Investment Markets Overview – w/e 18 Oct 2013

Kicking the can down the road” is an expression used in political terms to put off solving a particular problem until later. This was certainly the case this week after the endless political brinkmanship over a possible US debt default. A deal was reached when House Republicans dropped efforts to use the legislation to force changes in Obamacare, aka, “The Affordable Care Bill,” and President Obama quickly signed the spending measure which now sets a December 13th deadline for completing the budget talks and funds the government operations until the 15th January 2014, whilst suspending the debt ceiling until the 7th February. Americans now face the prospects of another bitter budget fight and a further government shutdown early next year, whilst the Republican party faces continued infighting between the various factions and in particular the “tea-party.” Of the myriad of comments following the myriad of media coverage, perhaps the following from the UK’s BBC website, sums it up:-

I don’t see how you can blame this fully on the tea party. It wasn’t the tea party that has kept racking up debts like there’s no tomorrow, it wasn’t the tea party who bailed out failing banks with taxpayers money. It isn’t unreasonable for US politicians and taxpayers to question the appropriateness of huge spending. I just wish it would happen here in the UK from time to time.”

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

  • US economic data . . .

  • Euro-Zone   . . .

  • The UK . . .

  • Out East   . . .

  • The $US index  . . .

  • Within the commodities complex  . . .

  • Economic data due next week includes  . . .

  • The ghost of Bernie Madoff appeared this week, as five former employees stood trial for allegedly aiding his Ponzi scheme  . . .
     

  • Charts:-
    1. Indices Weekly
    2. Poll Results – Congress
    3. UK Av’ge 3 mth Earnings vs UK 3 Mth Unemployment Rate
    4. Tokyo Condo Sales Y on Y
    5. Commodity 1 Week Moves
  • Table:-

 

13 Indices, 11 columns of detailed information, for accurate analysis

The Securities and Exchange Commission “looks terrible in this thing,” the “whole government is a Ponzi scheme.”

……Bernard Madoff, NYT magazine 2/2011

     

   Due to travel commitments next week, the next week-ending will be for the 1st November 2013

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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