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Monday, November 24, 2008


We are in a holiday shortened trading week which is ncie because we have one less day to go down.
But things are looking up this morning as we are adding to gains from Friday's late reversal. And we have crude up and a firm energy complex with stronger equity and Nigerian explosions or something. And the government has rescued Citigroup over the weekend which seems to be viewed with a positive least for now.

No corporate news and no upgrades or downgrades so far this morning. We are certainly entitled to a big rally in MLPS and when that rally comes is anyone's guess. We'll probably see some catch up this morning from Friday's late turn. We'll see if it holds.


Anonymous said...

The immediate gratification side of my brain is happy with the Citi bailout. The same short term side of my brain is happy with President Elect Franklin Delano Obama's plan to stimulate the economy with 2.5MM new public service jobs... and to not raise taxes.

But at the risk of raining on his inauguration parade, who's going to pay for all this? The Chinese?


Unknown said...

Fear will pay for it.

Paulson's bailouts of AIG, WM, LEH, etc that have destroyed shareholders and bondholders have created a situation where investors have withdrawn from any asset not Gov. guaranteed.

Now we're dealing with the knock-on effects of the Sept., Oct., and Nov spending colapse by companies and consumers.

We're in Kaynes's Saving paradox trap.

Everyone comes to the individual conclusion that it's best to save more, rather than spend, causing the economy to contract, reducing the nation's ability to spend or save.

Josef said...

Lee, its simple, we'll just print more money. The presses will be working overtime.

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