Sunday, December 5, 2010
Mounting State Debts Stoke Fears of a Looming Crisis
Does not look good. Where is man's intelligence?
Mounting State Debts Stoke Fears of a Looming Crisis - NYTimes.com
Mounting State Debts Stoke Fears of a Looming Crisis - NYTimes.com
Friday, December 3, 2010
Wednesday, December 1, 2010
Investment Outlook - Allentown
Great article. The developed countries are financially tapped out, thus demand for more stuff (goods and services) is not growing. The developing countries do not have the financial systems, but have people that are working for less than the developed world. Thus jobs are moving from the developed countries to undeveloped. This is equalizing the world, and the standard of the living for the developed world is dropping and will continue to do so at a faster pace. The developed world solution, is not an economic one of getting a handle on it (eg less debt and more productive), but one of printing money and adding debt. This "solution" only makes the depression worst.
PIMCO Investment Outlook - Allentown
PIMCO Investment Outlook - Allentown
Tuesday, November 30, 2010
Monday, November 29, 2010
Ireland is Bankrupt....a comment letter from someone from Ireland
This is a letter from someone from Ireland....I am sure there will letters, thoughts and comments from many others there like this from Ireland and then from the rest of Europe. People are disappointed with the the lack of financial responsiblity and respect that the political and business leaders have had. Yet the people voted for the easy way...but the easy way does not last long.
*********
Herman Van Rompuy, President of the European Council, warned that if Ireland didn't apply for an EU/ECB/IMF bailout for its failed banking system, its soaring budget deficit and its colossal national debt, then the European single currency might collapse [the bond markets have already panicked and cashed in], and if the International markets lost confidence in the Euro, then the dissolution of the Union would quickly follow. He said the future of the Eurozone depended on stemming the tide of market distrust caused by the tanking Irish economy. He feared contagion, that Portugal and Italy and Spain would soon follow.
Ireland is not only insolvent because it has no liquidity, no way of meeting its debts. The government decided to link the economic future of the country to a failed banking system and now the two are inextricably intertwined. No amount of raised taxes can bail out the banks and still pay the day-to-day running expenses of our welfare state. The famed 'Celtic Tiger' boom economy was always a high-risk, dangerous fiction. Someone dubbed Ireland the 'Wild West of Economics'. Our illusory wealth was tied to a property bubble that was as unsustainable as it vacuous, and all the money was borrowed, primarily from German savers. We were hooked on credit like it was crack cocaine. We binged but never purged and we stayed high to postpone the inevitable hangover. Everybody was in cahoots, from corrupt local governments, driving through emergency rezoning laws, to rogue bankers financing the criminal inflation of developments and shoveling billions to builders, to newspapers cashing in on their property advertising to regulators asleep at the wheel. Our mafia don cum Taoiseach, Bertie 'Gombeen-Man' Ahern, invited critics of the system to commit suicide. Nobody left the orgy. Nobody wanted to leave. Planet Hollywood had finally come to Planet Ireland!
But inevitably the whole house of cards would come crashing down, and Bertie [who tendered his timely resignation just before the collapse] soon got his wish as the suicide rate started to climb to the highest in Europe. The government panicked. The Minister for Finance, a barrister by profession, got a crash course in national and global economics. He learned about markets and budgets and bonds and gilts on the job, on a need-to-know basis. He instituted an abstraction called N.A.M.A. http://www.nama.ie/ , The National Assets Management Agency, whose remit basically is to buy up all the debt and properties left unfinished and unpaid for by the construction moguls [developers & builders] and their bankers, to transfer them to a national trust, cue Irish tax-payer, as if we owned them, or even wanted them, or could avail of them in any way, and to pay off the outstanding loans. All over Ireland, in every town and village, are these unfinished ghost estates. These now belong and do not belong to the Irish taxpayer. This offense was compounded by the decision to bail out the very banks [like Anglo Irish and Irish Permanent, really, all of them] that got us into the mess. The banks were hemorrhaging money [and still are] and the government was on hand to provide on-the-spot triage, a botched stitch-up job if there ever was one, a cluster-fuck of cosmic proportions.
The government, Fianna Fáil in coalition with The Greens and a few independents, lied through their teeth and kept telling the Irish taxpayer that exports were up, that the revenue would come in once the austerity budget was passed, once the 4-year plan was unveiled and ratified and that no bail-out would be necessary. Reduce public spending, they told us, tighten our belts; cut the public sector; Trim this, give a haircut to that and all would be hunky dory. Well, the same shower of gangsters who gave the green light to sub-prime lenders and hedge-fund speculators-gamblers went to the ECB/IMF with cap in hand this week and begged for a bailout. Then they came on TeeVee to announce the done-deal. Ireland will borrow over 85 billion from its partners in the EU and the IMF and, depending on the repayment interest, 5 -7%, we could be paying back upwards of 4 billion a year. That's about 1/4 of the Tax intake. The debt is completely beyond our means as Constantin Gurdjiev, http://trueeconomics.blogspot.com/ and David McWilliams http://www.davidmcwilliams.ie/category/articles/ are trying to point out.
Ireland is used to erosions of its sovereignty ever since we joined the European Union. We, we had our first referendum on the Lisbon Treaty in June 2008 and it was defeated. Sarkozy told our Taoiseach that he delivered the wrong result and to go back to the people and get the right result next time, so that's exactly what happened and so in April 2009 the treaty was finally passed in Ireland. So much for Irish sovereignty. Our membership of the single currency in 1998, as part of our EU obligations under the Maastricht Treaty, further compromised that independence. Now ceding control to the IMF -- to save the Eurozone -- is the final nail in the coffin of that putative myth known as Irish sovereignty. We gave away so glibly what we fought so hard to achieve.
Was it for this the wild geese spread
The grey wing upon every tide;
For this that all that blood was shed,
For this Edward Fitzgerald died,
And Robert Emmet and Wolfe Tone,
All that delirium of the brave?
Romantic Ireland’s dead and gone,
It’s with O’Leary in the grave.
I'm afraid the verdict isn't very flattering. Ireland is indeed a banana republic, a land full of cronyism, wink and nod business deals, insider trading, nepotism, feather your own nest and forget about the next guy, take all you can as quickly as you can no matter who gets hurt, ostracize the whistle blowers and critics, advance number one every time and keep the circles closed. There's no sense of civitas here, no notion of self-sacrifice, no pride in history, culture, nation; it's all up for grabs to the highest bidder. It doesn't matter that we struggled for 800 years to achieve independence, that millions died in the process; it doesn't matter that the folk memory of harsher times is still very much alive; none of this mattered to the few generations that have dismantled our country institution by institution and thrown the Irish people to the wolves, the bean counters in the IMF who will now control our destiny. Our political system is in ruins. The people have lost all faith in their elected representatives. They feel that welfare for the wealthy, bailouts for crooked corporations and rewards instead of punishments for embezzlement and thievery is the rule of the land. And what the British and the world said about us, all the stereotypes, seem to be true after all and maybe were always true: we were never equipped to govern ourselves, we're a nation of drunks, peasants, irresponsible wasters and chancers addicted to violence and quick fixes. Our independent republic is less than a century old and already it's in smithereens -- we're in the gutter and being dictated to by the UK, Germany, France and the IMF. Mr. Ajai Chopra is our new vice-chancellor, our new Taoiseach, our new overlord and big boss and we've just been recolonized, first by our own brood of inbred gangsters and now by international bankers. We didn't deserve any better. It's our own damn fault.
By 'we' I mean the select few that got our country into the financial mess. But the blame game serves no useful purpose now: we're all screwed, not equally, mind you [but when are people ever screwed equally?], and the nation has no option now but to drive through a draconian austerity budget and then take the bailout and let our affairs be run by outsiders. Could we say 'Screw You' to the Euro and go back to the punt? Could we say 'Screw You' to Germany and all our debtors? Could we say ' Screw You' to the EU and let the Eurozone fall? Our politicians tell us we have no choice. It would be therapeutic to tell the lot of them to piss off and to return to hunter-gatherer status but how feasible is that? Kids think beef patties are really square and grow on trees. They wouldn't know how to pluck a chicken let alone sow and reap a harvest. Everything's in the grocery store and they're too busy playing play station, twittering and gabbing on Facebook to worry about the right time of year to plant a tuber. The EU is run by neo-liberalist economic policies and if Ireland doesn't play ball the multi-nationals will up and relocate to cheaper labour markets. They're already doing just that. They're encouraged to do it by Merkel and Sarkozy and Cameron.
And then there's always the fear that this crisis will inaugurate excessive nationalism, that the Provos will exploit civil unrest and lack of confidence in the government to push their demented and deranged United Ireland bollocks. Gerry Adams has already announced his candidacy for a seat in Co. Louth which, if elected, will find him in Dáil Éireann. This would be disastrous for Ireland. Ireland doesn't need Sinn Féin's brand of patriotism. People should remember Gerry Adams' devolvement announcement for the Good Friday Agreement: He said he was now ready to pursue through the political process the same agenda he failed to achieve through armed struggle, that is, a United Ireland. If Sinn Féin ever gets a foothold in Irish politics there will be a return to the rule of the gun; if his bunch of murderous, terrorist thugs are ever allowed to exploit the political vacuum in Ireland there will be a bloodbath. Adams has always preached against the EU and partnership with Britain. He's still the same dickweed that did time in Long Kesh and had Jean McConville a widowed mother of 11 children murdered because she administered last rites to a British soldier who died on her footstep. His brand of fascistic nationalism is no good for Ireland. We must reject him and what he stands for.
As a nation we're a joke, a laughing stock, and now it's time to become a colony of the IMF under the direction of the same cowboy outfit that brought peace and prosperity to Argentina and Iceland. O Joy, I just can't wait. We're used to it. It feels good. And this time we walked right into it. Heck, we can always get drunk afterwards, have a rare old session and weep and wail over our Fenian dead.
Custerluck
Mr. Crawford's letter of despair could just as easily be authored by anyone in the UK, US or France. We have all reached the point where no amount of twisting and turning is going to avoid the noose of poverty. We have all taken the easy way out, which in retrospect will become the most difficult way.
Those that survive will indeed learn to "pluck a chicken" or "reap a harvest". They will also have to learn how to grow a garden, how to preserve foodstuffs and how to repair a tire. Unfortunately, they also may have to learn how to handle a gun.
Other than the above, I have no advice except that of Margaret Thatcher's comment that socialism ends when they run out of other people's money.
*********
Herman Van Rompuy, President of the European Council, warned that if Ireland didn't apply for an EU/ECB/IMF bailout for its failed banking system, its soaring budget deficit and its colossal national debt, then the European single currency might collapse [the bond markets have already panicked and cashed in], and if the International markets lost confidence in the Euro, then the dissolution of the Union would quickly follow. He said the future of the Eurozone depended on stemming the tide of market distrust caused by the tanking Irish economy. He feared contagion, that Portugal and Italy and Spain would soon follow.
Ireland is not only insolvent because it has no liquidity, no way of meeting its debts. The government decided to link the economic future of the country to a failed banking system and now the two are inextricably intertwined. No amount of raised taxes can bail out the banks and still pay the day-to-day running expenses of our welfare state. The famed 'Celtic Tiger' boom economy was always a high-risk, dangerous fiction. Someone dubbed Ireland the 'Wild West of Economics'. Our illusory wealth was tied to a property bubble that was as unsustainable as it vacuous, and all the money was borrowed, primarily from German savers. We were hooked on credit like it was crack cocaine. We binged but never purged and we stayed high to postpone the inevitable hangover. Everybody was in cahoots, from corrupt local governments, driving through emergency rezoning laws, to rogue bankers financing the criminal inflation of developments and shoveling billions to builders, to newspapers cashing in on their property advertising to regulators asleep at the wheel. Our mafia don cum Taoiseach, Bertie 'Gombeen-Man' Ahern, invited critics of the system to commit suicide. Nobody left the orgy. Nobody wanted to leave. Planet Hollywood had finally come to Planet Ireland!
But inevitably the whole house of cards would come crashing down, and Bertie [who tendered his timely resignation just before the collapse] soon got his wish as the suicide rate started to climb to the highest in Europe. The government panicked. The Minister for Finance, a barrister by profession, got a crash course in national and global economics. He learned about markets and budgets and bonds and gilts on the job, on a need-to-know basis. He instituted an abstraction called N.A.M.A. http://www.nama.ie/ , The National Assets Management Agency, whose remit basically is to buy up all the debt and properties left unfinished and unpaid for by the construction moguls [developers & builders] and their bankers, to transfer them to a national trust, cue Irish tax-payer, as if we owned them, or even wanted them, or could avail of them in any way, and to pay off the outstanding loans. All over Ireland, in every town and village, are these unfinished ghost estates. These now belong and do not belong to the Irish taxpayer. This offense was compounded by the decision to bail out the very banks [like Anglo Irish and Irish Permanent, really, all of them] that got us into the mess. The banks were hemorrhaging money [and still are] and the government was on hand to provide on-the-spot triage, a botched stitch-up job if there ever was one, a cluster-fuck of cosmic proportions.
The government, Fianna Fáil in coalition with The Greens and a few independents, lied through their teeth and kept telling the Irish taxpayer that exports were up, that the revenue would come in once the austerity budget was passed, once the 4-year plan was unveiled and ratified and that no bail-out would be necessary. Reduce public spending, they told us, tighten our belts; cut the public sector; Trim this, give a haircut to that and all would be hunky dory. Well, the same shower of gangsters who gave the green light to sub-prime lenders and hedge-fund speculators-gamblers went to the ECB/IMF with cap in hand this week and begged for a bailout. Then they came on TeeVee to announce the done-deal. Ireland will borrow over 85 billion from its partners in the EU and the IMF and, depending on the repayment interest, 5 -7%, we could be paying back upwards of 4 billion a year. That's about 1/4 of the Tax intake. The debt is completely beyond our means as Constantin Gurdjiev, http://trueeconomics.blogspot.com/ and David McWilliams http://www.davidmcwilliams.ie/category/articles/ are trying to point out.
Ireland is used to erosions of its sovereignty ever since we joined the European Union. We, we had our first referendum on the Lisbon Treaty in June 2008 and it was defeated. Sarkozy told our Taoiseach that he delivered the wrong result and to go back to the people and get the right result next time, so that's exactly what happened and so in April 2009 the treaty was finally passed in Ireland. So much for Irish sovereignty. Our membership of the single currency in 1998, as part of our EU obligations under the Maastricht Treaty, further compromised that independence. Now ceding control to the IMF -- to save the Eurozone -- is the final nail in the coffin of that putative myth known as Irish sovereignty. We gave away so glibly what we fought so hard to achieve.
Was it for this the wild geese spread
The grey wing upon every tide;
For this that all that blood was shed,
For this Edward Fitzgerald died,
And Robert Emmet and Wolfe Tone,
All that delirium of the brave?
Romantic Ireland’s dead and gone,
It’s with O’Leary in the grave.
I'm afraid the verdict isn't very flattering. Ireland is indeed a banana republic, a land full of cronyism, wink and nod business deals, insider trading, nepotism, feather your own nest and forget about the next guy, take all you can as quickly as you can no matter who gets hurt, ostracize the whistle blowers and critics, advance number one every time and keep the circles closed. There's no sense of civitas here, no notion of self-sacrifice, no pride in history, culture, nation; it's all up for grabs to the highest bidder. It doesn't matter that we struggled for 800 years to achieve independence, that millions died in the process; it doesn't matter that the folk memory of harsher times is still very much alive; none of this mattered to the few generations that have dismantled our country institution by institution and thrown the Irish people to the wolves, the bean counters in the IMF who will now control our destiny. Our political system is in ruins. The people have lost all faith in their elected representatives. They feel that welfare for the wealthy, bailouts for crooked corporations and rewards instead of punishments for embezzlement and thievery is the rule of the land. And what the British and the world said about us, all the stereotypes, seem to be true after all and maybe were always true: we were never equipped to govern ourselves, we're a nation of drunks, peasants, irresponsible wasters and chancers addicted to violence and quick fixes. Our independent republic is less than a century old and already it's in smithereens -- we're in the gutter and being dictated to by the UK, Germany, France and the IMF. Mr. Ajai Chopra is our new vice-chancellor, our new Taoiseach, our new overlord and big boss and we've just been recolonized, first by our own brood of inbred gangsters and now by international bankers. We didn't deserve any better. It's our own damn fault.
By 'we' I mean the select few that got our country into the financial mess. But the blame game serves no useful purpose now: we're all screwed, not equally, mind you [but when are people ever screwed equally?], and the nation has no option now but to drive through a draconian austerity budget and then take the bailout and let our affairs be run by outsiders. Could we say 'Screw You' to the Euro and go back to the punt? Could we say 'Screw You' to Germany and all our debtors? Could we say ' Screw You' to the EU and let the Eurozone fall? Our politicians tell us we have no choice. It would be therapeutic to tell the lot of them to piss off and to return to hunter-gatherer status but how feasible is that? Kids think beef patties are really square and grow on trees. They wouldn't know how to pluck a chicken let alone sow and reap a harvest. Everything's in the grocery store and they're too busy playing play station, twittering and gabbing on Facebook to worry about the right time of year to plant a tuber. The EU is run by neo-liberalist economic policies and if Ireland doesn't play ball the multi-nationals will up and relocate to cheaper labour markets. They're already doing just that. They're encouraged to do it by Merkel and Sarkozy and Cameron.
And then there's always the fear that this crisis will inaugurate excessive nationalism, that the Provos will exploit civil unrest and lack of confidence in the government to push their demented and deranged United Ireland bollocks. Gerry Adams has already announced his candidacy for a seat in Co. Louth which, if elected, will find him in Dáil Éireann. This would be disastrous for Ireland. Ireland doesn't need Sinn Féin's brand of patriotism. People should remember Gerry Adams' devolvement announcement for the Good Friday Agreement: He said he was now ready to pursue through the political process the same agenda he failed to achieve through armed struggle, that is, a United Ireland. If Sinn Féin ever gets a foothold in Irish politics there will be a return to the rule of the gun; if his bunch of murderous, terrorist thugs are ever allowed to exploit the political vacuum in Ireland there will be a bloodbath. Adams has always preached against the EU and partnership with Britain. He's still the same dickweed that did time in Long Kesh and had Jean McConville a widowed mother of 11 children murdered because she administered last rites to a British soldier who died on her footstep. His brand of fascistic nationalism is no good for Ireland. We must reject him and what he stands for.
As a nation we're a joke, a laughing stock, and now it's time to become a colony of the IMF under the direction of the same cowboy outfit that brought peace and prosperity to Argentina and Iceland. O Joy, I just can't wait. We're used to it. It feels good. And this time we walked right into it. Heck, we can always get drunk afterwards, have a rare old session and weep and wail over our Fenian dead.
Custerluck
Mr. Crawford's letter of despair could just as easily be authored by anyone in the UK, US or France. We have all reached the point where no amount of twisting and turning is going to avoid the noose of poverty. We have all taken the easy way out, which in retrospect will become the most difficult way.
Those that survive will indeed learn to "pluck a chicken" or "reap a harvest". They will also have to learn how to grow a garden, how to preserve foodstuffs and how to repair a tire. Unfortunately, they also may have to learn how to handle a gun.
Other than the above, I have no advice except that of Margaret Thatcher's comment that socialism ends when they run out of other people's money.
Saturday, November 27, 2010
Thursday, November 25, 2010
Wednesday, November 24, 2010
Gloom, anger spreads as European economies teeter
People in Europe do not like it and do not understand it.
The governments have been deficit spending for years and as well guaranteed debts of banks which have been reckless.
The credit card limits are being hit. US will be next.
Then what?
And we think mankind can understand and manage economics? Look at Germany after WWII, there was two very different systems with same people. One was sucessful the other not.
The unseen hand rules.
Gloom, anger spreads as European economies teeter - Yahoo! News
The governments have been deficit spending for years and as well guaranteed debts of banks which have been reckless.
The credit card limits are being hit. US will be next.
Then what?
And we think mankind can understand and manage economics? Look at Germany after WWII, there was two very different systems with same people. One was sucessful the other not.
The unseen hand rules.
Gloom, anger spreads as European economies teeter - Yahoo! News
Tuesday, November 23, 2010
The Greatest of All Ponzi Schemes
This is part of the reason that the economy is in a mess; investment banks, misallocation of resources, government funding (central planning) and greed.
The Greatest of All Ponzi Schemes Oil Price.com
The Greatest of All Ponzi Schemes Oil Price.com
People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill | Network World
Hey, don't they do this is totalitarian systems. Could it be coming?
Privacy and Security Fanatic: People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill Network World
Privacy and Security Fanatic: People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill Network World
Time for Mortgage Lenders to Consider a Jubilee?
Biblical principles getting more consideration. The year of Jubilee, the economy, the people need it. Next time, let's plan for it. Smarter economics. Compare that to gee we really don't know what works or why.
Time for Mortgage Lenders to Consider a Jubilee? — Rick's Picks#more-28569
Time for Mortgage Lenders to Consider a Jubilee? — Rick's Picks#more-28569
Monday, November 22, 2010
A Full Body Scan of American Corruption
Body Scanners being sold by former Home Land Security guy. They really don't work, but he is getting paid very well due to his connections. America's form of corruption that the public buys.
Gonzalo Lira: A Full Body Scan of American Corruption
Gonzalo Lira: A Full Body Scan of American Corruption
UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
Climate change is part of the control managment tool of the misguided globalist and progressives. The public do not get the facts but story bits.
GetLiberty.org >> NewsBusters: UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
GetLiberty.org >> NewsBusters: UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
Sunday, November 21, 2010
New Republican Leadership or Politics as Usual
Very disappointing, but not surprised. Life continues as it was, in its troubled destructive state.
New Republican Leadership or Politics as Usual - Home - theboldpursuit.com
New Republican Leadership or Politics as Usual - Home - theboldpursuit.com
Thursday, November 18, 2010
Dear Uncle Sucker . . . | The Big Picture
Warren Buffett's letter thanking Uncle Sam for the protection / buy out.
Dear Uncle Sucker . . . The Big Picture
Dear Uncle Sucker . . . The Big Picture
Wednesday, November 17, 2010
Tuesday, November 16, 2010
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Not that I think what George does is always good, but he is worth a listen.
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Monday, November 15, 2010
"The Fed's Business Is Price Instability"
The US Fed is out of control. Ben does not understand risk and he is taking very risky position.
Nassim Taleb: "The Fed's Business Is Price Instability" zero hedge
Nassim Taleb: "The Fed's Business Is Price Instability" zero hedge
Portugal "Euro Zone Exit"?
Portugal may have to leave the Euro. It would not be alone.
Mish's Global Economic Trend Analysis: Portugal Foreign Affairs Minister Threatens "Euro Zone Exit"
Mish's Global Economic Trend Analysis: Portugal Foreign Affairs Minister Threatens "Euro Zone Exit"
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE
Printing money will raise interest rates. It has started.
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE PRAGMATIC CAPITALISM
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE PRAGMATIC CAPITALISM
TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
This is not right
Today, I saw some smiling faces today as a guy escorted a well built woman to the body scanning machine.
SHOWDOWN: TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
Today, I saw some smiling faces today as a guy escorted a well built woman to the body scanning machine.
SHOWDOWN: TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
Open Letter to Ben Bernanke
Other economist, investment managers and finance folks understand it, but Ben doesn't. Scary, real scary what this guy is doing.
Open Letter to Ben Bernanke - Real Time Economics - WSJ
Open Letter to Ben Bernanke - Real Time Economics - WSJ
Sunday, November 14, 2010
Wednesday, November 10, 2010
George Sores - The Puppet Master
From Van Jones - The Strategy is:
Top Down
Bottom Up
Inside Out
Top down is in place. Now it is your turn - bottom up.
I think we should be concerned. Very concerned.
Glenn Beck: The Puppet Master - Glenn Beck - FOXNews.com
Top Down
Bottom Up
Inside Out
Top down is in place. Now it is your turn - bottom up.
I think we should be concerned. Very concerned.
Glenn Beck: The Puppet Master - Glenn Beck - FOXNews.com
Friday, November 5, 2010
Thursday, November 4, 2010
Why Your Adviser Is Scared to Set You Straight - WSJ.com
I agree. My investment advisor costs me over six figures within short 4 months. He was good for a period of time for about a year, careful with a part of our portfolio. Gained my trust and confidence. Kept us out of the initial down turn in 2008. In 2009 he was then given our entire portfolio to manage. With the subsequent down turn in 2009 he did not manage that very well. Became very emotional, did not have stops (unbelievable) and did not follow the markets. He scared me big time. He was lost. As result, in short four months, I had to pull the accounts, and we were down over six figures. Big lesson learned. The investor advisors are only human and they are emotional beings. In addition, to the pain, the guy charged 1% management fee.
I agree with the article, one is better managing their finances than an advisor.
The Intelligent Investor: Why Your Adviser Is Scared to Set You Straight - WSJ.com
I agree with the article, one is better managing their finances than an advisor.
The Intelligent Investor: Why Your Adviser Is Scared to Set You Straight - WSJ.com
Wednesday, November 3, 2010
10 Signs The U.S. is Becoming a Third World Country
US Fed announced today further devaluation and its dollar by printing more dollars. US is acting like many 3rd world nation. Risky bettors, lottery players they are, or just plain losers.
Activist Post: 10 Signs The U.S. is Becoming a Third World Country
Activist Post: 10 Signs The U.S. is Becoming a Third World Country
Fed takes bold, risky step to bolster economy
Disappointing action by the Fed. They say it is risky and don't know if printing more paper dollars will work. Of course it will not. Any country that prints money to solve its trade and or fiscal problems or irresponsibility had demonstrated that it does not work. Ben is not in the real world and he should not be in charge of the Fed. Dangerous guy that is running lose.
Fed takes bold, risky step to bolster economy - Yahoo! News
Fed takes bold, risky step to bolster economy - Yahoo! News
Tuesday, November 2, 2010
Monday, November 1, 2010
Saturday, October 23, 2010
Tuesday, October 19, 2010
Saturday, October 16, 2010
Mish's Global Economic Trend Analysis: Gold Market on U.S. Elections: So What?
Yup, I got to agree, the election in November does not really matter; whether it is Demo or GOP. Americans are looking for easy answers. There is none. So result will be only big disappointment. And then the "fun" will start! Hang on for real change.
Mish's Global Economic Trend Analysis: Gold Market on U.S. Elections: So What?
Mish's Global Economic Trend Analysis: Gold Market on U.S. Elections: So What?
Climate Change is Fraud
Climate change is a big business fraud on the people.
Professor Emiritus Hal Lewis Resigns from American Physical Society – reasonmclucus - My Telegraph
Professor Emiritus Hal Lewis Resigns from American Physical Society – reasonmclucus - My Telegraph
Permabear to English Translation Guide
The PermaBear to English Translation Guide
Apple: A fictitious company that does not exist.
BLS: A secret society of mathematicians and statistical wonks conspiring to falsify economic data, formerly known as the the sect of Opus Dei; See also Birth Death Adjustment.
Bernanke, Ben: Beelzebub
Bonds: An asset class that will eventually be worthless paper as its value is inflated away, but in the meantime, are a good alternative to equities.
Bubble: A catchall phrase used to describe any market not in freefall.
China: The centrally planned communist economy that is the model for Free Market Economies in the West. alt. An idealized form of Capitalism;
Death Cross: The most reliable and certain technical formation known to man. See also Golden Cross: An old wives’ tale, not to paid attention to or taken seriously at all.
Depression: The current state of economic affairs; See also Pornography.
European Union (EU): A soon to be dissolved association of Socialist states, whose sole purpose is to mislead investors into believing the United States is (comparatively) fiscally responsible. See alsoEuroFASB: A criminal legal enterprise of accountants whose members help banks hide massive losses;
Fiat Currency: The root of all evil
FOMC: Fertilizer for the root of all evil
Gold: A shiny yellow metal used primarily as an excuse for missing a generational rally in equities.
Google: See Apple
Greece: A nation of tax cheats that will lead to the dissolution of the EU;
Greenspan, Alan: Lucifer
Housing Bottom: A theoretical but mathematically impossible construct.
Hindenburg Omen: A common pick up line at permabear cocktail parties, good for for attracting sexual partners but of little use for anything else.Vernacular: “Did you see another Hindenburg Omen signal was given today?”
Hyper-Inflation: The eventual fate of all humanity due to the existence of central banks.
Inflation: The precursor condition to Hyper-Inflation.
Japan: A large manufacturing island in the Pacific, whose decades-long recession is the inevitable model for the United States
Money Supply: ?, an imaginary number.
New Normal: A combination of contracting credit availability, stubborn unemployment and US consumer de-leveraging; See also 1930s, 1950s, 1970s (aka Old Normal).
Overbought: The normal state of equity markets;
Oversold: A theoretical market condition last seen in 1982.
P&L: We don’t talk about that.
POMO: An acronym used by rookie traders in failed attempts to explain the “mysterious” impact of massive liquidity on equities.
QE2: A code word or shorthand for the event that has been prophesied to bring about the End of the World. Interchangeable with “Apocalypse” as Perma-bears regard both its coming and its destructive power as a quasi-religious inevitability. See also POMO
Recession: See Depression
Risk On: Any Bull market
Rosenberg, David: A minor deity amongst the Perma-bear faithful. The very mention of his name causes a reverential hush to fall over the gathered masses as they hungrily devour his latest proclamations of death and dismemberment. See also Roubini, Faber, Rogers, Cassandra, et. al.
Stress Test: Hoax or Conspiracy
Subprime: The state of all credit in the US
Tony Robbins: The newest economic sage to warn of the coming economic apocalypse, most recently during August 2010; See also John Tudor Jones.
Unemployment: An irreversible condition, symptomatic of declining empires. Hence the reason no one in Great Britain ever found a job again after the 1830?s.
Uptrend: Not found.
Permabear to English Translation Guide
Apple: A fictitious company that does not exist.
BLS: A secret society of mathematicians and statistical wonks conspiring to falsify economic data, formerly known as the the sect of Opus Dei; See also Birth Death Adjustment.
Bernanke, Ben: Beelzebub
Bonds: An asset class that will eventually be worthless paper as its value is inflated away, but in the meantime, are a good alternative to equities.
Bubble: A catchall phrase used to describe any market not in freefall.
China: The centrally planned communist economy that is the model for Free Market Economies in the West. alt. An idealized form of Capitalism;
Death Cross: The most reliable and certain technical formation known to man. See also Golden Cross: An old wives’ tale, not to paid attention to or taken seriously at all.
Depression: The current state of economic affairs; See also Pornography.
European Union (EU): A soon to be dissolved association of Socialist states, whose sole purpose is to mislead investors into believing the United States is (comparatively) fiscally responsible. See alsoEuroFASB: A criminal legal enterprise of accountants whose members help banks hide massive losses;
Fiat Currency: The root of all evil
FOMC: Fertilizer for the root of all evil
Gold: A shiny yellow metal used primarily as an excuse for missing a generational rally in equities.
Google: See Apple
Greece: A nation of tax cheats that will lead to the dissolution of the EU;
Greenspan, Alan: Lucifer
Housing Bottom: A theoretical but mathematically impossible construct.
Hindenburg Omen: A common pick up line at permabear cocktail parties, good for for attracting sexual partners but of little use for anything else.Vernacular: “Did you see another Hindenburg Omen signal was given today?”
Hyper-Inflation: The eventual fate of all humanity due to the existence of central banks.
Inflation: The precursor condition to Hyper-Inflation.
Japan: A large manufacturing island in the Pacific, whose decades-long recession is the inevitable model for the United States
Money Supply: ?, an imaginary number.
New Normal: A combination of contracting credit availability, stubborn unemployment and US consumer de-leveraging; See also 1930s, 1950s, 1970s (aka Old Normal).
Overbought: The normal state of equity markets;
Oversold: A theoretical market condition last seen in 1982.
P&L: We don’t talk about that.
POMO: An acronym used by rookie traders in failed attempts to explain the “mysterious” impact of massive liquidity on equities.
QE2: A code word or shorthand for the event that has been prophesied to bring about the End of the World. Interchangeable with “Apocalypse” as Perma-bears regard both its coming and its destructive power as a quasi-religious inevitability. See also POMO
Recession: See Depression
Risk On: Any Bull market
Rosenberg, David: A minor deity amongst the Perma-bear faithful. The very mention of his name causes a reverential hush to fall over the gathered masses as they hungrily devour his latest proclamations of death and dismemberment. See also Roubini, Faber, Rogers, Cassandra, et. al.
Stress Test: Hoax or Conspiracy
Subprime: The state of all credit in the US
Tony Robbins: The newest economic sage to warn of the coming economic apocalypse, most recently during August 2010; See also John Tudor Jones.
Unemployment: An irreversible condition, symptomatic of declining empires. Hence the reason no one in Great Britain ever found a job again after the 1830?s.
Uptrend: Not found.
Permabear to English Translation Guide
McHugh's Expanded Weekend Market Report, October 16, 2010
From McHugh
Friday's internals were weak, in spite of being a mixed market. The NASDAQ 100 had a huge price move up, but a significant chunk of the price gain came from one stock, Google. Google rose $60.52 per share, or 11.10 percent, in one day, Friday. Google is one of those stocks that a market manipulator can buy to move an index in the hopes it starts bandwagon buying. During the 2003 and 2006 rallies, we saw MMM move the Industrials with bizarre isolated rising price days. At the time, it appeared to us a market manipulator was moving the Industrials higher with 3M purchases. From time to time we see concerted efforts to push markets higher. Now is one of those times. But each time this happens, it causes the subsequent decline to be worse than would otherwise have been the case, like stretching a rubber band too far. The snapback is nasty. Deep pockets can only delay the inevitable. They cannot stop it. Quantitative Easing talk is raising expectations for liquidity infusions that people think will seep into stock markets. Hedge funds are buying stocks ahead of the actual Quantitative Easing from the Fed. QE2 is simply a fancy name for the Federal Reserve printing U.S. Dollars and buying fixed income securities from large Wall Street firms, buying junk bonds, corporate bonds, mortgage backed securities or Treasuries. It is essentially a fraud on U.S. Dollar holders, is a fraud on the taxpaying U.S. Consumer and Small Business, a fraud on the working person who has to get his money through hard labor. We will discuss this further later, and why this policy will destroy what is left of this fragile economy, and will eventually help drive stock market values down toward zero, and drive the U.S. Dollar down toward 40ish. QE2 is wonderful for large Wall Street firms' short-term profits. They love it. Imagine having a business where the Federal Reserve is interested in helping you make as much money as possible at the expense of everyone else? That is QE2.
We learned Friday that the U.S. Federal Deficit for the Fiscal Year Ending September 30th, 2010, was $1.3 trillion. With a total Federal Budget of $3.5 trillion, this means that for every dollar spent by the Federal Government, they had to borrow 37 cents to cover that expense. Can you imagine running your household or small business like that? You would go bankrupt in short order.
Quantitative Easing will some day be looked back upon as we now look at healing the sick through bleeding back in the 1700s. It is terrible economic policy, in fact should be considered criminal activity. Criminal for many reasons, such as debasing the value of the Dollar, but more importantly because it will be the final nail that destroys our economy. Wall Street is the key beneficiary. Households (consumers) which account for 70 percent of GDP, and small businesses, which account for 70 percent of employment, will not benefit from this fraudulent activity by the Federal Reserve. Where on earth is it right for someone to print trillions of Dollars out of thin air and then buy legitimate legally binding debt instruments in exchange for this printed paper? Anyone else doing this would be arrested and thrown in jail, with the key tossed into the deep blue sea.
But forgetting that this is probably a criminal act, and assuming that it is legally acceptable because the Central Planners enact legislation to permit QE2, let's explore why it is a fraud on pretty much everyone except the sellers of the fixed income securities the Fed will be buying, primarily mega Wall Street firms, surrogates for the president's Working Group (the Plunge Protection Team).
Bernanke suggested in his speech in Boston Friday on the subject of QE2, that he is justified in doing this to raise the inflation rate, which he believes is too low, and to increase employment. His economics are dead wrong. He believes it is perfectly appropriate to print trillions of dollars of U.S. Federal Reserve notes (Dollars) out of thin air, and then send this money from the Fed's print shop across the invisible wall that separates the real economy from the non-economy (the Fed) to the lucky recipients of this cash. Here is the problem: This transfer of printed cash for securities in the market are normally known as open market operations, and the point of this exercise is to lower interest rates in the market to spur lending and filter cash through Wall Street intermediaries to banks to borrowers which would stimulate the economy and multiply the money supply in the market. However, short-term interest rates are already zero, and long-term interest rates are at historic lows. So QE2 will not reduce interest rates. Therefore it will not increase borrowing. Therefore it will not multiply the money supply or spur spending, ergo it will not improve GDP, will not help households or small businesses. The cash will simply move from the Fed to Wall Street where the mega banks can then leverage their investing and trading activities which will improve their short-term profits. There will be no trickle down benefits to households or small businesses. Without benefits to households or small businesses, there will be no improvement in spending (GDP) or employment.
What will result from QE2 is the devaluation of the U.S. Dollar as there will be too many Dollars floating around, in relation to hard assets such as precious metals, and foreign currencies. This reduces the purchasing power of Dollars, and reduces the value of cash in bank accounts. In other words, the consumer gets hurt.
The only way QE2 makes any sense at all is if it is conducted in such a way that the cash being printed by the Fed finds its way directly into the hands of households and small businesses, instead of Wall Street. The only way for this to happen is if newly issued debt from the U.S. Treasury is sold to the Fed for newly printed Dollars, and then the trillions of QE2 Dollars sent to the Treasury from the Fed are sent directly to U.S. Households in the form of a massive income tax rebate, and tax cut, with a minimum amount of $50,000 rebated to every household, since many good folks did not have jobs over the past few years to receive rebated taxes. Then half the income tax rebates, which would be ideally two years worth, would be required to pay down debt, with the other half available to be used at households' discretion. The result would be an immediate improvement in household and bank balance sheets, and an increase in comsumer spending (GDP). This would increase small business revenue, which would increase hiring, which would result in an increase in demand for large firms' products and services, which would mean more investment banking business for Wall Street. The economy would grow, increasing the overall pie for all to share and prosper, with a resultant corresponding desirable modest level of inflation. Local, State and Federal governments would benefit immensely as they get an increase in tax revenues from the trickle up economic growth, capturing taxes at every level of spending, which can be used to reduce government deficits and debt. Stock Markets would rise as corporate revenues and profits rise.
If the intent of QE2 fails to include the household, it should not be allowed to happen. Congress must put a stop to QE2 immediately, and require a full explanation of the intended program before Bernanke destroys our economy. There should be an open debate in Congress on the merits of QE2, with testimony from all interested parties, in front of television cameras, for the American public to study before QE2 is effectuated. This is not something the Fed should conduct in secret. This is new turf, new territory for the Fed, and warrants careful scrutiny. The Justice Department needs to study if in fact the Fed is legally empowered to conduct QE2. This is serious stuff, an intentional devaluation of the U.S. Dollar, and thus needs to be treated as such. Intelligent, thoughtful contemplation is essential in an open public forum. Households and small businesses need to be able to weigh in by calling their congressional representatives before QE2 happens. QE2 should require an act of Congress. The Fed should not be allowed to do this on their own.
Unfortunately, the language of the markets, price patterns and indicators, have been warning for months that the U.S. Dollar is headed to 40ish (it knew QE2 was coming), and is telling us the stock market will react very badly once QE2 starts.
It does not look like there is any stopping QE2. The Central Planners are convinced that the more they do, the more control they take, the more they couch their activities with terminology that makes it impossible for the average Joe and Mary to understand what they are doing, the more they involve mega Wall Street firms in their fixes, the better. It is becoming very difficult to know if the Central Planners are simply misguided in their policies, that their intentions are good, that they really care about households and small businesses and the economy, or is this all an intentional game to benefit only the few large and powerful Wall Street banks, to build an oligarchy of Centralized power by design. That is for those who can figure out the schemes to decide for themselves.
The market's language, technical analysis, suggests that regardless of intention, mistakes will be conducted, and the worst will occur.
This weekend we see that the Bearish Divergences between stock prices and the 10 day average of Advancers/Decliners are worsening, extending, which is a leading indicator warning that a nasty stock market decline, albeit delayed, is coming.
We got a new Sell Signal in the VIX on Wednesday, as the VIX closed back inside its upper and lower Bollinger Bands Wednesday, and remains in effect this weekend. Sell Signals in the VIX have been very reliable and led to sharp declines over the past three years, however we did not get a sharp decline after September 7th, 2010's VIX Sell. For two consecutive VIX Sell Signals to fail in a row would be extremely rare, so the odds are that today's Sell Signal will lead to a sharp decline, starting sometime over the next week. Sometimes VIX Sell Signals come early. We show charts of these Sell Signals over the past three years and the subsequent declines on pages 10 through 13 in this weekend's newsletter to subscribers.
Both Gold and the HUI Mining Stocks Index hit new All-time Record Highs Thursday, October 14th, 2010, great for our Conservative Portfolio.
technicalindicatorindex.com
http://www.technicalindicatorindex.com/
Friday's internals were weak, in spite of being a mixed market. The NASDAQ 100 had a huge price move up, but a significant chunk of the price gain came from one stock, Google. Google rose $60.52 per share, or 11.10 percent, in one day, Friday. Google is one of those stocks that a market manipulator can buy to move an index in the hopes it starts bandwagon buying. During the 2003 and 2006 rallies, we saw MMM move the Industrials with bizarre isolated rising price days. At the time, it appeared to us a market manipulator was moving the Industrials higher with 3M purchases. From time to time we see concerted efforts to push markets higher. Now is one of those times. But each time this happens, it causes the subsequent decline to be worse than would otherwise have been the case, like stretching a rubber band too far. The snapback is nasty. Deep pockets can only delay the inevitable. They cannot stop it. Quantitative Easing talk is raising expectations for liquidity infusions that people think will seep into stock markets. Hedge funds are buying stocks ahead of the actual Quantitative Easing from the Fed. QE2 is simply a fancy name for the Federal Reserve printing U.S. Dollars and buying fixed income securities from large Wall Street firms, buying junk bonds, corporate bonds, mortgage backed securities or Treasuries. It is essentially a fraud on U.S. Dollar holders, is a fraud on the taxpaying U.S. Consumer and Small Business, a fraud on the working person who has to get his money through hard labor. We will discuss this further later, and why this policy will destroy what is left of this fragile economy, and will eventually help drive stock market values down toward zero, and drive the U.S. Dollar down toward 40ish. QE2 is wonderful for large Wall Street firms' short-term profits. They love it. Imagine having a business where the Federal Reserve is interested in helping you make as much money as possible at the expense of everyone else? That is QE2.
We learned Friday that the U.S. Federal Deficit for the Fiscal Year Ending September 30th, 2010, was $1.3 trillion. With a total Federal Budget of $3.5 trillion, this means that for every dollar spent by the Federal Government, they had to borrow 37 cents to cover that expense. Can you imagine running your household or small business like that? You would go bankrupt in short order.
Quantitative Easing will some day be looked back upon as we now look at healing the sick through bleeding back in the 1700s. It is terrible economic policy, in fact should be considered criminal activity. Criminal for many reasons, such as debasing the value of the Dollar, but more importantly because it will be the final nail that destroys our economy. Wall Street is the key beneficiary. Households (consumers) which account for 70 percent of GDP, and small businesses, which account for 70 percent of employment, will not benefit from this fraudulent activity by the Federal Reserve. Where on earth is it right for someone to print trillions of Dollars out of thin air and then buy legitimate legally binding debt instruments in exchange for this printed paper? Anyone else doing this would be arrested and thrown in jail, with the key tossed into the deep blue sea.
But forgetting that this is probably a criminal act, and assuming that it is legally acceptable because the Central Planners enact legislation to permit QE2, let's explore why it is a fraud on pretty much everyone except the sellers of the fixed income securities the Fed will be buying, primarily mega Wall Street firms, surrogates for the president's Working Group (the Plunge Protection Team).
Bernanke suggested in his speech in Boston Friday on the subject of QE2, that he is justified in doing this to raise the inflation rate, which he believes is too low, and to increase employment. His economics are dead wrong. He believes it is perfectly appropriate to print trillions of dollars of U.S. Federal Reserve notes (Dollars) out of thin air, and then send this money from the Fed's print shop across the invisible wall that separates the real economy from the non-economy (the Fed) to the lucky recipients of this cash. Here is the problem: This transfer of printed cash for securities in the market are normally known as open market operations, and the point of this exercise is to lower interest rates in the market to spur lending and filter cash through Wall Street intermediaries to banks to borrowers which would stimulate the economy and multiply the money supply in the market. However, short-term interest rates are already zero, and long-term interest rates are at historic lows. So QE2 will not reduce interest rates. Therefore it will not increase borrowing. Therefore it will not multiply the money supply or spur spending, ergo it will not improve GDP, will not help households or small businesses. The cash will simply move from the Fed to Wall Street where the mega banks can then leverage their investing and trading activities which will improve their short-term profits. There will be no trickle down benefits to households or small businesses. Without benefits to households or small businesses, there will be no improvement in spending (GDP) or employment.
What will result from QE2 is the devaluation of the U.S. Dollar as there will be too many Dollars floating around, in relation to hard assets such as precious metals, and foreign currencies. This reduces the purchasing power of Dollars, and reduces the value of cash in bank accounts. In other words, the consumer gets hurt.
The only way QE2 makes any sense at all is if it is conducted in such a way that the cash being printed by the Fed finds its way directly into the hands of households and small businesses, instead of Wall Street. The only way for this to happen is if newly issued debt from the U.S. Treasury is sold to the Fed for newly printed Dollars, and then the trillions of QE2 Dollars sent to the Treasury from the Fed are sent directly to U.S. Households in the form of a massive income tax rebate, and tax cut, with a minimum amount of $50,000 rebated to every household, since many good folks did not have jobs over the past few years to receive rebated taxes. Then half the income tax rebates, which would be ideally two years worth, would be required to pay down debt, with the other half available to be used at households' discretion. The result would be an immediate improvement in household and bank balance sheets, and an increase in comsumer spending (GDP). This would increase small business revenue, which would increase hiring, which would result in an increase in demand for large firms' products and services, which would mean more investment banking business for Wall Street. The economy would grow, increasing the overall pie for all to share and prosper, with a resultant corresponding desirable modest level of inflation. Local, State and Federal governments would benefit immensely as they get an increase in tax revenues from the trickle up economic growth, capturing taxes at every level of spending, which can be used to reduce government deficits and debt. Stock Markets would rise as corporate revenues and profits rise.
If the intent of QE2 fails to include the household, it should not be allowed to happen. Congress must put a stop to QE2 immediately, and require a full explanation of the intended program before Bernanke destroys our economy. There should be an open debate in Congress on the merits of QE2, with testimony from all interested parties, in front of television cameras, for the American public to study before QE2 is effectuated. This is not something the Fed should conduct in secret. This is new turf, new territory for the Fed, and warrants careful scrutiny. The Justice Department needs to study if in fact the Fed is legally empowered to conduct QE2. This is serious stuff, an intentional devaluation of the U.S. Dollar, and thus needs to be treated as such. Intelligent, thoughtful contemplation is essential in an open public forum. Households and small businesses need to be able to weigh in by calling their congressional representatives before QE2 happens. QE2 should require an act of Congress. The Fed should not be allowed to do this on their own.
Unfortunately, the language of the markets, price patterns and indicators, have been warning for months that the U.S. Dollar is headed to 40ish (it knew QE2 was coming), and is telling us the stock market will react very badly once QE2 starts.
It does not look like there is any stopping QE2. The Central Planners are convinced that the more they do, the more control they take, the more they couch their activities with terminology that makes it impossible for the average Joe and Mary to understand what they are doing, the more they involve mega Wall Street firms in their fixes, the better. It is becoming very difficult to know if the Central Planners are simply misguided in their policies, that their intentions are good, that they really care about households and small businesses and the economy, or is this all an intentional game to benefit only the few large and powerful Wall Street banks, to build an oligarchy of Centralized power by design. That is for those who can figure out the schemes to decide for themselves.
The market's language, technical analysis, suggests that regardless of intention, mistakes will be conducted, and the worst will occur.
This weekend we see that the Bearish Divergences between stock prices and the 10 day average of Advancers/Decliners are worsening, extending, which is a leading indicator warning that a nasty stock market decline, albeit delayed, is coming.
We got a new Sell Signal in the VIX on Wednesday, as the VIX closed back inside its upper and lower Bollinger Bands Wednesday, and remains in effect this weekend. Sell Signals in the VIX have been very reliable and led to sharp declines over the past three years, however we did not get a sharp decline after September 7th, 2010's VIX Sell. For two consecutive VIX Sell Signals to fail in a row would be extremely rare, so the odds are that today's Sell Signal will lead to a sharp decline, starting sometime over the next week. Sometimes VIX Sell Signals come early. We show charts of these Sell Signals over the past three years and the subsequent declines on pages 10 through 13 in this weekend's newsletter to subscribers.
Both Gold and the HUI Mining Stocks Index hit new All-time Record Highs Thursday, October 14th, 2010, great for our Conservative Portfolio.
technicalindicatorindex.com
http://www.technicalindicatorindex.com/
Friday, October 15, 2010
Thursday, October 14, 2010
Jim Grant: The World Is Abandoning the US Dollar
The dollar has seen its time. There could be a bounce, but really, no one trust the US. They just don't get it.
Jim Grant: The World Is Abandoning the US Dollar
Jim Grant: The World Is Abandoning the US Dollar
Monday, October 11, 2010
The Folly of Competitive Currency Devaluations - Casey's Daily Dispatch
As well as the folly of currency devaluations, a very good article on the folly of climate change.
Heads up....
The Folly of Competitive Currency Devaluations - Casey's Daily Dispatch
Heads up....
The Folly of Competitive Currency Devaluations - Casey's Daily Dispatch
Saturday, October 9, 2010
Friday, October 8, 2010
Thursday, October 7, 2010
Wednesday, October 6, 2010
Tuesday, October 5, 2010
Daniel Hannan MEP, possibly the sanest man on the planet: part 3/3
A great British stateman advising Americans
YouTube - Daniel Hannan MEP, possibly the sanest man on the planet: part 3/3
YouTube - Daniel Hannan MEP, possibly the sanest man on the planet: part 3/3
Monday, October 4, 2010
Sunday, October 3, 2010
Friday, October 1, 2010
US 'Practically Owned' by China so Buy Gold
John Paulson has 80% of his assets in Gold. Wow!!
Analyst: US 'Practically Owned' by China so Buy Gold
Analyst: US 'Practically Owned' by China so Buy Gold
Traveling Down the Road to Serfdom: History of Socialism from Marx to Obama | Yuri N. Maltsev
How Socialism works....from some one that has been there
YouTube - Traveling Down the Road to Serfdom: History of Socialism from Marx to Obama Yuri N. Maltsev
YouTube - Traveling Down the Road to Serfdom: History of Socialism from Marx to Obama Yuri N. Maltsev
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