Monday, May 10, 2010

Do you think there will be any Congressional Inquiries into today's panic buying?

Of course not. We only get worked up when the computers crash the market, but when they drive it up 5-9% in a day, well, that's just the marketplace in action.

This reminds me of our market's reaction to TARP as the US futures are screaming higher right now.

In my opinion, Europe has attempted to solve their credit card debt problem by taking out a massive 3rd mortgage. It looks good on paper and it certainly bails out the banks in Germany and France, but ultimately, you've just pumped the system full of liquidity without addressing the underlying problems. This can work for only so long.

Cheers!

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