xjo princess diaries wednesday, page-48

PB, thanks, the cynical me thinks the XJO is following whichever market that goes down.

My idea is long the SPX and short the SPI as a hedge. I don't believe the market is ready to fall over yet. The FED will do anything to keep it afloat as long as it can. But it will soon discover no amount of QE will savage the shipwreck that's the US Congress.

Armstrong is right, buying bonds from the market is futile, what the US needs is complete monetization of debt, i.e. instead of issuing debt just get the money from the FED.

But the RBA is not prepared to save the ASX. Here's the idea, the RBA should credit each tax payer with $100,000, yep, just free money out of thin air, pay down your debt and/or go shopping.