By James Corbett, The International Forecaster:
Have you heard the latest? Barry has nominated Janet to replace Ben, but now Rand is threatening to filibuster unless the audit bill is passed! But this week, we will find out the sure-to-be exciting answer to the question that’s on everyone’s lips: will the FOMC taper, or won’t they? Will their forward guidance present reason for hope?
Will Apple’s strong sales figures help to boost sagging markets, or will the fact that their cash stockpile seems to have plateaued make investors flee? Will gold hold its new support levels, or break out to the upside? Stay tuned to find out!
No, this is not a description of a soap opera, but it might as well be. The markets have always been about news, rumor and gossip, just like a good soap opera, so perhaps the comparison is inevitable, but at least in times past there were actual economic factors still driving the economy. These days it’s the news, rumor and gossip that’s in the driver’s seat, and we’re all along for the ride whether we like it or not.
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