"Meta" means "beyond" - and what's going on today transcends "markets".
But probably only in a stupid meaningless way.
Yeah, Josh Brown and Ritholtz are all gloating about their "earnings recession" call and this is the first day of it and oh boy things would have been different if Mittens won.
But this is just people repositioning after an election was determined. See this article at Bespoke - this always happens after an election.
Plus someone was saying this morning (no link sorry - probably Sarkar) that Germany's finally fallen into contraction, as noted by Draghi. Ooh, let's sell everything then! - not so fast; like I said, the minute the crushing effect of austerian contraction hits German big business, Merkel will change her tune and suddenly support stimulus. Especially because she's up for re-election in Sep 2013. That is bullish.
China's still in the process of selecting their new leadership. Once the new leadership is in place they can start fixing their economy. That is also bullish.
See, Brown and Ritholtz suffer the stupid American delusion that their country is the only one that exists. That's why they won't make money.
And by the way, there have already been a lot of very good editorials on the US election, mostly referring to how the Rethuglicunts have to change their strategy cos they'll never win an election with only 7% of the black vote and 30% of the hispanic vote; but here's the best editorial on the US election, from der Spargel.
Here's an excerpt:
The United States Army is developing a weapon that can reach -- and destroy -- any location on Earth within an hour. At the same time, power lines held up by wooden poles dangle over the streets of Brooklyn, Queens and New Jersey. Hurricane Sandy ripped them apart there and in communities across the East Coast last week, and many places remain without electricity. That's America, where high-tech options are available only to the elite, and the rest live under conditions comparable to a those of a developing nation. No country has produced more Nobel Prize winners, yet in New York City hospitals had to be evacuated during the storm because their emergency generators didn't work properly.Freaky - you mean Germans bury their hydro lines? That costs like 3x as much as going aerial, easily. Oh well.
Anyone who sees this as a contradiction has failed to grasp the fact that America is a country of total capitalism. Its functionaries have no need of public hospitals or of a reliable power supply to private homes. The elite have their own infrastructure. Total capitalism, however, has left American society in ruins and crippled the government. America's fate is not just an accident produced by the system. It is a consequence of that system.
And here's another bitch-slap for you:
We want to believe that Obama failed because of the conservatives inside his own country. Indeed, the fanatics that Mitt Romney depends on have jettisoned everything that distinguishes the West: science and logic, reason and moderation, even simple decency. They hate homosexuals, the weak and the state. They oppress women and persecute immigrants. Their moralizing about abortion doesn't even spare the victims of rape. They are the Taliban of the West.Seriously. The vote wasn't between a Republican and a Democrat: it was between an unthreatening no-policy moderate and the fucking Jesus Taliban.
Anyway, here's one more article for you: JC Parets is amazed that the gold miners are no longer sucking™. Again, significant. Um, for me anyway.