Traderbill's Financial Markets Weblog

Bloomberg Quote of the Day: “Knowledge is power.” – Sir Francis Bacon – but TB says ignorance is politics as usual.

…and the winner is…THE GOP!!! Accepting the award are those millionaires who will pay no additional taxes on incomes over $1 million. Those benefitting…although part of the losing U.S. taxpayers (and the teabaggers if they are unable to think this out), are those unemployed who would have lost their benefits to the GOP Grinch. President Obama barely chided the GOP merely saying that the compromise had to be done in order to not hold those in need hostage to a prolonged political battle.

But the losers…those who worked on the deficit reduction committee…what a waste of time…when we are so obsessed with not taxing the wealthiest who will now continue to reap the benefits of the Bush tax cuts while the budget deficit explodes. Way to go!!!

But the real losers are the future generations who will have to suffer for this…it isn’t a bottomless cup of coffee you know and if nobody wants to pay…especially those who can well afford it…then there is no hope for saving us from ourselves or the dollar for that matter…oh well, at least the wealthy will be able to afford to go to Europe.

Now TB sees what happened…why the tepid reaction to the horrific payrolls report last Friday and again yesterday…the fix was in…and overnight stock futures are jumping. Merry Christmas! Oh, by the way yesterday’s NYSE volume was 803 million shares down from the weak 900 million of Friday…today’s should be an above-average day at least. There were however, another 627 new 52 week highs…with just 45 new lows, while both advance declines and Breadth were about even on the NYSE and +1.4x on the Nasdaq. TB was wrong…there he said it…but for the right reasons…there is nothing to cheer about in Mudville…

Going to go back to thinking again rather than writing for awhile so that’s it for today.

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Have a terrific day,

TB

Trader Bill thinks it is clear to anyone reading these missives that they are merely commentaries...as he sees it...and do not necessarily reflect the views of anyone other than his own. Information is gathered from sources he has found reliable, but no guarantees of accuracy are implied. These are merely observations of events in the marketplace offering in an attempt to offer a non-mainstream viewpoint. Copyright TBD Capital LLC, December 7, 2010.