Monday, March 30, 2009

G20 May Become G19 In AM...........

My thoughts tonight are the effects that the G20 may play with regard to market dynamics.....right now I just can't see anything profound coming out of the meeting....Sarcozy is posturing but the big 3 Germany US and Britain are saying no to a global regulator....so that one is dead. Of course we want our own regulator or how in the hell would we be able to keep the game fixed? Ahhh but there are some unknowns we will be running into this time.
Our standing in one year has been obliterated worldwide. We are now owned by countries that are beginning to call our bluff. The good old boys network is undergoing a rebalancing...much like the DOW. China's Central bank governor Zhou Xiaochuan is now scolding the US and developed countries with strong rhetoric http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asHMFxCnlgFA This will further weaken any agreement between the old guard occurring...
Maybe the easiest target will be the Hedgies...although their lobbies are fighting hard too.... http://www.bloomberg.com/apps/news?pid=news?archive&sid=axfvAHiMsYTU Any control on Hedgies will only strengthen the largest of the Hedge funds (which are the biggest problems) so market will shrug.
All in all I really see the G20 as a non-event...unless....and this is more insidious....Watch the riots. They may be very unsettling for market sentiment...especially on Wednesday. That is the day that 4 major groups have plans to attack Londons financial district. World confidence just can't catch a break and I think this won't play well.....Alas thank G Thurday and FASB is coming...welcome relief for a muddy next two days....Remembe gang If we are in Primary 2 ...then Thursday should be clear skies and sunshine...luv this game.

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