Monday, February 13, 2006

No Way to Run an Economy

Markets are jittery, trying to sniff out the latest bubble so they can park their reserves in it. This is a big week. Bernanke gives his first speech, investors are squeemish, gold is hovering, the Dow can't seem to get it up, and market commentary has taken on the sound of a Poker rap sheet. "If" this does this, or "if" that does that, "then investors would be wise to"... whatever.


[Thanks to redkite.ca for the image.]

"Right now, the market is going through rapid rotation and very little stability in the process of trying to find sector leadership," investment strategist Fred Dickson of D.A. Davidson & Co. declares here.

That's what I said, we're all bubble-searching.

This week's economic data may offer clues on inflation and how many more rate increases might be ahead. Then maybe our corporations can settle down and get back to the real business at hand, instead of worrying about where to put their reserves and pension money.

Makes me nervous just thinking about Wednesday. I'd hate to be a big-time business person right now.

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