Counter Argument……David Kotok: A Euro Bull Waiting For Storm To Pass

| February 27, 2010

  David Kotok: A Euro Bull Waiting For Storm To Pass Written by Lara Crigger  -  February 26, 2010 11:56 AM  David Kotok is the co-founder, chairman and chief investment officer of Cumberland Advisors, a New Jersey-based money management firm. His thoughts on the financial markets have appeared in various media outlets, including CNBC, the […]

Hey Spike….That’s Our New Name For The Government Cash For Clunkers And Home Buyer Tax Credit Programs!

| February 27, 2010

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Freddie Mac Said Friday They Aren’t Going To Buy Any More Securitized Loans. Gee This Is Incredible; ‘Now’ They Finally Figure Out That They Have Simply Dug Their Holes Deeper!

| February 27, 2010

Bad seats, hey buddy….or Freddie as the case may be!   www.ingerletter.com

Dennis Gartman Of The Gartman Letter Is Interviewed On The Euro

| February 27, 2010

Written by Lara Crigger  -  Posted February 27, 2010   Dennis Gartman is the mind behind The Gartman Letter, a daily newsletter discussing global capital markets. For over 20 years, The Gartman Letter has tackled the political, economic and social trends shaping the world’s markets, and Gartman himself is a frequent guest on CNBC, Bloomberg and […]

Yes, Debt Does Matter……Bernanke Warns Congress That The Central Bank Will Not Help Legislators By Printing Money To Pay For The Ballooning Federal Debt!

| February 27, 2010

Bernanke is now joining Rosenberg, Ferguson and Faber, Edwards, Grice and many others in warning that the debt crisis rearing its head in Greece may spread to America, causing  U.S. interest rates to climb. As the Washington Times wrote yesterday: With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the […]

It’s All In The Multiplier….Kinda like Rabbits, But When They Don’t Multiply Like They Should, What Happens? The Rabbit Population Goes Down, Not Up. Same For The Feds Supply Of Money And Bank Deposits. They’re Not Being Loaned Out So They Can’t Multiply. Until This Changes, Leverage Will Be A Killer Of Wealth!

| February 27, 2010

“By increasing the volume of their government securities and loans and by lowering Member Bank legal reserve requirements, the Reserve Banks can encourage an increase in the supply of money and bank deposits. They can encourage but, without taking drastic action, they cannot compel. For in the middle of a deep depression just when we […]

Cumberland….Commercial Real Estate: More Trouble Ahead

| February 26, 2010

Cumberland Advisors   Commercial Real Estate: More Trouble Ahead February 26, 2010  “Between 2010 and 2014, about $1.4 trillion in commercial real estate loans will reach the end of their terms. Nearly half are at present underwater that is, the borrower owes more than the underlying property is currently worth. Commercial property values have fallen […]

The Big Government Divergence

| February 25, 2010

The divergence has accelerated as the recession has deepened! Unfortunately, the employment trends depicted in the nearby chart are not the trends that typically produce national prosperity. If government employment were to continue rising while private sector employment fell, the economy would become less productive…at least that would be our guess. (Picture the post office operating […]

The New Wave Of Side Taxes Are Just Starting

| February 25, 2010

Tracy Residents Now Have To Pay For 911 Calls Posted     February 25,2010 Tracy, California residents will now have to pay every time they call 9-1-1 for a medical emergency. But there are a couple of options. Residents can pay a $48 voluntary fee for the year which allows them to call 9-1-1 as many times as […]

Former Federal Reserve Chairman Alan Greenspan And Janet Yellen Of The San Francisco Fed Sound The Alarm On The Economy

| February 24, 2010

From the floor of the New York Stock Exchange, Art Cashin talks about early week comments from Ex Fed Chairman Alan Greenspan and SF Fed President Janet Yellen……….Not good, to say the least!     WASHINGTON — Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was “extremely unbalanced,” driven largely by high earners […]

Americas New Frugality….

| February 24, 2010

It is hard to even comprehend that breakfast sales accounted for $57 billion in revenue.  However, with more people out of work many are skipping breakfast or eating at home.  On my early morning drives I will always see cars pulling up to McDonalds or Starbucks for that early morning purchase.  The lines seemed a […]

The Plunger….New Home Sales Unexpectedly Fall Setting A Record Low

| February 24, 2010

WASHINGTON—U.S. new-home sales unexpectedly fell in January, setting a record low and erasing all gains made in the market during the past year as the economy recovers from recession. Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday. Economists surveyed by […]

Goldman Sachs Ends Bet On Higher Copper Prices Based On Recovery Outlook

| February 24, 2010

This should pretty much tell the story on copper and the recovery, Goldman has the inside track on many things.     Goldman Sachs Closes Copper Bet on Recovery Outlook By Stuart Wallace Feb. 24 (Bloomberg) — Goldman Sachs Group Inc. ended its recommendation to bet on higher copper prices because of concern that economic recovery […]

The New China And Its Problems That Lie Ahead

| February 24, 2010

This may happen sooner rather then later based on how much real estate they’re building over there (many entire new towns and cities are being built on speculation and sitting empty.)  …..China’s economic growth will plunge to as low as 2 percent following the collapse of a debt- fueled bubble within 10 years, sparking a regional […]

What Happens After The First Domino Falls?

| February 23, 2010

Sometimes A Picture Says A Thousand Words

FDIC Hits Record “Default” Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion

| February 23, 2010

FDIC Hits Record “Default” Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion From Dow Jones: The U.S. banking industry continued to struggle in the fourth quarter, as the number of banks on the brink of failure continued to rise and the government’s fund to protect deposits fell sharply into the […]

Gramps Says Relax……I Got Your Backside Covered

| February 23, 2010

Home Morgage Negative Equity……Where Does Your State Stand

| February 23, 2010

It’s Called Social Alchemy…….The Makeup Of Social Rule And Structure

| February 23, 2010

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Figures In The People’s Liberation Army Are Said To Want The Financiers To Sell U.S. Bonds As A Way Of Punishing Washington For Selling Arms To Taiwan

| February 23, 2010

Dan Denning, Reporting From Melbourne, Australia… Recently we claimed that borrowing your way to national prosperity is a sure-fire way to servitude and political instability. Today, we aim to prove it. To do so, we cite this article from Reuters. It suggests that China is using or should use its large holdings of US Treasury […]

Shiller Says Government Support Is Tied to Housing Recovery

| February 23, 2010

Shiller is saying that the real estate market is artificial in nature.  Sounds like the “free market” is down the drain, everything is now supported by the U.S. government.  So…..what happens when the government backs off on these gift programs?  The fear and logical conclusion is down we go until we find a “free market” bottom based on […]

U.S. Unprepared for Cyber War

| February 23, 2010

U.S. Unprepared for Cyber War, Former Top Spy Official Says By Jeff Bliss Feb. 23 (Bloomberg) — The U.S. isn’t prepared for a massive attack on its computer networks by another country, a former top intelligence official said. “If the nation went to war today, in a cyber war, we would lose, former Director of […]

Consumer Confidence Takes A Dive

| February 23, 2010

Federal Government Debt Per Person

| February 23, 2010

The Two Income Trap

| February 22, 2010

It’s Just A Matter Of Time Before We Can Say Goodbye to Historically Low Mortgage Interest Rates

| February 22, 2010

Quantitative Easing and the Electronic Money Printing Machine – Saying Goodbye to Historically Low Mortgage Interest Rates. Federal Reserve 95 Percent Complete on Buying $1.25 Trillion in Mortgage Backed Securities. Posted    02-22-2010 People forget that quantitative easing is a form of creating something out of nothing.  This extreme form of monetary policy is called upon […]

Uh…..I Think We’re Going To Be Out Numbered By A Godzillion

| February 22, 2010

A Five-Step Guide to Contagion….By Todd Harrison Of Minyanville

| February 22, 2010

A Five-Step Guide to Contagion By Todd Harrison Feb 10, 2010 7:35 am Why European debt matters to the United States Times are tough and those struggling to make ends meet have focused their efforts close to home. That’s a natural instinct but it doesn’t change the fact that problems on the other side of […]

Europe: The Saga Continues…… How Derivative Magic Can Turn Into A Black Hole

| February 22, 2010

 Dr Joe Duarte February 22, 2010  How Derivative Magic Can Turn Into A Black Hole   The Euro rallied for a period overnight, as rumors of a bailout package from Germany aimed at Greece surfaced. But a denial from the German Ministry of Finance knocked the European currency below Friday’s close. That’s the scenario with […]

Stratfor’s Latest Geopolitical Report

| February 22, 2010

February 22, 2010   By George Friedman The apparent Israeli assassination of a Hamas operative in the United Arab Emirates turned into a bizarre event replete with numerous fraudulent passports, alleged Israeli operatives caught on videotape and international outrage (much of it feigned), more over the use of fraudulent passports than over the operative’s death. […]

The Long Term Unemployed

| February 21, 2010

Buffett’s Warning Of “Dangerous Business” Grips Bond Insurers

| February 21, 2010

Buffett’s Warning Of “Dangerous Business” Grips Bond Insurers By Christine Richard and Darrell Preston   Feb. 19 (Bloomberg) — Forewarned bankruptcies linked to infrastructure projects from Las Vegas to Harrisburg, Pennsylvania, may prove Warren Buffett’s conclusion that insuring municipal bonds is a dangerous business. Ambac Financial Group Inc., the second biggest bond insurer, faces as much […]

California Governor Says Economy Shows Signs Of A Slow Comeback

| February 21, 2010

As saying goes, it starts in California and moves east……I would think we can hang in there until the long term cycles take us back down to a more lasting bottom between 2012 and 2014.  Interestingly….. President George Bush’s Treasury Secretary Hank Paulson in his new book “On The Brink” (worth reading for everybody by the way) […]

Creditable Solutions To Reviving The U.S. Economy Without Tax Increases.

| February 21, 2010

IF YOU WANT CREDITABLE SOLUTIONS ……to our nation’s fiscal problems, go to a creditable source. Indiana Gov. Mitch Daniels gives his ideas for restoring our economy — which can be done, he says, without tax increases. Daniels is a man of deep thought and bold action. His state has one of the strongest balance sheets in the country, […]

Citigroup Warns Customers It May Refuse To Allow Withdrawals……Then Relents And Says It Was Accidentally Included On Customer Statements Nationwide.

| February 20, 2010

Citigroup Warns Customers It May Refuse To Allow Withdrawals John Carney   Posted February 20, 2010 The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from […]

US Bank Lending Falls At Fastest Rate In History……Bank lending in the US has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.

| February 20, 2010

By Ambrose Evans-Pritchard, International Business Editor . Posted February 20, 2010 . David Rosenberg from Gluskin Sheff said lending has fallen by over $100bn (£63.8bn) since January, plummeting at an annual rate of 16pc. “Since the credit crisis began, $740bn of bank credit has evaporated. This is a record 10pc decline,” he said. Mr Rosenberg […]

Gene Inger Reviews The Bernanke Hike Of Feds Discount Rate

| February 18, 2010

Gene Inger’s Daily Briefing . . . for Friday February 19, 2010:   Good evening;      On top of the market’s cyclical roof . . . sits tradition. Perhaps not Zero Mostel but a ‘Fiddler on the Roof’ nevertheless (and there is a slight resemblance with Bernanke I’d say; minus a couple hundred pounds). Tradition holds […]

Now What ? Back-Up Plan B Or C

| February 18, 2010

WASHINGTON (AP) – The government said Tuesday that foreign demand for US Treasury securities fell by the largest amount on record in December with China reducing its holdings by $34.2 billion. The reductions in holdings, if they continue, could force the government to make higher interest payments at a time that it is running record […]

The Developed World Is Driving A Crooked Road

| February 18, 2010

What is astonishing is the fact that America is funding a large portion of its newly issued debt by direct purchases from the Federal Reserve. In other words, as private-sector demand for US Treasuries wanes, Mr. Bernanke is creating new money so that Mr. Obama’s government can bail out insolvent financial institutions. Strangely, the American […]

Comtock Partners Says Economic Momentum May Have Already Peaked

| February 18, 2010

Comstock Partners, Inc. Economic Momentum May Have Already PeakedFebruary 18, 2010 Don’t look now, but economic momentum, as sluggish as it was, may have already peaked.  Fiscal support for the economy may be more of a restraint as the year goes by, and any attempt at additional stimulus will face major headwinds as public sentiment […]

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