Wednesday, August 24, 2011

Markets waiting for Santa Claus

Markets Will Look for Hints in Bernanke’s Words“When the Federal Reserve chairman speaks at an annual gathering in Jackson Hole, Wyo., this Friday, markets will be searching for something, anything, that indicates whether more stimulus is on the way.
It was just a year ago, after all, that the economy was in almost exactly the same position: pitifully slow job and output growth, fears about another financial shock from Europe’s debt crisis, warnings of a double-dip recession.” (New York Times)

Comment: Remember that traditionally, before the feast got commercialized, Santa Claus had a knave called Ruprecht who came with big stick.

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