Archive for September 4, 2012

2012/09/04: Quick Post: Weekly Perspective now available… HUGE European focus

September 4, 2012 Leave a comment

© 2012 ROHR International, Inc. All International rights reserved.

Very short and sweet today, because all of the perspective is still much the same as our expectations last week that Jackson Hole was going to be more style than substance. And Mr. Bernanke certainly confirmed all of our expectations that while the Fed may still ‘do something’, it will likely be less influential in the real economy than in the risk asset psychology. His defense of the previous rounds of quantitative easing (ostensibly QE1 and QE2) was eloquent, and might have even had some merit.

Yet even many of those who believed those efforts were necessary at much lower levels in the equity markets allow that further liquidity infusions might accomplish little more than a further escalation of commodity prices. And that would not even help equities very much. And in any event the greater risk or redemption likely rests with Europe now that the specifics of any rescue effort must soon be more clearly articulated.

That is exactly the sort of focus we have concentrated upon in this week’s Summary Perspective on key influences, available through the link in the right hand column. It joins yesterday’s Weekly Report & Event Calendar.

It still gives due credit to ECB President Draghi for the masterful “do whatever is necessary” to save the euro ‘spin’ he placed upon the late-summer phase of those negotiations.

And yet…


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