Monday 1 Oct: Attack of the QE Proponent Fed Chairman
Three Fed Chairman meet publicly first thing Monday morning to boost easing as a way of kick starting our economy, easing all the way out to another round 2013, well into 2014. Evans, Williams and Bernookie.
This is a direct contravention of non voting putz Philly Fed Cheese Plotzfurgle's "oh yeah? QE is the chitz, and your little dog too" diatribe that sent the markets into the crapper for days--and the beginning of 4th Quarter and reporting of third quarter results--an attempt to manipulate anybody south of good news now, good news later in those corporate reports. Trying to ween those manipulative bastids away from good news now, but we expect the economy to tank next year to lower expectations so they can sit on their hands and collect stock options may be a futile gesture, but, the gestures I am thinking about are futile and not very satisfying anyway.
Well invest in KY futures, your $100K salary is going to buy $50 K worth of stuff in five, not 12 years as the dollar has been declining at 6% a year since 1971--figure $3000 gold and $100 silver in 60 months.
And figure there is so much on the plate next week, technicals are going to matter, simply because functionals are so immensely info packed, you want to look at what the market does, rather than what any particular data bit is.--with a look over the shoulder at what is going on why.