The 1% Stock Market Crash, a week in review
Stock-Markets / Financial Markets 2010 Jan 31, 2010 - 06:12 AM GMTBy: Nadeem_Walayat
The week saw Tory Bliar appear in front of Britain's amateur Iraq War Inquiry to pound his fist on the table for war without end as he justified lying to the country on the reasons for the Iraq War and subsequent 200k+ deaths, from the 45 minute lie, to the WMD lie, right through to regime change lie on top of the Sept 11th excuse for war, despite the fundamental and absolute fact that it was the Saudi's that flew the planes into the twin towers and not Iraqi's!
The reason for the iraq ware were two fold, 1. oil, 2. that Iraq had been systematically disarmed during the preceding 10 years and therefore presented an easy populist election winning victory. The consequences of which was the explosion in the number of terrorist recruits for the formerly dieing Al-Qeeda that has since franchised into a infinite headed hydra. His only regret was that he never got the chance to attack Iran as well.
Gordon Brown's great New Afghan idea this week was to put the Taliban fighters onto the payroll along side British solider's. What's next ? Taliban pensions ? Whilst at the same time urging Pakistan to commit suicide by going all out on the Taliban across the border. Can things get any more crazy ?
On the plus side both major political parties are starting to publically recognise that tackling Britains ballooning budget deficit is critical for long-term prosperity because the financial markets will not tolerate a deficit anywhere near 14% of GDP and will one day, perhaps much sooner than anyone expects, say NO, NO MORE. Therefore it is infinitely better to tackle the deficit before the market forces action on its terms.
Financial Markets Quick Update
Dow 10,067 (10,173) -1%. The impression one had going into and during most of the week from the media-sphere was for that of extreme downward price action which even extended to a number of stock market crash calls. As expected the perma analysts (bear) appeared on the financial broadcast channels, with further strong opinions voiced by journalists deluding themselves that they are experienced market traders or economists for what turned out to be a little changed week in an ongoing significant correction after the massive bull run off of the March 2009 low that targeted 10,500 that very few capitalised upon due to the reasons I voiced way back at the start of April 2009.
Gold $1,081 ($1,093), - 1%. Gold Continues to meander towards $1050.
USD $79.50 (78.3) +1.5%. The dollar bull market swing continues to target USD 84, though actual trend is not particularly strong, i.e. it is taking a LOT of time which is not a sign of strength.
The Inflation Mega-trend Ebook
The analysis and implications for the inflation mega-trend are complete. The transfer / write up for the pdf ebook is underway. Given the ballooning size of the ebook, the download url will have to be emailed out at a rate that will allow recipients to be able to download it, perhaps in the region of 4,000 per day during the week. In the mean time, one of the key implications of the inflation mega-trend will be emailed out tomorrow on the stock market trend for 2010 and beyond.
Subscribers will receive the analysis and the ebook download, if you are not already subscribed then do so now, as it is FREE and the ONLY requirement is a valid email address.
Source :http://www.marketoracle.co.uk/Article16903.html
Your getting distracted by politics analyst.
By Nadeem Walayat
http://www.marketoracle.co.uk
Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.
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Comments
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Jas Singh
31 Jan 10, 15:37 |
Major Indices
Nadeem Are you still forecasting sideways movement for the major indices, with upward bias for the best part of 2010? Best JS |
