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Fed Turdsday Releases


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Fed Turdsday Releases 5/15/03

 

Liquidity measures rose. No surprise, the markets already told us that. Where's that liquidity downtick Doc was looking for to trigger the stock market slide? There's no sign of it in this data, that's for sure. With all this money around the economy just keeps getting sicker. But that means nothing to the stock market. What matters is cash in the pockets of portfolio sphincters, hedgehogs, and the Gang of 22 and their accomplices. Evidently there's still enough of that around to offset the tidal wave of supply developing as a result of high prices. Eventually, that tidal wave will turn the market's course. It will leave a mess in its wake.

 

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