July begins with a bang

Leading into this earnings season we have the fifth or the third biggest bank ever gobbled up by the FDIC after a run on its funds. The leading government mandated mortgage bankers that last recession we saw old and ingrown declaring themselves insolvent getting sold off. All ahead of the earnings period, when lack of disclosure becomes fraud. Last quarter was Bear, next quarter? Everything else is still looking worse. Housing did not bottom as it seemed it might have last month. Unemployment continues to grow. Inflation is growing, and a global slowdown appears on its way, with open discussions of Europe's coming recession now. The Shanghai market is as if last years fantastic rally never occurred. The thought that occurs to me, however is that the market's now are fairly valued for business as usual, which it is not, is it?

Vingina wolf starts to the lighthouse writing of those cursed presently by whatever news of the future they behold.