OK, the title is a stretch as the real topic is what is already baked into the cake in this market.
On the Facebook page, we had a brief discussion about money printing. Everyone "knows" the market will rally when Ben and his gaggle of international money printers get busy again. I contended that it is already baked into the market and that is why the Dow "only" fell 275 last Friday.
What really is baked into the market? Greek default? Spanish default? Germany throwing in the towel and leaving the euro first? How about Morgan Stanley going down? or Facebook leading the end of the social media phenomenon?
I think gold's rally was only part in response to possible money printing. Perhaps they are baking safe haven status back into the yellow metal.
It would be fun to ponder all the things the markets can cook if it were not so sad what is happening out there.
And now, to explain the title of this blog.
Way back when, it was Dan Akroyd playing chef Julia Child on Saturday Night Live in a rather (fake) bloody scene extolling the viewer to "save the liver." I thought baked in the cake, then chef, then save the liver. What do you want from a free blog?