Black swan

http://zerohedge.blogspot.com/2009/04/incredibly-shrinking-market-liquidity.html

The swan is now ready for flight. I point to the call for Deep puts on the S&P. I not the only one to see something bad is in play. We are now looking at another crash. This one will be bloody and will destory all the Players who listen to CNBC and its cheerleaders.

Meet the new boss same as the old Boss: Obama follows Bush

http://www.salon.com/opinion/greenwald/2009/04/09/tpm/

Since the markets are closed, going with a little polictics today

Tomorrow's headlines: Foreclosure soar

http://zerohedge.blogspot.com/2009/04/california-foreclosures-about-to-soar.html

Also what is up with the shadow foreclosures?

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/08/MNL516UG90.DTL&type=business

Is GE already Broke?

http://www.businessinsider.com/henry-blodget-living-on-planet-ge-2009-4

Firesales underpricing toxic assets

http://www.businessinsider.com/how-can-mortgage-securities-be-worth-so-little-when-houses-arent-going-to-zero-2009-4

Megan McArdle at the Atlantic's Business blog raises two objections.

1 If toxic assets aren't underpriced, we're all in "big, big, BIG trouble."
2 The market prices for toxic assets don't reflect reasonable expectations of cash flows.

My own take, I agree #1 is lament not a response or a attack against the statements.
#2 if I its worth a penny is that better then zero? In the end most of this stuff is worthless or near worthless. The semantics between the two make little difference

Must read of the day: The pension tsunami is about to hit

http://pensionpulse.blogspot.com/2009/04/checkmate-for-pensions.html

This is just another weight dragging us down.

How To Make The World Black-Swan Proof

http://www.businessinsider.com/henry-blodget-nassim-taleb-how-to-make-the-world-black-swan-proof-2009-4

An excellent start.

Moody's Downgrades The Whole Country

http://www.businessinsider.com/moodys-puts-all-munis-on-negative-outlook-2009-4

But it seems overspending and the hollowing out of the revenue base is a nationwide phenomenon affecting cities and states everywhere

I would re-read that story from Ireland. We are approaching it quickly as well.

1000 Posts

Whoa!
Back to normal posting.
Thanks everyone!

Today's Must Read: Bailout 101

http://zerohedge.blogspot.com/2009/04/bail-out-for-dummies-part-1.html

Russia First Quater GDP -7%

http://fistfulofeuros.net/afoe/economics-country-briefings/russias-economy-contracts-by-7-in-q1-2009/

Central Bank says don't worry the economy will recover by Q4.

Irish Emergency Budget Aims to Avert ‘Grave Crisis’

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBxWJ.qKLWsM

Once again Ireland is just a little ahead of the UK and USA.

“The S&P downgrade was a kick up the backside,” said Jim Power, chief economist at Friends First in Dublin. “There is a short-term firefighting issue in the budget and a longer-term sustainability issue.”

World's economy is falling faster then the Great Depression

http://www.nakedcapitalism.com/2009/04/world-economy-falling-faster-than-in.html

Tied with other events it looks like we are still preparing for a massive event in the stock market.

FDIC and the no Risk investment

http://www.nytimes.com/2009/04/07/business/07sorkin.html?_r=1

I was speechless the first time I read this. The second time my only thoughts where maybe we need a recourse against Shelia Bair. Like she goes to jail if this fails.
It is appalling what is going down.

Tax Revenue Drops by 30%

http://www.businessinsider.com/federal-deficit-hits-1-trillion-through-half-the-year-2009-4

Tied with the fact it looks like the government is failing to protect us from the elite.

http://www.businessinsider.com/inflation-is-a-sign-our-government-is-hijacked-by-the-elites-2009-4

Shows more signs we are watching the great looting of America.

CALPERS doubles down, Has no clue what the hell they are doing

http://www.minyanville.com/articles/index/a/22055

In a sign that management of the largest Pension fund have no clue how to run an investment fund. This is one however could destroy millions of lives. It is time some people wake up and smell the coffee before it is too late.

Today's Must Read: S&L Regulation Heavywieght William Black Charges Geithner, Summers and Obama With Banking Cover-Up

http://dailybail.com/home/sl-regulation-heavywieght-william-black-charges-geithner-sum.html

A great summary of why people should be going to jail and not getting government hand outs.

Insurance Industry in Big trouble

http://www.businessinsider.com/insurance-industry-faces-biggest-wave-of-insolvencies-in-decades-2009-4

Moving to Short Metlife and Prudential.

Enron and Bankers

http://rortybomb.wordpress.com/2009/04/05/banks-as-bidders-and-sellers-financial-nostalgia/

One has to wonder if we are just trying to crash the system at this point.

Switzerland another problem child?

http://ftalphaville.ft.com/blog/2009/04/06/54509/tick-tick-tickswitzerland/

Weird Chart patterns

http://www.businessinsider.com/henry-blodget-todays-bear-market-now-not-as-bad-as-the-great-crash-2009-4

I am sure it means nothing we are now paralleling the moves of 1931.

Geithner Wrong, Crap Assets Correctly Priced, Say Harvard And Princeton Profs

http://www.businessinsider.com/insolvent-banks-and-imaginary-fire-sales-2009-4

The feelings against the TARP and others continues to show it is not working and cause more problems.

US watchdog calls for bank executives to be sacked

http://www.guardian.co.uk/business/2009/apr/05/useconomy-regulators

Elizabeth Warren, chief watchdog of America's $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives from Citigroup, AIG and other institutions that have received government funds in a damning report that will question the administration's approach to saving the financial system from collapse.

Finally someone gets it in the administration!