Well, for those who knows little, when Edmund Hillary scale the top of Mount Everest, there is the Sherpa Tenzin who accompanied him and assisted him on the climb. Imagine they were the first people, and there was hardly any pegs or guiding ropes.
Hence we can safely say, without Tenzin, Edmund Hillary would not have scaled Mount Everest. In fact there were rumours that it was Tenzin who reached the top before Edmund Hillary.
Do you need a Sherpa ? email dollarproaragon@hotmail.com for a subscription Sherpa. Of course a Sherpa comes with a fee. Imagine who would accompany you up Mount Everest for free ?
Hence we can safely say, without Tenzin, Edmund Hillary would not have scaled Mount Everest. In fact there were rumours that it was Tenzin who reached the top before Edmund Hillary.
Do you need a Sherpa ? email dollarproaragon@hotmail.com for a subscription Sherpa. Of course a Sherpa comes with a fee. Imagine who would accompany you up Mount Everest for free ?
Update 9:40 am ET
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Pinalto say risk is on the growth side, inflation has edged up. Overall a balanced talk.
now waiting for Bernanke. The media wants the market to believe Bernanke would endorse the fiscal stimulus package, which Bush would announce on the State of Union address, his last.
Gordon Brown going to China, what can he brings for GBP ? Again does not look good to your host if GBP is depreciating. Nobody buys a depreciating currencies. May be China should buy more Gilt. Anyway the yield at 5%+ is attractive, as good as those Singapore/Dubia gets from their investment in Meryll and Citi.
Wachovia guy says economy is in a grow-cession. Oh, my Groin-cession.
seriously, earnings would be slow and not growing.
GFMS guy Klapwijk say Gold would reach 1000 in 2nd half of 2008. Platinum is the best performing.
Update 10:25 am ET
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Brainless speech. The Economic stimulus has to be near term and temporary. Of course !, Bush remaining term is only 1 yr. Hence to get the best chances for the Repbulican, the stimulus has to be implemented as soon as possible, and to benefit the current administration only.
Bernanke says "He is not forecasting Recession".
Ok, that is enough. Market, pls rally.
Bernanke says Europe is different, Europe does not have a housing crisis. Fed does not see the potential slowdown in growth in Europe and Asia. Hence the different approach to interest rate.
I.e. Bernanke has no problem with ECB holding if not hiking rates.
Bernanke also says that he does not use GOLD as a measure of inflation. As Gold may also reflect geopolitical concerns. Ok, GOLD is unleashed.
Update 11:10 am ET
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A congress woman mistaken Bernanke for Hank Paulson. She was asking if those Bankers who got huge bonus from the subprime lending should return the Bonus to the American people.
In fact that should be the way, penalise these Rich CEOs, Bankers in the court, and plough the monies back into the system.
SPX touched 1355, DOW 12395. all below multimonths support.
We got to see if it is going to be a fire sale once Bernanke finishes. That would have implication for Euro and Gold.
one congressman say that during the best of times, the poverty rate actually goes up. And now the best of times is over, that it.
Tax cut actually cost the American people.
IT is clear the TAX CUT actually benefits the rich.
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