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.