This morning's chart is for soybeans. Up 37 cents just today!
Wednesday, August 8, 2012
I learned yesterday that the Fed has now initiated a new money-printing scheme to pump an additional $600 billion into the financial markets, especially stocks, via repurchase agreements and the too-big-to-fail banks. No wonder reality and news have parted company with stocks. News, data, and reality are irrelevant. We have printed prosperity now!
Monday, August 6, 2012
This is a slow news week. It appears that since there is little news, most of which has been negative in recent months, the market will continue its melt-up. There is no acknowledgment of reality in these markets any more because central bankers have eliminated all perception of risk or reality. When that occurs, asset bubbles are a certainty. The Dow is up 75 so far today.