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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Puru Saxena
December 8, 2011
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Investors should remember that apart from offering a broad promise, the European leaders have not disclosed any relevant details. For starters, they have not stated how the EFSF will be financed and how they will magically leverage it by a factor of four. Nor have the policymakers revealed the exact details of Greece’s ‘voluntary’ default!  Nevertheless, the market seems to have decided that somehow Europe’s debt crisis is fixed and perhaps, this explains the recent strength in the Euro. The market’s fickle nature notwithstanding, we are of the view that not much has been fixed in Europe and the single currency’s strength should prove to be temporary.  If our assessment is correct, further weakness in the Euro will boost the US Dollar Index, thereby curbing the ongoing rally in risky assets. . .
In summary, although the deteriorating economic backdrop calls for a downtrend in stocks and commodities, we are not taking anything for granted and remain prepared for any outcome.  Should the downtrend in stocks and commodities resume, we will maintain our current strategy.  On the other hand, if the rally in ‘risk’ continues and the downtrends are negated, we will abandon our ‘short’ exposure and re-allocate capital to appropriate assets.  

Puru Saxena publishes Money Matters, a monthly economic report, which highlights extraordinary investment opportunities in all major markets.  In addition to the monthly report, subscribers also receive “Weekly Updates” covering the recent market action. Money Matters is available by subscription from www.purusaxena.com