Bernanke Grasps the Obvious...
Gold has retreated from recent tests of the upside, leaving the highs from the past couple of weeks at 1737.64/1738.35 intact. The pullack comes amid rumors of an Israeli/Hamas cease fire, which has caused oil to retrace all of yesterday's gains.
While the ebb and flow of tensions in the
Fed chairman Ben Bernanke said in a speech today that the US will continue to face many headwinds to growth, but the fiscal cliff is the most immediate danger. He warned that the Fed doesn't have the tools to fully offset a drop over the fiscal cliff, which would likely push the
Treasury Secretary Geithner said in a recent Bloomberg interview that the debt ceiling should simply be eliminated. Given that the
As noted in yesterday's report, the damage may have already been done. A Wall Street Journal survey released yesterday shows that planned spending by major corporations has fallen off a cliff. This reality was also reflected in the October durable goods miss and soft capacity utilization.
If we do go over the cliff, things will almost assuredly get worse. So while there is incentive for Congress to come together and reach some sort of bi-partisan compromise to avert economic catastrophe, that deal would likely be nothing more than another 'kick of the can' down the road.
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AAPE x 《龍珠超》膠囊系列即將開售，為情懷買單 前言 Aape×《龍珠超》，回憶襲來 聯名衛衣介紹 聯名T恤介紹 日常為情懷...7 小時前