1 It seems the market turns back down with the ECB cutting growth projections for this year and next years growth. Downside risks have increased claims Mr Trichet who is about to leave his post in November.
Due to increased bearish sentiment I expect the market to make a temporary bottom within the next 10 days as Venus will make a T-Square with Uranus and Pluto around the 16th – 18th, which is also close to the FED meeting at the 21st.
The pathetic 300 bil plan of Obama which is just by 50 percent extending jobless benefits ( does not really create jobs) and the ugly situation that the government is doing the most firing these days anyway. all the money spent before has not created any jobs as the inevitable contraction is part of all economic cycles as even nature can tell. Problem is only that the nation maxed out the credit cards on the foolish perception house prices would rise for ever – especially Harvard trained MBAs were very eager to spread that bullshit concept. Now the consequence is that half of the world is bankrupt due to other bubbles who make the path of contraction the ugly single option which the corrupt politicians try to hide the fact for many reasons.