Not long ago I wrote about the growing prospect of trade war, 21st century style. It has begun...
January 19 – Bloomberg (Veronica Navarro Espinosa): “Brazil’s success in curbing the rally in the real by imposing a tax on foreigners’ purchases of stocks and bonds is a ‘scary’ and ‘dangerous’ precedent, said Citigroup Inc. equity strategist Geoffrey Dennis. The success of the tax may encourage officials to adopt more measures to stem the currency’s appreciation, Dennis said… ‘It’s kind of scary because it might mean that the government wants to do more things over time should the currency stay strong,’ Dennis said.”
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This war, funded by out-of-control, currency wrecking Monetarist Monkeys only threatens to grow...
January 21 – Bloomberg (Shamim Adam): “Developing Asian economies face the risk of asset bubbles or overheating as the region’s growth outpaces the rest of the world this year, the World Bank said. Developing East Asia… will expand 8.1% this year… South Asia will grow 7% in 2010, it said.”
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January 21 – Bloomberg (Paul Abelsky): “Russia must take steps to prevent the overheating of assets in the first half amid ‘an obvious excess of liquidity’ in the economy, German Gref said. ‘Today the herd instinct in the presence of an utterly excessive money supply is leading to the artificial pumping up of the price of the stock market and all types of commodities, and it’s obvious that we’re going to see another expansion of this bubble,” the OAO Sberbank chief executive officer told a conference…"
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Confirm Bernanke? The man might better be charged a terror threat making al Qaeda look tame in comparison. And Geithner ... today's silent "G" in AIG come Wednesday portends fireworks whose colors look to bring negative price discovery to another "G" — a beneficiary whose swindle might make a singing canary of the Treasury Secretary...
Nice high-volume break below the neckline of a head-and-shoulders top in Goldman Sachs. Thus, the vicinity of $125 appears in the cross hairs ... this following a prospective reaction back up to the neckline over days ahead.
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