Monday, August 8, 2011
And Now Back To Our Previously Scheduled Program…. Part Three
Last Thursday was ugly. Today was even uglier, and predictable. Tuesday may well be chaotic. The Japanese markets are already down 5%, South Korea’s are down 9-1/2%. Chinese inflation numbers have come out at 6-1/2%, much hotter than the expected rate of 4-1/2%. Euro zone futures are already down nearly 2/3 of Monday’s total loss. US markets may not have time to wait for the FED’s Open Market Committee before reacting. Helicopter Ben may be forced to release some absurd statement by 7:00 AM in order to try and stem the tide of panic. QE3 to infinity and beyond! Will it work? I have my doubts, but putting the printing presses into hyper drive is the only card he has left in his hand. Got physical?