Wednesday, April 21, 2010

Update 4/21

The ETF's are doing good for the most part, though the VNM seems a tad more sickly than do the other three; IDX really seems ready to roar. Again all of these have four cent stop losses. I'm still keeping an eye on the copper market.. still stuck in the $3.50ish range; though slowly but surely coming down. I'll be a seller in the $3.35 range.

Greece is (again) nearing the end; they are in effect unable to borrow money. Greece's government is between a rock and a hard place; on one hand the demands of the IMF austerity plan; on the other is the response of the common Greek citizen. My honest guess is that at some point, as unemployment skyrockets and tax hikes begin to bite, the Greek government's popularity will plummet and their Prime Minister will begin to understand that his best option lies in default. After all, the thinking goes, how much worse could it really get ? At some point, perhaps later this year or next year, a "negotiated default" is likely the end game.

Goldman Sachs (finally) was sued by the SEC.. given the timing of it, this is a political move by the Obama Administration; it's their way to kick off their drive for financial reform on the Dodd Bill. Whadda pile of sh!t that bill is.. 1300 pages of backroom deals written by lawyers and banksters. Sen. Blanche Lincoln, a member of the Agriculture Committee, has written the only piece of legislation with any meaning.. a bill to essentially end all Credit Default Swaps. Rest assured that the lawyers and banksters robbing us blind will never let this one see the light of day. Slowly but surely, the people are returning to serfdom; politicians and banksters, arm in arm, swearing loudly and blaming each other, are the only beneficiaries. Such are the seeds of revolution.

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