Posts Tagged ‘saved world’

Orwellian Madness “Bernanke Saved The World”

Orwellian Madness "Bernanke Saved The World"

Courtesy of Mish

The MarketWatch Headline Bernanke: We Saved The World is the height of Orwellian madness.

Bernanke: We save world

Please consider the "full story" We saved the world from disaster, Fed’s Bernanke says.

In a speech at the Kansas City Fed’s annual retreat in Jackson Hole, Wyo., Bernanke summarized a hellish year and explained modestly how he and his central bank colleagues saved the world from a bigger disaster.

"The world has been through the most severe financial crisis since the Great Depression," he said. "As severe as the economic impact has been, however, the outcome could have been decidedly worse."

If the Fed, other central banks and other government leaders hadn’t acted in a coordinated and aggressive way in September and October of 2008, "the resulting global downturn could have been extraordinarily deep and protracted," Bernanke said.

The policy response "averted the imminent collapse of the global financial system, an outcome that seemed all too possible to the finance ministers and central bankers."

Reflections on a Year of Crisis

To be fair to Bernanke, he never directly claimed to have "Saved The World". That is a trumped-up headline by MarketWatch.

Here is the key snip from his Jackson Hole speech Reflections on a Year of Crisis.

Since we last met here, the world has been through the most severe financial crisis since the Great Depression. The crisis in turn sparked a deep global recession, from which we are only now beginning to emerge.

As severe as the economic impact has been, however, the outcome could have been decidedly worse. Unlike in the 1930s, when policy was largely passive and political divisions made international economic and financial cooperation difficult, during the past year monetary, fiscal, and financial policies around the world have been aggressive and complementary. Without these speedy and forceful actions, last October’s panic would likely have continued to intensify, more major financial firms would have failed, and the entire global financial system would have been at serious risk. We cannot know for sure what the economic effects of these events would have been, but what we know about the effects of financial crises suggests that the resulting global downturn could have been extraordinarily deep and protracted.

Although we have avoided the worst, difficult challenges still lie ahead. We must work together


continue reading


Tags: , , ,




 
 
 

Zero Hedge

The Best And Worst Performing Assets In April

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Following what was one of the most volatile Q1’s on record, Q2 kick started the second quarter on a positive note in April. According to DB (whose stock has failed to meaningfully rebound from recent lows) while performance didn’t quite match those lofty gains made in March, in the face of a number of key central bank meetings and also the commencement of earnings season in the US and Europe – for which expectations were low – risk assets in particular have shown a reasonable degree of resilience on the whole.

According to DB's Jim Reid, traders would be hard pressed to ...



more from Tyler

Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Here's your full preview of a big week for the US economy (Business Insider)

Friday's 0.5% decline in the S&P 500 wasn't enough to drop it into negative territory for April. The benchmark average finished the month up 0.3% at 2065.30 as it recorded its third straight monthly gain. Despite its three-month winning streak, the S&P 500 has gone nowhere since the start of 2015.

The World Needs More U.S. Government Debt (Bloomberg View)

Are government-imposed restrictions holding back the U.S. economy? In a way, yes: The federal government...



more from Paul

Phil's Favorites

"Nightmare" Mistake: Visa Free Travel for 80 Million Turks Coming Up

Courtesy of Mish.

Of all the inane, self-serving, deals German Chancellor Angela Merkel made with Turkey, visa-free travel for 80 million Islamic Turks tops the list.

“This is all a nightmare,” said one diplomat charged with making the deal work.

Nightmares aside, Brussels Prepares Legal Groundwork on Visa-Free Travel for Turks.

Brussels will this week propose visa-free travel to Europe for 80m Turks but says Ankara still needs to meet several politically explosive reform conditions within weeks, including overhauling its terrorism laws and party funding rules.

The enhanced travel rights were Turkey’s main windfall from a landmark EU...



more from Ilene

ValueWalk

60 minutes Profiles Fintech

By Jacob Wolinsky. Originally published at ValueWalk.

60 Minutes profiled Fintech tonight specifically payment app Venmo (which is under FTC investigation for “deceptive or unfair practices” according to a recent report CNN Money)- is this a sign of the top? Judge for yourself

60 Minutes video on Fintech

60 minutes selected excer...



more from ValueWalk

All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David

Chart School

First Majastic Silver Wyckoff Friendly

Courtesy of Read the Ticker.

Sometimes is just works! Wyckoff logic is excellent when all the evidence supports your view.

The traditional Wyckoff logic traders will see the Wyckoff accumulation in this stock. Notice the NetVolume divergence with price, very telling. Point and Figure chart showing off an excellent 'CAUSE', that exploded into a fantastic 'EFFECT'. Some times winning is just too easy!


Click for popup. Clear your browser cache if image is not showing.



PnF Chart, love the 'CAUSE' that was the base for the 'EFFECT'

Click for popup. Clear your browser cache if image is not showing.



NOTE: readthe...

more from Chart School

Kimble Charting Solutions

Nasdaq 100- Potentially Very Dangerous Pattern!

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

This chart looks at the Nasdaq 100 index over the past 10-years.

A potential “Head & Shoulders” (H&S) topping pattern could be in play, highlighted in red.

Even if this is NOT an H&S topping pattern, the following situation has me watching Tech very closely; the index broke 5-year rising support line (A) last fall and the rally over the past couple of months has it kissing the underside of lines (A) and (B) at (1).

The NDX “Kissed” the underside of dual resistance of late and has turn...



more from Kimble C.S.

Biotech

PRGO, VRX and an Overpriced Papa

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

By Ilene 

Remember this? It was Monday. PRGO is down from around $130 to under $100 since I started following it LAST WEEK. That's down almost 25% in a week, and almost 50% in the last year. So I wrote, 

"Perrigo CEO Joseph Papa leaves Perrigo (PRGO) to lead Valeant (VRX) while PRGO issues a warning about missing earnings expectations. Not surprisingly, PRGO stock plummeted today. 

Robert Ingram, Chairman of the [Valeant] Board, stated, "The Board has conducted a thorough search process and believes that Joe is the ideal leader for Valeant at this time. He has a strong shareholder orientation,...



more from Biotech

OpTrader

Swing trading portfolio - week of April 25th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

Digital Currencies

Is Bitcoin About To Soar?

Courtesy of ZeroHedge. View original post here.

Back on September 2, 2015 when bitcoin was trading at $230, we laid out the simplest and most fundamental reason why, irrelevant of one's ideological persuasion with "alternative" or digital currency - bitcoin would soar.

it was earlier this summer when the digital currency, which can bypass capital controls and national borders with the click of a button, surged on Grexit concerns and fears a Drachma return would crush the savings of an entire nation. Since then, BTC has dropped (in no small part as a result of the ...



more from Bitcoin

Mapping The Market

About that debate last night

Although we try to stay focused on finding and managing promising trade ideas, the comments in the comment section sometimes take a political turn (for access, try PSW — click here!). So today, Jean Luc writes,

The GOP debate last night was just unreal – are these people running to be president of the US or to lead a college fraternity! Comparing tool size? The only guy that looks semi-sane is Kasich. The other guys are just like 3 jackals right now. 

And something else – if Trump is the candidate, that little Romney speech yesterday is probably already being made into a commercial. And all these little snippets from the debate will also make some nice ads! If you are a conservative, you have to be scared now. 

Phil writes back,

I was expecting them to start throwing poop at each other &n...



more from M.T.M.

Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



more from Promotions

Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




FeedTheBull - Top Stock market and Finance Sites



About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>