The stocks came back a bit with traders involved showing a sigh of relief. But is this kind of upward movement sustainable?? I don't think so. There is so much more to loose for so many odd fundamental and technical reasons. The US national debt is increasing by $5000 every single second. The United States Of America needs another baby boomer generation which is a possibility but with not these kind of expenditures. The commodities are priced in terms of US dollar, most of the massive economies like China hold US Treasury bonds, US is about to quantitative ease for the third time. Seriously speaking there is no real value in this particular currency and for me we are heading for a financial disaster again.
Austerity Vs Excessive spending debate
Both America and Europe had their own way to deal with this financial crisis. If you ask me both of them are crappiest idea in their respective narrow brains. This shows lack of focus in their government's policy to deal the basic problem of bubble formation in their economies. Rather than dealing with this problem they are trying to be mischievousness young boys trying to escape problem for a short span of time.
I have currently come through on news channel saying Dow tops 11000 and I sensed some USD in my accounts.
Trade well and be safe.
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