Paulson throws the markets a curve…  Goldman says to buy the yen…  RBA intervenes to protect the AUD$…
China provides support to commodities… And Now… Today’s Pfennig!

The winner is… Deflation!  Trading theme in place…  RBA cuts rates 75 BPS!  Manufacturing collapses! And Now… Today’s Pfennig!

You know it’s a real financial crisis when capitalists are being told what to do by a bunch of socialists and communists. But these are the times we live in. Ironic and moronic.

Zzzzzzzzzzzzzzz. Today’s market action offers us a simple lesson: markets better than governments.

Good morning Australia. It’s another triple digit mid-day decline on the Dow. Is this the Obama Rally?

There’s been a return to risk aversion overnight, as some news from the United Kingdom has reignited the fears that the banks may still be sitting on a ton of bad debt… Of course, as Pfennig readers, you already know this…

Tanned, rested, and ready from a week of hiking in the Rocky Mountains, your editor is happy to report that good Mexican food is still cheap in America and prices are still rising in Australia. But did we miss something while we were away?

Yesterday, I left you with the thought that the London traders had been buying dollars since they arrived back from their three-day Holiday weekend. The U.S. traders did the same… And I believe profit taking was the order of the day.

The dollar is a bit softer this morning going into the Jobs Jamboree, and rightly so, given the forecast. However, the dollar is still swinging a mighty hammer and I’m a bit perplexed by this.

Different week, same three “Fs”. Food, fuel, and finance. We mentioned a few weeks ago that these three investment themes intersect, interconnect, and generally get all tangled up. Expect more tangling this week. Let’s try to untangle them a bit for you today.