Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

yankee...

I dunno - it by definition would be nothing more than guessing and speculation. My best guess remains that JPM and C (and possibly GS) are in deep trouble and the list could be longer than just those, including perhaps MER, FNM, and BAC. Almost certainly Argentina and Brazil are involved, but possibly Japan and/or Germany also. No way to know, so not a lot of sense to sit around guessing. All we can do is to wait and see what happens, and to be ready for bad news, should it come.

Whatever the reasons, it is clear to me that in no way can today's cut be seen as anything but a big warning flag for the market and the economy. You can forget the little message they released saying that with the cut, they now see things as neutral - pure jawboning there. It also puts more into perspective the playing around with the numbers that has been so evident in their recent reports. I am totally convinced that things are worse than they are telling us.

mlsoft