"There are countless horrible things happening all over the world and horrible people prospering, but we must never allow them to disturb our equanimity or deflect us from our sacred duty to sabotage and annoy them whenever possible." -Auberon Waugh
Wednesday, April 27, 2011
So, how did Fed Chairman make out with his news conference today?
Well, judging by the spike in the prices of gas and gold, and the drop in the value of the dollar, not all that well.
That whole trend is continuing in Asia trading with the dollar getting whacked, WTI over 113 and Brent over 125.
Bernanke also contradicted Obama on oil today. Obama has been blaming speculators but Bernanke indicated it was a supply and damand issue with rising emerging market demand and supply disruptions in North Africa.
WTI solid at 112-113 is scary. This area is a ledge from the previous run. If we continue higher from here it could be a lot higher. May you live in interesting times.
There's nothing that inspires confidence like the Federal goobermint showing that is has a firm hand on it's di.....er, tiller! I mean tiller!
ReplyDeleteReally.
That whole trend is continuing in Asia trading with the dollar getting whacked, WTI over 113 and Brent over 125.
ReplyDeleteBernanke also contradicted Obama on oil today. Obama has been blaming speculators but Bernanke indicated it was a supply and damand issue with rising emerging market demand and supply disruptions in North Africa.
WTI solid at 112-113 is scary. This area is a ledge from the previous run. If we continue higher from here it could be a lot higher. May you live in interesting times.
I've seen videos of ships at sea engaging in similar paint trades.
ReplyDeleteEqually non-triumphant.
That video is the perfect metaphor for Obama's administration (not to mention Congress).
ReplyDeletewv: whemster - the "e" should be an "i", but it also describes government by Obama.