Friday, September 10, 2010

I knew it!

I have been writing in Quick Takes Pro that all of the econonomic indicators we anziously await each day have turned into noise.  Here is an excerpt from a free Birinyi Associate report:

"Over the last eight years the number of indicators deemed to be "important" has doubled from roughly forty-eight per month to now over one hundred."

But wait! There's more! (Oh Billy Mays!)

"Additionally, these examples are only the ones that pertain to the US economy; today's market moves because of reports ranging from Chinese GDP to expected German exports to Greek debt."

Just this week the markets rocked and rolled over a Portuguese bond sale.  It is a good thing I look at charts instead of following Ben Bernanke around to report on the size of his briefcase and color of his tie.

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