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White House Set to Nominate Yellen Officially Tomorrow
Normally this would be big news. The "other matter" has us living in "Sound Bite Heaven". So it's hard to focus on much else. And totally OT, I'm beginning more and more to appreciate why the word "propaganda" has such negative connotations. Justly deserved IMHO. Rather than conveying substance, the message has become the substance. Oh ... Ho-Hum ... Back to the MLB playoffs.
Reply to @Old_Joe: What a world we live in where we effectively cheer (or are at least pleased) by the election of the person who pushed for NIRP a couple of years ago and who admitted that: “I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened." because she is a more appealing choice (I suppose) than some of the others (Geithner, Summers).
This would move the market more if it wasn't heavily hinted at when Summers stepped out of the running and if the government wasn't a broken-down mess. As for that, I think if 10/17 is the deadline, we don't have until 10/17 because the market is going to act like we will default BEFORE 10/17 if we start getting closer to it. People aren't going to wait until 10/17, the market may do what it's going to do if there's no progress in the next couple of days. In other words, I think if we get a "very last minute" solution, the market will have already acted in advance of that. I can't believe we are at this point, that we have a government who will not act like adults and sit down and at least try to discuss issues (and I direct that to both sides.)
Yum Brands missing #'s yesterday, Costco missing today, Alcoa beats. Hopefully earnings will go better than they have of the first day of announcements....
Comments
This would move the market more if it wasn't heavily hinted at when Summers stepped out of the running and if the government wasn't a broken-down mess. As for that, I think if 10/17 is the deadline, we don't have until 10/17 because the market is going to act like we will default BEFORE 10/17 if we start getting closer to it. People aren't going to wait until 10/17, the market may do what it's going to do if there's no progress in the next couple of days. In other words, I think if we get a "very last minute" solution, the market will have already acted in advance of that. I can't believe we are at this point, that we have a government who will not act like adults and sit down and at least try to discuss issues (and I direct that to both sides.)
Yum Brands missing #'s yesterday, Costco missing today, Alcoa beats. Hopefully earnings will go better than they have of the first day of announcements....
Hey, you got the Yellen news right!