O TYM ODCINKU
Dodge O Dorland, Chairman and Chief Investment Officer of Landor & Fuest Capital Managers, New York talked about the likelihood of QE2 and a half or QE Lite. Politics calls for avoiding the hard financial decisions until after the next Presidential elections. If the Fed Reserve were to intervene again, the stock market may rally in the short term, but chances are losses if no improvement in the long term ie six to nine months.
In Greece, with regards to Opposition parties rejecting the PM's latest austerity package, market is already anticipating some kind of restructuring.
Europe should make Greece restructure it debt, and swiftly. ECB is adamantly opposed to restructuring and would need more capital to absorb the blow.
On when the sun will rise again in Japan, it will take 18 months to determine the bill and start addressing what needs to be done longer term. Fitch cut its oulook on Japan's sovereign debt rating late last week.
He also told us his expectations for economic data coming out this shortened trading week, and how investors should handle this soft patch in the markets.
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