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Monday, October 27, 2014

Cam Hui's weekend market update


Hum Blestuden Tofthemar Kets - weekend update. Credit where credit is due, he admits he may have missed a bottom call, and figures out why in excruciating detail. Very good read, explains why the market did go down, explains why it was silly to worry.

Nothing wrong with a market commentator who not only admits when he was wrong, but then is motivated to do significant research to arrive at a new understanding.

As far as Merkel and Draghi are concerned, yes it seems Draghi spent a good deal of time explaining to Merkel how she is an asshole for thinking monetary policy can accomplish anything when fiscal policy does nothing but get in the way and sabotage his best efforts.

And yes, it seems Merkel made some friendly cooing noises to the press, probably because Draghi told her he's fed the hell up with being shat on by ignorant blockhead politicians.

But when the rubber hits the road, I wouldn't expect more than a cupcake from Merkel on the topic of fiscal expansion. Whenever a German gives you something out of the microscopic kindness of their own robotic heart, you should always expect it will be profoundly unsatisfying.


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