Yankee Running Dog

Friday Outlook: Commodities, Global Markets

Dave,

By the way, Kudlow the Clown is now pimping changing the mark to market rule. Who could have guessed...

Friday Outlook: Commodities, Global Markets

Changing the rules on Marked to Market? What shameless fraud. When the 30 to 1 air money was pouring down on everyones heads and Marked to Market helped pump the whole Ponzi scheme up, up up, no one was complaining about Marked to Market. Of course not, that is what it is designed to do, pimp and pump the bull market version of reality of air money. When things turn south (just take a look around!) and no one can quite seem to get their hands on the disappearing air money, the Ponzi scheme gets a little shaky. So just move the goal posts, rewrite the marked to market rules so all of that bad air money can dissappear or at least be hidden under a rock somewhere. And who knows, if the Zombie banks like Citi and Bank of America get nationalized with taxpayer money, then the taxpayer will have to pay top retail dollar for crap. Think that would make the Wall Street banking crowd smirk. Quoting David Fry, innocent people are losing their jobs while the fraudsters are still on their yachts ( except for Madoff, the sacrificial lamb!)

Tuesday Outlook: Commodities, Emerging Markets

Hey, Jack the Ripper and the Easter bunny,

Go have a drink and chill out, unbridled arrogance gets boring fast.

Yankee Running Dog

Tuesday Outlook: Commodities, Emerging Markets

Owen,

Spoken like a true insider... Sounds like Dave hit a nerve with you, perhaps you are the insider Shill.

Tuesday Outlook: Commodities, Emerging Markets

Nothing like a whipsaw to make us all humble. I still have my ETF shorts and am thinking along the lines of Nationalize Everything above. There still is going to another nasty downdraft. I start to feel naked without the shorts.

Here is my dime store philosophy for the day:

The quick and dirty cure for the financial meltdown is for the world to basically declare itself bankrupt and all debt is written off at 9 am tomorrow morning and there is a new beginning.. 95% of the worlds population would love it, 5 % that controls all the money and power would hate it, as they would have to go to end of the line. It is a shame that the fraudsters are going to make the 95% go down with them, just so they can keep their position at the top of the pile.

Tuesday Outlook: Commodities, Emerging Markets

Two comments today.

One is just about all of my short ETFs are gone. I put very high limits on them, most above any previous rocket high, and almost all have been taken out. Its like watching a rocket punch up and hand you some money.. So I am now waiting for the next dead cat bounce or sucker rally or whatever it will be to load up on Ultra short ETFs.

Two, are we going to see deflation or inflation. After reading some history from 1929 to 1933, after the banks seized up, prices of just about everything went down... Not hard to imagine if no one is buying. Seems like that mentality is starting to take hold now. I am not sure what gold will do if there is deflation now. Back in the 1930's currencies were rolling off the gold standard and then Uncle Bucky seized all the gold in the USA so we cannot look to that as a lesson. I certainly agree with the billions soon to be trillions pumping out the Fed window, there has to be a dilution of the buck and many argue for inflation. Right now, my instinct tells me that deflation is just around the corner.. and capitalism does not work well in deflation, nothing to feed the greed. This could be back to Hobbs natural state where life is "short, nasty and brutish". How long can you make a living shorting the market?

Friday Outlook: Commodities, Emerging Markets

I have read another reason for the strong dollar. This comes from Chuck Butler from Everbank who writes a daily blog called "The Daily Pfennig"

"One of the things we've learned this week is that the European banks are not getting to go Ollie, Ollie Oxen Free, on the holding of toxic waste debt... And since they are U.S. issued mortgage bonds, the trader that called tells me that they need to have capital reserved in U.S. dollars. Well, usually, these banks use LIBOR for this funding... But with the credit crunch going on all over, LIBOR rates have gone through the roof. So... Looking for alternative means of raising capital, the European banks have turned to the euro / dollar swap market... Selling their euro reserves and buying dollars"

The libor rate does not seem to be coming down any time soon, so Uncle Bucky could be strong for a while. Not good for all the foreign currency ETFs I hold.

Thursday Outlook: Commodities, Emerging Markets

Thanks for the link to the SEC website the other day, this stuff really opens your eyes...It all starts sounding like a badly scripted cartoon. Let me see, we got to make "le petite bourgeois" feel like democracy actually is working so Round 1 in the house goes to "the people" Then quietly slip in the rule change on Marked to Market so that King Henry can make sure to rip off the taxpayer by buying illiquid lumps of SH*& at retail prices instead of what they are worth, nothing. The bill passes and everyone pats themselves on the back, democracy works, congress can work together and come up with effective legislation in a crisis and the world is saved... Or is it?. Bush is starting to look like the sage with his pronouncement last week, "This sucker could go down"

One sidebar on the marked to market rule change. When cheap fed money fueled a huge bubble and prices were skyrocketing, the banks were not complaining about the marked to market, it overvalued their assets and they were happy. When it goes the other way, time out, rule change and now we can make the US taxpayer buy up our lumps of sh$# at overvalued prices... Why is not someone going to jail? I mean after all, its just a few billion (probably about 200!) of taxpayer money.

Does anyone know a good liquor stock to invest in, I need a drink!