Based on the current political fight over increasing the debt ceiling and on the heels of my previous comments, I thought I would append below a response I sent to a client on this very topic.
“What is clear is that rating agencies always change something after it is obvious to everyone else. That’s why we never relied on them.” ~Dallas Fed President Richard Fisher
In a bit of a change today, I am going to append below some longer thoughts on the financial markets. I have been saving these for separate entries, but for fear of getting stale, I will give you
some afternoon snacks as we head to the close. Stay tuned!
Strategic Petroleum Reserve
Here are a few statistics that should lead you to believe that the releasing of the supposed emergency stockpiles of the Strategic Petroleum Reserve (SPR) is rubbish. The last time we release
reserves was in 2005 after the Katrina …
The sell-off continue overnight abroad on fears the European sovereign debt crisis would spill over into global markets.
What a difference a few days makes!