Thursday, February 4, 2010
Okay, No one who checks this blog regularly should have been surprised by today's big dow drop.. For eff's sake we had Saturn Square Pluto on Sunday, on the last day of the summit in DAVOS where if you don't know all the money bigwigs either smiled to each other in hotels or avoided each other in elevators, some lied to each other and others whispered little truths to each other but all in all...they put their seats back in their private jets on their way home and said, "holy, moley, we're 'effed". Oh, yeah and the PIIGS (Portugal, Ireland, Italy, Greece and Spain) are about one minute from going belly up--especially Greece. All of that sat like fried swiss cheese in the guts of our BigWig Money guys, who arrived home talked to their fellow executives on Monday and Tuesday and then screamed, FIRE!
The Euro began to crash and Dollar went up. But----if the dollar is so strong why did the stock market go down? Oh, yeah, that's that thing we all have, if we're lucky, between 9am and 6pm---- jobs. But the deal is, the job report is coming out tomorrow and it is not looking good.
And in the middle of this mess, Gold which has been building steadily since summer had a huge correction and went down 49 dollars.
I do not have MBA on any certificate in my house but as long as Saturn and Pluto continue to dig into each other we are all finding our bottom line. Both planets are deadly serious, neither like frivolity and when it involves Libra and Capricorn our relationship with money is number one ---and any fissures and cracks will be found out. Greece appears to go belly up, Euro goes down. I have said many times that currencies are under assault (blame sovereign debt) and while the dollar today looks good we are still faced with the overall problem that all the countries have too much debt and at some point everyone is going to have to raise their hand and say, "uncle." And perhaps we will see one huge reboot as each country says, "I'll forgive your debt, if you forgive ours." If that happens, prepare to feel pain, especially if you see yourself as middle class.
Remember we have got the cardinal cross building all year so everything is on the table in terms of governments, money, infrastructure, and currencies. They are all in play. Especially since Pluto is key planet. Of course, a lot of this will be hidden from us but if you keep your antenna up high, you should not be surprised.