Wednesday, September 21, 2011

Economy Update by Paul Buzby

Stocks rally on hopes for Fed stimulus measures

Stock Market begging for QE3. If Fed does do it, dollar down, gold up. If Fed does not do it, dollar up, gold down. Probably will not do anything.

EU, IMF raise concerns over bank capital
Dollar will start getting stronger in next year. Dollar up, Euro down.

August home building fell 5 pct., slide continues
More foreclosures, Public Employees being fired or laid off at the Fed, State, County and City leve.

US files complaint against Chinese chicken tariffs
Files a complaint. That will be effective.

United Auto Workers leaders endorse new contract
Anything the Unions endorse is not good for everybody else.

Stock buybacks rise for 8th consecutive quarter
Corporations are buying back control of their companies.

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