12 March 2014

SP 500 and NDX Futures Daily Charts - Ship of Fools

Not much in the way of news, unless you want to count the crisis in the Ukraine.

It is easy to be puzzled by the news of the world. The US president met with his fellow from the Ukraine today, the new prime ministers. You would think that the US is upholding a democratically elected government against the proposed referendum in the Crimea, and not a government put into power by a violent coup d'état, the kind which if it had occurred in the US would have been met by significant force. This is not to say that the government in the Ukraine had been a good one. It is just that the means by which it was displaced make some of the things which we are hearing seem a bit-- hollow.

Oh well, things are so cloudy these days.  The mainstream media is throwing a lot of chum into troubled waters.

The rest of the economic news is a bit thin. Not much on the plate for the US this week, except perhaps a little towards the week's end. Next week we get to hear from the FOMC, and most likely from their new leader Janet Yellen. The hearings for confirmation of Stanley Fisher at Fed vice-chair approach.

The news from China seems troubled, with all sorts of bubble talk, and dire forecasts of a collapse. Bill Ackerman has finally persuaded someone in the government to investigate Herbalife.  Huzzah!

But corporate earnings are done for now, and the recovery slogs on, with Morgan Stanley declaring that semi-stagnation and misery are the new normal, so you may as well get used to it.  Things could be a lot worse.   Think about the next Presidential election and what choices might be offered.   That is a likely appetite suppressant.

I see where it can now be a crime to attend a peaceful protest in Victoria, Australia. 

At some point, I think the ruling class  for the English speaking peoples might need to get a bigger boat.

Have a pleasant evening.