Focusing on current trends and ways to profit from them "There's a sucker born every minute. These are the people who believe that this time it's different. "
Saturday, April 25, 2009
Insider selling at record levels
http://jessescrossroadscafe.blogspot.com/2009/04/insiders-are-selling-into-this-rally.html
When did this last happen? Oct 2007. Hmm...I am sure it does not mean anything.
When did this last happen? Oct 2007. Hmm...I am sure it does not mean anything.
http://business.timesonline.co.uk/tol/business/economics/article6164629.ece
http://business.timesonline.co.uk/tol/business/economics/article6164629.ece
Spain is falling very quickly, we are talking major depression level unemployment at this point.
More than four million Spanish people are out of work. According to the country's National Statistics Institute a record high figure of 17.4 per cent were unemployed in the first quarter of the year.
Unemployment leapt from 13.9 per cent in the fourth quarter of 2008, the biggest quarterly jump since 1976. Joblessness in Spain has almost doubled in a year.
Spain is falling very quickly, we are talking major depression level unemployment at this point.
Friday, April 24, 2009
Thursday, April 23, 2009
Taliban Seize Vital Pakistan Area Closer to the Capital
http://www.nytimes.com/2009/04/23/world/asia/23buner.html?_r=1
The number #1 problem. Even above everything else.
The number #1 problem. Even above everything else.
FDIC underfunded and getting worse.
http://globaleconomicanalysis.blogspot.com/2009/04/fdic-woefully-underfunded-problem.html
The mass of programs the government is running is now having the opposite effect. We are now getting more systemic risk not less.
The mass of programs the government is running is now having the opposite effect. We are now getting more systemic risk not less.
Wednesday, April 22, 2009
Tim Geithner a nice in the wrong job
http://www.portfolio.com/executives/2009/04/22/Treasury-Chief-Tim-Geithner-Profile?page=3#page=3
Short points:
He is lacks knowledge.
He is does what summers tells him.
He has no clue WTF is going on.
Short points:
He is lacks knowledge.
He is does what summers tells him.
He has no clue WTF is going on.
Banks Reject U.S. Terms for Cutting Chrysler Debt
http://online.wsj.com/article/SB124034225632440083.html?
With 9 days to go, both sides are far apart. Also with so many lenders I would doubt we see this coming together.
They are worth more dead now to almost all the small lenders.
With 9 days to go, both sides are far apart. Also with so many lenders I would doubt we see this coming together.
This conflicting view is likely due to several things, such as the fact the larger banks bought or paid full price for billionsof Chrysler bank debt, while smaller holders bought theirs at a steep discount and would likely make a tidy profit even in a quick liquidation of Chrysler, said people involved in the talks.
They are worth more dead now to almost all the small lenders.
Federal Borrowing Quadruple
http://www.businessinsider.com/federal-borrowing-quadruples-2009-4
In the end more spending is not the answer. It will soon be time for hard decisions to be made.
“Tax receipts are just collapsing,” said Chris Ahrens, head of interest-rate strategy at UBS Securities LLC in Stamford, Connecticut, one of 16 primary dealers required to bid at Treasury auctions. The need to sell more debt “is a big issue in the Treasury market and it is ongoing. The surging budget deficit is the primary cause.”
In the end more spending is not the answer. It will soon be time for hard decisions to be made.
Tuesday, April 21, 2009
Pelosi Wall Street Probe Modeled on Pecora After Market Crash
http://www.bloomberg.com/apps/news?pid=20601110&sid=aX8OXwhcJXVU
It is about time.
Now lets at congress in action
Cause in the past shooting from the hip has worked so well.
Yeah I mean they need the money.
Not that any of that is happening today.
It is about time.
The Pecora review “was probably the single most important congressional investigation in the history of our country, except perhaps the Watergate hearings,” Donald Ritchie, associate historian for the U.S. Senate, said in an interview.
Now lets at congress in action
“I think it’s useful to have it, but that should not be a reason to hold off on legislating,” Frank, a Massachusetts Democrat, said of Pelosi’s proposal after a speech in Washington yesterday.
Cause in the past shooting from the hip has worked so well.
Members of Congress may be reluctant to tackle the recommendations of such an inquiry because of financial industry donations to political campaigns, said Wall Street historian Charles Geisst.
Yeah I mean they need the money.
In citing the Pecora model, advocates of a full-scale probe are harkening back to an investigation that captivated the nation in the 1930s. It centered on an intense examination of bankers and brokers and how their actions helped contribute to the stock market’s implosion.
Pecora exposed practices that benefited the wealthy at the expense of ordinary investors, such as giving favored clients insider prices on stock offerings, Ritchie said.
Not that any of that is happening today.
Student loan default rate soar.
http://online.wsj.com/article/SB124027600001437467.html
As an FYI to anyone thinking about student loans. Don't. These are some of them most restive loans every created. You can not go bankrupt on them. They have to paid just like taxes.
As an FYI to anyone thinking about student loans. Don't. These are some of them most restive loans every created. You can not go bankrupt on them. They have to paid just like taxes.
Right Person at the Right Time
http://www.nakedcapitalism.com/2009/04/right-wing-turns-on-elizabeth-warren.html
Hey Volker was hated in the 80's and now is consider a superstar.
Hey Volker was hated in the 80's and now is consider a superstar.
Monday, April 20, 2009
#24 and #25
http://www.businessinsider.com/banks-failures-up-more-than-1000-this-year-2009-4
The train is still picking up speed.
The train is still picking up speed.
Sin returns to Iraq
http://www.nytimes.com/2009/04/19/world/middleeast/19baghdad.html?hp
Gambling, drinking and Sex. All three should be free and taxed. This provides protection for both sides. It also allows legal protection for the sellers.
Gambling, drinking and Sex. All three should be free and taxed. This provides protection for both sides. It also allows legal protection for the sellers.
Let's check in on Gold
http://www.marketwatch.com/news/story/story.aspx?guid={F575CACC-0D18-43DD-86BB-DFE68FBE1F32}
As I stated at the begin of the year, we would talk a lot about how Gold does not perform as expected. Deflation is destroying value, including Gold, along with this as people start talking about recovery you can expect gold to fall as professional investor exit the trade. In the end Gold was near a top at $1000. It may go back someday but not this year.
As I stated at the begin of the year, we would talk a lot about how Gold does not perform as expected. Deflation is destroying value, including Gold, along with this as people start talking about recovery you can expect gold to fall as professional investor exit the trade. In the end Gold was near a top at $1000. It may go back someday but not this year.