Radio Rallies & Reversals
Here's the economic calendar for this week:
Today we've got building permits in Canada; Tomorrow we've got Consumer Credit in the US and the Bank of Canada policy announcement; On Wednesday we'll get Canadian Housing Starts followed by New Home Prices on Thursday; and on Friday, we'll get a read on US Consumer sentiment.
On 60 Minutes, Fed Chairman Ben Bernanke went on the record as saying that QE3 is a possibility if economic activity doesn't pick up. The fear is that all this stimulus will cause distortions in financial markets not to mention create unexpected asset bubbles. I think we'll already seen plenty of examples of financial market distortions, and as for asset bubbles, that's the whole point according to Jeremy Grantham - Make people feel wealthier in the hope they'll spend.
GB
Today we've got building permits in Canada; Tomorrow we've got Consumer Credit in the US and the Bank of Canada policy announcement; On Wednesday we'll get Canadian Housing Starts followed by New Home Prices on Thursday; and on Friday, we'll get a read on US Consumer sentiment.
On 60 Minutes, Fed Chairman Ben Bernanke went on the record as saying that QE3 is a possibility if economic activity doesn't pick up. The fear is that all this stimulus will cause distortions in financial markets not to mention create unexpected asset bubbles. I think we'll already seen plenty of examples of financial market distortions, and as for asset bubbles, that's the whole point according to Jeremy Grantham - Make people feel wealthier in the hope they'll spend.
GB
posted by Gordon Bell at
6:19 AM
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