Tuesday, November 29, 2011

I am accused of being too bearish

A friend of mine accused me of being too bearish; I'm not bearish, I'm selective in what I report on (like growth of derivatives).  Like this morning's successful Italian 10  5and 30 10 year bond auction at a yield of 7.6% and 7.2% respectively... Yeah, that's "winning" as Charlie Sheen would say!

However, I had not seen Cramer of late, last night rant:  "Defcon 3" was truly bearish.  I only saw that this morning.  Have a look here try that for pucker factor!  Unfortunately, I agree with Cramer, credit makes the world go round, and its in short supply with the European banks cutting everywhere -- think about it AMR declared bankruptcy this morning (American Airline's parent co), most probably because it cannot access credit (and thereby repay its current lenders).

Now that's bearish

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