EUR

Coming from CEU, any blow to the IMF is a welcome development. Any blow to the socialists is also welcome. Today is a very good day indeed.

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Ignore: I was just trying to be cute. But I wouldn't initiate long positions here for ~1000 pips. Let the trend establish, prove itself, and go in for 600-700 pips with much less risk. But that's just the scalper talking, I'm not that good in swinging. But I'd still wait for that 1.40 run, see if it holds, if not, wait for the 1.35 run, see if it holds, etc. you get the idea, buy on the way up. Internal liquidity is still quite weak for the euro, even today; when it started to fall from 4140 to 41 there were no bids to speak of to support price. This run-up can go as high as ~44 IF 4180 is broken, but I don't expect anything beyond that. If so, then game plan needs rethinking.

Interesting article !

My general view of economists is very simple. Like lawyers they have zero "common sense" and most often no practical experience either. Like running a biz or even a simple household. They come out of Uni and go straight into politics or economics. What hope do we the people have? none whatsoever.

All that is needed is simple domestic economics. You cannot buy or consume more than your income will support, period.

The reason I only read John Mauldin for big picture economic analysis is because he is a "practical man". He actually ran a business and he came from an impoversished family. I rate him #1 or 2 in the league of accurate forecasters.

When the IMF decides to assist a country, it dispatches a "mission" of economists. These economists frequently lack extensive experience in the country; they are more likely to have firsthand knowledge of its five-star hotels than of the villages that dot its countryside. Stiglitz
http://watchingthewatchers.org/news/958/why-do-they-hate-us

I propose Italian PM for next IMF leader.

Dave ur tp's have a bullseye on them