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Back in action

I have just returned from a wonderful vacation in Burgundy and Provence, France and have been blissfully unaware of the carnage in the markets. I will resume regular blog commentary plus the daily insights and I do promise to get the charts updated!!
 My brief take on the current state of affairs is that it is vital to pass this legislation or else there is a strong chance of this deflationary trend gathering further momemtum.
 The fed will lower rates again, to be sure, but it is vital that credit begins to flow again and that institutions can rid themselves of these toxic waste assets.
Of course, the US will pay for this by issuing US Treasury bonds which could curb the rally there; government bonds are surely the only game to play as there are so many unknowns and who knows how many bottom fishers have already had their heads handed to them.
 I will be focusing intently on all the developments and will offer any strong opinions which I develop.



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