‘This Is Rubbish’: Former Lehman Trader Says Stocks Living On ‘Hopes And Prayers’
Markets were pleased on Thursday with news that the US and China are set to hold principal-level trade talks in early October following ministerial-level meetings in Washington which will ostensibly set the stage for "progress" between Bob Lighthizer and Liu He next month. It's a step in the right direction, but we crossed the Rubicon long ago when it comes to the trade war doing lasting damage to the global economy. Germany is on the front lines, and the lackluster data didn't abate on Thursda
4 thoughts on “‘This Is Rubbish’: Former Lehman Trader Says Stocks Living On ‘Hopes And Prayers’”
He’s absolutely right, but . . where else should one put their money right now? Non-yielding gold? Negative-yielding European debt? Add to the UST bubble? Highly speculative Argentinian bonds? Under the mattress? There’s a little bit of the “in the land of the blind, the one-eyed man is king” philosophy here or, to use your vernacular, the cleanest dirty shirt.
The mentality is no different than mortgage lenders who assumed that Fannie and Freddie were insuring the “market.” The markets fully expect the CBs to do “whatever it takes” to bail them out. What’s a wealth effect without wealth? What could go wrong? —US mortgage underwriting from 1998-2007 was such a positive force in the economic life of the planet.
This may be totally a coincidence but I feel it should be reported… ‘I hung a carrot in front of my Donkey Leroy’s nose this morning and gave him a kick in the ASS (no pun) Anyway he jumped almost 400 feet…WOW…..
400′ on a single bound?! From ground level?! That’s the damnedest thing I e’er heard!