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Under Construction 7/21/22

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Today, I'm living and working in a construction site. Major renovations of the apartment that I closed on last week have begun. This morning a small crew came in, demolished two interior walls, removed upper kitchen cabinets, and did a few plumbing connection upgrades, and started cleanup of a ton of debris before lunch. After lunch they came back for 45 minutes removed the debris and left 30 minutes ago to haul it all to a landfill.

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It was really amazing to watch. These guys moved like lightening in a ballet of work that I could clearly see that they had done together as a team for years. I'm absolutely thrilled with what they accomplished on the first day. 

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Meanwhile, something is under construction in the market. Is it the roof, or just another floor in a multistory building? In the very short term couple a day view that we take here on this forum, there's a 5 day cycle projection of 4030, so I guess this is just another floor in the new Towering Inferno. 

Maybe that move is just starting here at 8:22 AM New York Time. They gotta get through resistance at 3975 first. If they do, I think you can count on that 4030.

yktzw

 

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That new TPI Programme from the ECB will be a liquidity boost, right? Basically they say, there will never ever be a default of any EUR-area state and when times get really tough they even gonna buy corporate bonds. Moral hazard, allez allez allez!

Also there is no criteria mentioned which needs to be reached to then allow them to use the TPI Programme. They say something like „at times of economic stress“. Who defines that? What is economic stress? A downturn? A stagnation? Over which time period? Questions over questions….

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2 hours ago, fxfox said:

That new TPI Programme from the ECB will be a liquidity boost, right? Basically they say, there will never ever be a default of any EUR-area state and when times get really tough they even gonna buy corporate bonds. Moral hazard, allez allez allez!

Also there is no criteria mentioned which needs to be reached to then allow them to use the TPI Programme. They say something like „at times of economic stress“. Who defines that? What is economic stress? A downturn? A stagnation? Over which time period? Questions over questions….

I don't know. The NY Times says 'the European Central Bank moves to reverse years of ultra-loose policy".  (Why the hyphen, I don't know that either) Sounds like they are going to be tight to me. Right?

One has to understand that the NY TImes is a friend of the Fed and nothing has shaped the narrow perceptions and broad misperceptions of the Fed and monetary policy  more among non-conservatives than the NY Times. To this day if you criticize the Fed your marked as a member of the John Birch Society.  

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41 minutes ago, Jorma said:

I don't know. The NY Times says 'the European Central Bank moves to reverse years of ultra-loose policy".  (Why the hyphen, I don't know that either) Sounds like they are going to be tight to me. Right?

One has to understand that the NY TImes is a friend of the Fed and nothing has shaped the narrow perceptions and broad misperceptions of the Fed and monetary policy  more among non-conservatives than the NY Times. To this day if you criticize the Fed your marked as a member of the John Birch Society.  

In Germany, when you criticise the ECB you are a cold hearted right-winger or even a „Nazi!“

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