Aug 1, 2012
The Mercenary Geologist and I got together for our monthly review of the markets. There was lots of action, but what a difference a day makes. But the important issues of the day far eclipsed the market wrap-up. The Fed basically said nothing, other than they are very concerned about the poor state of the economy and will do what needs to be done, can anyone say money printing? Oh and by the way, the US Postal Service is broke, insolvent and bankrupt. They're going to miss a $5.5 billion payment towards retiree health benefits that they would like to do away with anyway. There was another major flash crash that took place at major market maker Knights operation. But never fear, the SEC is on the case and heads are not gonna roll.
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