As I was saying Thursday the government in China will step in. I've been impressed they let it go down as much as it did. 26% year to date at the bottom Friday morning. It's up like 8% since then. Let me ask this. Are we going to let China win this 'capitalism' thing? Hell no, we are going to be great, the greatest, or die trying.
I have no idea how it will all play out but sooner of later The Party is going to control the Fed. The Fed is the weak link in our PPT.
(b) The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible.
(c) The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes."
The Working Group consists of:
The Secretary of the Treasury, or his or her designee (as Chairperson of the Working Group);
The Chairperson of the Board of Governors of the Federal Reserve System, or his or her designee;
The Chairperson of the Securities and Exchange Commission, or his or her designee; and
The Chairperson of the Commodity Futures Trading Commission, or his or her designee.
I saw some blurb recently where some guy claimed to have called the 08 plunge and the subsequent rally saying from now through 19 will be tough sledding for the markets and then among other things the Fed will start buying stocks directly. Nuts? The nuts part may be a year or more of bear market to grease the skids for direct market intervention. Not buying stocks perhaps but futures of course, and QE. Then again if the laws are actually followed the Fed stands in the way.
There is nobody in the whole world who does not want asset inflation.