Daily Reading on the Financial Markets: 10/5/11
Zero Hedge provides a chart-heavy recap of yesterday’s melt-up into the close.
The Occupy Wall Street protest has moved into mainstream consciousness. Ironically, it’s seen as a “left” movement against Corporatocracy, whereas the Tea Party was a “right” movement against government beaurocracy. I get the impression that they (or mainstream media) don’t realize they are fighting against the same Beast – government and large corporations are in bed together, as part of the same Oligarchical beast. Or maybe I’m wrong, and Occupy Wall Street protesters really do want a Totalitarian regime.
The Reformed Broker says it may be 2008 all over again, with some new, even more frightening players.
At Seeking Alpha, Mark Perry says don’t put the jobs cart before the growth horse.
Chris Kimble notes that high yield bonds are not suggesting a bottom is at hand yet.