Daily Reading on the Financial Markets: 8/15/12
John Aziz on what it might look like, and who might benefit, when all this global debt can no longer be kicked down the road.
My favorite technical analyst, Chris Kimble, notes that the bulls may be nearing exhaustion as the Dow Jones is still flirting with 70 year old trendline resistance while the VIX is trading at its 4 year low. To boot, emerging markets (via EEM and EFA) are also facing resistance in potentially very bearish patterns.
At Minyanville, David Banister takes a very different perspective, suggesting the S&P may have one final push to new highs according to his Elliott Wave count.
The New Yorker on the “caging of America”, and how the American penal system has grown to be the largest in the world.