Chinese stocks last made a high in AUG of 2009, and even after big deal GREEK TO ME bailouts from IMF (US foots 20% !! from where?????) and another big day on WALL STREET I a scratching my head as to why doesn't CHINA join the party? CHINA is chief cook and bottle washer of the reflation brigade. Real efforts seem to being made to slow their property bubble.
WHEN WE SEE PROOF and reality coming back here, a slowing of liquidity efforts.....gamesmanship, it would stand to reason our markets would more closely reflect what is seen on the street and that markets do carry risk and dont always just go up.
Calling an end to ANY BUBBLE not an exact science....but I am confident I will be able to blow the foghorn for caution the next leg down is here....
European shares are off sharply as well, as for Greece.......STILL NOT ENOUGH? just delaying the inevitable..... GREEK debt sure is a problem when they can't print their own money.....our debt if now near fiscal deficits of $1.5 Trillion will be close to pucker 10% of GDP factor......why is it necessary for the BANKS to buy SO MUCH FED PAPER (BONDS)?....my guess who else?
D
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