Sunday, January 4, 2015
Some Sunday reading
We have to get back to micromanaging markets, what with the US Santa rally stumbling and gold and the miners supposedly nearing takeoff. So, let's get back to the news:
New Deal Demoncrat - weekly indicators. The US is still fine, and the EU is still in a depression. As Krugman notes, this was the great double-blind study that proved Keynesian stimulus successful and austerian sadomonetarism a dismal failure.
Brett Steenbarger - making sense of a weak start to the new year. The past few days have seen massive program selling. He thinks we've seen the peak for this past market thrust. I'd reply that maybe this is a calendar-specific, rotation-oriented drop, possibly exacerbated by oil market turmoil: then again, I could be wrong, and Steenbarger seems smarter than me.
CNBC - Rosie on the permabears in the lunatic fringe. People congratulated Dave on switching to bullish when the evidence could no longer be ignored; I, however, think he's still an idiot for not realizing that the permabears he's talking about (who he used to hang out with) are mostly Russian KGB-funded propagandists who are paid to sow FUD among Pooty-poot's enemies. So even now, Rosie is right for the wrong reason, and that's not a good person to listen to.