Daily Reading on the Financial Markets: 5/10/12
From Zero Hedge, Citi’s Willen Buiter calls for Central Banks to engage in “helicopter money drops.” No, seriously.
Chris Kimble points out a couple bearish indicators, including a breakdown of the Australian Dollar and Newsweek’s ultra-bullish (contrarian) cover.
Lakshman Acuthan defends ECRI’s recession call on CNBC, saying it’s nearly upon us.
Commenter “VII” at PragCap summed up the drama of the ECRI recession call pretty well, imho:“I do feel like it’s a poker game.
Lakshman on one side…one of the best players, confident.
Wall St. on the other side arrogantly raising.
Lakshman calls the bluff…and underneath the table is a guy with a beard and a card printing press handing Wall St. an Ace. It’s happened 3 times already and we’ll see if the man with the beard has anything left or is Lakshmans hand so good….it just won’t matter.
I know some of you are probably wondering what the man with the Beard is doing under the table. Well if you look between deals you’ll notice Wall St. with a big grin. (terrible visual..I know)”