7-11 Jan Economic Calendar: 1st Rule of Fight Club Meets Real Economy
Silver up 1/2%PM for absolutely no reason whatsoever. Earnings start this evening with AA, that albatross around the market's neck. Unless auto sales start to reflect the aluminum content, the market will flounder. Already the next new thing seems to be steel reinforced carbon fiber, dropping in cost 60%. Like Gilda Radner wrote "There's always something".
It's far from around the corner however.
An article I read perversely notes higher taxes has accompanied steller market growth almost as a mantra, except for key years in Bernankie;s favorite Depression. The article cites people look "harder" for money making investments. No, they just throw money at the market hoping it sticks, and if in enough quantities, it's self fulfilling.
The article ignores paper currency devaluation masquerading as "growth", and the fledgling corporations protecting profit by investing in the only cash cow in the real world, deductable salaried employees.
Our payroll tax is deductible? Obamacare a deduction? Some.