Thursday, June 30, 2011
Wednesday, June 29, 2011
Tuesday, June 28, 2011
China eyes Canada oil, US's energy nest egg
Canada does not need US rules
The Associated Press: China eyes Canada oil, US's energy nest egg
Monday, June 27, 2011
What If the Consensus Is Wrong?
I think this guy has "hit the nail on the head". It seems to be unfolding this way.
Today, one of alert services called for a Sell on Gold. Another newsletter reported that negative rates are on US TBills. Very interesting times.
Sunday, June 26, 2011
Saturday, June 25, 2011
Rep. Upton: Obama's Oil Release Leaves US Vulnerable in Emergency
The US Administration is out of touch and behind. Of course we should not be surprised.
Rep. Upton: Obama's Oil Release Leaves US Vulnerable in Emergency
IBG–YBG: Owning vs. Managing—Democracy vs. Kleptocracy
Very good analysis of how we got here. Easy read.
Gonzalo Lira: IBG–YBG: Owning vs. Managing—Democracy vs. Kleptocracy
Friday, June 24, 2011
Revoke Media Matters' Tax Status
O'Reilly right on this one.....this is stupid....taxpayers should not be funding this group.
O’Reilly: Revoke Media Matters' Tax Status
The U.S. Monetary System and Descent into Fascism An Interview with Dr. Edwin Vieira - Casey Research
An interview with Dr. Edwin Vieira. The start of the interview is a question as to whether the current US monetary system is constitutional. He had a simple answer.
Edwin Vieira, Jr., holds four degrees from Harvard: A.B. (Harvard College), A.M. and Ph.D. (Harvard Graduate School of Arts and Sciences), and J.D. (Harvard Law School).
For more than thirty years, he has practiced law, with emphasis on constitutional issues. In the Supreme Court of the United States, he successfully argued or briefed the cases leading to the landmark decisions Abood v. Detroit Board of Education, Chicago Teachers Union v. Hudson, and Communications Workers of America v. Beck, which established constitutional and statutory limitations on the uses to which labor unions, in both the private and the public sectors, may apply fees extracted from nonunion workers as a condition of their employment.
He has written numerous monographs and articles in scholarly journals, and lectured throughout the county. His most recent work on money and banking is the two-volumePieces of Eight: The Monetary Powers and Disabilities of the United States Constitution(2002), the most comprehensive study in existence of American monetary law and history viewed from a constitutional perspective.
He is also the co-author (under a nom de plume) of the political novel CRA$HMAKER: A Federal Affaire (2000), a not-so-fictional story of an engineered crash of the Federal Reserve System, and the political upheaval it causes.
His latest book is: How to Dethrone the Imperial Judiciary... and Constitutional "Homeland Security," Volume One, The Nation in Arms.
Dr. Vieira’s in-depth and excellent paper, "A Cross of Gold," as that provides a more detailed analysis on how the corrupt U.S. monetary system might transition into something more honest and effective.Thursday, June 23, 2011
Avoid copper
As copper goes......so does the market. Hang on....
Mineweb.com - The world's premier mining and mining investment website Avoid copper (unless you`re a smelter or refiner) - SocGen - BASE METALS | Mineweb
The U.S. Monetary System and Descent into Fascism
Hang on as you read this interview with Dr. Edwin Vieira. Or you could just stick you head in the sand.
The U.S. Monetary System and Descent into Fascism An Interview with Dr. Edwin Vieira - Casey Research
US Opens Reserves to Release 30M Barrels of Oil
What! Unbelievable! This is not an emergency or crises. However maybe Obama thinks his poll numbers are too low therefore.... Whatever the reason, it is not a good one. This does tell me that the government is operating on more short term fixes. This does not look good for the future......confidence is falling faster and here I thought it could not move down much faster.....I'm wrong, too much of thinking it will be better....but NOT.
US Opens Reserves to Release 30M Barrels of Oil
Fed’s Bullard: “When it does blow up it will be too late”
Even the Fed is very worried. We are at extremes. What will things look like 18 months from now?
Fed’s Bullard: “When it does blow up it will be too late”
Wait to Buy Berkshire Hathaway
Wait to buy BRK until the fall, e.g. after the hurricane season is over.
The Aleph Blog » Blog Archive » Wait to Buy Berkshire Hathaway
Wednesday, June 22, 2011
Editorial: Who OK'd 'Guns To Gangs' Program, And Why?
Ok the news is out. But the question is who in the White House approved this really dumb program and better question is why. Mexico and the US is hurting by this US government authorized program.
Tuesday, June 21, 2011
Piracy sails from high seas to C-suite Outside the Box - MarketWatch
See attached for article on the crimes by big government and business while the government says they are looking after the little guy. Wrong....read and think.
The crime is with big business and big government. Hand in hand they work together. A good example is
Raines while he was CEO at Fannie Mae. "Most of the crimes Raines committed while at Fannie Mae were paltry, petty graft. He demanded illegal accounting changes that inflated the company's earnings. As a result, he received huge amounts of fraudulent compensation – around $20 million per year. When his crimes were discovered, he resigned. Later, he agreed to a $3 million settlement with the government, which was paid by Fannie's insurance company. He also gave up $1.8 million in stock and options (which were later worth nothing in any case.) If you rob a bank, you go to jail. But if you steal $50 million-$100 million from the government's mortgage bank, you keep it all. That's New American Socialism.
Raines was disgraced by his own enormous greed and lack of character. But those crimes are merely an afterthought to the real damage he brought to our economy.
Raines was instrumental in building Fannie's mortgage portfolio to gargantuan proportions. And he was responsible for the company's move into subprime loans.
Rather than lend money to homeowners, Fannie's strategy was to buy mortgages from banks, which allowed them to banks to more homeowners. Fannie Mae also guaranteed mortgage loans across the industry, which allowed more private capital to become available. The theory was this made housing more affordable. It didn't. It only allowed banks to make risk-free loans, which led to vastly higher home prices, bigger banking profits, and huge profits for Fannie Mae at least temporarily. The downside was the whole system was a charade... a giant con job. Fannie never had the capital required to guarantee the loans it bought and insured. When the bubble inevitably popped, the U.S. taxpayers ended up footing the $500 billion bill." Source: Stansberry & Associates Investment Research - June 2011
Did the government programs and Raines at Fannie Mae make housing affordable? Answer is no....it only inflated the housing costs for all people. Now people are losing their houses thanks be to the big government program. Big government and big business are for the elite; they want to control and do control the masses. But notwithstanding what they say, they hurt the small and little guys......the serfs. Nothing really changes, history repeats, but the ways are just bit different.
Piracy sails from high seas to C-suite Outside the Box - MarketWatchBarack Obama’s White House Rural Council: Central Economic Planning For America’s Heartland
Just what America needs and wants .....more government, the federal govt expanding control into the heartland.
Barack Obama’s White House Rural Council: Central Economic Planning For America’s Heartland
Monday, June 20, 2011
Open Letter to Barack Obama
Mr. Barack Obama
President of the Executive Branch
United States Government
Washington, DC
Dear Mr. Obama:
In your recent interview with NBC News you explained that your policies would promote more private-sector job creation were it not for (as you put it) “some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate.”
With respect, sir, you’re complaining about the source of our prosperity:innovation and the increases it causes in worker productivity.
With no less justification – but with no more validity – any of your predecessors might have issued complaints similar to yours. Pres. Grant, for example, might have grumbled in 1873 about “some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank that uses a modern safe and so employs fewer armed guards than before, or when you travel on trains which, compared to stage coaches, transport many more passengers using fewer workers.”
Or Pres. Nixon might have groused in 1973 about such labor-saving innovation: “You see it when you step into an automatic elevator that doesn’t require an elevator operator, or when you observe that polio vaccination keeps people alive and active without the aid of nurses and all those workers who were once usefully employed making iron-lung machines, crutches, and wheelchairs.”
Do you, Pres. Obama, really wish to suggest that the innovations you blame for thwarting your fiscal policies are “structural issues” that ought to be corrected?
Sincerely,
Donald J. Boudreaux
Professor of Economics
George Mason University
Fairfax, VA 22030
Sunday, June 19, 2011
Friday, June 17, 2011
IMF cuts U.S. growth forecast, warns of crisis
IMF is warning US and Europe to smarten up. Wow.....it is that obvious the financial problems the western world has. No wonder China is dropping the dollar. If the Euro and USD has lots of risks for its value, what is the replacement?
IMF cuts U.S. growth forecast, warns of crisis - Yahoo! UK & Ireland Finance
Wednesday, June 15, 2011
Is It Safe to Bank Online?
Follow the rules, you will be ok.
Is It Safe to Bank Online? - Yahoo! Finance
• The Economic Statistic US Elites Keep ‘Hush-Hush’
It's MPD, the marginal productivity of debt. Basically what it is, is that has debt increases, its marginal "productivity" decreases. Reason being is that the compounding effect of interest / money is not sustainable.
Gold going to $5,000
Why gold is going to $5,000 - SCOUT - a 68 page research study from Standard Chartered
In Gold We Trust 061411
Tuesday, June 14, 2011
Monday, June 13, 2011
Pimco’s Gross: US in Worse Financial Shape Than Greece
US is in worst financial condition then Greece! Unbelievable.....it is that way.
Greek, Portuguese and Irish CDS All At Records
Notwithstanding the debt / credit crises of these countries, the Euro is up against the mighty USD. Hmmm...makes you just wonder, why.
Greek, Portuguese and Irish CDS All At Record Wides | zero hedge
Greek, Portuguese and Irish CDS All At Records
Notwithstanding the debt / credit crises of these countries, the Euro is up against the mighty USD. Hmmm...makes you just wonder, why.
Greek, Portuguese and Irish CDS All At Record Wides | zero hedge
The hidden costs of dirt-cheap money
Yup! That is right, we are paying for the corporate bail outs. You know the companies and banks that are too big to fail. Those guys. Great to be working for them as well. Great bonuses paid. Then, it is great that one of the CEOs of the companies saved by the government (of course really by the taxpayers), had the guts to recommend that gasoline taxes be increased on the taxpayers by $1/gal. Naturally, that is only to help save the economy. With news like this, who in their right mind would be spending. One has to be very careful, given the government does not know what it is doing and what they are doing are screwing things up. Like Bush said, "how did we get here". Hey, those guys in government still have not figured that out, in fact have messed it up more so, making the correction, which will come much more painful. So, tighten up and get ready, the costs of the running away government spending, will be collected.
The hidden costs of dirt-cheap money - The Globe and Mail
Sunday, June 12, 2011
MicroSoft...Washed Up?
MSFT looking pretty weak with Ballmer.
Einhorn on Ballmer at Ira Sohn: A Caretaker
Michele Bachmann: 'On the Beach, I Bring von Mises' - WSJ.com
Rep. Michele Bachmann of Minnesota sounds like a winner for the economy and fiscal situation. Are the Americans bold enough, strong enough to solve their problems?
The Weekend Interview with Michele Bachmann: 'On the Beach, I Bring von Mises' - WSJ.com
Saturday, June 11, 2011
Wednesday, June 8, 2011
Next 20 years
Three alternatives for the next 20 years.
Think one item is missing with the attached analysis....that is the middle east and Israel.
That will have a significant impact on the world. Think it will be a rough ride for all. Get ready.
CNN Poll: 48% Say Depression Will Strike America
Think all of the people are sleeping; they do not know what is going on.
1/2 think depression will happen; the other half say not.... but the answer is.....we are there now!
Things will get much worst. But no one is asking the question why and what we need to do.
What is the answer?
The leaders all deny what is happening....it is not just economics, it is the choices that the people have made.
It is just going to get more costly.
Anyone with understanding? knowledge? experience? leadership? doing right?
Wiener shows the condition that Americak is in....and the people accept? big disappointment, but not a surprise.
There are answers to the issue, to the question, but America, is not ready yet to address the problem yet.
So....big surprise to come which will be an ouch! or maybe a big ouch for all and then the wonder why.
We will be all like G W Bush....asking the question again how did we get here?
Tell you.....GWB, we got here because of you and your buddy Obama with your big govt policies. Thanks a lot guys!
Three reasons why gold is going to have a big summer
Yup! the choice is Euro, USD, other currency, bonds or gold.....what do you think is viable asset?
Tuesday, June 7, 2011
Monday, June 6, 2011
Sunday, June 5, 2011
Saturday, June 4, 2011
Fraser Institute says auto bailout remains a bad idea
Fraser Institute says auto bailout remains a bad idea
Friday June 03 2011 - Street Wire
by Mark Milke of the Fraser Institute
Milton Friedman once said his greatest fear about the 1979 bailout of Chrysler by the U.S. federal government was not that it would fail, but that it would succeed. Mr. Friedman did not mean he was wrong to oppose it. What concerned him was how Chrysler's rescue (approved by the U.S. Congress in late 1979 and signed into law by then-president Jimmy Carter in 1980) might lead some to draw the wrong conclusion: the notion that such actions save jobs, among other illusions.
An example of an errant summary arrived again recently from federal Finance Minister Jim Flaherty. Mr. Flaherty held a press conference with members of the Canadian Auto Workers union and Chrysler. They were there to trumpet how the most recent Chrysler bailout, in 2009, was a "success" because Chrysler has repaid some -- but not all -- of the money it owes Canadian taxpayers.
Several commentators followed up with praise for the government and taxpayer largesse. They argued opposition to such corporate welfare was based on neo-classical economics and "dogmatic impulses."
But such views, including those of Mr. Flaherty, assume that conclusions about corporate welfare are derived from ideology. Actually, they result from an examination of the pumped-up claims about government subsidies to business. Taxpayers, politicians and columnists should oppose corporate welfare not on ideological grounds, but on the plain fact that such subsidies do not perform as advertised, and did not, even in the case of Chrysler.
First though, we will deal with the payback. Chrysler just repaid $1.7-billion of the $2.9-billion loan from 2009. The remaining $1.2-billion will never come back, as Mr. Flaherty admitted this week. "That part of the loan, initially, was made to the old Chrysler that is no longer with us," said Mr. Flaherty. It was in reference to Chrysler before bankruptcy reorganization absolved the "new" Chrysler of past debts.
That $1.2-billion loan was pure folly. No sober Canadian bank -- recall, the much-praised ones that survived the recession's meltdown -- would have thrown a billion-plus at a company about to go under. Only a politician would and for purely political reasons.
To make this loss even more real, consider that coincidentally in 2009, the net federal income tax take from Newfoundland and Labrador was almost the same ($1.17-billion). I wonder how taxpayers in that province enjoy the thought that the equivalent of all their federal tax that year went to Chrysler, never to return.
On another claim -- Chrysler is healthy and a success because it paid back a portion of the government loan, that misses a salient point. Take any person or company in financial trouble, relieve them of their debt via bankruptcy and of course their position will improve. It does not mean they were somehow brilliantly successful. By that measurement, anyone who defaults on their mortgage is a whiz at real estate investing.
Mr. Flaherty defended the Chrysler-GM bailout on the grounds that 52,000 auto sector jobs were protected. But to use an example from the other side of the country, 92,000 full-time jobs evaporated in British Columbia between June, 2008, and June, 2009, the latter month being the Chrysler-GM bailout month.
B.C.'s job losses were far higher than those auto sector jobs Mr. Flaherty thinks he "saved." He could not have, and nor should he have tried, to save every business in B.C. (or anywhere else) or the attached jobs. Instead, a defensible role for government, and what was already in play via the employment insurance program, is to provide a bridge for individuals. After all, companies will rise and fall, including large ones. In 2009, Canada-wide, 5,420 companies went bankrupt; only two were bailed out.
The "government-saved-jobs argument" from Mr. Flaherty misses another obvious point: the cash disbursed to Chrysler (and GM) came from somewhere, from individual taxpayers and profitable businesses. All the bailout did was redirect jobs away from other companies, especially Chrysler's competitors.
Even had Chrysler and GM never exited bankruptcy court, other, healthier automakers in Canada such as Ford, Toyota and Honda could have captured more market share; they would have hired more workers as their sales picked up. But, instead, the sickest and worst-managed companies were propped up. That punished the best-run businesses and rewarded those that were poorly run.
Such bailouts have become a habit, at least for Chrysler. Chrysler was first bailed out in 1979/1980 only to survive and repeat history three decades later. That happened because politicians ignore the substitution effect. That is where taxes and jobs are politically transferred from healthier competitors to weak companies. The job losses at the former are less visible because cameras are not around when pink slips are handed out.
Ignoring that reality is no virtue, nor economically defensible, no matter how often politicians pretend otherwise.
© 2011 Canjex Publishing Ltd.StockwatchFriday, June 3, 2011
Canada is No Haven from US Dollar Collapse
Good points! Canada is like the rest of them.
Canada is No Haven from US Dollar Collapse - Precious Metals - Resource Investor
Thursday, June 2, 2011
Wednesday, June 1, 2011
Subscribe to:
Posts (Atom)