ritholt…Good video.Financial Armageddon: ‘Difficult to Recall a Greater Example of Wishful Thinking [...]
July 29th, 2009 at 3:49 pm
[...] Excerpt from: China's New 'Great Wall' Built on Easy Money, Speculation and … [...]