I guess all market eyes will be on Bernanke tomorrow. Phil says he’s between a rock and a hard place .
I think maybe he will shave, or show up in a pair of CROX to deliver his speech…freaking out the market no matter what he says.
I was reading Jimmy Kingsland’s blog tonight and he had an interesting overview of a bearish Citibank ‘crash’ scenario .
For me it’s a yawner. It sucks when the outcome is known. The market is discounting Bernanke coming to the rescue. He is screwed as Phil notes in the title. If he tries to set an example and make the weak take their medicine, the market could splatter and the Citibank scenario could unfold. That would be exciting, but probably stupid.
If there is as much trouble as the ‘experts’ now say, the market will do what it’s supposed to do no matter what.
In the meantime, the idiot banker/brokers downgrade each other . Classic stuff. The players seem more suited for Comedy Central these days.