Some looks at the Dow’s trading channels range for a slow holiday Friday:
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chart by David L. Singer at SINGER$MARKET
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Q: Why do Economists provide estimates of inflation to the nearest tenth of a percent? A: To prove they have a sense of humour.
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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November 27th, 2009 at 12:33 pm
Ritholtz,
let us know what you think of the close- you had some concern if we went through/threw some key fundamental resistence- tells us your thoughts
November 27th, 2009 at 1:50 pm
I came up with this today. It explains a lot when you think about it. It is almost a worldwide phenomenon.
We are told we have a capitalistic economy and that is what is failing us but that is just not true. The structure and basis for the world economy is debt. Therefore, we have a debtism economy and that is what is failing us.
The next time someone goes off on a rant about how capitalism isn’t working you can set them straight. This isn’t capitalism, it is debtism.