Catching Up

Still not feeling 100% but I am back in the office slowly catching up. The market story continues to be in Europe. Today the market looked it was set to test the 805 area in the S&P after Europe and European currencies fell apart but the European currencies stabalized, the dollar weakened, and the market was able to pull back from the edge.

The bad bank depending how it is implemented may be a good idea or a bad idea but what is for sure a bad idea is the way the government is handling it. All these false starts and leaks and now it is off and now it is back on continues to erode confidence. The government should stop and work on things a couple of months and try to get an actual plan (something we haven't had) but it shouldn't do it by saying we figured it out oh no we haven't.

Interesting wrietup over at naked capitalism on Japan. I have been wondering how long the Yen can continue to appreciate against everyone else. The economic numbers coming out of Japan are among the worst in the world.

http://www.nakedcapitalism.com/2009/02/japan-on-edge-of-abyss.html