Investment Markets Overview – w/e 31 Aug 2012

Central Bankers and their “entourage” held their annual shindig at Jackson Hole, Wyoming, at week’s end, with investors’ the world over absorbing every “pearl of wisdom” emanating from Ben Bernanke’s lips. Well, the main comment from his speech was as follows (bold entered for emphasis,) “Over the past five years, the Federal Reserve has acted to support economic growth and foster job creation, and it is important to achieve further progress, particularly in the labor market. Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” and for anyone who thought that these words sounded familiar, they were. His 2010 Jackson Hole speech was more or less word for word as now and still this man cannot admit that, “neither growth nor jobs,” have resulted to any reasonable degree from his policies, albeit that now, like his Bank of England counterpart, he is claiming credit for the rise in the stock market over the intervening two years. Yet, try as we might, we cannot find anywhere any mandate given to the Fed by Congress to target the stock market.

Subscribe to the Full Investment Markets Overview Newsletter which contains the following additional content:-

  • US economic statistics this week included . . . .
  • Euro-Zone data included  . . . .
  • UK news included a widening of government borrowing  . . .
  • Out East, Japanese retail sales  . . .
  • Industrial production in July for Singapore . . .
  • The $US index fell by . . . 
  • Within the commodities complex, . . .
  • Economic data due next week includes . . .
  • Of late we have commented on . . . the Federal Reserve and other central banks . . .

    Charts:-

    1. Indices Weekly
    2. US Consumer confidence vs US Personal Spending
    3. UK Average House Price vs UK Mortgage Approvals
    4. HK M3 Money Supply vs HK Retail Sales
    5. How Income tax burden is shared

Table of 15 Indices, 11 columns of detailed information, for accurate analysis

“Politics is so often the art of ignorance”

Click  HERE  to view Details of the full version of this Newsletter

which includes full text and detailed Charts for each section

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