Weekly Chart Review
We ended last week’s update highlighting the overbought condition in the market, as measured by the S&P 500, and a warning that a consolidation was very likely. This week, we got that consolidation at the hands of the never-ending European debt debacle. Financials really got clobbered, down by more than five percent. The best performing .. read more
Rio Rising
Brazilians celebrated in the streets Friday as the International Olympic Committee awarded the 2016 summer games to Rio de Janeiro. From an economic standpoint it is somewhat debatable whether winning the right to host the Olympics is worthy of celebration, but Brazilians, who never seem to need much encouragement in the celebrating department, have plenty .. read more
Martin Wolf Pleads for a New Bretton Woods
Martin Wolf writes a passionate plea for a new Bretton Woods agreement in his article at FT.com: We have arrived at the point in a crisis when ambitious leaders call for a “new Bretton Woods”. It is easy to mock such language. Yet it is easy to see why this crisis should make people think .. read more
