Goldman’s Cohen Says U.S. Financial Markets Moving `Back Towards Normal’
U.S. financial markets have been moving “back towards normal” since March, said Abby Joseph Cohen, Goldman Sachs Group Inc.’s senior investment strategist, in an interview.
XX Sean’s note: Why does anyone listen to that woman? “Normal,” or the way things used to operate, is fast disasppearing in the rear view mirror. For years, we lived in a la-la land fueled by a credit bubble. Now, we have to redefine a new “normal” where consumers save instead of live on credit and more businesses operate with cash in the bank.
How U.S. surplus became a deficit
There are two basic truths about the enormous deficits that the federal government will run in the coming years.
The first is that President Obama’s agenda, ambitious as it may be, is responsible for only a sliver of the deficits, despite what many of his Republican critics are saying. The second is that Mr. Obama does not have a realistic plan for eliminating the deficit, despite what his advisers have suggested.
Is gas headed for $3 a gallon?
So how high will oil and gasoline rise? Sanford C. Bernstein’s McMahon believes crude could reach $80 per barrel by next year. Last time oil hit that target, the price at the pump was about $3
Cash Iron Ore Trades at Almost 4-Month High on China Price Accord Concern
Cash prices for iron ore into China, the world’s biggest buyer, are trading at the highest in almost four months on concern steel mills won’t be able to win a steeper cut in contract prices than Japanese and South Korean rivals.
OPEC Will Wait for $100 Oil Before Increasing Output, Kuwait Minister Says
OPEC, the supplier of 40 percent of the world’s oil, will only consider increasing output when the price of crude rises to $100 a barrel, according to Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah.
Related Posts
- News and Chart for Wednesday (07/29/09)
- A Nation Haggles on the Way to the Gallows … News and Links for Wednesday (06/24/09)
- News for Wednesday (07/22/09)
- Wednesday News Roundup (04/29/09)
- Wednesday Charts: Is This Dollar Rally for Real? (08/26/09)
{ 2 comments… read them below or add one }
Is gas headed for $3/gallon? Are you kidding? It’s already $3/gal and more for premium and at the higher priced major brand service stations in N. California now, today!
From the chart you referred us to on the price of fuel taken from the records of all US counties, California is fifty or sixty cents a gallon higher than some other states. And when you look at some of the other states where gas prices are much lower, you see they have no “native” crude supply, such as California has. There are quite a few oil wells in California and even some offshore, in the Santa Barbara channel. How does this California price compute using rational thinking? I think it doesn’t, just as California’s politicians, who have driven the state $42 billion into the red ink. (That’s the official figure, the one they admit to. Who knows how much more the state’s debt might actually be?)
And, continued energy price hikes will surely have a negative effect on the economy, whether most of the energy price hikes are driven by speculation, higher energy consumption, higher taxes, or whatever.
I think Cohen is dreaming or smoking some strong stuff. Or maybe she’s trying to get the public to take some of Goldman Sach’s losers off their hands before the next elevator down.
Cohen is the biggest party line actor of them all .. she’s made her millions … what does she care about? The line should have been ….
Goldman’s Cohen Says Markets Moving “Back Towards a new LOWER Normal”
aAARGGGGHHHHHHHHHH!
BTW, the PE on the S&P … it’s at a 120 now … WTF …I am telling you, get reasy for some carnage in Fall …. relishing to buy some puts ….