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Quotable – In the world maybe be flat, but your Socialist brain is concave category…. From New York Times columnist Thomas Friedman (a partial excerpt from the entry), complaining Sept. 9 about the difficulty of passing health-care and cap-and-trade bills, yearning for "one-party autocracy" -- which "certainly has its drawbacks. But when it is led by a reasonably enlightened group of people, as China is today, it can also have great advantages. That one-party can just impose the politically difficult but critically important policies needed to move a society forward in the 21st Century."
[Editor Note: It worked so well in Russia and China that they only ended killing about 100 million, conservatively, of their own people. And this tripe passes for the thinking of the “enlightened elite”? Truly sad indeed, and yet another example of why the ends justify the means for socialists of all stripes. Scary!]
FX Trading – Growth and inflation? Key to our 10 reasons the dollar has bottomed Today’s US price data a bit hotter than expected this morning. China boom numbers out last night. And guess what, the dollar likes what it sees. Is a growth surprise in the air? It would change the dynamics for the dollar and is a key part of any story that suggeststhe dollar has bottomed. Did I say bottomed? Well, yes I did, thanks for asking….
Here are our 10-reasons why the buck has bottomed…try to read these with a straight face. If you can’t, then maybe we are on to something.
1. Credit Crunch Sea Change - US Savings going up; debt sentiment changed
2. Risk Bid Trigger Again…initially - Greece and Dubai
3. Growth – Not as bad as expected; it’s all relative - Non-farm payroll and Mr. US Consumer
4. Carry trade idea history - Fed hikes before BOJ and before ECB
5. US Assets are very cheap - Foreign Direct Investment Flow (currency cycles play that role)
6. Sentiment – Newsletter writers are in apoplectic territory - Everyone hates it and one-way bet
7. Correlation – it has changed - No new low with gold blow off and stock high
8. Technical - Broke its weekly down trend & extremely oversold
9. Euro craters as a currency - Rush to dollar-the world reserve currency punctuated
10. Bill Gross isn’t always right; neither is Jim Rogers*
Have a great weekend.
Jack Crooks
Black Swan Capital LLC
http://www.blackswantrading.com/
Interview with a “Maniac” commodities trader this month…
Our special “trader” interview section of Currency Investor this month will come from our friend Kevin Kerr. He is the proprietor of Kerr Commodities Watch. Kevin is a frequent guest on every business show imaginable sharing his excellent views on all things commodities. We are looking forward to hearing Kevin’s insights.
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