Daily Reading on Financial Markets: 8/11/11
Charles Hugh Smith shows how the Fed and Wall Street have lost the faith of investors, and does so with a lot of charts.
Chris Kimble notes that the 30 year Treasury is testing the 61% Fibonacci retracement of its 2008 highs – the same spot it topped out at last year.
Bruce Krasting, on Zero Hedge, says European banks are in dire shape, and U.S. Money Market funds a big factor.
Andy Lees from UBS paints a very bearish long term picture for the U.S.
Mebane Faber with an interesting look at market psychology, and how a simple change of perception can result in dramatic price swings.