Daily Reading on the Financial Markets: 11/26/12
Chris Kimble points out that the S&P may be “kissing” the underside of its primary trend line from the 2009 bottom, which would now be resistance. This is a big deal, imho.
The Big Picture on why Obama’s administration has chosen the Big Banks over Main Street debt relief. Which reminds me: I’ve seen cars with a “We are the 99%” bumper sticker beside an “Obama-Biden” sticker. I wonder if the owners of those cars recognize the irony of placing those stickers together.
Zero Hedge provides an update on Argentina’s refusal to pay $1.3B in sovereign debt to a group of American investors.
GovtSlaves notes that the total number of Americans on food stamps now tops the population of 24 states combined.
Macronomy on tightening credit spreads and the desperate search for yield in a market awash with liquidity.