Re: Can't wait for Al's Monday Morning Wakeup
posted on
Mar 16, 2008 05:30PM
Polylabel, couldn't agree with you more ! The US is in for potential ' bloodbath Monday ' as someone else put it.
Feds drop discount rate 25 basis pts this afternoon (yes on a Sunday) and at first, US futures and Asian markets took it well, then BOOM, US futures show DOW down 150 and it's only 7pm MST Sunday. These usually gear up moreseo after European markets get going around 2am MST.
Gold up to $1,050/oz (I think Brian Acker was on BNN.ca couple yrs ago saying his grandchildren would never see $500 or $600 gold).
US dollar getting creamed against Yen down to 97, which in return creamed Nikkei and Topix by over 3% a piece. Against Euro, worst ever $1.58.
And the $2.00/share for BS buyout from JP already discussed, as was the Alitalia buyout at 20% value from Air France.
The American public keeps getting pumelled by the Feds. When their dollar depreciates day after day, and inflation will go ballistic with $150 barrel oil and $1,500 gold, among other things like all time high wheat, etc, their net worth has only one way to go and that is down. Purchasing power depreciates and the cost of living increases. Don't even want to see the open tomorrow. Ciao.