Does The USD Deserve Its Recent Surge Of Popularity? [View article]
What is so difficult to understand about US markets and the US dollar? It's all about relativity: Europe is falling apart, Japan has a bleak future with no babies and money printing without end - and China isn't transparent.
There are billions, perhaps trillions of dollars/euros/yen desperately searching for safe yield. As the global situation has gotten worse, the urgency has become greater. Money is becoming a sort of refugee, terrified by tyrants, thugs and politicians whose credibility declines by the week ("Your deposits are safe").
The US economy is a prostitute with herpes. All the other hookers have AIDS. Take some precautions and maybe you'll be fine
The bailout rejected, what's next for Cyprus? Open Europe suggests the EU will allow a few days for Cypriot MPs to get their minds right before the ECB thinks about cutting off funding for the country's banks (which would lead to their collapse). Or not. Reuters' Anatole Kaletsky notes the ECB needs two-thirds of its board to cut off ELA funding, and the Germans don't have the votes. "Time to get bullish ... German U-turn ahead!" [View news story]
I fully agree with the dominant opinion here. Germany and the ECB will capitulate and Cyprus will get what it wants.
There are other factors at work here involving the Russian Mafia. Even Gartman warns that people could get killed if they don't cooperate. This situation will create a degree of moral hazard unseen in all human economic history as Italy, Spain, Ireland and all can do as they wish because of Euro-Cowardice.
With their banks capitalized 1 to 26, They Have No Choice but to print Euros with wild abandon. As Jim Cramer said, "we all know this will not end well". Indeed.
Crisis on. S&P 500 futures -1% and the euro -1.2% as Brussels "faced with a drowning member state, instead of throwing the Cypriot people a lifebuoy, (throws) a millstone around its neck." EU leaders risk triggering bank runs in Cyprus (and elsewhere?) by going after bank depositors to fund the country's bank bailout. [View news story]
It was reported that Cypriot leaders explicitly denied that any deposit haircut would be allowed - shortly before they agreed to this.
Why do Europeans even bother with voting? They have no say in their future, it's decided in Brussels or Germany.
China has unveiled plans to break up its powerful Railways Ministry as part of a major overhaul of government designed to cut corruption and bureaucracy. The transport department will take administrative control of the country's railways, while the the commercial operations will be spun off into a new company. "The new leadership is sending a clear message that they are...serious about building a cleaner and more efficient government," says university professor Chen Yao. [View news story]
nobody ever talks about this but a huge number of China's leaders have had engineering degrees. We're seeing what would happen if engineers ran a society instead of politicians.
"If capitalism is America’s biggest problem, why save it?" asks MarketWatch's Paul Farrell. "Wall Street, Corporate America, Big Oil and the entire economy been transformed into a bizarre circus Adam Smith would never recognize. Capitalism is now an out-of-control Frankenstein monster that changed everything." Not that Farrell provides any alternatives. [View news story]
Every statement has a context. What does it tell you, that such a remark can be made publically, by such a person and published on a site such as SeekingAlpha?
It tells you that we are headed over a cliff - martial law, civil war and a shutdown of the markets. If you believe that I'm wrong, I suggest you go to ANY store in your area that sells guns or ammo and observe what ordinary Americans are preparing for. Why are our leaders triggering a gun buying panic? Why doesn't some statesman say, 'This is crazy. The people are afraid' ?
Because they have run out of ideas. There is nothing left but try to grab guns and pass ever more laws to restrict rights.
A judge lets stand the FHFA's lawsuit against JPMorgan (JPM) accusing the bank of misleading Fannie and Freddie into buying as much as $33B of poorly underwritten mortgages. [View news story]
They bail 'em out and then fine 'em?
Tom Waits was right: 'the large print giveth and the small print taketh away'
American Express (AXP) and Wal-Mart (WMT) launch Bluebird - "an alternative to debit and checking accounts." The service appears designed to allow customers the sorts of things they're used to, but no longer getting for free from basic checking. The most immediate casualty is Green Dot, which now must face cheaper competition from its largest customer (Wal-Mart). GDOT -14% premarket. (PR) [View news story]
Amidst all this talk of how wonderful and valuable to the economy the TBTF banks are, the apologists never mention allowing Walmart to create its own bank.
The Troika is set to blink and approve the next €31B tranche of Greece's bailout despite the country being behind on its budget and reform targets, two German magazines have reported. Greece needs the cash to avoid bankruptcy and exiting the eurozone, a scenario that the bloc fears would lead to a domino effect. The troika was due to arrive in Athens today for more talks. [View news story]
So, there are no standards in this, right? No hard goals to be met by Greece ? They fail and fail and fail but get the cash anyway.
"Financial markets cheer the death of the Bundesbank," goes the headline in conservative German newspaper Die Welt. "The central bank is pumping unlimited money in the bond markets ... for Germany begins the nightmare." The Germans love their Buba, but one wonders if Dax 8000 might lighten the mood. [View news story]
If the Germans allow this nonsense, then they deserve their fate.
Is the U.S. better off than four years ago? When it comes to energy, Duke Energy (DUK) CEO Jim Rogers says yes: "Are we better off in terms of efficiency? We see per-home usage of electricity declining… We [have had] two license[s] for nuclear plants issued. We have abundant supply of natural gas at low prices... [In] the various ways to generate electricity, we’re better off today." [View news story]
Today, the DNC removed "God" from being mentioned in their platform, along with support for Israel. Their leader seems to be an inept guy out of nowhere, with a sketchy past and no real ability - other than giving speeches. Oddly, they refuse to acknowledge this fairly obvious fact because of some sort of affirmative-action ethic. He seems to have no plan whatever - other than racking up more national debt.. oh, and taxpayer funding of abortion (DNC latest).
Lewis Black said it best: The Republicans are the party of bad ideas and the Democrats are the party of no ideas.
Why A Grexit Is Not Going To Happen [View article]
Good Grief...... do you really believe this endless bailout of Greece is politically sustainable? Eventually, the people of Europe actually have some say in the matter, incredible as that might seem - Germans in particular.
And who says Greece ever recovers? or turns around? or becomes self sustaining? That's strictly an article of faith. Likewise Spain, Italy and Portugal.
A hard exit by Greece would be beneficial! It would be a warning example to others! Actual Discipline ! This Could Happen To You
The Bigger Fool theory seems to have solid support. I cannot fathom the utter lack of reaction to Corzine's follies. Why haven't all investors pulled out of these funds when law enforcement doesn't exist?
The same goes for the TBTF banks. If they can nakedly forge documents on a factory level, what is secure?
As for market levels generally, I also cannot understand HFT because it resembles a bunch of Vegas casinos that, lacking tourists, simply gamble in each others betting facilities. What's the point? Are market levels mostly an illusion?
Japan Isn't Bankrupt [View article]
Stop making babies. Die off as a nation. Goodbye.
Does The USD Deserve Its Recent Surge Of Popularity? [View article]
There are billions, perhaps trillions of dollars/euros/yen desperately searching for safe yield. As the global situation has gotten worse, the urgency has become greater. Money is becoming a sort of refugee, terrified by tyrants, thugs and politicians whose credibility declines by the week ("Your deposits are safe").
The US economy is a prostitute with herpes. All the other hookers have AIDS. Take some precautions and maybe you'll be fine
The bailout rejected, what's next for Cyprus? Open Europe suggests the EU will allow a few days for Cypriot MPs to get their minds right before the ECB thinks about cutting off funding for the country's banks (which would lead to their collapse). Or not. Reuters' Anatole Kaletsky notes the ECB needs two-thirds of its board to cut off ELA funding, and the Germans don't have the votes. "Time to get bullish ... German U-turn ahead!" [View news story]
There are other factors at work here involving the Russian Mafia. Even Gartman warns that people could get killed if they don't cooperate.
This situation will create a degree of moral hazard unseen in all human economic history as Italy, Spain, Ireland and all can do as they wish because of Euro-Cowardice.
With their banks capitalized 1 to 26, They Have No Choice but to print Euros with wild abandon. As Jim Cramer said, "we all know this will not end well". Indeed.
Crisis on. S&P 500 futures -1% and the euro -1.2% as Brussels "faced with a drowning member state, instead of throwing the Cypriot people a lifebuoy, (throws) a millstone around its neck." EU leaders risk triggering bank runs in Cyprus (and elsewhere?) by going after bank depositors to fund the country's bank bailout. [View news story]
Why do Europeans even bother with voting? They have no say in their future, it's decided in Brussels or Germany.
China has unveiled plans to break up its powerful Railways Ministry as part of a major overhaul of government designed to cut corruption and bureaucracy. The transport department will take administrative control of the country's railways, while the the commercial operations will be spun off into a new company. "The new leadership is sending a clear message that they are...serious about building a cleaner and more efficient government," says university professor Chen Yao. [View news story]
So far, not so bad..
"If capitalism is America’s biggest problem, why save it?" asks MarketWatch's Paul Farrell. "Wall Street, Corporate America, Big Oil and the entire economy been transformed into a bizarre circus Adam Smith would never recognize. Capitalism is now an out-of-control Frankenstein monster that changed everything." Not that Farrell provides any alternatives. [View news story]
It tells you that we are headed over a cliff - martial law, civil war and a shutdown of the markets. If you believe that I'm wrong, I suggest you go to ANY store in your area that sells guns or ammo and observe what ordinary Americans are preparing for. Why are our leaders triggering a gun buying panic? Why doesn't some statesman say, 'This is crazy. The people are afraid' ?
Because they have run out of ideas. There is nothing left but try to grab guns and pass ever more laws to restrict rights.
A judge lets stand the FHFA's lawsuit against JPMorgan (JPM) accusing the bank of misleading Fannie and Freddie into buying as much as $33B of poorly underwritten mortgages. [View news story]
Tom Waits was right: 'the large print giveth and the small print taketh away'
American Express (AXP) and Wal-Mart (WMT) launch Bluebird - "an alternative to debit and checking accounts." The service appears designed to allow customers the sorts of things they're used to, but no longer getting for free from basic checking. The most immediate casualty is Green Dot, which now must face cheaper competition from its largest customer (Wal-Mart). GDOT -14% premarket. (PR) [View news story]
Why is that, I wonder?
The Troika is set to blink and approve the next €31B tranche of Greece's bailout despite the country being behind on its budget and reform targets, two German magazines have reported. Greece needs the cash to avoid bankruptcy and exiting the eurozone, a scenario that the bloc fears would lead to a domino effect. The troika was due to arrive in Athens today for more talks. [View news story]
"Financial markets cheer the death of the Bundesbank," goes the headline in conservative German newspaper Die Welt. "The central bank is pumping unlimited money in the bond markets ... for Germany begins the nightmare." The Germans love their Buba, but one wonders if Dax 8000 might lighten the mood. [View news story]
Failed German Auction Shows Why ECB's Latest Plan Won't Work [View article]
Is the U.S. better off than four years ago? When it comes to energy, Duke Energy (DUK) CEO Jim Rogers says yes: "Are we better off in terms of efficiency? We see per-home usage of electricity declining… We [have had] two license[s] for nuclear plants issued. We have abundant supply of natural gas at low prices... [In] the various ways to generate electricity, we’re better off today." [View news story]
Lewis Black said it best: The Republicans are the party of bad ideas and the Democrats are the party of no ideas.
Why A Grexit Is Not Going To Happen [View article]
And who says Greece ever recovers? or turns around? or becomes self sustaining? That's strictly an article of faith. Likewise Spain, Italy and Portugal.
A hard exit by Greece would be beneficial! It would be a warning example to others! Actual Discipline ! This Could Happen To You
Can Merkel Save Germany? [View article]
This appeared to be backed up by France and Netherlands. I think they all want Greece out but don't want to be blamed for it.
Why Equities Will Not Drop By 25% [View article]
The same goes for the TBTF banks. If they can nakedly forge documents on a factory level, what is secure?
As for market levels generally, I also cannot understand HFT because it resembles a bunch of Vegas casinos that, lacking tourists, simply gamble in each others betting facilities. What's the point? Are market levels mostly an illusion?