Among many jitters in the stock market, today it was hammered hard by the news from GS that the vampire squid has hired a high profile Washington based lawyer to defend its chairman from the possible perjury charges for lying to Congress. I am not sure if we should laugh or cry. After all, it may be all noise without any meaningful action. But we can be assured that lots of backroom posturing is going on and there will be more market volatility. The stock markets today are a giant casino run by the Banksters. They always win.
Market’s hope is being built on coming QE3 expectation but I think the market will have huge
disappointments there. I do not think the Fed is going to come out with any additional bond buying program now. But if we step back a while from the five minute chart and daily churning and look at the big picture, we can be sure that central banks of the world have almost run out of bullets to inflate the bubble.
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