Oh, so now Obama may not bend, may not keep his mouth shut. Our oh-so-intelligent president can now go hard-line because of a New York Times poll that shows he is doing a better job than the Republicans. You know what that means: no real jobs bill other than to protect municipal, state and teachers unions; pro-coal Cap and Trade; and encouraging unionization at WMT and the banks through aggressive Card Check.
Huge push for the Volcker Rule to break up GS and JPM. And, no doubt, another push into health care, maybe with something even more aggressive than before. Total emboldening of the anti-401(k) agenda.
Gee, that's nice. Way to lift everyone's spirits. Way to get our economy moving again.
Especially on top of China's reversal and hard landing on tap and the breakdown of the Grecian formula.
The post-Scott Brown move is dead and the permission slip for the rally has been revoked.
Gold down, oil down, dollar up. Usual suspects.
Throw in the horrendous guidance from now institutional favorite IR and something that will no doubt be bad about the rebalance of the S&P off of Berkshire's addition and we have the makings of a nasty one.
2010. Crummy year marches on. Oh, and needless to say, this nullifies the AAPL advance for certain because it is all intertwined. Ha! Right!
Maybe all will be forgiven because Europe, of all places, is up.....