"The more power a government has the more it can act arbitrarily according to the whims and desires of the elite, and the more it will make war on others and murder its foreign and domestic subjects. Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, to justify the beginning of murder en masse."
R. J. Rummel, Mass Murder and Genocide, 1994
The US equity markets have bounced back to key resistance on a much great than expected drawdown in oil inventories.
The trade today seems very technical (ie short squeeze by the 100 million dollar men) and lacking in conviction.
Let's see how the markets deal with this and then trade accordingly. Volumes remain light, and may do so until September. However, if anything 'happens' this market may flop as convincingly as Obama's "change" platform.
"...market is ahead of reality...worry about things particularly going into Ramadan on the 22nd (of August)...there are things gathering around here (the NYSE) that are kind of esoteric, but we could perhaps see historic trading over the next eight weeks...potentially a very exciting period." Art Cashin, 18 Aug 2009
Larry Summers, Tim Geithner, and Ben Bernanke have managed, once again, to place the economy on the edge of a chasm by pandering to Wall Street, which has a narcissistic short-term obsession with stuffing its pockets at any risk or cost, while the corporate media distracts the public with an outrageous parade of disinformation, delusion, and distraction.
The world markets are entering a period of high risk and volatility. No one knows for certain what will come. Professional traders are preparing for it by managing their risks. We are as well.
If you suspected that fraud, corruption, incompetence, and coverups at the highest levels are at the heart of our current financial crisis, you're right.
"...ideology enabled criminality and political failure led to economic crisis as Wall Street bought Capitol Hill..."
