Friday, May 14, 2010

What's the Euro Going to Do For an Encore?

Because if a trillion dollar bailout package, plus ECB buying bonds, plus a vow to defend the currency isn't going to keep the wolf pack at bay, then they have to come up with something bigger and better over the weekend. Otherwise, it's Greek riots and mass pandemonium all over again on Monday. They could go after the shorts again, because that worked so well in 2008 for like a minute. Speaking of which, I find it interesting that nobody has tried to pin the blame on the shorts for last week's mysterious mid-day market rout (and then rally) in the US. Maybe that's because the uptick rule is back in force, and "naked shorting" has been banned, thanks to all those boobs that kept insisting that if we squeezed out the shorts, the market would never be volatile again. So now what? The only sensible step at this point, if you want to keep the market up, is to ban selling. Outright. That should do the trick.

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