Market Recovers From Bernanke Reaction, Close Down Slightly

Wednesday, February 10, 2010

  • Another see-saw day ends slightly lower with the Dow losing 20 points (0.2%). Ben Bernanke's written testimony was presented today outlining a moderate exit plan from the extraordinary stimulus actions taken throughout 2008. While stocks initially sold off falling to 96 points on the downside, they recovered throughout the day.

  • I was quoted in the International Business Finance newspaper today!

  • We're still waiting on Europe's plan for Greece. Germany and France are leading talks currently demanding that Greece reduce its budget deficit which stands as the largest in the Eurozone. The problem with distinct economies using the same currency is that individual countries lose the power of monetary policy. So, Greece has been forced to rely solely on fiscal policy for government intervention in times of economic hardship.

  • Obama doesn't `begrudge' Blankfein and Dimon's bonuses. So much for all that "fat cat bankers" talk!

  • The snow is really coming down now! At least a foot now.
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