There will be no fiscal discipline or monetary discipline in the US until the market demands it. That is not going to happen under the US dollar being a reserve currency. Only when the dollar loses that reserve status and you have a currency crisis will you start getting religion on balancing budgets and monetary restraint. This is all a show. S&P is a bunch of clowns. Anybody expecting austerity or rate hikes any time this year are dreaming. Dreaming. The US will test the market's limits until there is a crisis.
Expecting midday weakness today, we may test the low 1290s once today but it should hold.
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3 comments:
When does .02 = $22,000,000,000?
Google missed earnings by 2 cents. It has lost 22 BILLION in market cap! And going lower..
game = don't be last one holding bag.
GOOG looks like a good long term value, I am a believer in their enterprise, but short term trading has little do with underlying fundamentals. I don't have the patience to go long stocks like GOOG and wait for institutions to reembrace it.
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