by ilene, Zero Hedge:
Here’s the latest installment of MarketShadows: The Man Who Sold the World: Sept. 2, 12.
- Nothing announced at Jackson Hole.
- Jobs gained since 2008 were disproportionally low-wage jobs, as middle class jobs have been steadily declining (outsourced).
- Gains in the stock market since 2009 have been largely due to the Fed’s zero interest rate policy (ZIRP) and quantitative easing (QE).
- A majority of GDP growth has been due to the consumer, and the stock market. Obama has cut government jobs.
- The stock market reflects the moves in the Dollar; the Dollar is at a critical point.
- Exelon Corporation (EXC) is our stock pick this week. It’s going into the virtual portfolio as a buy-write–we’re selling a call and selling a put against 100 shares.
- Pause in Treasury supply next week, enough liquidity for market party to continue–assuming no surprises.