Politics In Play This Week

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With the abbreviated holiday week and market action pretty lame right now, the Weekly Forecast is on hiatus this week as I am in the process of writing about what’s happening in Wisconsin which will be posted tomorrow.

In the meantime, I highly recommend reading Donna Dubinsky’s op-ed piece in today’s New York Times (“Money Won’t Buy You Health Insurance”) - especially for those readers who even after reading my many posts on this subject remain under the illusion that they would never be denied access to health insurance.

Politicians and “Fox and Friends” (i.e. WSJ editorial board) know they wouldn’t pass medical underwriting and understand how totally screwed up our uniquely American healthcare system truly is. The effort to destroy the healthcare legislation goes way beyond political payola. If opponents can use the healthcare legislation to rollback the definition of the Commerce Clause to the pre-FDR era, they can begin eroding consumer protections, environmental, worker safety, and other regulations on behalf of their corporate sponsors.


Alan said...

I agree, the market action is lame. I’m beginning to think technicals, fundamentals, and past cycles may become useless now. With the new “balance sheet” reporting method, it seems the federal reserve is aiming to take on a more powerful and permanent custodial role for markets. They can make regular adjustments to the balance sheet in accordance to market performance. No more bear markets. Flippin’ brilliant!

Last decade was about using leverage to maintain an illusion of prosperity while prices outpaced incomes. This decade must be about fed market manipulation creating illusions of prosperity as prices outpace income. Now I know what they mean by “the recovery”…recovery of funny money economics. So when does this house of cards tumble?

By the way, Deb, I love your blog and appreciate all the hard work you put into it. More specifically, I like being buried to my neck in heavy mercury. It’s overwhelming at times, but much more insightful to understand the details of someone’s analysis rather than just their statements.

Oh, and another observation important to using astrology for market prediction is that fear of losing an opportunity is more powerful to a speculator than fear of losing capital. In other words, the market can rally on fear.

Anonymous said...

Re: "With the abbreviated holiday week and market action pretty lame right now...."

A pity not to have your thoughts for this action-packed time given today's headlines 'Libya shockwaves batter FTSE 100' (Press Association), the soaring price of crude and Friday's Jupiter/Plito clash!

Seth said...

great summary and use of Universal themes impacting the group and individual consciousness... much appreciated!

Seth said...

Great commentary and correlation of current events with Universal themes... much appreciated!!!

Wall Street Weather said...

I appreciate all of your comments.

To Alan:
Recreating the wealth effect (market bubbles) is the only thing the Greenspan/Bernanke Fed knows how to do. The Fed has yet to grasp the old expression that those who fail to understand history are destined to repeat it. Yet for investors who understand history to paraphrase Keynes,the market can stay irrational longer than investors can stay solvent. That's why you can't fight the Fed but use your Mercury to think of events that can affect the market that are beyond the Fed's purview and that the market has failed to anticipate.

To Anon:
I wrote in the Weekly Forecast for Feb 13 that the market could be making a temporary top on February 18. More info in the coming W.F.