It seemed as though everyone with functioning financial sensibilities was aware of and understood the many factors driving up gold. Everyone, that is, except America’s top financial expert: Bernanke Puzzled by Gold Rally Federal Reserve Chairman Ben Bernanke says he’s a bit puzzled by surging gold prices. The 30% rally from a year ago, on [...]
Matt Taibbi’s latest piece in Rolling Stone is about how Wall Street’s “flooded the Capitol with more than 2,000 paid lobbyists” to fight the Restoring American Financial Stability Act — which even veteran Congress members seem to recognize as a new level for the “intensity of the blitz.” Lobbying on behalf the regular folk are [...]
Well, the fans are getting their money’s worth. After staggering through the last four or five rounds, the Dow suddenly came back to life yesterday. It got up off the mat. Straightened its shorts. Did a little dance. And then wham… By the time the bell sounded, it was up 284 points. Gold ended the [...]
There is a price for cheap ‘Friends’. That cost is starting to play out in many different ways in 2010 and beyond. Nothing is free. Someone pays. Jon Markman posted an interesting message on Stocktwits tonight ( I will continue to cut and paste…forever): Incredible how cheap money is in the world, ex-Greece. US junk [...]
Yesterday, on G+3, Goldman Sachs remained the top financial news story. The initial shock may have subsided, but the ensuing awe is just beginning to unfold… When you Google “Goldman Sachs Fraud,” you get 10,200,000 responses, which is only 5,000,000 responses fewer than you get when Google just plain old “Goldman Sachs.” In other words, [...]
It’s party time on Wall Street. YOUR problem is that Wall Streeters just booked their sweet gains in the form of bonuses and you are chasing momentum. The market is thick with breakouts and the price momentum is beautiful. There is no reason for 99 percent of investors to fight the tape. BUT, you don’t [...]
In yesterday’s confirmation hearing for his second four-year term as Federal Reserve chairman, Ben Bernanke received a thorough tongue-lashing from Senator Jim Bunning (R-KY). Here are a few highlights from the transcript as well as the video… * “…you put the printing presses into overdrive to fund the government’s spending and hand out cheap money [...]
Major indices managed to end the session in positive territory as energy related stocks helped to offset the weak outlook from retail giants. Stocks opened lower but managed to end the session marginally higher. As the interest rates are at historical low, cheap money is been put into risky assets, driving up the prices of [...]
