Good morning. Some interesting items and perspectives this morning, include some rap poetry about a Treasury Secretary:
A higher unemployment rate might be a good thing (Marketplace Morning Report)
Wall Street should be happy the Yanks won the World Series (Dealbook):
In the previous 22 World Series since 1936 in which the Yankees were victorious, the Standard & Poor’s 500-stock index returned an average of 10 percent in the next year, according to the analysis (below) by Richard Peterson, director of credit, markets and risk at S.&P. and, obviously, a great baseball fan. But when the Yankees lost the World Series, stocks fell an average of 13 percent.
The Fed says: Let the bubble blow (Marketwatch) More bubblicious:
The Fed is playing a dangerous game of chicken with investors and with the jobless. Unless it helps let the air out of some of this rally soon, the drubbing the market will take once things do turn could be vicious.
The government has no faith in recovery (Real Clear Markets):
I believe removing such artificial stimulus is needed so the country can immediately begin de-leveraging and to prevent the accumulation of yet more baneful debt. What is truly amazing is how many people on Wall Street are foolish enough to postulate that our problems have been solved. The stock market will not be so easily fooled for much longer.
Obama’s gibberish on jobs (New York Post)
Battered company says no to job cuts (NPR)
Must see: Rap Poetry Ode to a Treasury Secretary (not Geithner):
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