PreviewThe people shape their own destiny
-- either as free people or as slaves.

If they remain self-reliant, they stay free.
Ever expanding state power destroys lives.

Government panacea is a defective idea.
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Friday, November 5, 2010

The European Market Speaks - Obamanomics Stinks.

The dollar was unable to gain any traction in Europe on Thursday and remained under pressure through much of the day. Underlying sentiment remained extremely negative following the Federal Reserve decision to boost quantitative easing the previous day.

The dollar continued to suffer from a lack of yield support and there were heightened fears over a persistently weaker currency in the medium term as a side-effect of the aggressive Fed action to support the economy.

The US economic data did little to improve sentiment as jobless claims rose to 457,000 in the latest week from 437,000 previously, although the underlying measures were more resilient. The latest payroll data will be watched closely on Friday, although the impact may be less than seen in recent months given that the Fed has already made the quantitative move. A stronger than expected figure could trigger a covering of short positions and there may be some scope for investment inflows which would provide support, but it will be difficult to secure a more durable rebound in dollar confidence.

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We spoke - We'd rather be free

Its a relief the "Democratic Party" lost so much authority in the recent election. They precipitated all this economic damage in their attempt to bring their sour hope and vile change to the country. Fortunately, it looks like their hate-fest has ended.

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