Daily Reading on the Financial Markets: 12/11/11
At Seeking Alpha, James Kostohryz notes the near unamimous chorus of market technicians predicting a year-end run to the 1320-1340 level on the S&P.
Gregor Macdonald speculates that this European debacle may the “death knell” for Modern Economics – a field that continues confirming its own uselessness with each passing crisis.
Remember 2008-2009 and the opportunity to let the TBTF’s Fail? Well, they’re back and bigger than ever and financials are now a larger portion of GDP than ever before.
Barry Ritholtz estimates the total Fed bailout at $29T, asserting that “the financial sector remains dangerously under-capitalized and overleveraged.”