Man Who Sold the World

by ilene, Zero Hedge:

Here’s the latest installment of MarketShadows: The Man Who Sold the World: Sept. 2, 12.

Overview:

1. Nothing announced at Jackson Hole.
2. Jobs gained since 2008 were disproportionally low-wage jobs, as middle class jobs have been steadily declining (outsourced).
3. Gains in the stock market since 2009 have been largely due to the Fed’s zero interest rate policy (ZIRP) and quantitative easing (QE).
4. A majority of GDP growth has been due to the consumer, and the stock market. Obama has cut government jobs.
5. The stock market reflects the moves in the Dollar; the Dollar is at a critical point.
6. 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.
7. Pause in Treasury supply next week, enough liquidity for market party to continue–assuming no surprises.

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