Markets continue the retreat as little interest in buying is evident due to the general malaise engulfing trading. After the close, AAPL announced Jobs was taking a leave of absence and ' the cult' immediately barfed on their MacBooks. Certainly the company is more than one guy. At least it should be after the stocks breaks -56% last year and another -8% this year. Either the stuff is good right here on the product and the discount, or it is not. AAPL and other successful companies represent issues not of liquidity, but whether any of the connecting elements which feed from the financial sector back to stocks, are solvent. Either the Fed and Treasury are going to be successful right here in the first quarter or there is going to be an unbelievable drag on prospects for reclaiming any ground. Restoring national wealth will be Herculean task, leaving most unable to recover for a decade.
The reluctance of Congress to grant the second round of TARP is well founded. It is a legitimate question to ask just what has all this liquidity done. And if it has done nothing but stabilize several financial corporate institutions while the rest of the nations jobs and wealth tanks, the money should just be returned.
Winning this battle is having a plan that the geniuses in Washington and Wall Street have demonstrated is worth their over compensation. This is all about delivering financial conditions transparent enough where markets can develop trading strategies competing to take risk rather than competing to liquidate.
