Old Farmer’s Advice

| June 30, 2010

Old Farmer’s Advice: Your fences need to be horse-high, pig-tight and bull-strong.   Keep skunks and bankers at a distance.  Life is simpler when you plow around the stump.  A bumble bee is considerably faster than a John Deere tractor. Words that soak into your ears are whispered…not yelled.  Meanness don’t jes’ happen overnight.  Forgive […]

Britain ‘Might Not Cope With Another Bank Emergency’

| June 30, 2010

So, the big question is….can the U.S. cope with another banking emergency? By Sean O’Grady and James Moore Tuesday, 29 June 2010 Britain’s mountain of debt could leave the country powerless to launch another rescue bid in the wake of a fresh financial crisis, the world’s central bankers warned yesterday. Their “club” – the Bank […]

National Debt Soars To Highest Level Since WWII

| June 30, 2010

U.S. debt has gone from 40% of the economy in 2008 to 62% of the economy by the end of 2010.  Yikes! Jun 30, 2010 The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget […]

Foreclosed On Homes Supply Grows, Record Amount To Come

| June 30, 2010

By Dan Levy       Jun 30, 2010   Homes in the foreclosure process sold at an average 27 percent discount in the first quarter as almost a third of all U.S. transactions involved properties in some stage of mortgage distress, according to RealtyTrac Inc. A total of 232,959 homes sold in the period had received […]

The Free Lunch……Home Default Time It Takes To Evict

| June 29, 2010

“For the Baby Busters, It’s Downsize or Die”

| June 29, 2010

By: Richard Benson, SFGroup Living realistically is not something anyone wants to do in an election year, and it may be especially difficult for the Baby Boomer generation to grasp, along with their children.  Over the last two decades as wages swelled, and job prospects were unlimited, the Baby Boomers became accustomed to living well […]

RBS Tells Clients To Prepare For ‘Monster’ Money-Printing By The Federal Reserve

| June 28, 2010

This spells big big trouble for the world, it effects everyone every where……………..The ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, pointing to contraction in the US by the end of the year. It is dropping faster that at any time in the post-War era.   Andrew […]

Newest Map…. Gulf Of Mexico Oil Slick

| June 28, 2010

Here is the latest Gulf oil map………..    www.ingerletter.com

This Day In History…..World War I And How It Started!

| June 28, 2010

From Art Cashin on the floor of the New York Stock Exchange………..   On this day in 1914, a wrong turn changed the course of history.  Of course, things were different then, at that time, there was nationalism afoot in Eastern Europe.  The big flashpoint of nationalism was in what we used to call Yugoslavia. […]

An Update On Middle East Military Movements…..Gene Inger’s Daily Briefing For Tuesday June 29, 2010

| June 28, 2010

       Gene Inger’s Daily Briefing . . . for Tuesday June 29, 2010  At presstime:     We just learned that the USS Nassau (I have personally been on that ship just as a curiosity to note, with an officer friend of mine who flew a helicopter off LHA-4 at the time) Amphibious Assault Ship carrying 4000 Marines has […]

A Closer Look At The Second Leg Down In Housing

| June 28, 2010

By Barry Ritholtz By using traditional metrics: Whether we are looking at U.S. housing stock as a percentage of GDP or Median income versus home prices or even ownership versus renting costs, prices remain elevated. Indeed, we see prices remain above historic means. Consider price relative to income. From 1977 to 2010, the median U.S. […]

34 States Saw Tax Collections Decline In The First Quarter Of 2010 And That’s After A Record Amount Of Government Stimulous! 46 States Face Budget Shortfalls!

| June 27, 2010

34 states saw tax collections decline in the first quarter of 2010. State budget deficits projected well into 2010 – Plunging tax revenues reflect a weaker economy dragged down by pervasive unemployment and underemployment. $112 billion in state budget gaps for fiscal 2011. Posted: Sun, 27 Jun 2010 Big states with dismal budget short falls […]

As Many As 1.3 Million Americans Are About To Lose Their Jobless Benefits This Week, The Unemployment Rate Will Likely Surge To 10.5%

| June 27, 2010

A critical bill to extend unemployment benefits that was unable to pass congress last week will likely have lingering effects going forward.  This will be a big hit to Americans spending as 1.3 million unemployed Americans will have lost their assistance by the end of this week.  Beginning in July, there will be $2.4 billion less […]

USS Carrier Harry Truman Now Officially Just Off Iran, As Israel Allegedly Plotting An Imminent Tehran Raid

| June 27, 2010

The Pentagon has now confirmed that a fleet of 12 warships has passed the Suez Canal, and is now likely awaiting orders to support the escalation in the Persian Gulf.    We can’t be sure if the following is all true, so we would caution readers to view this news cautiously.  We should point out that according to […]

Caribbean Storm Strengthens, May Miss Oil Spill

| June 26, 2010

This may be the first sign of good luck in a while for the massive oil problem in the Gulf of Mexico! By Dan Hart and Brian K. Sullivan           Jun 26, 2010 Tropical Storm Alex bore down on the coast of Belize and the Yucatan Peninsula today, and may spare BP Plc‘s efforts to contain […]

States Of Crisis For 46 Governments Facing Greek-Style Deficits

| June 26, 2010

By Edward Robinson      June 25,2010 Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate. Lawmakers gridlocked over how to close a $19 billion budget gap are weighing the termination of the […]

New Song In Congress

| June 25, 2010

The New Song In Congress, Bye Bye Bonus For Wall Street And Banks!

Gene Inger’s Comments On The Gulf Oil Well

| June 24, 2010

Gene Inger……of the ingerletter.com Remember my comment about BP wanting to drill in 500 ft. not 5000 feet Gulf depth? Turns out that everyone (even the Pentagon and Secretary of Energy and the Pres. as well) signed-off on deep drilling. Their logic was self-sufficiency in-event war came with Iran and we needed nearly 8-10 months […]

‘The Whole Casing System Is Deteriorating’…..Shell Oil Ex-CEO

| June 24, 2010

  Sounds like the same thing Matt Simmons said a week ago!    Quotes – Former Shell CEO John Hoffmesiter  June 23, 2010… If you really want to stop a blowout the fastest way the most efficient way is you blow it in, you use explosives.   1:00 Hoffmesiter: Now the problem with that, that is […]

Gulf Oil Danger Of Tsunamis From Methane? This May Be A Low Probability Event But Let’s Review It Anyway

| June 24, 2010

London, UK A new and less well known asymmetric threat has surfaced in the Gulf of Mexico oil gusher. Methane or CH4 gas is being released in vast quantities in the Gulf waters. Seismic data shows huge pools of methane gas at the location immediately below and around the damaged “Macondo” oil well. Methane is […]

Rick Ackerman…..Negative Growth Dead Ahead!

| June 24, 2010

In Summary…….There will not be inflation, particularly if quantitative easing, debt monetization and stimulus are being abandoned. It is Contraction with a capital “C” and nothing less. Negative growth is coming…..We are witnessing a sea-change of events unfolding that to my way of thinking spell a certainty of a global recession if not worse. Yes, […]

Methane In Gulf “Astonishingly High”: U.S. Scientist

| June 24, 2010

Methane in Gulf “astonishingly high”: U.S. scientist (Reuters) – As much as 1 million times the normal level of methane gas has been found in some regions near the Gulf of Mexico oil spill, enough to potentially deplete oxygen and create a dead zone, U.S. scientists said on Tuesday. Texas A&M University oceanography professor John […]

Deutsche Bank: U.S. Financial Conditions Just Collapsed Back To Crisis Levels

| June 24, 2010

Vincent Fernando, CFA      Jun. 24, 2010 Deutsche Bank has a new and improved index of U.S. financial conditions, and this index just slumped back towards the lows of our recent crisis. Deutsche Bank’s Peter Hooper: Financial conditions appear to have worsened substantially in recent quarters based on our update of the broad index of US […]

Soros….Europe Needs To Grow Its Way Out Of Trouble

| June 23, 2010

Jun 23, 2010 Billionaire investor George Soros believes the euro is a flawed construct. According to Mr. Soros, the euro was an incomplete currency from the start as the EU’s 1992 Maastricht Treaty, which led to the creation of the euro currency, established a monetary union without a political union. In a speech for delivery […]

“In God We Trust” Has Been On American Coins Since 1866………Why Does The Government Want To Remove It Now? Take The CNBC Poll On This Important Subject

| June 23, 2010

NBC is presently taking a poll on “In God We Trust” to stay on our American currency.   Please send this to every person you know so they can vote on this important  subject.   Please do it right away, before NBC takes this off their web page. Poll is still open so you can […]

What Happens When, Not If….Interest Rates Rise!

| June 23, 2010

Source: Heritage Foundation

No Cluck For Our Buck!

| June 23, 2010

  Source: Heritage Foundation

Washington In Action

| June 23, 2010

  Source: Heritage Foundation

New Home Sales Are On A Ski Slope Downward!

| June 23, 2010

Fed Leaves Rates Unchanged, Citing Overseas Threats to U.S. Growth

| June 23, 2010

So now they tell us…….hasn’t this been ongoing for some time?   By CHRISTINE HAUSER Published: June 23, 2010 The Federal Reserve’s policy-making arm said on Wednesday that it had decided to keep short-term interest rates near zero for “an extended period” in light of continuing threats to economic growth, including “developments abroad.” The announcement […]

U.S. Strikes Back: Interior Secretary To Issue New Moratorium On Offshore Drilling In More Than 500 Feet…….

| June 23, 2010

From Reuters: Interior Secretary Ken Salazar will offer testimony later on Wednesday on why the government will appeal that ruling and seek to renew the ban. The ban was imposed after a well operated by British oil company BP exploded on April 20 and began spewing crude into the sea. “We see clear evidence every […]

New Brainstorm At Fannie Mae

| June 23, 2010

Fannie Mae To Deny New Mortgages To Deadbeats 06/23/2010    According to Dow Jones,  bankrupt GSE Fannie Mae, announced “it won’t back new mortgage loans for seven years for homeowners who walk away from their mortgages although they were able to pay or did not seek a workout in good faith with their lender.”  “”We’re […]

Magnitude 5.0 Hits ONTARIO-QUEBEC Border Region Of Canada

| June 23, 2010

Magnitude 5.0 – ONTARIO-QUEBEC   BORDER REGION, CANADA   2010 June 23 17:41:42 UTC   Earthquake Details   Magnitude 5.0 Date-Time Wednesday, June 23, 2010 at 17:41:42 UTC Wednesday, June 23, 2010 at 01:41:42 PM at epicenter Time of Earthquake in other Time Zones Location 45.862°N, 75.457°W Depth 18 km (11.2 miles) set by location […]

Coast Guard Reports Problems Occurred In The Containment Effort

| June 23, 2010

Something Broke: Containment Cap Removed From BP Oil Leak After Problems Encountered; Large Increase In Spill Rate…… By Tyler Durden on 06/23/2010 The U.S. Coast Guard said there may be 2 deaths, but the oil flow is not completely unrestrcited, and some oil was being burned off on the surface. More at: www.zerohedge.com Click on image for […]

George Soros Speaks About Europe…..

| June 23, 2010

As a general rule, what’s bad for Europe is usually bad for the U.S. eventually! Billionaire investor George Soros said continental European banks haven’t been “properly cleansed” after the credit crisis because they haven’t marked the value of their holdings to market prices. “The current crisis is more a banking crisis than a fiscal one,” […]

CalPERS Unlucky Again

| June 22, 2010

I guess we could say CalPERS (California Public Employees’ Retirement System) is just plain unlucky….either that or they’re plain stupid.  Maybe a little of both.  After dropping a quarter of the value (and that’s being generous, it may be greater) of its $200-billion portfolio during the recession of 2008 and 2009, the country’s largest public pension fund is […]

Bad News Blues For British Consumers….Osborne Increases U.K. Value-Added Tax Rate to 20%

| June 22, 2010

June 22, 2010  By Andrew Atkinson June 22 (Bloomberg) — British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades. “The years of debt and spending make this unavoidable,” […]

Wall Street Buyers Beware…. Lunar Eclipse This Weekend.

| June 22, 2010

This mention from Art Cashin,  Cashin’s Comments from the floor of The New York Stock Exchange………. That Looming Weekend Cycle – We mentioned last week that there was a bit of a buzz around the floor about a cycle of some kind that was to kick in this coming weekend.  We nosed around trying to get […]

Obama Administration Knew About Deepwater Horizon 35,000 Feet Well Bore, Green-Lighted And Fast-Tracked Project

| June 22, 2010

Submitted by Tyler Durden on 06/22/2010 President Obama and Secretary of Interior Ken Salazar, Secretary of Energy Steven Chu, and Defense Secretary Robert Gates were informed that BP would drill an unprecedented 35,000 feet well bore at the Macondo site off the coast of Louisiana. In September 2009, the Deepwater Horizon successfully sunk a well […]

Statfor…….Germany and Russia Move Closer

| June 22, 2010

  Germany and Russia Move Closer     By George Friedman | June 22, 2010 German Foreign Minister Guido Westerwelle will brief French and Polish officials on a joint proposal for Russian-European “cooperation on security,” according to a statement from Westerwelle’s spokesman on Monday. The proposal emerged out of talks between German Chancellor Angela Merkel […]

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