Dec 10-14 '12 Eco Calendrudge: Molto Economindo's FOMC/MTG/CPI/PPI M-O-U-S-E
Don't look now but the Pres of Italy Mario Monte is leaving the scene, putting all those "policies" designed to qualify it for fiscal relief up for grabs Greek style, which strengthens our dollar, and provides buzzkill for futures on this no economic news day. Oblamer and Boner are busy making believe they are working for a fiscal cliff deal for the benefit of the unwashed and uninformed. neither can deliver the goods, because our Congress with its whopping 9% approval rating, is out to lunch physically as well as mentally.
Where do you think Congress is? Dodging responsibility while both sides think each has a mandate to gridlock the govt., while we who invest in this dollar destruction dependent market pay the difference. Futures are in the toilet, and I wouldn't be long in this market if you gave it to me with ten foot Pole.
Besides, the Pole would quit after making economic related protestations to support some financial bailout, then bailout himself, the dollar would soar, the market would crumble.
Long what exactly? If you bail on SLW or any other equity, you have to hold dollars and that, too, is a dicey situation. Frankly, I think SLW is much safer than dollars, not as good as metal in hand, mind you, but safer than dollars in any case.
I say that because of the growing likelihood that the SCO will roll out a proportionally gold backed currency, as much as 40% some say, and were that to happen, dollars, along with all other fiat, becomes immediately passe.