Louis Gerstner: Kill The Casino Wall Street Has Become

Louis Gerstner: Kill The Casino Wall Street Has Become
It is clear something is wrong in the markets. I can only assume someone is playing the music. When they stop the you better grab a chair and hold on.

Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression"

Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression"
Must Read of the day

H1N1 Update

http://health.utah.gov/epi/h1n1flu/sitrep062409.pdf

Some Ugly stats coming out of the CDC. Lets hope it gets no worse.

A category 2 pandemic has the following characteristics: • Case fatality ratio
of 0.1 percent to less than 0.5 percent.
• Between 90,000 and 450,000 deaths
in the U.S. (compared with estimated 36,000 deaths during a typical influenza
season).
• Excess death rate of between 30 to less than 150 per 100,000
people.
• Illness rate of between 20 and 40 percent

　

　

California set to issue IOUs as fiscal crisis weighs | U.S. | Reuters

California set to issue IOUs as fiscal crisis weighs U.S. Reuters
Next week could be ugly. No signs of closing the gap soon and washington so far says no bailout. Are we really going to play chicken with the 8 largest GDP in the world?

Gross Domestic Product and Corporate Profits

News Release: Gross Domestic Product and Corporate Profits
Q1 -5.5%. Ouch unless we get some serious wind it be negative for the whole year. At this point it does not look like any wind is blowing.

US credit card chargeoffs break new record - Moody's | Industries | Financial Services & Real Estate | Reuters

US credit card chargeoffs break new record - Moody's Industries Financial Services & Real Estate Reuters
More problems in Credit Cards. Just think we are only in the begin as unemployment shows no signs of stopping.

Some Common Fallacies About Inflation and Deflation: the Weimar Nightmare in Review

Jesse's Café Américain: Some Common Fallacies About Inflation and Deflation: the Weimar Nightmare in Review
An excellent read. I tend to agree with Jesse on this one.

States Turning to Last Resorts in Budget Crisis - NYTimes.com

States Turning to Last Resorts in Budget Crisis - NYTimes.com
The time is short to fix the mess before we go off the deep end. Cuts now or else.

Scientology: The truth rundown Muat read of the day

Scientology: The truth rundown Tampabay.com St. Petersburg Times#story_anchor

The Climate Bill Is Now 1,201 Pages Long

The Climate Bill Is Now 1,201 Pages Long
They where elected to lead not to read. Sheshs.

The Animal Spirits Page: On the coming neo-feudalism

The Animal Spirits Page: On the coming neo-feudalism
IS this really where we are heading? I think it is dream that China will have any economic power. They are our twin. Producing everything we consume. When we stop the wheels come off. Yes I expect Riots here. Yes I expect Obama to not be the savior. But in the end creative destruction will sow the seeds for recovery. What that looks like no one knows.

News from 1930

News from 1930
A cool site, more then a little scary in some cases.

Col. Ayres, VP Cleveland Trust, predicts an abrupt recovery in stock and
commodity prices by Labor Day due to current consumption exceeding production.
Distinguishes between two types of depression, “V”-shaped and “U”-shaped.

Insider Selling Outpaces Buying 22x

Insider Selling Outpaces Buying 22x
Hmm..Wonder who they are listen too. Cause CNBC is sure the bottom is in. I would be selling too if I owned company stock.

Three Banks Suspend Their TARP Dividends - WSJ.com

Three Banks Suspend Their TARP Dividends - WSJ.com
Guess the green shoots did not grow near these banks.

The Fed Plots The Next Disastrous GSE

The Fed Plots The Next Disastrous GSE
More bad idea's from the Fed.

TigerHawk Scary chart of the day

TigerHawk

China - Economic Catastrophe Unfolding

Zero Hedge: Guest Post: China - Economic Catastrophe Unfolding
Excellent read. China is hidding its problems. When they are flushed out you will see a massive drop in there markets.

Banks Fail in Georgia, North Carolina, Kansas

Mish's Global Economic Trend Analysis: Banks Fail in Georgia, North Carolina, Kansas
Since I was off this weekend I still catching up.

Bond Market Plays

It looks like we may get some bond prices declines in the next year or so.
If you want to profit from it.

~ UltraShort 20+ Year Treasury ProShares (NYSE: TBT): This ETF is not for the faint-hearted. It seeks to perform at twice the inverse results of the Lehman Brothers 20+ Year U.S. Treasury Index. So if the Index drops 5%, TBT should return rise about 10%

.~ ProFunds Rising Rate Opportunity (RRPIX): This is a mutual fund that also seeks the inverse performance of the bond market. Its results aim to correspond to 125% of the inverse of the daily movement of the 30-year Treasury bond.

Jobless Rate Hits 11.5% In Calif; 11.1% In The Valley

Tech Trader Daily - Barron’s Online : Jobless Rate Hits 11.5% In Calif; 11.1% In The Valley
As California goes so goes the USA. It is clear the stress test was a a pipe dream.