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Michael Clark  

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  • Enjoy today's pending home sales gain while the going's good, Capital Economics' Paul Dales says, noting that a 39% four-week plunge in mortgage applications signals what's around the corner. With the homebuyers credit now finished, "it is only a matter of time before the underlying weakness of the housing market becomes uncomfortably clear."  [View news story]
    Heading down to examine the root-system. The high tide is reverting to the low tide (low tide in 2019), where all the bodies, garbage, and crime has been hidden, soon to be exposed.
    Jun 5, 2010. 04:18 AM | 2 Likes Like |Link to Comment
  • Interview: Jim Rogers on Currencies and Inflation [View article]
    Actually, when we finally, really sink into the global morass, and global industry dives again, who is going to need copper and aluminum, iron ore and platinum. We WILL still need corn and rice and cattle (less cattle than wheat probably).

    The Chinese have been gobbling up commodities to stock-pile. Those stock-piles will look a bit silly if the prices keep going down.

    Monthly charts in ETFs in copper, industrial metals, oil, US gasoline all look very scary -- each has broken down through their 200-day moving average.

    VIX has broken through its 200-day MA for the first time since 2008.

    Harder times coming.
    Jun 5, 2010. 04:15 AM | 18 Likes Like |Link to Comment
  • Interview: Jim Rogers on Currencies and Inflation [View article]
    Aren't we all! Especially in this Night-Cycle era when there ARE NO solutions. Time will fix us. Time, and higher interest rates.
    Jun 5, 2010. 04:10 AM | 13 Likes Like |Link to Comment
  • Interview: Jim Rogers on Currencies and Inflation [View article]
    Thank you, Theresa. You get an A+ for reading.
    Jun 5, 2010. 04:09 AM | 13 Likes Like |Link to Comment
  • Interview: Jim Rogers on Currencies and Inflation [View article]
    He said doesn't lie about inflation. At least that is how I read it.

    Of course, China's government lies. All governments lie. But, his point, was that all governments don't like about inflation.
    Jun 5, 2010. 04:08 AM | 9 Likes Like |Link to Comment
  • How Job Creation Actually Totaled 787,000 [View article]
    Get a better seat on the Titanic, quickly! You can watch the sun going down better if you're closer to the railing!
    Jun 5, 2010. 04:01 AM | 8 Likes Like |Link to Comment
  • Swiss Central Bank Folds Its Hand [View article]
    Think about which Euro stocks will do well in Depression and in potential war build-up. Chemicals surely. Munitions plans.
    Jun 5, 2010. 03:54 AM | Likes Like |Link to Comment
  • S&P500 Stuck Below Its 200-Day Average [View article]
    The VIX is also above its 200 day moving average, for the first time since 2008.

    XCI, the Computer Index, also looks pretty treacherous vis-a-vis 200 day ma.

    DBO, Oil ETF, and CUT, Timber ETF, JJC, Copper ETF, as well. What recovery?
    Jun 5, 2010. 03:11 AM | Likes Like |Link to Comment
  • About That Stock Market Rally? Why It Might Be Over After All [View instapost]
    Wringing out excess liquidity. 'Excess liquidity' describes the Flood. The Flood describes the 'end of the world'.

    Noah describes the Dawn after the world is destroyed by water.
    Jun 5, 2010. 03:04 AM | 1 Like Like |Link to Comment
  • Should Investors Boycott the Stock Market? [View article]
    This evolution of the Federal Reserve's responsibility has escaped legislative approval. It does not seem sporting to eliminate risk to speculators who can make $100 million a year when the trade works. (Long-Term Capital Management is an example of 100-to-1 leverage that failed.) Rather than an investment, this looks more like a racket.
    This is really a racket when the game insures against loss by holding the American Taxpayer hostage when the game goes bad. You win when you win, which is almost always, because the game is rigged; then you win when you lose by going to Congress with a gun, with threats, with tears, with fears.
    Jun 5, 2010. 02:56 AM | 2 Likes Like |Link to Comment
  • Hungary: Europe's Latest Bailout Target [View article]
    The fall of socialism? The fall of civilization is more like it. If you're in living in Europe, you'd better practice your goose-step.

    Is this how capitalism destroys socialism,by committing suicide?
    Jun 5, 2010. 01:44 AM | 1 Like Like |Link to Comment
  • Hungary: Europe's Latest Bailout Target [View article]
    Go ahead, pile on!

    Or as our friend, Banker Krugman says: "Go ahead, pile on the debt! Debt doesn't matter!"
    Jun 5, 2010. 01:42 AM | 5 Likes Like |Link to Comment
  • May Employment Report Indicates Economy in Trouble [View article]
    Good point, TK.

    Along this point, it used to be that unemployed workers went back to the university when the economy hit the wall: re-tool, upgrade skills and knowledge. But it used to cost almost nothing to go to school. I went to school in the 1970's, got a 4-year degree, got out with a debt of $1500. Today students get out of school with debts of $50,000-$200,000. School is a good place to hide when the depression hits, but not when it's going to put you in a $100,000 hole. When will we need an army of architects again? 20 years?
    Jun 5, 2010. 01:40 AM | 6 Likes Like |Link to Comment
  • Hungary: Europe's Latest Bailout Target [View article]
    Did Goldman Sachs teach Hungary how to lie about its deficits, like it taught Greece to lie?

    "We need a clean slate.." to start over again....

    Don't we all!
    Jun 4, 2010. 01:06 PM | 6 Likes Like |Link to Comment
  • Bill Gross on Jobs Report: Economic Growth Doesn't Appear Self-Sustaining [View article]
    Liquidating bad debts was the first and foremost need -- and the one that seemed to threaten the power establishment the most. Hence, they pretended their were no bad debts, just bad timing. The idea that history is going to save us from ourselves is astonishingly obtuse and turbid. (Not often I get to use those two words together.)
    Jun 4, 2010. 12:41 PM | 5 Likes Like |Link to Comment