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Last minute call to fill in (not the regular gig) on Kudlow & Company, CNBC today from 5:00 – 5:15 pm.
Let me remind viewers that I am doing this from the dreaded remote studio — a small hot box essentially a poorly lit closet. As previously mentioned, I am actually Waspy, thin and blond looking, and not a chubby, Roman-nosed fattie . . .
Does Kudlow give you any guidelines, implicitly or explicitly on what you should or should not opine?
You should join AFTRA. Then we could look up your bio on imdb.com. Is it true that next season you play the bear on “The Shield”?
In the remote studio, on a last minute fill in for a cancellation, I get a subject matter as they are wired me up — normally, I get a few hours heads up.
Given the strong market today, I had a sense it was going to be about the rally . . .
you actually look suspiciously like my high school boyfriend circa 1975…
Did we meet in a club down in old soho where you drink champagne and it tastes just like cherry-cola ?
Yeah. No doubt Larry will explain to us why we wouldn’t have rallied today if W wasn’t president.
Boy this is going to sound crumudgeonly, but anytime people get this excited about a 50 point rally I get nervous. It feels like January to me… the start of a nice rally that completely sells off at a later date. I’d rather wait things out and join everyone on the sell side.
Goldilocks is a nice story, but it does end with her running and screaming back into the forest when the bears come home.
All kiddin’ aside Mr. Big. I’ve been paying attention for a couple of weeks now. I think I’m a reasonably good judge of character.
I suspect you’re a decent person with a good heart.
Thanks for the site. We get to exercise our alter-egos here.
Todd,
I believe today, Wednesday, officially marks the longest time frame in the twentieth century (now 21st as well) that we have gone without a 10% correction in the market. (Since the S&P 500 was created, that statistic refers to the S&P 500 as the benchmark for such a correction. Not the Naz).
You should be nervous because this is not the best economic conditions we’ve had in the last hundred years to go along with the only correctless market to go with it.
Good point B, but if you check out the money supply you can see why. When the Fed started raising rates, they kept printing paper on the side. Look at a chart of the dow/gold and then just the dow. Both have a similar trend until mid 2004 where there is a serious divergence. Dow is up but dow/gold is way down.
Essentially the market is being inflated higher by the Fed. With real estate peaking, they have to create another asset bubble. They are providing so much liquidity that the market has no place to go but up.
M3 has started to accelerate its rate of growth over the past 4 months. What will happen when its gone?
That ain’t so any more my pal. The Fed is shutting off marginal lending practices and pushing up loan loss reserves. And, it doesn’t really matter if they printed money till hell froze over. If there isn’t any demand, it has no effect. While I don’t buy the argument the consumer is tapped out, I do buy the argument the consumer is nervous and has tightened significantly. Regardless of which side you are on, it looks to be that the consumer spending binge is abating.
Stability creates instability.
I’m kind of embarrassed to admit that I was well into my 20’s before I understood that Lola was a transvestite……………