In a previous article I began delving into the toxic sewer that is the Spanish banking system. At the root of the problem is the previously unregulated Spanish cajas or regional/ local banks which own as much as 56% of all Spanish mortgages.
To give you an idea of how bad things are with the cajas, consider that in February 2011 the Spanish Government implemented legislation demanding all Spanish banks have equity equal to 8% of their “risk-weighted assets.” Those banks that failed
Monday, April 30, 2012
As Europe's Most Pathological Liar Departs, Questions About Europe's Band-Aid Union Reemerge
We doubt many tears will be shed over the now official departure of Europe's most embarrassing political figurehead: the head of the Euro-area finance ministers, one Jean-Claude Juncker, whose presence did more documented damage to the credibility of Europe than... well, we would say virtually anyone else, but then again since everyone else in the European pantheon is a shining example of DSM IV-level sociopathology, we are kinda stuck. But anyway: Juncker is finally gone "he’s tired of
Bin Laden: Everyone Is Missing the Big Picture
Painting by Anthony Freda: www.AnthonyFreda.com
Obama and Romney Are Both Ignoring the Real Issue with Killing Bin Laden
The anniversary of Bin Laden's death is big news.
Obama is bragging about how he whacked Bin Laden, accusing Romney of being too soft to take out bad guys.
Romney supporters accuse Obama of "spiking the football" and inappropriately showing off to score political points.
Both sides are missing the big picture. Specifically, we noted last year:
I’m as happy as
Obama and Romney Are Both Ignoring the Real Issue with Killing Bin Laden
The anniversary of Bin Laden's death is big news.
Obama is bragging about how he whacked Bin Laden, accusing Romney of being too soft to take out bad guys.
Romney supporters accuse Obama of "spiking the football" and inappropriately showing off to score political points.
Both sides are missing the big picture. Specifically, we noted last year:
I’m as happy as
Biderman On The Fed: "They Control The Market, We Play With Their Money"
The pastel-wearing President of TrimTabs proffers an entirely non-perfunctory prose explaining why he believes we are now due for a stock market decline. Echoing our thoughts, Charles notes that "It's the Federal Reserve that controls the market, it's their money, they're the boss, we play with their money that they print or stop printing". Sadly true (especially for all the highly-paid economists and strategists out there), the pre-2009 drivers of equity performance (specifically new or
China Manufacturing Continues To 'Contract-And-Expand' Even As April PMI Misses Expectations
The topsy-turvy world of Chinese macroeconomic data continues to provide the Schrodinger-prone unreality that we have come to expect in this keep-'em-guessing Central Bank-driven fiat-fest we are experiencing. For 9 of the last 10 months, HSBC's China Manufacturing PMI has been in a contraction (sub-50) regime, while China's own Manufacturing PMI saw only 1 dip below the apocryphal 50-level (in Nov11) and has miraculously expanded for the last six months. The latest data from China (HSBC
The Decline And Fall Of Suburbia
As Arch Daily notes, for decades the suburbs and the American Dream went hand-in-hand but the age-of-sprawl is ending; people are leaving the suburbs and once again flocking to cities in search of a better way of life. Whether Suburbia can be saved or not, this useful infographic looks at the key factors (from Poverty to Transportation costs to Generation Y's preferences) with a view to reinventing Suburbia as a sustainable alternative to urban life.
(h/t Greg Fielding)
See the
(h/t Greg Fielding)
See the
Gerald Celente - This Week in Money - 30 Apr 2012
http://www.youtube.com/v/_VyA_10tV34?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - This Week in Money - 30 Apr
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - This Week in Money - 30 Apr
Treasuries And Gold Outperform As Financials Drag Stocks Down In April
April ended on a weak tone (after another set of weak macro data) with a day of risk-asset deterioration amid low ranges and low volumes as the S&P 500 broke its 4-day rally streak. AAPL was a standout having given back over 60% of its post-earnings spike and nearing a break below its 50DMA once again. HY credit outperformed with an afternoon surge (in HYG also) taking it back into the green for the month - even as the S&P 500 remains marginally off March's close and underperformed along
Treasury Forecasts $447 Billion In Funding Needs Thru End Of September - $300 Billion Shy Of Trendline
Earlier today, the Treasury forecast that in the third and fourth fiscal quarter of 2012 (April-September), the US would need a total of $447 billion in new debt (split $182 billion in Q3 and $265 billion in Q4), bringing the total debt balance to just over $16 trillion by the end of September. While this is a commendable forecast, and one which certainly has provided to alleviate rumors that the US debt ceiling of $16.4 trillion would be breached by the mid/end of September, the chart
Paul Vs Paul Post-Mortem
By way of post-mortem of this afternoon's epic Paul vs Paul cage-match, we reflect on the various headlines the two gentlemen made during the event and in the context of the credibility with which one of the gentlemen discusses his ability to manage the world and the 'ease' with which he and his henchmen can control inflation (and that an unmanaged economy is subject to 'extreme volatility'), we remind readers of the post-WWII years and the extreme swings in purchasing power that their
Today's $1.24 Billion Targeted Gold Slam Down Makes The Mainstream Press
For the first time in what may be ages, a phenomenon that has become near and dear to anyone who trades gold, and which at best elicits a casual smirk from those who observe it several times daily, we find that the WSJ has finally picked up on the topic of the endless daily gold slam down, where the seller in complete disregard for market disruption (because in a normal world one wants to sell any given lot without notifying the market that one is selling so as to get a good price on the
Dallas Fed Plunges Negative. Biggest Miss In 10 Months
While the Dallas Fed Manufacturing Index tends to be a little less of a headline-maker than many of its macro-data peers, today's dismal report is worth paying attention to. The index turned negative for the first time this year, dropped to its lowest level in 7 months and missed expectations by the largest amount in 10 months. The drop from +10.8 to -3.4 is also the largest sequential drop in 11 months. Only the inventories sub-index rose (hardly a bright spot) as Production, Number of
Equity Valuation: It's All Downhill From Here
While in 'normal' times the commonly held view is that P/E ratios tend to fall as real interest rates rise, as we recently pointed out here, the relationship is highly non-linear and nowhere is this regime-dependence more evident than in the following chart from Morgan Stanley. Empirically, the current interest-rate regime (the 2-3% 10Y) is as good as it gets and whether rates rise or fall from here, equity valuations are likely to drop. The market rarely trades at the average multiple,
Quantifying The Big Five Canadian Banks' $114 Billion Bailout
“…we have not had to put any taxpayers’ money into our financial system in Canada, nor do I anticipate that we’ll be obliged to do so.”
—Jim Flaherty, Minister of Finance
“Without wanting to appear arrogant or vain, which would be quite un-Canadian... while our system is not perfect, it has worked during this difficult time, I don’t want the government to be in the banking business in Canada.”
—Jim Flaherty, Minister of Finance
“It is true, we have the only banks in
—Jim Flaherty, Minister of Finance
“Without wanting to appear arrogant or vain, which would be quite un-Canadian... while our system is not perfect, it has worked during this difficult time, I don’t want the government to be in the banking business in Canada.”
—Jim Flaherty, Minister of Finance
“It is true, we have the only banks in
Investor Sentiment: It's All Good, but...
The price action this past week was fabulous as the market found its winning ways on the back of AAPL earnings and a Federal Reserve that remains as compliant as ever. It's all good, and no doubt this can only mean one thing. It's clear sailing ahead. But not so fast. From this perspective the price action looks more like a market top than a launching pad for another bull run. Huh? Yeah, a market top. The lack of bullish signals, where there are more bears than bulls in any time
Guest Post: What Is The Consequence Of Printing Money That Nobody Wants?
Submitted by Tim Price, Director of PFP Wealth Management and Sovereign Man contributor
Guest Post: What Is The Consequence Of Printing Money That Nobody Wants?
In a week that saw Britain slide into its first double-dip recession since 1975, we quite fittingly also saw evidence of the sort of insular bigotry and protectionist narrow-mindedness that one associates with that same ugly, painful decade, when Barry Sheerman, Member of Parliament, said:
"I'm getting increasingly worried about
Guest Post: What Is The Consequence Of Printing Money That Nobody Wants?
In a week that saw Britain slide into its first double-dip recession since 1975, we quite fittingly also saw evidence of the sort of insular bigotry and protectionist narrow-mindedness that one associates with that same ugly, painful decade, when Barry Sheerman, Member of Parliament, said:
"I'm getting increasingly worried about
Is ISDA About To Be Forced To Cave?
Given the TBTF's dominant oligopoly of the credit derivatives market (due mainly to the large exchange's unwillingness to act appropriately when they know the blow-back from their sell-side clients would be considerable), it is perhaps surprising that ISDA (the body that 'regulates' watches over and determines credit events in the CDS market) is coming under increasing pressure to honor the spirit of CDS contract after the FUBAR debacle surrounding the Greek restructuring. As Katy Burne
The Bulging Costs Of America's Obesity Epidemic
A month ago we chronicled what we consider one of the biggest problems for America's long-term viability in "No Country For Thin Men: 75% Of Americans To Be Obese By 2020" which goes straight to the heart of the biggest shortfall in America's balance sheet: the net present value of future spending associated with Medicare and various other healthcare related programs, which will sadly only rise as more and more Americans become morbidly obese, and demand more expensive health service out
The White Knights Coming to Save Us Are Us, Not Ninjas - Chris Duane [Part One]
http://www.youtube.com/v/V8mGkVy1i7k?version=3&f=user_uploads&app=youtube_gdata
Part One: Chris Duane is back for an in-depth conversation about precious metals and the world we live in. We discuss Fulford's Ninjas, David Wilcock, the lawsuit and other stuff - but essentially we agree on this: The only entity coming to save humanity, is an awakened and enlightened humanity - in other words, we need to save ourselves.
Chris' website:
http://dont-tread-on.me/
The content in my
Part One: Chris Duane is back for an in-depth conversation about precious metals and the world we live in. We discuss Fulford's Ninjas, David Wilcock, the lawsuit and other stuff - but essentially we agree on this: The only entity coming to save humanity, is an awakened and enlightened humanity - in other words, we need to save ourselves.
Chris' website:
http://dont-tread-on.me/
The content in my
Survival Prepping & Physical Silver - Chris Duane [Part Two]
http://www.youtube.com/v/MkXUfwQpbjU?version=3&f=user_uploads&app=youtube_gdata
Part Two: Chris Duane is back for an in-depth conversation about precious metals and the world we live in. In this segment we discuss the need for survival prep that includes physical silver, but that is by no means limited to physical silver.
Chris' website:
http://dont-tread-on.me/
The content in my videos and on the SGTbull07 channel are provided for informational purposes only. Use the information
Part Two: Chris Duane is back for an in-depth conversation about precious metals and the world we live in. In this segment we discuss the need for survival prep that includes physical silver, but that is by no means limited to physical silver.
Chris' website:
http://dont-tread-on.me/
The content in my videos and on the SGTbull07 channel are provided for informational purposes only. Use the information
The Next Circle Of Spain's Hell Begins At 5% And Ends At 10%
Three weeks ago we discussed the ultimate-doomsday presentation of the state of Spain which best summarized the macro-concerns facing the nation and its banks. Since then the market, and now the ratings agencies, have fully digested that meal of dysphoric data and pushed Spanish sovereign and bank bond spreads back to levels seen before the LTRO's short-lived munificence transfixed global investors. However, the world moves on and while most are focused directly on yields, spreads,
Spain Officially Double Dips, Joins 10 Other Western Countries In Recession
The good news: Spanish Q1 GDP printed -0.3% on expectations of a -0.4% Q/Q decline. Unfortunately this is hardly encouraging for the nearly 25% of the labor force which is unemployed, and for consumers whose purchasing habits imploded following record plunges in retail sales as observed last week. The bad news: Spain now joins at least 10 other Western countries which have (re) entered a recession. Per DB: "Spain will today likely join a growing list of Western Developed world countries in
ECB Deposits Rise To Most Since Early March
There was a time in late 2011 and early 2012 when people kept track of cash deposited with the ECB with great interest as it showed just where the latent money in the Eurosystem is going, or rather wasn't (and receiving 0.25% from the ECB in exchange for the 1.00% funding cost to borrow LTRO repos from the ECB, an inverse carry trade if you will). Subsequently it was shown that there is at least one liquidity rotation before the money reenters the ECB, as Spanish and Italian banks were
European Money Up, Loans Down; Or Why The LTRO Is Still A Failure
One of the more mythical aspects of the LTRO, at least during its conception, is that the ECB repo operation would facilitate the diffusion of credit and loans to the broader population (and only subsequently was it made clear that the LTRO was there merely to prevent the disorderly insolvency of European banks). Alas, today's liquidity update from Europe shows that absolutely nothing is happening as planned, because even as broader money may have picked up, loans are once again
Previewing This Week's Key Macro Events
Goldman summarizes what to look forward to in the next few days, when once again fundamental will be ignored and all attention will be on the ECB.
The Week ahead will be dominated by global PMI and US labour market data as the two key releases. A few central banks meetings are on schedule, but market consensus suggests clearly that that ECB will not change its policy, while the RBA will likely cut interest rates by 25bp. There are also central bank meetings in Columbia, Thailand and the
The Week ahead will be dominated by global PMI and US labour market data as the two key releases. A few central banks meetings are on schedule, but market consensus suggests clearly that that ECB will not change its policy, while the RBA will likely cut interest rates by 25bp. There are also central bank meetings in Columbia, Thailand and the
Overnight Sentiment: Ambivalent
Another day of ugly news out of Europe, with both macroeconomic and monetary data coming in to confirm that downward slope of the European forward trajectory (not to mention funny: below is a chart of Greek retail sales. Hardly any commentary is necessary). Yet despite some recently gravity in the EURUSD, for the time being the futures are trending flat to slightly down, perfectly ambivalent as to how will ease first as long as someone eases. Will this sustain, or will a disappointing
Frontrunning: April 30
Only the cattle cars are missing: Greece opens detention camp for immigrants as election looms (Reuters)
China really wants that Iran oil - China mulls guarantees for ships carrying Iran oil (Reuters)
U.S. eyes testy China talks, Chen backer expects Chinese decision (Reuters, FT)
Possible arsenic poisoning probed in death of coroner's official (LA Times)
Europe’s Anti-Austerity Calls Mount as Elections Near (Bloomberg)
Law firm Dewey dumps executive; talks with rival end (Reuters)
Greek
China really wants that Iran oil - China mulls guarantees for ships carrying Iran oil (Reuters)
U.S. eyes testy China talks, Chen backer expects Chinese decision (Reuters, FT)
Possible arsenic poisoning probed in death of coroner's official (LA Times)
Europe’s Anti-Austerity Calls Mount as Elections Near (Bloomberg)
Law firm Dewey dumps executive; talks with rival end (Reuters)
Greek
Sunday, April 29, 2012
The Market Equilibrium Puzzle
This Friday we were treated to another Stupid Market Trick. The first-look US GDP number was announced, and at 2.2% was much weaker than the consensus of 2.5%, but after a brief sell-off the market rallied. The gains were not huge. The S&P rose a small 0.24%, and the Dow even less with a 0.18% gain, but the Nasdaq advanced by 0.61%--not bad for an economy that falls well short of expectations. The composition of the number wasn't any better than it seemed--in fact, the bear-tilting
Europe's "Dead Bank Walking" List And An ETA Until The Next Contagion Peak
In yet another 2011 déjà vu moment, Europe’s bank funding window is slamming shut again (the catalyst that brought the 2011 Euro crisis vintage to its heights). Nowhere is this more evident than when comparing monthly debt issuance in the first 4 months of 2012 to the previous two years. Sadly, even despite taking place while the LTRO effect was front and center, Europe still was unable to match prior year debt. Fine, the skeptics will say, this simply means that there is less debt
“A Trillion Here, A Trillion There...” – Why 90% Of The European Bank Sector’s Market Cap Is Vaporware*
Two weeks ago the BIS released the Basel Quantitative Impact Survey, "Results of the Basel, III monitoring exercise as of June 2011" which contained several very scary numbers that were noted in Zero Hedge yet which barely received any mention in the broader press. Because the numbers were all very, very large (think eyes glazing over 11-12 digits large), and because their existence meant that the long-term, chronic pain for Europe, which is and has been one of public (and selected
News.nl
Satudarah is expanding to Antwerp and Duisberg as 20 of its clubhouses are in the process of being shut down in the Netherlands. They are reportedly strengthening ties with the Outlaws and Bandidos.
http://www.nrc.nl/nieuws/2012/04/29/omstreden-motorclub-satudarah-krijgt-afdeling-in-antwerpen/
Monday is Queen's Day. Hundreds of hacker sites were taken offline Wednesday when a site introduced a "Hang the Queen theme night" with a picture of the Queen with a rope around her neck. Leaseweb
http://www.nrc.nl/nieuws/2012/04/29/omstreden-motorclub-satudarah-krijgt-afdeling-in-antwerpen/
Monday is Queen's Day. Hundreds of hacker sites were taken offline Wednesday when a site introduced a "Hang the Queen theme night" with a picture of the Queen with a rope around her neck. Leaseweb
The View From The Bridge Over The Rotten Boroughs of Europe
Submitted by Clive Hale from View from the Bridge
The Rotten Boroughs Of Europe
Once upon a time when Nigel Farage got up to speak you often wondered whether he was the full ticket, but today when he gives the European parliament the benefit of his opinion he is the only one making any sense and that includes most of our other politicos back home. Instead of planning to get out of the EU madhouse we have confirmed that £10 billion of our money, yours and mine, has been re-pledged
The Rotten Boroughs Of Europe
Once upon a time when Nigel Farage got up to speak you often wondered whether he was the full ticket, but today when he gives the European parliament the benefit of his opinion he is the only one making any sense and that includes most of our other politicos back home. Instead of planning to get out of the EU madhouse we have confirmed that £10 billion of our money, yours and mine, has been re-pledged
Gerald Celente -- Ian Henschke ABC Australia - 26 April 2012
http://www.youtube.com/v/ORgUVe8O8Ik?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente -- Ian Henschke ABC Australia - 26 April
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente -- Ian Henschke ABC Australia - 26 April
Saturday, April 28, 2012
Gerald Celente : The Great Depression All Over Again
http://www.youtube.com/v/l5h4VHh39Gs?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
Gerald Celente - Outside The Box with Mitch Henck - 24 April 2012
See the original video here:
Gerald Celente : The Great Depression All Over
Go to http://geraldcelentechannel.blogspot.com for more
Gerald Celente - Outside The Box with Mitch Henck - 24 April 2012
See the original video here:
Gerald Celente : The Great Depression All Over
Current Gold Demand Completely Unsustainable Without Sharply Higher Prices: Eric Sprott and David Franklin
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 28, 2012 3:46pm GMT
Email
Print
It was a very quiet day both price and volume wise in gold on Planet Earth yesterday. The gold price didn't do much through all of Far East and London trading...and the tiny rally that gold had, didn't begin until 8:30 a.m. in Comex trading in New York.Over the next hour, the gold price ran up
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 28, 2012 3:46pm GMT
It was a very quiet day both price and volume wise in gold on Planet Earth yesterday. The gold price didn't do much through all of Far East and London trading...and the tiny rally that gold had, didn't begin until 8:30 a.m. in Comex trading in New York.Over the next hour, the gold price ran up
Friday, April 27, 2012
Michael Krieger On The Rebirth Of Barter
Via Michael Krieger of 'A Lightning War For Liberty' blog,
Justice in the hands of the powerful is merely a governing system like any other. Why call it justice? Let us rather call it injustice, but of a sly effective order, based entirely on cruel knowledge of the resistance of the weak, their capacity for pain, humiliation and misery.- Georges Bernanos(1888-1948)
Outwardly we have a Constitutional government. We have operating within our government and political system, another
Justice in the hands of the powerful is merely a governing system like any other. Why call it justice? Let us rather call it injustice, but of a sly effective order, based entirely on cruel knowledge of the resistance of the weak, their capacity for pain, humiliation and misery.- Georges Bernanos(1888-1948)
Outwardly we have a Constitutional government. We have operating within our government and political system, another
Why The Euro Is So Strong, Or Why The Market Expects $700bn Of Fed QE3
The question puzzling currency markets is why the EUR is so strong. While we have argued that during the risk-off period of the last month or so post-LTRO2 (before Tuesday) EURUSD strength appeared to be driven by repatriation flows and balance sheet reduction, new information over the last couple of weeks driving the expectation that growth will be weak enough in the US to keep US policy very stimulative for a nice long time, we tend to agree with Steven Englander of Citigroup who
Why Is It Necessary For The Federal Government To Turn The United States Into A Prison Camp?
Why Is It Necessary For The Federal Government To Turn The United States Into A Prison Camp?
Courtesy of Michael Snyder of Economic Collapse
There has been no society in the history of the world that has ever been 100% safe. No matter how much money the federal government spends on "homeland security", the truth is that bad things will still happen. Our world is a very dangerous place and it is becoming increasingly unstable. The federal government could turn the entire country into
Courtesy of Michael Snyder of Economic Collapse
There has been no society in the history of the world that has ever been 100% safe. No matter how much money the federal government spends on "homeland security", the truth is that bad things will still happen. Our world is a very dangerous place and it is becoming increasingly unstable. The federal government could turn the entire country into
How Government Should Cheat on the CPI
It's bad enough that the government measures inflation as "core inflation" excluding energy and food, as though we aren't buying those things. But now members of both parties want to save money by switching to another measure of inflation that substitutes the favorite things you buy for inferior products you don't want - because if you switch from steak to hamburger, then the new hamburger at the old price of the steak means NO INFLATION. Your life style may plummet, and your health may
Taxation and confiscation
http://www.youtube.com/v/x5AJLi885tA?version=3&f=user_uploads&app=youtube_gdata
Jim Sinclair says gold could gap up to $3,000 an oz. as the gold shorts are trapped and the link is here http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html . Paper money is a barbarous relic and the link is here http://www.bullionbullscanada.com/gold-commentary/25378-paper-money-the-barbarous-relic . The gold standard
Jim Sinclair says gold could gap up to $3,000 an oz. as the gold shorts are trapped and the link is here http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000.html . Paper money is a barbarous relic and the link is here http://www.bullionbullscanada.com/gold-commentary/25378-paper-money-the-barbarous-relic . The gold standard
THe STiNKeR
Lloyd likes to think he's a thinkerBut muppets all know he's a stinkerHis problems won't passHe's loaded with gasAnd markets know Goldman's a sinker
The Limerick King
See the original article here:
THe
The Limerick King
See the original article here:
THe
Eric Sprott: "When Fundamentals No Longer Apply, Review the Fundamentals"
By Eric Sprott And David Baker of Sprott Asset Management
When Fundamentals No Longer Apply, Review the Fundamentals
This may not come as a surprise, but we're still not seeing it. We're not seeing a US recovery.
Here we are, well into 2012, and the fact remains that the US housing situation is still a bust. There is simply no housing recovery happening in the United States. US New Home Sales fell for the fourth time in a row month-overmonth in March, representing a seasonally-adjusted
When Fundamentals No Longer Apply, Review the Fundamentals
This may not come as a surprise, but we're still not seeing it. We're not seeing a US recovery.
Here we are, well into 2012, and the fact remains that the US housing situation is still a bust. There is simply no housing recovery happening in the United States. US New Home Sales fell for the fourth time in a row month-overmonth in March, representing a seasonally-adjusted
Golden Day As Stocks Slip And Silver Still Leads YTD
When even Pisani is questioning the fundamental-less QE3-addicted rally, it is perhaps self-evident that volumes were lagging today and stocks gave up most of their gains to end fractionally higher in the S&P 500 e-mini futures. Stocks peaked at the open of the US day-session after an overnight ramp that started in the depths of the overnight session (3amET) as auctions and data became so bad that traders adjusted their odds of a central-banker injection which seemed to spur wholesale
Should We Kill The Politicians Before They Kill Us?
Should We Kill The Politicians Before They Kill Us?
“The first thing we do, let's kill all the lawyers.” William Shakespeare, Henry the Sixth
That was four hundred years ago, long before lawyers would come to hold most elected offices. 41% of the current congress are lawyers, six times the rate of the general population. The greatest concentration of lawyers is in Washington, D.C., and that is turning out to be a very bad thing.
This could well be the most sinister article I have ever
“The first thing we do, let's kill all the lawyers.” William Shakespeare, Henry the Sixth
That was four hundred years ago, long before lawyers would come to hold most elected offices. 41% of the current congress are lawyers, six times the rate of the general population. The greatest concentration of lawyers is in Washington, D.C., and that is turning out to be a very bad thing.
This could well be the most sinister article I have ever
Torture Cheerleaders Back In the News Trying to Defend the Indefensible
9 Torture Myths Debunked
The so-called “debate” about whether torture helped to keep us safe is reemerging, as the former chief of CIA clandestine operations Jose Rodriguez is aboutev to publish a book claiming that the use of “enhanced interrogation” practices including water-boarding saved lives.
“We made some al-Qaeda terrorists with American blood on their hands uncomfortable for a few days,” Rodriguez said in an interview with CBS News’ “60 Minutes” that will
The so-called “debate” about whether torture helped to keep us safe is reemerging, as the former chief of CIA clandestine operations Jose Rodriguez is aboutev to publish a book claiming that the use of “enhanced interrogation” practices including water-boarding saved lives.
“We made some al-Qaeda terrorists with American blood on their hands uncomfortable for a few days,” Rodriguez said in an interview with CBS News’ “60 Minutes” that will
Gerald Celente - The Corbett Report 27 Apr 2012
http://www.youtube.com/v/PI3PtbHip6A?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - The Corbett Report 27 Apr
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - The Corbett Report 27 Apr
Frontrunning: April 27
Hollande Says Germany Can’t Make Europe’s Decisions Alone (BBG)
Monti Hits at Eurozone Austerity Push (FT)
Firm that made loans to Chesapeake CEO defends them (Reuters)
Bo Xilai's Son Doesn't Drive a Ferrari. He drives a Porsche (WSJ)
Geithner Urges China to Loosen Hold on Finance System (BBG)
and yet... Son of Bo Xilai Says Father’s Ouster ‘Destroyed My Life’ (BBG)
U.S. growth slows as inventory accumulation wanes (Reuters)
S&P 500 Dividend Payers Climb to Highest in 12 Years
Monti Hits at Eurozone Austerity Push (FT)
Firm that made loans to Chesapeake CEO defends them (Reuters)
Bo Xilai's Son Doesn't Drive a Ferrari. He drives a Porsche (WSJ)
Geithner Urges China to Loosen Hold on Finance System (BBG)
and yet... Son of Bo Xilai Says Father’s Ouster ‘Destroyed My Life’ (BBG)
U.S. growth slows as inventory accumulation wanes (Reuters)
S&P 500 Dividend Payers Climb to Highest in 12 Years
Overnight Sentiment: Zen-like After Initial Revulsion
Futures are unchanged after dropping steeply overnight following the Spanish re-downgrade as the Italian 5/10 year bond auction was bad, but still passed (somehow the lack of the European bond market ending is good news). This is ironic with Europe very much on edge following the release of very disappointing EU data, with German confidence, French consumer spending, Spanish unemployment all worse than estimates. Offsetting all of the negativity to some extent is the gross JPY10 trillion
Previewing Today's Q1 GDP Print
In 45 minutes we will get the first unrevised big picture look of how the US economy did in the record hot weather-boosted first quarter of 2012. Consensus is looking for a +2.5% print, although according to some preliminary analysis, the weather, which simply pulled "demand" forward, may have resulted in an up to 30-40% increase in the baseline print. Whether or not that is the case depends on the flow through Q2 data, which so far has been quite horrible as we showed yesterday, but far
A Realistic Look At The Companies In The CNBC Stock Draft 2012 - Part 1
For those who didn't see the CNBC Streetsigns show yesterday, I have put together a brief (often not so) fundamental overview of the stocks that were available for drafting in during the airing, along with my comments and opinions. Yesterday I released the analysis of Apples Q2 earnings, and I'm sure it contained content that you didn't read anywhere else.
Here’s the list of stocks:
Apple: Reviewed in depth and in detail yesterday. For those who do not subscribe, I suggest you
Here’s the list of stocks:
Apple: Reviewed in depth and in detail yesterday. For those who do not subscribe, I suggest you
YOUR Representatives DON'T Read The Bills They Pass!...and that's how it's been for years
http://www.youtube.com/v/ja1PyP06PkI?version=3&f=user_uploads&app=youtube_gdata
http://www.silver-investor.com.
David Morgan joins Ellis Martin for an impromptu discussion on the boondoggling being done to the American public visa vi obese congressional bills the size of a 20th century Encyclopedia Britannica set and nearly as impossible to read before they get passed. "There oughta be a law" demanding they be read before being passed. Well, evidently there's a petition to
http://www.silver-investor.com.
David Morgan joins Ellis Martin for an impromptu discussion on the boondoggling being done to the American public visa vi obese congressional bills the size of a 20th century Encyclopedia Britannica set and nearly as impossible to read before they get passed. "There oughta be a law" demanding they be read before being passed. Well, evidently there's a petition to
Reuters, Russia Today Interview Gold Standard Prophet John Butler
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 27, 2012 11:12am GMT
Email
Print
The gold price rose gently in Far East trading, reaching a secondary peak around 8:45 a.m. in London. From there it went into an equally gentle decline which came to an end at 12 o'clock noon...also in London...which was 7:00 a.m. in New York.From that low, gold climbed up to its high of the day
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 27, 2012 11:12am GMT
The gold price rose gently in Far East trading, reaching a secondary peak around 8:45 a.m. in London. From there it went into an equally gentle decline which came to an end at 12 o'clock noon...also in London...which was 7:00 a.m. in New York.From that low, gold climbed up to its high of the day
Collapse of the EU a “Realistic Scenario”
Wolf Richter www.testosteronepit.com
“Over the past months, we experienced a worrisome trend towards re-nationalization and ‘summitization,’” said Martin Schulz, President of the European Parliament and member of the German opposition SPD, to a forum of the European Commission on Wednesday. His complaints went to the heart of democracy at the European level. Government leaders were becoming “more arrogant” and made decisions “behind closed doors, in violation of the
“Over the past months, we experienced a worrisome trend towards re-nationalization and ‘summitization,’” said Martin Schulz, President of the European Parliament and member of the German opposition SPD, to a forum of the European Commission on Wednesday. His complaints went to the heart of democracy at the European level. Government leaders were becoming “more arrogant” and made decisions “behind closed doors, in violation of the
Memo To Draghi: We, The People, "Don't Trust You One Inch"
It was early February when we called out Mario Draghi for his blatant lies regarding the stigmatizing effect that the LTRO program would have on European banks. Now, two months later, even the members of the European Parliament are openly questioning their belief in the sociopath ECB chief. After laying out the apparent reasons for the LTRO scheme (at a recent European Parliament hearing) to keep banks well-funded, Godfrey Bloom (MEP) describes the implicit reason - or so-called
Ultimate Irony- Major Life Insurance Firms Settle with State AG’s
Ultimate Irony- Major Life Insurance Firms Settle with State AG’s
Courtesy of Dr. Paul Price (at Real Money)
MetLife, Prudential and John Hancock agreed to pay $40 MM, $17 MM and $12 MM respectively to make a multi-state probe go away.
These companies were routinely cross-checking Social Security death records to prevent recurring annuity benefit payments going out to deceased policy holders. That seems fair and logical. In fact, SS itself has been criticized for wasting huge sums
Courtesy of Dr. Paul Price (at Real Money)
MetLife, Prudential and John Hancock agreed to pay $40 MM, $17 MM and $12 MM respectively to make a multi-state probe go away.
These companies were routinely cross-checking Social Security death records to prevent recurring annuity benefit payments going out to deceased policy holders. That seems fair and logical. In fact, SS itself has been criticized for wasting huge sums
The Battle Lines are Drawn
Preamble:
The problem with my massive borrowing operation is that it relies on whatever I can find wherever I can get it. The best insider stuff I can get comes from ZH and nakedcapitalism, which both don't have a lot I can use in the Dutch context . If I borrow heavily from them in my economic analysis I hope everyone understands.
Another concern is that I keep my anonymity to the best degree possible. So if I catch Woutertje or any other well-connected bobo of this bankrupt
The problem with my massive borrowing operation is that it relies on whatever I can find wherever I can get it. The best insider stuff I can get comes from ZH and nakedcapitalism, which both don't have a lot I can use in the Dutch context . If I borrow heavily from them in my economic analysis I hope everyone understands.
Another concern is that I keep my anonymity to the best degree possible. So if I catch Woutertje or any other well-connected bobo of this bankrupt
BoJ Eases. Einstein Rolls Over In Grave
Update: Well, JPY10 trillion bought about an hour. USDJPY now higher than pre latest QE:
"It won't be long before CPI is back above 1%", we promise, this time - we really mean it - is seemingly how the BoJ defends its decision to follow Einstein's definition of insanity by doing the same thing over and over again expecting a different outcome (Nov 2008 was the last time CPI was above 1% YoY). Admittedly, at some point the ever-increasing BoJ balance-sheet-to-GDP will become too much
"It won't be long before CPI is back above 1%", we promise, this time - we really mean it - is seemingly how the BoJ defends its decision to follow Einstein's definition of insanity by doing the same thing over and over again expecting a different outcome (Nov 2008 was the last time CPI was above 1% YoY). Admittedly, at some point the ever-increasing BoJ balance-sheet-to-GDP will become too much
Thursday, April 26, 2012
Chicago Resource Expo 2012
http://www.youtube.com/v/RBWNPMAoZ88?version=3&f=user_uploads&app=youtube_gdata
Come to the Chicago Resource Expo 2012! It's free to the public. Register at Chicagoresourceexpo.com .
See the original video here:
Chicago Resource Expo
Come to the Chicago Resource Expo 2012! It's free to the public. Register at Chicagoresourceexpo.com .
See the original video here:
Chicago Resource Expo
S&P Cuts Spain to BBB+, Outlook Negative
Adding insult to Bayern Munich injury, we just got S&P which did the impossible and cut Spain to BBB+ from A (outlook negative) not on Friday after hours. Kneejerk reaction is a 30 pip drop in EURUSD. Oh, and most amusing, those witches among men, Egan Jones, downgraded Spain from BBB to BBB-.... a week ago. Crush them, destroy them... How dare they be ahead of the pack as usual: after all their NRSRO application was missing a god damn comma.
Full release:
We believe that the Kingdom of
Full release:
We believe that the Kingdom of
Student Loan Debt Slaves In Perpetuity - A True Story Of "Bankruptcy Hell"
The numeric implications as well as the magnitude of the student loan bubble have been discussed extensively before. Yet just like most people's eyes gloss over when they hear billions, trillions or quadrillions, so seeing the exponential chart of Federal Student debt merely brings up memories of a math lesson from high school, or at best, makes one think of statistics. And as we all know statistics are faceless, nameless and can never apply to anyone else. It is the individual case
Bill Gross On Europe's Dysfunction And US Double-Dips
PIMCO's Bill Gross spent a longer-than-soundbite period discussing QE3, the chance of a US double-dip, and Europe's ongoing dysfunction with Trish Regan on Bloomberg Television this afternoon. Given more than his typically limited-to-ten-second thoughts some other media outlets appear to prefer, the old-new-normal-bond-king believes the Fed will resist another round of quantitative easing in the short-term but "if unemployment begins to rise for two-to-three months then QE3 is back on".
Jim Grant On The Monetary Priesthood's "Atlas Complex"
The bow-tie-and-bespectacled Jim Grant once again takes the centrally-planned 'Office of Unintended Consequence' (aka The Fed) to task in a thoughtful exchange with Capital Account's Lauren Lyster. Reflecting on his recent opportunity to speak directly to various Fed officials, he found one particular question (on the perceived 'mass starvation' that occurred in the brutal earlier Depression beginning in 1920 which ended rapidly without the need for monetary stimulation) most disturbing in
The 49 State Attorney General Mortgage Settlement - A Detailed Analysis of The EPIC SELLOUT of The American People
THE NATIONAL MORTGAGE SELLOUT WEBSITE
AND
OFFICE OF INSPECTOR GENERAL AUDIT SUMMARIES
~
For more info, or to contact Matt, head over to his website here...
www.4closureFraud.org
See the original article here:
The 49 State Attorney General Mortgage Settlement - A Detailed Analysis of The EPIC SELLOUT of The American
AND
OFFICE OF INSPECTOR GENERAL AUDIT SUMMARIES
~
For more info, or to contact Matt, head over to his website here...
www.4closureFraud.org
See the original article here:
The 49 State Attorney General Mortgage Settlement - A Detailed Analysis of The EPIC SELLOUT of The American
President of the EU Parliament: Collapse of the EU is a “Realistic Scenario”
Wolf Richter www.testosteronepit.com
“Over the past months, we experienced a worrisome trend towards re-nationalization and ‘summitization,’” said Martin Schulz, President of the European Parliament and member of the German opposition SPD, to a forum of the European Commission on Wednesday. His complaints went to the heart of democracy at the European level. Government leaders were becoming “more arrogant” and made decisions “behind closed doors, in violation of the
“Over the past months, we experienced a worrisome trend towards re-nationalization and ‘summitization,’” said Martin Schulz, President of the European Parliament and member of the German opposition SPD, to a forum of the European Commission on Wednesday. His complaints went to the heart of democracy at the European level. Government leaders were becoming “more arrogant” and made decisions “behind closed doors, in violation of the
Gold: In a Range of a Range, of a Range - RESET w/ Vince Lanci (FMX Connect)
http://www.youtube.com/v/Uwm162dP70o?version=3&f=user_uploads&app=youtube_gdata
A range-bound gold market and the FED/FOMC meeting are the hot topics on today's episode of "RESET" with Vince Lanci of FMX Connect. Lanci recounts for us the market's reaction to Bernanke's comments, beginning with the sharp sell-off and ending with a basically unchanged market. Lanci believes, however, that there is more money underneath waiting to buy than there is money above waiting to sell; he says
A range-bound gold market and the FED/FOMC meeting are the hot topics on today's episode of "RESET" with Vince Lanci of FMX Connect. Lanci recounts for us the market's reaction to Bernanke's comments, beginning with the sharp sell-off and ending with a basically unchanged market. Lanci believes, however, that there is more money underneath waiting to buy than there is money above waiting to sell; he says
State Officials In Alabama Close Gulf Shrimping After Scientists Find Severe Deformities
After scientists and fishermen have found severe deformities in a substantial percentage of Gulf seafood, the State of Alabama have moved to shut down shrimping.
WERC-FM local news reports:
Some area waters along the Gulf Coast will close to shrimping starting today. The areas closed are all waters in the Mississippi Sound, Mobile Bay, areas of Bon Secour, Wolf Bay, and Little Lagoon. The closure comes after scientists found smaller than average population of shrimp and lesions. They
WERC-FM local news reports:
Some area waters along the Gulf Coast will close to shrimping starting today. The areas closed are all waters in the Mississippi Sound, Mobile Bay, areas of Bon Secour, Wolf Bay, and Little Lagoon. The closure comes after scientists found smaller than average population of shrimp and lesions. They
Market Meltup Meets Non-Farm-Payroll Resistance
Just as we predicted this morning, as soon as Europe FX/Credit markets closed, US equities proceeded to meltup celebrating the claims data 'improvement week-over-week' in this bizarro world we live in. ES (the S&P 500 e-mini future) has broken up and out of its 3-week range to run the stops above the pre-Non-Farm-Payroll close levels from 4/5. Gold has been relatively outperforming today and on a beta-adjusted basis, the S&P has just melted up to meet Gold's enthusiasm. Ahead of tomorrow's
Guest Post: Man Tries To Relinquish US Citizenship. Application Denied
Submitted by Simon Black of Sovereign Man
Man Tries To Relinquish US Citizenship. Application Denied
I was approached recently by a member of our Sovereign Man community who filed the paperwork to relinquish US citizenship some time ago. Long story short, after an incomprehensibly long wait, the US government finally sent him a reply: Application DENIED.
Absolutely shocking. That you even have to ‘apply’ to relinquish what you never signed up for is intellectually insulting.
Man Tries To Relinquish US Citizenship. Application Denied
I was approached recently by a member of our Sovereign Man community who filed the paperwork to relinquish US citizenship some time ago. Long story short, after an incomprehensibly long wait, the US government finally sent him a reply: Application DENIED.
Absolutely shocking. That you even have to ‘apply’ to relinquish what you never signed up for is intellectually insulting.
European Confidence Tumbles To November 2009 Levels, Euro-Wide Double Dip Inevitable
Following this week's ongoing battery of abysmal economic news out of Europe it will hardly come as a surprise that yet another indicator has been released and is pointing to a multi-year low in the deleveraging (elsewhere called incorrectly austere) continent, namely the Euro-area wide confidence index which just slide to the lowest leve since 2009, missing every single estimate and declining sequentially across the board.
Economic confidence 92.8, est. 94.2 (prior 94.4)
Industrial
Economic confidence 92.8, est. 94.2 (prior 94.4)
Industrial
Frontrunning: April 26
Fed Holds Rates Steady, But Outlooks Shift (Hilsenrath)
Has Obama Stacked the Fed? Not Really (Hilsenrath)
High Court Skeptical of Obama’s Use of Power as Campaign Starts (Bloomberg)
Europe Seen Adding Growth Terms to Budget Rules as Focus Shifts (Bloomberg)
China Reaches Out to Its Adversaries Over Rare Earths (WSJ)
Iran Says It May Halt Nuclear Program Over Sanctions (Bloomberg)
Europe Shifts Crisis Focus to Growth as Merkel Backs Draghi Call (Bloomberg)
Merkel Wants Rules for Raw
Has Obama Stacked the Fed? Not Really (Hilsenrath)
High Court Skeptical of Obama’s Use of Power as Campaign Starts (Bloomberg)
Europe Seen Adding Growth Terms to Budget Rules as Focus Shifts (Bloomberg)
China Reaches Out to Its Adversaries Over Rare Earths (WSJ)
Iran Says It May Halt Nuclear Program Over Sanctions (Bloomberg)
Europe Shifts Crisis Focus to Growth as Merkel Backs Draghi Call (Bloomberg)
Merkel Wants Rules for Raw
Overnight Sentiment: Overbought, Underconfident
After rising in the overnight session following the overbought momentum chasing yesterday's hawkish tone by the Fed (don't ask), futures, European stocks, and sovereign spreads took a turn for the worse following the big miss in European confidence and sentiment, all of which posted material declines, and slid to two and a half year lows. And while the traditional upward stock levitation will resume once the European market close is in sight, only one thing can spoil the party and derail
Guest Post: Secretly Serviced
Submitted by Azizonomics
Secretly Serviced
I don’t understand the furore around Obama’s secret service handlers being (ahem) secretly serviced by Colombian hookers.
To writers like myself who specialise in salacious analogies, the incident was a gift. To the rest of the press, who don’t normally get to write about such matters, it was an excuse to shoot off pent-up sexual frustration. So I can understand the press pushing the story just the way Bill Clinton pushes expensive
Secretly Serviced
I don’t understand the furore around Obama’s secret service handlers being (ahem) secretly serviced by Colombian hookers.
To writers like myself who specialise in salacious analogies, the incident was a gift. To the rest of the press, who don’t normally get to write about such matters, it was an excuse to shoot off pent-up sexual frustration. So I can understand the press pushing the story just the way Bill Clinton pushes expensive
Just As Predicted, Initial Claims Miss Huge, Yet Magically Improve
Recall what we said less than an hour ago: "what will most likely happen is a print in the mid to upper 380,000s, while last week's number will be revised to a 390K+ print, allowing the media to once again declare that the number was an improvement week over week. In other words, SSDD." SSDD it is: last week's 386K number was revised to 389K, meaning the massive miss relative to expectations of 370K last week just got even worse. This is the 10th week in a row of misses to the weaker side
Gold Market Riggers Don't Care About Being Caught Anymore: John Embry
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 26, 2012 11:07am GMT
Email
Print
The gold market was on Valium right up until the London open on Wednesday morning, as absolutely nothing was happening either in price or in volume. From there, the price didn't do much, either...but the volume picked up substantially.By 12:30 p.m. in New York yesterday, gold was only down a
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 26, 2012 11:07am GMT
The gold market was on Valium right up until the London open on Wednesday morning, as absolutely nothing was happening either in price or in volume. From there, the price didn't do much, either...but the volume picked up substantially.By 12:30 p.m. in New York yesterday, gold was only down a
Doug Casey On Taxes And Freedom
via Doug Casey of Casey Research,
The always-outspoken Doug Casey addresses a broader view of taxation and its costs to both individuals and society in general in this interview with Louis James.
L: Doug, the Taxman cometh, at least for most US citizens who file their annual tax papers on April 15. We get a lot of letters from readers who know about your international lifestyle and wonder about the tax advantages they assume it confers. Is this something you care to talk about?
Doug: Yes;
The always-outspoken Doug Casey addresses a broader view of taxation and its costs to both individuals and society in general in this interview with Louis James.
L: Doug, the Taxman cometh, at least for most US citizens who file their annual tax papers on April 15. We get a lot of letters from readers who know about your international lifestyle and wonder about the tax advantages they assume it confers. Is this something you care to talk about?
Doug: Yes;
SchizoFEDia
On the whole, Goldman viewed today's FOMC meeting as moderately more hawkish than expected. The post-meeting statement was close to their expectations but a few changes added a more upbeat tone. Fed officials revised up their forecast for core inflation and down their forecasts for unemployment, in both cases by larger amounts than many had expected. Likely as a result, some participants also lifted their forecasts for the federal funds rate. Chairman Bernanke’s press conference was more
Robert Wenzel Addresses The New York Fed, Lots Of Head-Scratching Ensues
A month ago we had the pleasure of bringing you Jim Grant's must read address directly to employees of the Federal Reserve in one of the most epic rhetorical polemics ever release unmasking the hollow intellectual sophistry at the very core of modern monetary systems. Today, it is Robert Wenzel's turn. Just released in the Economic Policy Journal are his own prepared remarks from his address to the New York Fed. They are recreated below as, like Grant, Wenzel asks a series of burning
FaT BoTToMeD GoLDMaN GiRLs
.
.
FAT BOTTOMED GOLDMAN GIRLS(FAT BOTTOMED GIRLS, QUEEN)
WilliamBanzai7
Are you gonna get bailed again tonight
Or will Uncle Sam finally put up a fight
Are you gonna let your trading book hang out
FED bailout whore
You spin the world of finance upside down
Hey I had just a skinny NAV
Never knew Wall Street good from Wall Street bad
But I knew life before I left my trader nursery
Left alone with Lloydie's fat bailout fanny
Lord such a royal mega scammy
Heap big bailout whore you made a
.
FAT BOTTOMED GOLDMAN GIRLS(FAT BOTTOMED GIRLS, QUEEN)
WilliamBanzai7
Are you gonna get bailed again tonight
Or will Uncle Sam finally put up a fight
Are you gonna let your trading book hang out
FED bailout whore
You spin the world of finance upside down
Hey I had just a skinny NAV
Never knew Wall Street good from Wall Street bad
But I knew life before I left my trader nursery
Left alone with Lloydie's fat bailout fanny
Lord such a royal mega scammy
Heap big bailout whore you made a
Wednesday, April 25, 2012
Apple For Dummies
Since last night's blockbuster earnings by Apple presented yet another "paradigm shift" in how the company is presented to potential new investors (how many are left one wonders); namely, no longer reliant on incremental US purchases - just to avoid the thorny issue of wireless company subsidization - and one now dependent on Chinese consumer demand for future growth, we thought, in conjunction with William Banzai, to present a graphic simplification of what the Apple business model is all
There Goes Greek GDP: Nazional Lampoons Greek Vacation Just Got Cancelled
As if the Greeks haven't suffered enough from Northern European actions (admittedly in response to their own actions), it seems the anti-German sentiment is keeping the wealthy tourists away from the beaches. As Reuters notes today, 'German tourists are in short supply in Greece these days, frightened away by reports of visceral anti-German sentiment in some places'. Data for the main summer holiday season shows pre-bookings from Germany down by some 30 percent. We guess the pictures of
A Spinning Blankfein Responds If Goldman Is Still A Vampire Squid
It seems the PR machine was in full swing today for everyone's favorite Muppet-slayer-in-chief as Goldman Sachs' Lloyd Blankfein did the business media tour. Bloomberg TV, in the clip below, were perhaps toughest on the domed demi-god as they pressed him on the public's perspective of his firm as the 'vampire squid' to which he responded in glib-yet-deferential terms that "it is hyperbole and we'll have to do a better job of explaining how important this industry is". Indeed Lloyd, indeed.
Bubbles
I have to confess, I am tired of writing "structured" articles, the ones where I have to limit my thoughts to 800 words. So with this one I am taking a break. This is an unstructured stream of thought, in no particular sequence.
China bubble today vs. Japan bubble in 80s I am back from San Francisco, where I had the great pleasure of attending and speaking at FAME Symposium, diligently put together by students at San Francisco University. One of the other speakers was a
China bubble today vs. Japan bubble in 80s I am back from San Francisco, where I had the great pleasure of attending and speaking at FAME Symposium, diligently put together by students at San Francisco University. One of the other speakers was a
George Zimmerman did not apologize for killing Trayvon
http://www.youtube.com/v/cgB5UlKktiM?version=3&f=user_uploads&app=youtube_gdata
The Peter Schiff Show (4/25/2012)
Pre-Order my new book The Real Crash at www.tinyurl.com/RealCrash
www.SchiffRadio.com
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
George Zimmerman did not apologize for killing
The Peter Schiff Show (4/25/2012)
Pre-Order my new book The Real Crash at www.tinyurl.com/RealCrash
www.SchiffRadio.com
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
George Zimmerman did not apologize for killing
Bank of America Targets US Firearms and 2nd Amendment - Kelly McMillan
http://www.youtube.com/v/xd96uw8FeD0?version=3&f=user_uploads&app=youtube_gdata
Kelly McMillan, the Director of Operations for weapons manufacturer McMillan International Group says 'Bank of America' no longer wants to do business with his company. Why? Kelly believes it's because they make guns. Welcome to the new freedom in the Fascist USSA.
See the original video here:
Bank of America Targets US Firearms and 2nd Amendment - Kelly
Kelly McMillan, the Director of Operations for weapons manufacturer McMillan International Group says 'Bank of America' no longer wants to do business with his company. Why? Kelly believes it's because they make guns. Welcome to the new freedom in the Fascist USSA.
See the original video here:
Bank of America Targets US Firearms and 2nd Amendment - Kelly
Presenting For Your Correlation Consideration: THE Transfer Payment
We know correlation is not causation, but... Black line is student loan debt; Orange line is AAPL total cash. 2+2 just may ≠ 5 in this case.
Chart: Bloomberg
See the original article here:
Presenting For Your Correlation Consideration: THE Transfer
Chart: Bloomberg
See the original article here:
Presenting For Your Correlation Consideration: THE Transfer
Tarp Overseer Debunks Bailout Myths: Big Companies HAVEN’T Repaid Tarp Funds … And Funds to Help Homeowners HAVEN’T Been Paid
Apologists for government bailouts push two main myths:
That all of the bailout funds have been repaid
That the bailouts helped the average American
But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.
Today, Romero wrote the following to Congress:
After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s
That all of the bailout funds have been repaid
That the bailouts helped the average American
But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.
Today, Romero wrote the following to Congress:
After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s
Live Webcast Of Ben Bernanke Press Conference And Updated Fed Forecasts
Update for those who don't see more easing - bad news:
BERNANKE SAYS FED PREPARED TO TAKE MORE BALANCE SHEET ACTIONS
BERNANKE SAYS `THOSE TOOLS REMAIN ON THE TABLE'
One hour ago, the Fed launched on a big stop hunt, sending gold first much lower, then much higher, even as it released no incremental data, but merely confirmed that with every other central bank still "easing" (by which we mean devaluing their currencies of course, most recently seen in India and Brazil, and shortly, in
BERNANKE SAYS FED PREPARED TO TAKE MORE BALANCE SHEET ACTIONS
BERNANKE SAYS `THOSE TOOLS REMAIN ON THE TABLE'
One hour ago, the Fed launched on a big stop hunt, sending gold first much lower, then much higher, even as it released no incremental data, but merely confirmed that with every other central bank still "easing" (by which we mean devaluing their currencies of course, most recently seen in India and Brazil, and shortly, in
Gundlach Explains Biflation For The Cheap Seats
Appropos Bernanke's razor's-edge tight-rope-walk fence-sitting as the not-too-cold-not-too-hot economy reduces the Fed's ability to do anything, Jeff Gundlach of Double Line provided a succinct explanation of the the 'uncomfortable position' the place-of-confusion Fed finds itself in. Simplifying the dilemma to: the Fed cannot raise rates as the dramatic implications for the huge debt load (and implictly the interest expense saving the budget deficit) of the US Government are untenable
Guest Post: Will Bond Investors And Savers Have To Hold Forced Government Loans At Some Point In The Future?
Submitted by Gu?nter Leitold
Will bond investors and savers have to hold forced government loans at some point in the future?
Numerous governments of developed countries are likely to fail when trying to liquidate their large debt burdens in an orderly way. Japan, for example, steadily widened its debt load over the past 22 years and thereby constructed the largest bankruptcy waiting to happen. Since 1990, new borrowings and interest payments were the biggest contributors to build up the
Will bond investors and savers have to hold forced government loans at some point in the future?
Numerous governments of developed countries are likely to fail when trying to liquidate their large debt burdens in an orderly way. Japan, for example, steadily widened its debt load over the past 22 years and thereby constructed the largest bankruptcy waiting to happen. Since 1990, new borrowings and interest payments were the biggest contributors to build up the
BREAKING: Bank of America Doesn't Support 2nd Amendment - Says Kelly McMillan
http://www.youtube.com/v/xd96uw8FeD0?version=3&f=user_uploads&app=youtube_gdata
Kelly McMillan, the Director of Operations for weapons manufacturer McMillan International Group says 'Bank of America' no longer wants to do business with his company. Why? Kelly believes it's because they make guns. Welcome to the new freedom in the Fascist USSA.
See the original video here:
BREAKING: Bank of America Doesn't Support 2nd Amendment - Says Kelly
Kelly McMillan, the Director of Operations for weapons manufacturer McMillan International Group says 'Bank of America' no longer wants to do business with his company. Why? Kelly believes it's because they make guns. Welcome to the new freedom in the Fascist USSA.
See the original video here:
BREAKING: Bank of America Doesn't Support 2nd Amendment - Says Kelly
Bloomberg reports U.K. Plunges Into Double-Dip Recession, as does CNBC, UK Back Into Recession in First 'Double Dip' Since 1970s
Bloomberg reports U.K. Plunges Into Double-Dip Recession, as does CNBC, UK Back Into Recession in First 'Double Dip' Since 1970s:
Britain's economy slid into its second recession since the financial crisis after official data unexpectedly showed a fall in output in the first three months of 2012, piling pressure on the embattled coalition government.
My contention is that the UK has not fallen back into recession, but has never truly risen out of the last one. Accounting parlour
Britain's economy slid into its second recession since the financial crisis after official data unexpectedly showed a fall in output in the first three months of 2012, piling pressure on the embattled coalition government.
My contention is that the UK has not fallen back into recession, but has never truly risen out of the last one. Accounting parlour
AAPL-on, But Will Ben Drink The Calvados?
From Peter Tchir of TF Market Advisors
AAPL-on, But Will Ben Drink The Calvados?
As far as I can tell AAPL is driving everything. It’s no longer risk-on/risk-off, for the entire week, it has been AAPL-on/AAPL-off. As a result of AAPL earnings, stocks around the globe are reacting positively. Spanish 10 year bonds dipped below 5.70% at one time today, and CDS was 25 bps tighter, all the way to 465. Both are fading, and as far as I can tell, the move was a giant short squeeze as it
AAPL-on, But Will Ben Drink The Calvados?
As far as I can tell AAPL is driving everything. It’s no longer risk-on/risk-off, for the entire week, it has been AAPL-on/AAPL-off. As a result of AAPL earnings, stocks around the globe are reacting positively. Spanish 10 year bonds dipped below 5.70% at one time today, and CDS was 25 bps tighter, all the way to 465. Both are fading, and as far as I can tell, the move was a giant short squeeze as it
March Durable Good Implode, Worse Than Lowest Wall Street Forecast And Biggest Drop Since January 2009
So much for a moderate decline in the economy. As we warned back in February when we noted that the non-seasonally unadjusted collapse in durable goods was historic, now that the aftereffect of a record warm winter is fully gone, the March durable goods data comes in and it was a complete disaster: instead of dropping modestly by 1.7% as the consensus expected, the March actual print was a massive 4.2% decline, worse than the worst Wall Street forecast, or the most since January 2009! And
Crude Sliding As Iran Promises To Halt Nuclear Expansion
Yesterday we had Apple sandbagging expectations with yet another round of low guidance, now it's Iran's turn, which through its Russian Ambassador just said the country will consider halting nuclear expansion to avert the EU oil ban. Needless to say, just as the Apple forward guidance so this "promise" is utterly worthless. But at least it punk'd the algos for the time being sending Brent and WTI down over $1 in a hurry.
WTI...
Brent...
Charts: Bloomberg
See the original article
WTI...
Brent...
Charts: Bloomberg
See the original article
How to make money and preserve wealth - David Quintieri and Alasdair Macleod
http://www.youtube.com/v/fZtMLHF1YiU?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. David Quintieri, author of The Money GPS (http://themoneygps.com/), and the GoldMoney Foundation's Alasdair Macleod talk about the state of the economy and how to make money in this environment by using the four asset classes: paper assets, commodities/precious metals, real estate and businesses.
Quintieri states that governments have
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. David Quintieri, author of The Money GPS (http://themoneygps.com/), and the GoldMoney Foundation's Alasdair Macleod talk about the state of the economy and how to make money in this environment by using the four asset classes: paper assets, commodities/precious metals, real estate and businesses.
Quintieri states that governments have
Gold at Critical Level: Gary Wagner
http://www.youtube.com/v/j7i8kkTreIE?version=3&f=user_uploads&app=youtube_gdata
Gary Wagner, a long-time technical analyst and candle stick charting pioneer joins Kitco News to discuss why the gold market is at such a pivotal point. For Kitco News, Daniela Cambone reports. April 24, 2012.
See the original video here:
Gold at Critical Level: Gary
Gary Wagner, a long-time technical analyst and candle stick charting pioneer joins Kitco News to discuss why the gold market is at such a pivotal point. For Kitco News, Daniela Cambone reports. April 24, 2012.
See the original video here:
Gold at Critical Level: Gary
Mexico, Russia, Turkey, Kazakhstan Raised Gold Reserves in March
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 25, 2012 11:19am GMT
Email
Print
As has been the case for some time now, the gold price didn't do a lot during the Far East trading session on Tuesday...and was down about four dollars when London opened at 8:00 a.m. BST. From the open, the gold price rallied slowly but surely...and spiked right at the London p.m. gold fix.
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 25, 2012 11:19am GMT
As has been the case for some time now, the gold price didn't do a lot during the Far East trading session on Tuesday...and was down about four dollars when London opened at 8:00 a.m. BST. From the open, the gold price rallied slowly but surely...and spiked right at the London p.m. gold fix.
Biderman Bets Against A Better Europe
"Europe is in big trouble, and the trouble is getting worse - much worse" is how Charles Biderman begins his latest missive. The diatribe focuses on the shortcomings of both the left (the existing political structure of government-dominated economies) and the right (a German-style austerity program of slashing spending and raising taxes) of inane politicians in Europe as the two main issues of over-spending and declining economic activity come home to roost. Starting from the Euro's
Steve Keen On Europe's Delusion And Why The Entire World Is Turning Japanese
Economic Debunker Steve Keen is interviewed by outspoken Irish journalist Vincent Browne and no holds are barred as he describes the Maastricht Treaty as a suicide pact of critically poor central-planning design of a supposed market-economy, based on financial crises never occurring, locking European governments into an austere path when stimulus is required. "Ultimately the Euro has to fail and the longer we continue the farce of believing we can make it function the larger the ultimate
Europe's New Entente Discordiale: The Other French Connection
While images of car-chases and Gene Hackman's pork-pie hat may be conjured, the tough new reality that has emerged this week in Europe's rising tensions is the decisive development in France as the election proved a strong showing for both far-right and far-left political parties at the same time. Somewhat surprisingly these extremes are in agreement on critical economic policies: they both want to restrict free-trade and the labor market, and also want to subjugate the ECB. Together with
Apple Carries The World On Its Shoulders: Market Snapshot
As we said yesterday, traders could have just slept through the entire day, ignored headlines about mad cows, auctions of European bonds maturing in a few weeks, speculation of Europe's alleged falling out favor with austerity which is very much irrelevant as all that matters is what German taxpayers/voters say, and the SEC's latest laughable scapegoating attempts, and just woken to the 4:30 pm announcement of iPhone sales in China. As expected, the entire world is now reacting. Here is
Tuesday, April 24, 2012
Apple Beats, Guides Lower
And here they are:
APPLE 2Q REV. $39.19B, EST. $36.87B
APPLE 2Q EPS $12.30, EST. $10.02
APPLE SOLD 35.1 MILLION IPHONES IN QTR, EST. 31.2M
APPLE 2Q IPOD UNITS SOLD 7.7MLN , DOWN 15%
APPLE 2Q IPAD UNITS SOLD 11.8MLN
APPLE 2Q GROSS MARGIN 47.4%, EST. 42.8%
APPLE 2Q MACINTOSH UNITS SOLD 4MLN , UP 7%
But:
APPLE SEES 3Q REV. ABOUT $34B, EST. $37.49B
APPLE SEES 3Q
APPLE 2Q REV. $39.19B, EST. $36.87B
APPLE 2Q EPS $12.30, EST. $10.02
APPLE SOLD 35.1 MILLION IPHONES IN QTR, EST. 31.2M
APPLE 2Q IPOD UNITS SOLD 7.7MLN , DOWN 15%
APPLE 2Q IPAD UNITS SOLD 11.8MLN
APPLE 2Q GROSS MARGIN 47.4%, EST. 42.8%
APPLE 2Q MACINTOSH UNITS SOLD 4MLN , UP 7%
But:
APPLE SEES 3Q REV. ABOUT $34B, EST. $37.49B
APPLE SEES 3Q
Apple Cash Hits $110 Billion, Up $12.6 Billion
If there is anything at all less than superlative that can be said about Apple's consolidated cash hoard, which grew by $12.6 billion in the quarter and double from a year earlier, is that it is a tad less exponentially than before. Still, not bad: the country's cash stash is nearly enough to cover the first Greek bailout (will need to wait 2 more quarter for it to be sufficient to pay for the fifth one).
See the original article here:
Apple Cash Hits $110 Billion, Up $12.6
See the original article here:
Apple Cash Hits $110 Billion, Up $12.6
Most Favourable Era For Gold Prices In Our Lifetime: Simon Black - GoldSilver.com Radio
http://www.youtube.com/v/HnnTFfAOO4Y?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com Simon Black is international investor, entrepreneur, permanent traveler, and most importantly, a free man.
He believes that in order to achieve true freedom, you have to be able to make money, control your time, and eliminate the mindset that you are subject to a corrupt government that is bent on degrading your personal liberty.
All of these topics are covered in his free
http://www.goldsilver.com Simon Black is international investor, entrepreneur, permanent traveler, and most importantly, a free man.
He believes that in order to achieve true freedom, you have to be able to make money, control your time, and eliminate the mindset that you are subject to a corrupt government that is bent on degrading your personal liberty.
All of these topics are covered in his free
Frontrunning: April 24
China’s Biggest Banks Are Squeezed for Capital (NYT)
Greeks detect hypocrisy as Dutch coalition stumbles (Reuters)
Hollande Blames Europe’s Austerity Plan for Le Pen’s Rise (Bloomberg)
In a Change, Mexico Reins In Its Oil Monopoly (NYT)
China Tire Demand Slows as Economy Decelerates, Bridgestone Says (Bloomberg)
Social Security’s financial forecast gets darker; Medicare’s outlook unchanged (WaPo)
Fed’s 17 Rate Forecasts May Confuse More Than Clarify (Bloomberg)
Senate to vote
Greeks detect hypocrisy as Dutch coalition stumbles (Reuters)
Hollande Blames Europe’s Austerity Plan for Le Pen’s Rise (Bloomberg)
In a Change, Mexico Reins In Its Oil Monopoly (NYT)
China Tire Demand Slows as Economy Decelerates, Bridgestone Says (Bloomberg)
Social Security’s financial forecast gets darker; Medicare’s outlook unchanged (WaPo)
Fed’s 17 Rate Forecasts May Confuse More Than Clarify (Bloomberg)
Senate to vote
The Day Austerity Died
Via Peter Tchir of TF Markert Advisors,
Austerity is dead! Long live Spending!
Futures are up, Italian and Spanish bonds are up, CDS spreads on them are at least 10 bps tighter, and MAIN is 3 bps tighter on the day (though I have this feeling I better type fast as we are starting to fade off the best levels).
Lots of little things seem to be contributing to the strength, TXU earnings, no economic data, auctions that raised the required money, etc., but there does also seem to be a belief
Austerity is dead! Long live Spending!
Futures are up, Italian and Spanish bonds are up, CDS spreads on them are at least 10 bps tighter, and MAIN is 3 bps tighter on the day (though I have this feeling I better type fast as we are starting to fade off the best levels).
Lots of little things seem to be contributing to the strength, TXU earnings, no economic data, auctions that raised the required money, etc., but there does also seem to be a belief
Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March
From GoldCore
Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March
Gold’s London AM fix this morning was USD 1,638.75, EUR 1,244.68, and GBP 1,014.83 per ounce. Yesterday's AM fix was USD 1,632.00, EUR 1,240.97 and GBP 1,014.42 per ounce.
Silver is trading at $30.85/oz, €23.43/oz and £19.10/oz. Platinum is trading at $1,550.00/oz, palladium at $671.25/oz and rhodium at $1,350/oz.
Gold fell $3.80 or 0.23% in New York yesterday and closed at $1,638.20/oz. Gold has
Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March
Gold’s London AM fix this morning was USD 1,638.75, EUR 1,244.68, and GBP 1,014.83 per ounce. Yesterday's AM fix was USD 1,632.00, EUR 1,240.97 and GBP 1,014.42 per ounce.
Silver is trading at $30.85/oz, €23.43/oz and £19.10/oz. Platinum is trading at $1,550.00/oz, palladium at $671.25/oz and rhodium at $1,350/oz.
Gold fell $3.80 or 0.23% in New York yesterday and closed at $1,638.20/oz. Gold has
Case Shiller Misses Expectations, Unadjusted Home Prices Lowest In A Decade
The February Case Shiller number is out and represents the latest high frequency economic miss, with the 20 City Seasonally Adjusted number printing up 0.15% on expectations of 0.20%. The good news, of course, is that this is the first improvement in the Seasonally Adjusted Top 20 MSA Series since April 2011. The bad news is that this was all warm weather driven, and courtesy of seasonal adjustments: unadjusted the February data declined once again, this time by 0.8%, the 6th consecutive
It's The FX Repatriation, Stupid
Two weeks ago we were the first to explain that the mysterious Euro levitation observed, as newsflow out of Europe had just turned very ugly, was due solely to another iteration of a very disturbing phenomenon: EUR repatriation, as domestic banks were forced to shore up capital ahead of what they perceived as major liquidity needs such as bond auctions, and the other usual fare - insolvent banks, deposit outflow replacement, etc. As a reminder, the last time such aggressive repatriation
Jim Rickards: The Hidden Role of Gold at the IMF
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 24, 2012 11:24am GMT
Email
Print
All was quiet both price wise and volume wise during Far East trading during their Monday, but moments after London opened yesterday morning, the bid disappeared and the gold price dropped ten bucks in about fifteen minutes.From there it flat-lined up until about lunchtime local time...and then
Ed Steer
Yesterday in Gold and Silver
Ed_GSDApril 24, 2012 11:24am GMT
All was quiet both price wise and volume wise during Far East trading during their Monday, but moments after London opened yesterday morning, the bid disappeared and the gold price dropped ten bucks in about fifteen minutes.From there it flat-lined up until about lunchtime local time...and then
The Death of Crudubeeleetee (RIP)
The implications of the rudderless ship that is the Netherlands are becoming clear as mud. Lex Hoogduin says we shouldn't be overly preoccuppied with our credibility. I am interested in this question and therefore throw the question back to the best performing investors we have on the site, if they have the time, how would you be investing at the moment? Have bonds lost all their appeal? Stocks?
Moody's is throwing the country into a tizzy by focusing on government debt. No mention of
Moody's is throwing the country into a tizzy by focusing on government debt. No mention of
Citi's Englander On What Can Go Wrong In The Next 11 Days?
1) Regional Fed presidents are talking hawkish but markets are pricing dovish.
Expectations of fed actions have retraced sharply since March. Consider the path of the October 2014 fed funds futures rate (right now the first fed funds contract that prices in a full hike, Figure 1). With the exception of a brief period immediately after the January FOMC, fed funds futures now price in the lowest path of Fed policy rates on record.
Now consider the risks that accompany
Expectations of fed actions have retraced sharply since March. Consider the path of the October 2014 fed funds futures rate (right now the first fed funds contract that prices in a full hike, Figure 1). With the exception of a brief period immediately after the January FOMC, fed funds futures now price in the lowest path of Fed policy rates on record.
Now consider the risks that accompany
Miscellaneous Market Thoughts
Miscellaneous Market Thoughts
So which way is the market going?
We tried to figure that out in Stock World Weekly (Technically Speaking), and are following up by visiting with Allan Trends, Lee Adler, Pharmboy of Phil's Stock World and Mark of Market Montage. ~ Ilene
In Stock World Weekly we noted that most of the stock market indexes rallied higher last week and our insurance contracts didn’t pay off. However, our thoughts on the importance of downside protection stayed the same
So which way is the market going?
We tried to figure that out in Stock World Weekly (Technically Speaking), and are following up by visiting with Allan Trends, Lee Adler, Pharmboy of Phil's Stock World and Mark of Market Montage. ~ Ilene
In Stock World Weekly we noted that most of the stock market indexes rallied higher last week and our insurance contracts didn’t pay off. However, our thoughts on the importance of downside protection stayed the same
Monday, April 23, 2012
Gold Outperforms As Stocks Suffer From Wal-Mart's 'Sinko-De-Abril'
An ugly European market initially dragged stocks notably weaker overnight, with plenty of headline-makers from Apple's moves to WMT's 'Sinko-de-Abril' accounting for 20% of the Dow's loss, and Europe's macro data but after the first 30 minutes or so, S&P futures bounced off 4/10 day-session lows and leaked higher all day from there to end around last Monday's closing print. Volumes lagged as we rallied - as did average trade size - but in the last few minutes heavy volume and large average
Guest Post: Where’s The Crisis?
Submitted by Azizonomics
Where’s The Crisis?
A hilarious BusinessWeek piece from 2005 asked:
Is the U.S. in a savings crisis? We think not, though one may be brewing if attitudes toward the budget deficit don’t change in Washington. The fact is that for the past 20 years, America has grown faster than Europe and Japan, two of the world’s highest savers. Year after year, U.S. deficits are financed, bills are paid, and living standards rise. If anything, America is awash in
Where’s The Crisis?
A hilarious BusinessWeek piece from 2005 asked:
Is the U.S. in a savings crisis? We think not, though one may be brewing if attitudes toward the budget deficit don’t change in Washington. The fact is that for the past 20 years, America has grown faster than Europe and Japan, two of the world’s highest savers. Year after year, U.S. deficits are financed, bills are paid, and living standards rise. If anything, America is awash in
On war in Europe
"Even on the eve of war, however, there was still considerable optimism that the peace would hold. Europe had experienced several decades without a major war, and in the meantime, industrialization and relatively free international trade had produced rapidly rising standards of living. A war that would destroy the fruits of this progress seemed irrational.
Many people believed, moreover, that the rising international solidarity of the labor movement would undermine support for a
Many people believed, moreover, that the rising international solidarity of the labor movement would undermine support for a
CAMPAIGN KICK-OFF LISA EPSTEIN, DEMOCRAT, for CLERK OF CIRCUIT COURT, PALM BEACH COUNTY
Contact: Quan Cao
Tel: (561) 866-7028
Email: Quan@LisaForClerk.com
FOR IMMEDIATE RELEASE
CAMPAIGN KICK-OFF
LISA EPSTEIN, DEMOCRAT, for CLERK OF CIRCUIT COURT, PALM BEACH COUNTY
Palm Beach County, Florida April 24, 2012 -- Join us for Lisa Epstein’s kick-off campaign in her bid to become the next Clerk of Circuit Court for Palm Beach County.
Lisa Epstein, 46, moved to Palm Beach County, Florida in 1997. A graduate of George Mason University in Fairfax, Virginia, Lisa is a registered
Tel: (561) 866-7028
Email: Quan@LisaForClerk.com
FOR IMMEDIATE RELEASE
CAMPAIGN KICK-OFF
LISA EPSTEIN, DEMOCRAT, for CLERK OF CIRCUIT COURT, PALM BEACH COUNTY
Palm Beach County, Florida April 24, 2012 -- Join us for Lisa Epstein’s kick-off campaign in her bid to become the next Clerk of Circuit Court for Palm Beach County.
Lisa Epstein, 46, moved to Palm Beach County, Florida in 1997. A graduate of George Mason University in Fairfax, Virginia, Lisa is a registered
Weighing A Strip Club Tax While Municipalities Hit the Wall
Wolf Richter www.testosteronepit.com
While all eyes are on Europe, California is hobbling along its own path to, well, a tsunami of last-minute bills. In total, 665 bills are scheduled to be debated by policy committees from Monday through Thursday, the final days for 2012 legislation to get off the ground. California has some issues—its fiscal and economic policies haven't been a raging success recently. Hence, numerous crucial proposals in that pile of bills. For example, a strip
While all eyes are on Europe, California is hobbling along its own path to, well, a tsunami of last-minute bills. In total, 665 bills are scheduled to be debated by policy committees from Monday through Thursday, the final days for 2012 legislation to get off the ground. California has some issues—its fiscal and economic policies haven't been a raging success recently. Hence, numerous crucial proposals in that pile of bills. For example, a strip
Is Gold Volatility The Cheapest Event-Risk Hedge?
With the plethora of mounting event risks, from the end of Operation Twist to numerous elections, the possibility of QE3, the US fiscal situation, the ECB/Bundesbank battle, and China's on-again-off-again economy, it seems finding a low cost long volatility 'bet' is the best way to gather some macro protection (aside from total liquidation that is). Earlier, we noted how expensive S&P 500 implied volatility had become relative to its realized vol - suggesting that being long S&P vol is not
Death of Crudubeeleetee
The implications of the rudderless ship that is the Netherlands are becoming clear as mud. Lex Hoogduin says we shouldn't be overly preoccuppied with our credibility. I am interested in this question and therefore throw the question back to the best performing investors we have on the site, if they have the time, how would you be investing at the moment? Have bonds lost all their appeal? Stocks?
Moody's is throwing the country into a tizzy by focusing on government debt. No mention of
Moody's is throwing the country into a tizzy by focusing on government debt. No mention of
David Morgan Says No QE3 For You on The Financial Survival Network
http://www.youtube.com/v/jmJBSdQDNZE?version=3&f=user_uploads&app=youtube_gdata
http://Silver-Investor.com
See the original video here:
David Morgan Says No QE3 For You on The Financial Survival
http://Silver-Investor.com
See the original video here:
David Morgan Says No QE3 For You on The Financial Survival
Montreal Mining Conference Disrupted by Violent Protestors - April 20, 2012
http://www.youtube.com/v/jabagX4SPaQ?version=3&f=user_uploads&app=youtube_gdata
Kitco News was at the Board of Trade of Metropolitan Montreal's (BTMM) Plan Nord mining conference on April 20, 2012 when it was disrupted by violent rioters protesting tuition hikes in Montreal; despite this, Premier Charest still delivered his speech. Kitco News reporters Alex Letourneau and Daniela Cambone were on hand to cover the event; here's what they had to say. April 20, 2012.
See the
Kitco News was at the Board of Trade of Metropolitan Montreal's (BTMM) Plan Nord mining conference on April 20, 2012 when it was disrupted by violent rioters protesting tuition hikes in Montreal; despite this, Premier Charest still delivered his speech. Kitco News reporters Alex Letourneau and Daniela Cambone were on hand to cover the event; here's what they had to say. April 20, 2012.
See the
Expect Gold and Silver to Pick-Up: Technically Speaking w/ Jim Wyckoff
http://www.youtube.com/v/DL3KIwUpkKo?version=3&f=user_uploads&app=youtube_gdata
Technically Speaking with Jim Wyckoff for the week of April 22, 2012. Kitco News.
See the original video here:
Expect Gold and Silver to Pick-Up: Technically Speaking w/ Jim
Technically Speaking with Jim Wyckoff for the week of April 22, 2012. Kitco News.
See the original video here:
Expect Gold and Silver to Pick-Up: Technically Speaking w/ Jim
Nigel Farage Batters Barroso But Noyer Self-Deludes On European Crisis Ending
Juxtaposing the market's recent movements, Nigel Farage's 'when-not-if' perspective on the end of the Euro, Weidmann's concerns, and now ECB's Noyer stunning self-delusion that, as Bloomberg notes:
*NOYER SAYS STEPS TO EXIT EURO CRISIS BEGINNING TO BEAR FRUIT
*NOYER: BANK FUNDING, MONEY MARKET CONDITIONS ARE MUCH BETTER
*NOYER: RECENT EXCEPTIONAL STEPS LET BANKS, GOV'TS STRENGTHEN
*WEIDMANN: RENEGOTIATION OF AUSTERITY A 'BLOW TO CREDIBILITY'
is more than some can bear. As Mr.Farage
*NOYER SAYS STEPS TO EXIT EURO CRISIS BEGINNING TO BEAR FRUIT
*NOYER: BANK FUNDING, MONEY MARKET CONDITIONS ARE MUCH BETTER
*NOYER: RECENT EXCEPTIONAL STEPS LET BANKS, GOV'TS STRENGTHEN
*WEIDMANN: RENEGOTIATION OF AUSTERITY A 'BLOW TO CREDIBILITY'
is more than some can bear. As Mr.Farage
US Welfare State To Run Out Of Cash Sooner Than Hoped For
Medicare trustees just released their annual report on the program's finances and it does not make for healthy reading. In fact the main headline takeaway is that the social security fund itself will now run dry three years sooner than was projected in 2011. While 2035, the new deadline, seems a long way off, the 5% rise in medicare costs in 2011 should be enough to worry most and perhaps more disturbing is the separate disability program is set to run dry in 2016 (two years earlier than
Guest Post: Gasoline Is Expensive - Deal With It
Via Daniel Graeber of OilPrice.com,
The White House announced it was getting into the commodities game in an effort to protect consumers from some of the geopolitical factors spilling over into the retail gasoline market. OPEC and the IEA both said in their monthly reports that market perceptions were behind higher energy prices, not physical shortages. With most U.S. consumers still economically gun shy, gasoline consumption is down amid high retail prices. But on the business side,
The White House announced it was getting into the commodities game in an effort to protect consumers from some of the geopolitical factors spilling over into the retail gasoline market. OPEC and the IEA both said in their monthly reports that market perceptions were behind higher energy prices, not physical shortages. With most U.S. consumers still economically gun shy, gasoline consumption is down amid high retail prices. But on the business side,
Rosenberg Roasts The Roundtable Of Groupthink
It appears that when it comes to mocking consensus groupthink emanating from lazy career 'financiers' who seek protection from their lack of imagination and original thought, 'creation' of negative alpha and general underperformance (not to mention reliance on rating agencies, only to jump at the first opportunity to demonize the clueless raters), in the sheer herds of other D-grade asset "managers" (for much more read Jeremy Grantham explaining this and much more here), David Rosenberg
Global Systemic Risk At 3 Month Highs
In a little over a month, the risk of the 30 most systemically important global banks has jumped an impressive 45%. At 235bps, the FSB30 stands just shy of the peak levels that were seen in the initial March 2009 crisis moment - though remains below Q4 2011 peak crisis levels. Perhaps, despite all the protestations of 'zee stabilitee', self-sustaining record-profit-margin-driven recovery, and Chinese soft-landing, the vicious circles of austerity in Europe (and perhaps the US) and
Scam Trek Caption Contest
Europe, the final fun-tear...
Courtesy of William Banzai
See the original article here:
Scam Trek Caption
Courtesy of William Banzai
See the original article here:
Scam Trek Caption
NFLX Beats But Guidance Stuns Stock -19% From Friday's Close
Netflix headlines may appear rosy as top and bottom lines were a beat but guidance on revenues and subrscriber adds perhaps rings the death knell on this mythical beast...
*NETFLIX SEES 2Q NET ADDS BELOW THOSE OF 2010 :NFLX US
*NETFLIX SEES 2Q REV. ABOUT $873M-$895M; EST. $893.4M :NFLX US
We can only hope that AAPL does not miss in any way on any metric ever...
See the original article here:
NFLX Beats But Guidance Stuns Stock -19% From Friday's
*NETFLIX SEES 2Q NET ADDS BELOW THOSE OF 2010 :NFLX US
*NETFLIX SEES 2Q REV. ABOUT $873M-$895M; EST. $893.4M :NFLX US
We can only hope that AAPL does not miss in any way on any metric ever...
See the original article here:
NFLX Beats But Guidance Stuns Stock -19% From Friday's
BOE's Andy Haldane Channels Zero Hedge, Reveals The Liquidity Mirage And The Collateral Crunch
It's not as if this should come as a major surprise to ZeroHedge readers, but to hear officials from the Bank of England pointing out the sub-optimal nature of the financial system's information asymmetries is refreshing. Be it via any one of Andrew Haldane's three so-called arms-races (Returns - the past, Speed - the present, and Safety - the future), analogizing to the winner-takes-all 'sex-fest' blubberiest-optima of elephant seals and their 'extinction' implications, these socially
AAPL Slides Under 50 DMA As Wal-Mart Implodes
Europe's overnight reality check is weighing on stocks broadly but two names standout. Apple is down once again, and below its 50DMA for the first time in four months but it is Wal-Mart that is struggling under the weight of the Mexican debacle. Walmex is down over 25% at the open and WMT opened down over 5% on huge volume. Apple and Wal-Mart bounced out of the gate off those lows but are leaking back now.
Wal-Mart struggling after initial bounce as it gets dragged back to VWAP...
As
Wal-Mart struggling after initial bounce as it gets dragged back to VWAP...
As
And Credit Was Right... As Always
Presented with little comment aside from a slight Schadenfreude as the European equity market collapses back in line with the credit market's much less sanguine view of the sad reality that is European social, economic, and political life. Meanwhile, German 10Y yields just broke to record low yields as EUR-USD basis swaps deteriorate, LTRO Stigma leaks to its widest in over 4 months as Spanish 10Y yields hold above 6% once again and Dutch CDS snap wider to their 3rd highest level ever on
Russian Main Sector Trading Halted
Remember when Russia was the harbinger of global stock market halts and the best predictor of Rule 48s right here in the US? Here we go again (and via Interfax):
Loosely translated: trading the main sector of the Micex has been halteuntil 18:56 pm local time. We apologise for the inconvenience.
See the original article here:
Russian Main Sector Trading
Loosely translated: trading the main sector of the Micex has been halteuntil 18:56 pm local time. We apologise for the inconvenience.
See the original article here:
Russian Main Sector Trading
Dutch Cabinet Resigns
As reported first thing this morning when we discussed the perfect storm in Europe, the Dutch government was expected to resign en masse in the aftermath of this weekend's auterity fiasco. Sure enough, that resignation is now fact.
From the WSJ:
Dutch Prime Minister Mark Rutte and his cabinet have resigned after failing to reach agreement on reducing the country's budget to meet European guidelines, the Dutch government information service said Monday.
The information service said
From the WSJ:
Dutch Prime Minister Mark Rutte and his cabinet have resigned after failing to reach agreement on reducing the country's budget to meet European guidelines, the Dutch government information service said Monday.
The information service said
Mining Minutes
http://www.youtube.com/v/jabagX4SPaQ?version=3&f=user_uploads&app=youtube_gdata
See the original video here:
Mining
See the original video here:
Mining
Sunday, April 22, 2012
Here Is What The "Other" Financial Health Metrics Are Showing
For all those starry-eyed readers of Floyd Norris' New York Times real-estate column this morning who have been out viewing new homes this afternoon and already scratching together the down-payment with the family's EBT cards, we have a little contextual reality checking. Norris points to the factual reality that a broad ratio of all financial obligations - both homeowners and renters - relative to disposable income stands at an impressive-sounding lowest level since 1984, and uses this
The Anti-Goldilocks? China's HSBC Flash PMI Beats But Contraction Remains
China's April HSBC Flash PMI came slightly stronger than expected but suggests manufacturing may remain in a contractionary state for the sixth month in a row. The problem for all those stimulus junkies is that while it does suggest contraction, the data rose modestly from last month's final HSBC Manufacturing PMI print. So is this data not cold enough for massive stimulus (which Australia must be craving given tonight's dismal PPI print) and not warm enough for the 'double-rip' camp and
Spring update
http://www.youtube.com/v/h3UxYRtTusM?version=3&f=user_uploads&app=youtube_gdata
silver gold summer doldrums already here. Sell in may and watch another Lehman collapse.
See the original video here:
Spring
silver gold summer doldrums already here. Sell in may and watch another Lehman collapse.
See the original video here:
Spring
Target2 Taboo
Today I'd like to talk a bit about the virtual radio silence in the Netherlands on its growing Target2 balances. While a healthy but acrimonious debate has raged on this topic in Germany, there is almost nothing to be heard about it in the Dutch media. I did three google news searches using:
Target2
Target2 + Dutch
and
Target2 + Nederland
In an admittedly quick look, I came up with a grand total of one article of three
Target2
Target2 + Dutch
and
Target2 + Nederland
In an admittedly quick look, I came up with a grand total of one article of three
ViVa SaRKo!
.
.
Sarkozy is losing his headHis dreams of the Euro are deadHe knows it will passLike so much bad gasTo chaos this voyage has led
The Limerick King
See the original article here:
ViVa
.
Sarkozy is losing his headHis dreams of the Euro are deadHe knows it will passLike so much bad gasTo chaos this voyage has led
The Limerick King
See the original article here:
ViVa
The First French Official Results Are In
8 pm has just passed in France, and all the polls are now closed, which means official preliminary data is now allowed - the first results from IPSOS are in, and are as follows:
Francois Hollande: 28.4% (28.8% latest) - with victory virtually assured in the runoff round on May 6, it is now Hollande's election to lose. Could he? Yes - read here how Sarkozy can still catch up per DB.
Nicholas Sarkozy: 25.5% (26.1% latest) - make the runoff round
Marine Le Pen: 20.0% (18.5% latest) -
Francois Hollande: 28.4% (28.8% latest) - with victory virtually assured in the runoff round on May 6, it is now Hollande's election to lose. Could he? Yes - read here how Sarkozy can still catch up per DB.
Nicholas Sarkozy: 25.5% (26.1% latest) - make the runoff round
Marine Le Pen: 20.0% (18.5% latest) -
Israel's Key Energy Provider, Egypt, Cuts Off All Natural Gas Supplies
Two months ago, we warned that while the world had decided to blissfully move on from last year's topic #1, the MENA revolutions, and specifically the massive power vacuum left in their wake, things in the region were far from fixed. Quite the contrary, and as we added back then "it is very likely that the Mediterranean region, flanked on one side by the broke European countries of Greece, Italy, Spain (and implicitly Portugal), and on the other by the unstable powder keg of
Listener Questions 3/01/12 Preview
http://www.youtube.com/v/Vp0ZcbfTlCs?version=3&f=user_uploads&app=youtube_gdata
Ronny from New York City, NY: Has the hyperinflation been avoided, so far, in the U.S. because the banks are holding all the printed money as "excess reserves" at the Fed?
Submit your webcast questions here: http://schiffradio.com/contactus?loadForm=4#contactForms
See the original video here:
Listener Questions 3/01/12
Ronny from New York City, NY: Has the hyperinflation been avoided, so far, in the U.S. because the banks are holding all the printed money as "excess reserves" at the Fed?
Submit your webcast questions here: http://schiffradio.com/contactus?loadForm=4#contactForms
See the original video here:
Listener Questions 3/01/12
Stimulus High Fading, Dollar, Gold, History According to Obama
http://www.youtube.com/v/yZPB50QtLqo?version=3&f=user_uploads&app=youtube_gdata
The Schiff Report (4/22/2012)
Pre-Order my new book The Real Crash at www.tinyurl.com/RealCrash
See the original video here:
Stimulus High Fading, Dollar, Gold, History According to
The Schiff Report (4/22/2012)
Pre-Order my new book The Real Crash at www.tinyurl.com/RealCrash
See the original video here:
Stimulus High Fading, Dollar, Gold, History According to
Live From Athens: "You've Got To Pick A Pocket Or Two"
By Mark Grant, author of Out of the Box
“Oliver” returns to the stage in Athens
“It's him that pays the piper. It's us that pipes his tune So long, fare thee well Pip! Pip! Cheerio! We'll be back soon.” -Oliver, Be Back Soon
The focus has shifted. The all seeing orb is now focused on Spain but it may well turn back to Greece soon. The loan money is exhausted again and the Greeks have elections
“Oliver” returns to the stage in Athens
“It's him that pays the piper. It's us that pipes his tune So long, fare thee well Pip! Pip! Cheerio! We'll be back soon.” -Oliver, Be Back Soon
The focus has shifted. The all seeing orb is now focused on Spain but it may well turn back to Greece soon. The loan money is exhausted again and the Greeks have elections
Things That Make You Go Hmmm - Such As A Power Struggle (To The Death) Within China's Power Elite
For those who have not been following the Bo Xilai drama unfolding with furious pace over the past month, we have some advice: you should be, as the fate of China will be defined by who is left standing at the end, which in turn will have momentous consequences for the entire Developed World. But where does one start? Luckily, Grant Williams' latest TTMYGH has one simple plot line: presenting the past, present and future of the epic power struggle between Wen Jiabao and Bo Xilai which has
Investor Sentiment: Bulls Lose Enthusiasm
The "dumb money" indicator has become more neutral suggesting that the bulls have lost enthusiasm for this bull market. As can be seen in figure 1 (below), the indicator has dropped below the upper trading band (green arrow). From this perspective, the playbook becomes real simple. If the indicator moves back above the upper trading band, then investors are putting risk back on, and all in likelihood, this would represent the last gasp of speculation in an aging bull market. This would
The Cost Of Twisting (And The "Housing Recovery"): $100 Billion In Foregone NIM To The Primary Dealers
When Operation Twist began in late September 2011, Primary Dealers reported that their net position in bonds with a maturity between 1 and 3 years was ($23) billion or the biggest short since January 2010, while reporting holdings of bonds between 11 and 30 years of $12.4 billion, for a net carry position (Short minus Long) of $(35) billion. What a difference just over 6 months makes: courtesy of Treasury Primary Dealer data, we now know that in the preceding weeks, with the Fed selling
French Toast
Today is the first round presidential election in France. As voters head for the polls, incumbent Nicolas Sarcozy is badly trailing his rival Francois Hollande. It is likely that Sarkozy will live to fight one more day, since he is expected to poll second behind his rival to continue on to the runoff election next month. But the consensus among the French is that Hollande will emerge as president.
The strength of Hollande's lead is rather surprising given that along with Germany, France
The strength of Hollande's lead is rather surprising given that along with Germany, France
“Drachma Clauses”: Planning for Greece’s Exit from the Eurozone
The largest banks in Greece—National, Alpha, Eurobank, and Piraeus—reported €28.2 billion in losses for the year 2011. Almost 13% of GDP! It included the bond swap that had saddled private-sector bondholders with a 74% loss. But no worries. Rescue funds were already lined up at the Hellenic Financial Stability Fund, which had received €25 billion in bonds from the European Financial Stability Facility the day before—part of the second bailout package of €130 billion that the
Whales and Market Cornering Attempts
Whales and Market Cornering Attempts
Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
“You have to dance while the music is playing”- Chuck Prince, Citigroup mucky muck, shortly before 2008 crisis
Of late Zero Hedge has been mentioning the presence of one large JP Morgan trader nicknamed the whale (Bruno Iksil). Tuesday ZH broached a question I myself have been wondering, is there a large whale trader (or traders) price fixing the markets, or at least key
Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
“You have to dance while the music is playing”- Chuck Prince, Citigroup mucky muck, shortly before 2008 crisis
Of late Zero Hedge has been mentioning the presence of one large JP Morgan trader nicknamed the whale (Bruno Iksil). Tuesday ZH broached a question I myself have been wondering, is there a large whale trader (or traders) price fixing the markets, or at least key
Saturday, April 21, 2012
Spain is About to Enter a Full-Scale Collapse
Spain is about to enter a full-scale Crisis.
A few facts about Spain:
• Total Spanish banking loans are equal to 170% of Spanish GDP.
• Troubled loans at Spanish Banks just hit an 18-year high.
• Spanish Banks are drawing a record €316.3 billion from the ECB
(up from €169.2 billion in February).
Things have gotten so bad that Spanish citizens are pulling their money out of Spain en masse: €65 billion left the Spanish banking system
A few facts about Spain:
• Total Spanish banking loans are equal to 170% of Spanish GDP.
• Troubled loans at Spanish Banks just hit an 18-year high.
• Spanish Banks are drawing a record €316.3 billion from the ECB
(up from €169.2 billion in February).
Things have gotten so bad that Spanish citizens are pulling their money out of Spain en masse: €65 billion left the Spanish banking system
Is Credit Trying to Tell Us Something?
As retirement is evidently on again in 2012, let's not forget to keep an eye on HYG (high yield corporate credit).
The start of 2012 has led to a pretty significant decoupling of the S&P (equity) and HYG (credit), which begs the question which is right - as both are "risk on" asset classes, does S&P have a significant correction ahead, or does credit just have some catching up to do?
Over the past few years, it's been equities that have gotten out ahead of themselves.
See
The start of 2012 has led to a pretty significant decoupling of the S&P (equity) and HYG (credit), which begs the question which is right - as both are "risk on" asset classes, does S&P have a significant correction ahead, or does credit just have some catching up to do?
Over the past few years, it's been equities that have gotten out ahead of themselves.
See
Adlerconobot Takes On Conomists' Consensual Sexpectations
Adlerconobot Takes On Conomists' Consensual Sexpectations
Courtesy of Lee Adler of the Wall Street Examiner
The Conobot's Take On Next Week's Wall Street Farce
Job one for the US Treasury and its Primary Dealer enforcers is to keep yields low during weeks when the Treasury has a big load of notes and bonds to sell. Next week is one of those weeks, so the casino owners and managers will do what they can to gin up reasons for the Treasury market to stay strong. That usually means
Courtesy of Lee Adler of the Wall Street Examiner
The Conobot's Take On Next Week's Wall Street Farce
Job one for the US Treasury and its Primary Dealer enforcers is to keep yields low during weeks when the Treasury has a big load of notes and bonds to sell. Next week is one of those weeks, so the casino owners and managers will do what they can to gin up reasons for the Treasury market to stay strong. That usually means
Silver & Gold: The Truth Exposed
http://www.youtube.com/v/E-ShSGz89mA?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Silver & Gold: The Truth
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Silver & Gold: The Truth
HeLiCoPToR BeNe
Ben's making one of his stopsInjecting large currency swapsThe people are gayAs Ben bombs awayThis plan is just one of Ben's flops
The Limerick King
.
.
The crises in Europe is deep
So ECB money is cheap
But now they will play
The IMF way
Recipient nations will weap
The Limerick King
See the original article here:
HeLiCoPToR
The Limerick King
.
.
The crises in Europe is deep
So ECB money is cheap
But now they will play
The IMF way
Recipient nations will weap
The Limerick King
See the original article here:
HeLiCoPToR
The Gods of the Copybook Headings: Haven't We Learned Our Lesson Yet?
As we learn that the "firewall" in Europe is nonsense, and we're told that the IMF expects broke countries to provide hundreds of billions more to stave off the next financial crisis, one question comes to mind:
Haven't we learned our lesson yet?
While reading Tyler's piece this morning on what a complete & utter farce the Federal Reserve is, I thought of a poem by Rudyard Kipling (published in 1919, shortly after Wilson & his progressive pals had helped to create the Federal
Haven't we learned our lesson yet?
While reading Tyler's piece this morning on what a complete & utter farce the Federal Reserve is, I thought of a poem by Rudyard Kipling (published in 1919, shortly after Wilson & his progressive pals had helped to create the Federal
The Most Surprising Chart Of Q1 Earnings Season So Far
22% of the Q1 earnings season (by market cap) is over, and anyone listening merely to soundbites and reading media headlines would likely think that stocks have soared as a result of a relentless parade of beats. One would be mistaken. In fact, as the chart below shows, there is something very wrong with this earnings season...
Well isn't that special: the average return of all companies beating both the top and the bottom line three days after the report is... down 1.2% (less odd is that
Well isn't that special: the average return of all companies beating both the top and the bottom line three days after the report is... down 1.2% (less odd is that
Where Do We Go From Here?
We present our favorite chart of 2012 (now freshly updated and with that new, NINJA subprime-loan subsidized, car smell) without any further commentary.
See the original article here:
Where Do We Go From
See the original article here:
Where Do We Go From
Is Exim going to flop?
America’s Export-Import Bank (Exim) is tapped out. Its authority runs out on May 31 and Congress has to agree to some form of extension. Exim has $100 billion of borrowing authority, none of which shows up on the federal balance sheet. It may have already reached its $100 billion limit; there are billions of additional requests for financing that may not get fulfilled if its charter is not extended and its debt limit is not increased.
The Administration has requested a 40% increase in
The Administration has requested a 40% increase in
The Poop On Groupon
From the Slope of Hope....
Only half a year ago, Groupon was the talk of the town. It was the biggest, hottest IPO on the horizon,and it was the darling of the social media industry. Imitators were everywhere, but there was one giant that was far ahead of everyone else: Groupon.
Well, one glance at a stock chart will show you just how much the biggest, hottest IPO has been embraced since it went public. I offer you the following:
Now that it's lost two-thirds of its peak value (which
Only half a year ago, Groupon was the talk of the town. It was the biggest, hottest IPO on the horizon,and it was the darling of the social media industry. Imitators were everywhere, but there was one giant that was far ahead of everyone else: Groupon.
Well, one glance at a stock chart will show you just how much the biggest, hottest IPO has been embraced since it went public. I offer you the following:
Now that it's lost two-thirds of its peak value (which
David Morgan "Myths in Silver" Interview California Resource Investment Conference 2012
http://www.youtube.com/v/p53o6gDRqFo?version=3&f=user_uploads&app=youtube_gdata
http://Silver-Investor.com
See the original video here:
David Morgan "Myths in Silver" Interview California Resource Investment Conference
http://Silver-Investor.com
See the original video here:
David Morgan "Myths in Silver" Interview California Resource Investment Conference
Budget Negotiations Fail, Elections Likely
Just a little snippet. Geert Wilders has walked away from the negotiations this afternoon. It may be about a purchasing power reduction of one percent for the lowest income class. This is what the rich fumblers at the CPB have calculated and is considered quite reasonable for them to swallow by some. Of course, the CPB has been wrong on occasion. The SP would like to see elections as quickly as possible, while Samson of the PvdA would like to see elections sometime in September and his
The European Political Games Have Hit the Point of No Return
European politics have hit the point of no return.
As I’ve noted in previous articles, politics, not economics, rule Europe. What I mean by this is that most major decisions in Europe are determined by political agendas that ignore economic and financial realities.
This is at the core of the “welfare state” mentality that permeates Europe as a whole. The EU in general is comprised of an aging population that is more concerned about receiving the pensions/ health benefits/
As I’ve noted in previous articles, politics, not economics, rule Europe. What I mean by this is that most major decisions in Europe are determined by political agendas that ignore economic and financial realities.
This is at the core of the “welfare state” mentality that permeates Europe as a whole. The EU in general is comprised of an aging population that is more concerned about receiving the pensions/ health benefits/
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