Only idiots say: “hey, forget about America, shit is growing fast in India.”
Look you, America still counts, being the wealthiest, most powerful country and all. To ignore the slowdown in America is entirely and unequivocally fucktarded.
What do you think, the world is “decoupled” from us?
I think not.
All you have to do is glance over the shredded balance sheets of foreign banks to understand they have massive exposure to the growth prospects of the U.S.
Should we continue to deteriorate, their banks will suffer egregious losses, causing them to cut back on retarded lending practices. In other words, bucko, the world banking system is screwed, not just ours. When the banks go, so does the underlying economy.
With regards to China-India: I am not impressed. Their double digit inflation will hamstring growth. Don’t take my word for it, look at the best future indicator, their stock markets, for evidence.
Finally, today’s close was plain awful. I endured a slight loss, mainly due to pullbacks in [[FTK]], [[RIG]] and [[PCZ]]. However, my many shorts stemmed most of my losses and reduced them to a ‘nothing to see here’ type of day at the office.
At the present, my top picks are short [[FMBI]], short [[WFSL]] and long [[REW]].If you enjoy the content at iBankCoin, please follow us on Twitter