To: zman69 who wrote (8822) | 8/28/2012 3:40:26 PM | From: Joseph Silent | | | If I had to guess I'd say that we are due for a big surprise candle
in the next day or two, because the distance between chart lines is zeroing out.
Time will tell. Perhaps it's just hope. :) |
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To: zman69 who wrote (8820) | 8/28/2012 5:41:21 PM | From: llap | | | The pessimism bubble is blowing up more and more: nber.org, amazon.com There seems to be a growing consensus among economists that growth is done for good (at least for decades to come). Once this has become THE consensus, we will enter another period of strong growth for a whole generation. While I believe the worst is over with the Great Recession passed, I do not think we are there yet. We will be there once the incomes across the whole income spectrum start to grow again, not only for the top 5% as currently. It may take a few more years for this to happen. |
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From: zman69 | 8/29/2012 8:47:51 AM | | | | "it should be understood that fulfilling our mandate sometimes requires us to go beyond standard monetary policy tools. When markets are fragmented or influenced by irrational fears, our monetary policy signals do not reach citizens evenly across the euro area. We have to fix such blockages to ensure a single monetary policy and therefore price stability for all euro area citizens. This may at times require exceptional measures. But this is our responsibility as the central bank of the euro area as a whole." -Draghi
ecb.europa.eu |
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To: zman69 who wrote (8834) | 8/29/2012 9:03:38 AM | From: humble1 | | | Z: Drahi gets it ... we have gone from "irrational exuberance" to "irrational fears" in this cycle. i wonder if he had the greenspan quote in mind and i know it was well before the 3/24/00 spx top, but, intentional or not, it's interesting.
the "exceptional measures" is the key, of course. it clears the legal path for the ecb to do lots more within their mandate. |
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