Gersh:" you might want to cover..."
...from what I can tell, Gersh - there were three catalysts for this bullish move:
(1) the banking reform bill, which represents a fundamental change; and,
(2) the reversal of kapital flows from money market funds into stock funds, on the perceived "buying op" of DOW10K; and,
(3) no mo' mo in CL99Z - CrudeOil prices, which has been perhaps the most prominent cause of USD current account and TYX bondz decay effects since QTR-1.
personally, I'd like to see the U.S. political leadership address our "employment crunch" and inflationary pressure on wages via an enlightened approach to immigration - We have an opportunity to "cream off" skilled labour from the EU and Japan, for example... But, in this election year, Republicans are talking about 'America First' isolationism, and the Democrats are talking about increasing the minimum wage, which is tantamount to printing money for labour bloc patronage.
Even worse is this political conversation, looming prospect of de facto socialization of pharmas, which would in all probability have a chilling effect on our nascent bio/genetics industry.
Finally, I'd like to see the Fed manage "asset bubbles" by making specific adjustments in margin or mortgage rates, for example, rather than or, in concert with broad-based increases in the cost of kapital.
offa da soap-box (^_^)
-Steve |
