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  • A wave of ratings downgrades to hit developed countries in coming years will spare Canada, says Citi's Mike Saunders. The 2012 federal and provincial budgets - while maybe putting a drag on near-term growth - should strengthen the country's already sound fiscal position.  [View news story]
    Until our government is downgraded from our coming housing collapse.

    At least our banks will be in good shape! Thanks to CMHC the first 25% loss on housing will be the taxpayers.
    Apr 19, 2012. 03:34 PM | 2 Likes Like |Link to Comment
  • Martin Wolf argues against the notion that the eurozone will fail: “The big idea that brings members together is that of their place within Europe and the world... If this were a mere marriage of convenience, a messy divorce would seem probable. But it is far more than such a marriage, even if it will remain far less than a federal union. Outsiders should not underestimate the strength of the will behind it."  [View news story]
    It will come down to "do the people believe it" not the will of politicians.
    Apr 18, 2012. 11:18 AM | 1 Like Like |Link to Comment
  • The U.S. and U.K. have agreed to release emergency oil stocks, reports Reuters. Brent Crude (BNO) -2%, WTI Crude (USO) -1.1%.  [View news story]
    The USA embarrasses itself again.

    What Emergency, Americans are now paying $2.00 per gallon less than people in other countries?
    Mar 15, 2012. 11:53 AM | 1 Like Like |Link to Comment
  • Treasury scrambled to convince S&P away from downgrading the U.S. in the days and hours leading up to the Aug. 5 move, according to newly obtained emails. As it became evident S&P was going to move ahead, Treasury desperately floated a story the ratings agency had muffed a simple calculation, but it was to no avail.  [View news story]
    What a bunch of creeps
    Feb 22, 2012. 10:44 AM | 5 Likes Like |Link to Comment
  • Canadian Housing Market Collapse: Part II [View article]
    Rodney, your article is very good but I take exception to the socialist comment. Our backstopping of the banks was through CMHC and yes the taxpayers will be on the hook in the end - how in your "Democratic" society are the taxpayers not paying for your housing and banking crisis? I guess socialism is above board, democracy only works til it cost the banks money and they are not allowed to fail, then taxpayer is responsible - can you explain how this is any different?
    Feb 15, 2012. 10:45 AM | Likes Like |Link to Comment
  • TEPCO (TKECF.PK -11.3%) says the damage to the #1 Fukushima reactor core is worse than previously described. The fuel rods are fully exposed, raising the question of where the 11M liters of water pumped in has gone. They “have consistently appeared to be underestimating the severity of the situation," says an American physicist.  [View news story]
    Ocean??? Raising a question for who - imbeciles? The plant sits at 2 feet above sea level.
    May 12, 2011. 12:31 PM | 1 Like Like |Link to Comment
  • The possible next PM of Canada, Jack Layton ventures into monetary policy, telling Reuters the BoC should hold off hiking rates due to sluggish employment and a strong currency. The loonie is unperturbed, erasing early losses and continuing to threaten multi-decade highs. FXC +0.3%.  [View news story]
    If Layton wins, please invade us.
    Apr 29, 2011. 01:11 PM | 2 Likes Like |Link to Comment
  • One down day for stocks, and the word is already out that the Fed might continue with QE Lite. Recent remarks by Yellen and Dudley that the economy and inflation are too weak to begin a reversal of monetary policy are interpreted as a signal that the Fed will keep its balance sheet at current levels by replacing ~$17B/month in maturing mortgage debt with Treasurys.  [View news story]
    Pathetic...if you guys consider your current economic conditions as a crisis that requires unprecedented monetary stimulus I shutter to think what your Fed will do if things really do get bad.

    You guys should take back your country and swallow the bitter pill for the benefit of your future generations.

    Instant gratification, no willingness to make tough decisions, the current legacy of the USA.
    Apr 19, 2011. 09:03 AM | 10 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    Doesn't it already seem like a myth? Man kind used to be amazing, now we are just pathetic.
    Apr 13, 2011. 01:04 PM | 3 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    It will be our mission, by the end of the decade, to almost put a man on the moon.
    Apr 13, 2011. 12:48 PM | 4 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    Such a lofty 2020 still spending more than you take in. Saving 4 Trillion!!!!! Spin is a wonderful thing.

    When did praise of mediocrity and failure become common place and acceptable.
    Apr 13, 2011. 12:40 PM | 5 Likes Like |Link to Comment
  • It's Going to Happen Again Unless Bernanke Is Brought to Heel [View article]
    The Federal Reserve System was conceived by bankers for bankers in the early 1900's. They couldn't name it "Central Bank" as in Europe. The government was trying to protect the people from the "money trust".

    Lets name it "Federal" to give it the illusion of being a legitimate institution. Lets also put "Reserve" after Federal so people think we actually have reserves. The Fed has a check book but has no bank account with money in it.

    Inflation is the only tax that governments can impose on their citizenry without inciting riots. Inflation allows governments to borrow at a whim to satisfy pet projects and delay tough decisions.

    The Federal Reserve is allowed to create money out of nothing and charge interest on that nothing, pretty good gig if you can get it. In order to keep up with the charade you need a partner, that is your federal government.

    It worked very well for the first 60 to 75 years. Investors are much more informed nowadays, thanks to mass media and dissemination of information it is harder for the fed to stay ahead of all the sheeple.

    Perhaps the fed actions are no longer working because investors understand more clearly exactly what is going on. Investors are trying their best to preserve wealth and buying power because they know the Fed is no longer trying to "stimulate" the economy but is actively destroying your dollar to give the illusion of wealth creation.
    Apr 5, 2011. 11:09 AM | 10 Likes Like |Link to Comment
  • Whirlpool (WHR +2%) fights back against an influx of refrigerators from South Korea and Mexico by filing an antidumping suit against Samsung and LG. Whirlpool wants a probe into bottom-mount fridges being sold at less than fair value in the U.S., and into South Korea's subsidies.  [View news story]
    Learn how capitalism works whirlpool, pack up and leave. Increase profits by lowering costs through producing your goods in China. Don't whine for the government to impose tariffs that block free trade, sounds very communist in nature.
    Mar 30, 2011. 11:10 AM | 2 Likes Like |Link to Comment
  • Aiming to increase its rig count to ensure continued spare production capacity, Saudi Arabia has met with oil service companies, including Halliburton (HAL). "It's definitely not for expanding capacity," says an analyst, arguing the increased investment is necessary just to maintain production levels.  [View news story]
    Whats the panic - no oil?

    Anyone wonder why the Saudis are spending money like crazy on an offshore heavy oil field called manifa to produce a paltry 900K BPD?

    Why does the UAE have to increase production to help offset the loss of 1.0 million BPD of Libyan production? Where is this 3.0 million BPD of spare production?

    They wouldn't be overstating their reserves would they?

    Oil should be $300/barrel until they allow 3rd party reservoir auditors to tear apart their books.
    Mar 29, 2011. 09:00 AM | Likes Like |Link to Comment
  • PetroBakken Energy: Some Insider Buying Moves More Noteworthy Than Others [View article]
    Devon Shire, I do not pay for the subscription to so it only shows the last 10 transactions. The buying at $29.00-27.50 was not at all significant, same as the purchases I have seen between $19.00-$22.00, point I was making is that each time this stock has taken the hit to new lower levels there has always been some insider buying.

    Since 2009 PBN has hit new lower lows every 3 to 4 months, when recovering it made lower highs. The chart is terrible.

    There definately has been some better size purchases lately (65000 shares Craig Lothian on March 15th - probably +/- $17.50 ish). These guys might also be averaging down so who really knows.

    This stock should be trading higher than it is but has me puzzled since being stopped out twice so far when I thought it could go no lower. Every analyst I see on BNN that comments on it usually mentions failure to execute or lost faith in management but they also say it presents good value at current levels, and then it keeps dropping to new lows.

    Crescent Point is the darling of the analysts/brokerage houses but seems to highly priced for my liking. PBN should get some respect eventually as they have excellent assets and are highly levered to higher oil prices. It's either a fantastic at these levels or continues to be a value trap.

    Like I said I am going to try and pick some up in the mid seventeen's if the opportunity presents itself again. Knowing my luck it will trade steadily towards 24 to 25 with no breakdown.

    Good Luck
    Mar 23, 2011. 04:32 PM | 1 Like Like |Link to Comment