Are we not completely sick of this stuff yet?
Talk about stress tests, how about this swine flu pandemic. Its bad enough when the economically challenged are stressed by this great recession, now its a life or death health challenge. Hopefully the attention is more hype and fear and less actual threat to the masses. People do die from the flu, even the regular flu, and according to my medical establishment operatives, people who have compromised immune systems are at great risk. So, stay healthy, and if you are not healthy, work to become more healthy. I know, easier said than done, but still, try.
Back to the market - At some point this rally has to end. With all kinds of earnings and economic data coming out this week, the idea will once again be trying to interpret the bad news as not as bad as we thought news.
I'm thinking we will have at least one rally day, possibly more, but maybe not...
Reuters: Stocks face banks, Fed, earnings
...investors will deal with a raft of economic indicators this week. The data menu includes February home prices, April consumer confidence, weekly jobless claims and an advance report on first-quarter real Gross Domestic Product.
The advance reading of first-quarter GDP is expected to show the pace of economic contraction slowed to a 5 percent annual rate from 6.3 percent in the fourth quarter, according to a Reuters poll of 69 economists.
3 comments:
The focus on how well the banks are doing is obsessive. The more they try and inspire confidence in these bankrupt zombies the more of their own credibility they fritter away. Let them fail, isn't this what all the rest of us are subjected to as a stress test? The more they chew on this the more it's starting to play as a unfunny version of "Weekend @ Bernies."
My understanding is its all about the internal credit market. The banks lend money and corporate America whistles away. I have no idea which banks are scamming and should simply be put down.
I wouldn't believe a word any of them say. The only thing they've shown any competence at is lying and lying and lying. These pricks are all about themselves and protecting their fancy jobs and bonuses etc. They care nothing about the country or the economy or any of it. How long are all of us willing to accept their lies is the real ??
Post a Comment