moneymcbags (< 20)

2/12/2010 Pre-Market Report: China tired of Greece stealing headlines, raises reserve rate to try to be January's Economist centerfold, promises to show their Shanghai if selected

February 12, 2010 – Comments (0) | RELATED TICKERS: EHTH , BRK

It's a travel day for Money McBags so we'll get to the market news early.  The big story which should give pause to the market (and by pause, I mean send it into a bit of a downward hissy fit like someone at Fox News after trying to spell USA without a teleprompter) is that China is raising their bank reserve requirement once again in order to put a damper on growth.  China has been fueling the global recovery as they not only provide cheap, flimsy, and lead ridden goods for the world, but they are growing internally faster than a metastasizing anal fissure.  This is the second time in month China is raising this reserve rate in their attempt to show the world that they are not f*cking around and will try to avoid Greenspan's folly.

 

Also likely to send the market down today is Europe's recovery being more stagnant than Demond Wilson's acting career.  GDP rose .1% in Europe which was only slightly below the .3% estimate but traders will likely overreact because volatilty to them is like spinach to Popeye or like Amanda Seyfried to Money McBag's "popping eye" (and yes that is a very bad euphemism, but you get for what you pay).  This slow down in Europe's economy....read more....