U.S. to Lose $400 Billion on Fannie, Freddie

| December 31, 2009

What a great investment for the government.   The situation is they are losing gobs of money, up to $400 billion in mortgages, Wallison a former general counsel at the Treasury  said in a Bloomberg Television interview. The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on […]

It’s Just Beginning…..State, Local Tax Revenues Decline 7%

| December 31, 2009

“Through the first three quarters of 2009 state and local tax revenues totaled $875 billion, nearly 8% below the $951 billion collected in the first three quarters of 2008. In the same period, federal receipts were down nearly 19%.” State, Local Tax Revenues Decline 7% By CONOR DOUGHERTY State and local tax revenues fell 7% […]

New Rules To Clarify Cost Of Mortgages In 2010, It’s Not Just Monopoly Money Any Longer

| December 30, 2009

DECEMBER 31, 2009 Rules to Clarify Cost of Mortgages By JAMES R. HAGERTY Americans have long struggled with the complexities of shopping for home mortgages. Now Uncle Sam is trying to help. Federal rules that take effect Friday require mortgage lenders and brokers to give consumers better estimates of the barrage of costs they incur […]

Smile, Your On Candid Camera……The New Scanners

| December 30, 2009

Security experts say the scanners may be the best defense in stopping attacks such as an attempt to bomb a Detroit-bound aircraft Christmas Day.

It Sure Looks Like We’re Losing Control Of The Uranium Issue

| December 30, 2009

Kazakhstan Claims To Be Worlds Biggest Uranium Miner By Isabel Gorst in Moscow Published: December 30 2009 Kazakhstan said on Wednesday it had overtaken Canada and Australia to become the world’s biggest uranium miner as nations rich in the resource ramp up production to sell into a resurgent nuclear power industry. The announcement came the […]

This Is Probably Not The Smartest Thing To Do To A Country That We Push Our Dollars And Debt On!

| December 30, 2009

U.S. Slaps New Duties On Chinese Steel By Alan Rappeport in Washington Published: December 30 2009 The US will impose tough new duties on Chinese steel piping imports, raising tensions with its biggest trading partner and emerging geopolitical rival. With Chinese piping imports worth $2.8bn in 2008, the case is the biggest against China brought […]

Heads Up Everyone…….Pessimism In U.S. Stocks Fell To The Lowest Level Since 1987

| December 30, 2009

Pessimism about U.S. stocks among newsletter writers fell to the lowest level since April 1987, six months before the 20 percent crash in the S&P 500 known as Black Monday. The proportion of bearish publications among about 140 tracked by Investors Intelligence fell to 15.6 percent yesterday from 16.7 percent a week earlier. Sentiment has […]

The Federal Reserve’s Balance Sheet Has Quietly Ballooned To Near Record Highs

| December 30, 2009

From Ian Mathias The 5-Minute Forecast… “One good reason to guard your finances in 2010: The Federal Reserve’s balance sheet has quietly ballooned back to near-record highs. The Fed announced yesterday that it’s balance sheet expanded to $2.22 trillion last week, it’s grossest level in nearly a year and just a hair from an all […]

How Do You Think Your Income Stacks Up Against Others

| December 29, 2009

How Your Income Stacks Up   by Kevin McCormally Where do you rank as a taxpayer? You may not feel rich earning $35,000 a year, but you’re in the top half of taxpayers. Make $70,000, and you earn more than 75 percent of fellow taxpayers. Even as the Great Recession ends, we know the economic […]

Euro Zone At Risk In 2010

| December 29, 2009

The European Commission warns that public finances in half of the 16 euro-zone nations are at high risk of becoming unsustainable. Governments will spend the next year and beyond balancing the urgent need to fix public-sector debt and deficits — without imperiling what appears to be a feeble economic recovery. Even the staunchest optimists in […]

Comments From Meredith Whitney, Wall Streets Hottest Bank Analyst

| December 28, 2009

Mortgage Anxieties Mean Limbo for Fannie and Freddie ………..Fannie Mae and Freddie Mac, which buy home mortgages from banks and package them into bonds sold to investors, have been bailed out with $1.5 trillion in direct and indirect government aid.   The approaching withdrawal of Fed support in the form of the mortgage-bond purchases risks a […]

U.S. Fixed Income In A Pickle For 2010…..Bottom line: Everyone has major problems at home, and they are more focused on the supply than the demand side of the equation. What options does this leave for the administration? Very few, and all of them are ugly.

| December 28, 2009

U S Fixed Income Has To Increase   Elevenfold… Or Else   by Tyler Durden on 12/25/2009 17:31 -0500  From www.zerohedge.com As everyone is engrossed by assorted groundless Christmas (and other ongoing bear market) rallies, and oblivious to the debt monsters hiding in both the closet and under the bed, Zero Hedge has decided it […]

Morgage Rates Could Be Heading For 7.5% To 8%

| December 27, 2009

If this happens, it will kill what ever bottoming action we’ve seen in real estate, crush commercial real estate and put the economy back in recession…….Yields on benchmark 10-year notes will climb about 40 percent to 5.5 percent, the biggest annual increase since 1999, according to David Greenlaw, chief fixed-income economist at Morgan Stanley in New […]

It’s Just Monopoly Money Folks

| December 27, 2009

“(ABC) “         The Senate voted Thursday to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Barack Obama has promised to address next year. The Senate’s rare Christmas Eve vote, 60-39, follows House passage last week and raises the debt ceiling […]

Gramps Says “Just Relax” We’ve Got A New Year To Look Forward To

| December 27, 2009

            

We’ve All Heard The Old Saying “Who Done It”…….Well This Is “Who Got It” As In The Money Handout From The U.S. Government

| December 27, 2009

Ever Wonder About How Retail Sales Components Breakdown?

| December 27, 2009

How Do You Spell Scumbag In English……How About B A N K

| December 27, 2009

Goldman Sachs and Others Investigated for Betting Against Securities They Created Sunday, December 27, 2009 Betting against their own securities has prompted numerous investigations of Goldman Sachs and other Wall Street institutions. Prior to the financial collapse, Goldman and others figured out a way to package risky securities, such as subprime mortgages, and sell them […]

The Best Commodity Gainers……….

| December 25, 2009

                 

Growing Inflation Expectations In 2010 With Steepest Yield Curve Ever

| December 24, 2009

 From The Daily Reckoning The yield curve – the difference in yield between a 2-year Treasury note and a 10-year Treasury note – sits at a record 285 basis points. Fork over your money to the gubmint for two years and you get a paltry 0.88%. But 10 years? You get 3.73%. Yes, that’s paltry […]

YRC The Worlds Largest Trucking Freightline Has Until Yearend To Avert Bankruptcy

| December 24, 2009

YRC Worldwide Inc  was the comination of Yellow Line Freight, Roadway and USF Corp.  They’re now the largest trucking freightline…….Uh, here is what Yellow Corp said back in 2005 with the purchase of USF Corp……………….OVERLAND PARK, Kan. & CHICAGO, Ill.  –This provides immediate and nationwide scale in next day and regional markets–Significant synergies and operational […]

Gold Comes Out On Top For The Last Decade

| December 24, 2009

Daily Reckoning……An Interesting Question?

| December 23, 2009

That America’s precarious financial condition continues to dance on the sharp end of pin is a marvel of modern macroeconomics. Even after deconstructing the whys and wherefores of this marvel, it becomes no less marvelous. Essentially, America borrows and spends as much as it wishes by issuing as many Treasury bills, notes and bonds as […]

From The Daily Reckoning………..Not So Tiny Bubbles

| December 23, 2009

Exactly one month ago, The New York Times ran a front-page headline, “Wave of Debt Payments Facing US Government,” and punctuated the point of the accompanying story with the chart below: The following day, we tipped our hat to the Grey Lady and re-produced the chart for the benefit of all Daily Reckoning readers who […]

Interest Rates May Be Set To Rise………

| December 22, 2009

Something to watch closely…….From Art Cashin’s comments from the floor of the New York Stock Exchange……   Things are beginning to stir in the bond market.  The deflationary shadow seems to be disappearing and rather rapidly.  Early signs of inflationary concerns are beginning to appear.  The action of the bond markets may be causing, or […]

On This Day In 1932…..America Was Spiraling Into The Depths Of The Depression

| December 22, 2009

On this day (+2) in 1931, America was spiraling into the depths of the Depression.  Thousands of banks had closed and there was a national panic that more closings might be imminent.  And, large corporations announced huge layoff programs, stunning many who thought they were safe.  Those who had a job were grateful just to […]

Mutual Fund Cash Levels Heading For A Record Low………….

| December 22, 2009

The S&P 500 is up 65 percent from its 2009 closing low and looks to close out the full year with a gain of greater than 20 percent. But looking at the latest mutual fund inflows, the retail Regular Joe chose the safety of bonds. More than $260 billion flowed into taxable bond funds this […]

Forty State Jobless Funds Will Be Broke In Two Years

| December 22, 2009

By Peter Whoriskey The Washington Post Mon., Dec . 21, 2009 The recession’s jobless toll is draining unemployment-compensation funds so fast that according to federal projections, 40 state programs will go broke within two years and need $90 billion in loans to keep issuing the benefit checks. The shortfalls are putting pressure on governments to […]

Forbes…..Trillions Of Troubles Ahead, Yes That’s Trillions

| December 21, 2009

Trillions Of Troubles Ahead   Bert Dohmen Not too long ago, a billion dollars in a governmental budget was a lot of money. Then we got into hundreds of billions. People understood that this was a lot, just because of all the zeros. Now, unfortunately, the number has become small: the world “trillion,” as in […]

The Second Wave Looks Like A Big One!

| December 21, 2009

The Second Wave of Mortgage Defaults By Jim Nelson Baltimore, Maryland Our economy is about to relapse into the disease that sent us into the Great Depression: Part Deux. Subprime loans caused the initial illness. Option-ARMs will cause the relapse. In the first half of the past decade, subprime loans were king. They were cheap […]

The Debt Bomb…We’ve Talked About This Until We’re Blue

| December 19, 2009

THE DEBT BOMB by Puru Saxena Editor, Money Matters December 18, 2009 BIG PICTURE- “It’s a question of how do you achieve the deleveraging. Do you go through a long period of slow growth, high savings and many legal problems or do you accept higher inflation? It would ameliorate the debt bomb and help us […]

Comstock Partners On Why We Remain Bearish

| December 18, 2009

Comstock Partners, Inc.Why We Remain Bearish December 17, 2009 The stock market rally has now reached a point where it is forecasting a V-shaped recovery that is not likely to happen. The recent catalyst for all of this optimism is a bullish interpretation of current economic activity, some apparent stabilization in the housing market and […]

Chinese Central Banker Speaks His Mind On The Dollar

| December 17, 2009

Chinese Central Banker Zhu Says Dollar Set to Weaken  By Bloomberg News Dec. 17 (Bloomberg) — Chinese central banker Zhu Min said that the dollar is set to weaken further and it will become more difficult for nations to buy U.S. Treasuries. “When the U.S. has to fund its deficit through the combination of issuing […]

Pimco’s Bill Gross Takes A Cautious Investment Stand

| December 17, 2009

Pimco’s Gross Boosts Cash to Most Since Lehman Failed By Wes Goodman and Garfield Reynolds Dec. 18 (Bloomberg) — Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., cut holdings of government debt and boosted cash to the most since Lehman Brothers Holdings Inc. collapsed in September 2008. Gross increased […]

New Growth In Nuclear Capacity Around The World

| December 16, 2009

From…..The Daily Reckoning China’s nuclear capacity is now less than 9,000 megawatts, but the country has more than a dozen more plants either under construction or in the planning stages. According to figures from the brokerage CLSA, the capacity could grow fivefold by 2015. The official target is 40,000 megawatts by 2020. Such an ambitious […]

Obama’s 47 Percent Approval Lowest Of Any President At This Point

| December 8, 2009

Obama’s 47% Approval Lowest On Record For This Point Bill Sammon       – December 08, 2009 President Obama’s job approval rating has fallen to 47 percent in the latest Gallup poll, the lowest ever recorded for any president at this point in his term.  President Obama’s job approval rating has fallen to 47 percent in […]

U. S. Federal Debt Keeps On Truck’in

| December 7, 2009

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Consumer Crdit Is Still Looking Tough

| December 7, 2009

From The Inger Letter        www.ingerletter.com Today’s latest report showed continued year-over-year declines for Consumer Credit; which is now an all-time one-year collapse which bears watching. I also believe that despite the protestations about credit not being available; consumer and business folks alike (at least those with basic smarts) aren’t inclined to borrow at this time, […]

Japan Releases Stimulus Package As Recovery Weakens

| December 7, 2009

Japan Releases Stimulus Package as Recovery Weakens By Keiko Ujikane and Toru Fujioka Dec. 8 (Bloomberg) — The Japanese government unveiled a 7.2 trillion yen ($81 billion) economic stimulus package amid signs the recovery and Prime Minister Yukio Hatoyama’s popularity are waning. Hatoyama’s first stimulus plan includes 3.5 trillion yen to help regions, 600 billion […]

Bernanke Sees ‘Formidable Headwinds’ for U.S. Economy

| December 7, 2009

Bernanke Sees ‘Formidable Headwinds’ for U.S. Economy By Craig Torres and Shobhana Chandra Dec. 7 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke said the U.S. economy faces “formidable headwinds,” including a weak labor market and tight credit that are likely to produce a “moderate” pace of expansion. “The economy confronts some formidable headwinds that […]

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