Reasoning behind the market mayhem?
Maybe the volatility in the market (the Dow closed up 567 points today) is just a case of an irresistible force versus an immovable object. Or better yet, an irresistible option (free money) versus an optional force (fiscal spending).
The thing about volatility is …
Paging Mr. Hensarling
Tim Pawlenty, the affable former governor of Minnesota, is stepping down as the boss of the Financial Services Roundtable to pursue a possible run for … well … the governor’s mansion in Minnesota. Pawlenty is a great guy and I wouldn’t be surprised if the one-time presidential candidate aims higher than St. Paul and eventually sets his sights again on the White House.
In the meantime, if only there was a soon-to-be retiree with experience as chairman of the House Financial Services Committee who was available to take Pawlenty’s place at FSR.
Talk about bad timing – Part 1
Imagine you were a trader in New York this morning nervously awaiting the opening of the market to see if the carnage of the last two trading sessions would continue … and then you got this alert on your phone.
Better yet; what if you were a trader and the markets had already opened and you got that alert. Does it move the markets?
Talk about bad timing – Part 2
I am headed to Cape Town next week, but I sure wish I could be there this week to witness the strange juxtaposition between the current water crisis that stands to see the city run out of water in a matter of weeks and the topics on the agenda at Mining Indaba. I mean, it’s not like mining is a water-intensive industry or anything.