Reflections Across The Pond……….

| January 24, 2010

January 22, 2010 Euro Pacific Capital…….John Brownes Market Commentary Having been among the economic engines of Europe for much of the past decade, it appears as if the British economy has run out of steam. Inflation is rising while bankruptcies and unemployment continue to swell. It is a problem that would have left Lord Keynes’ […]

Banks Are Not The Only Problem…..Comstock Partners

| January 23, 2010

Comstock Partners, Inc. Banks Are Not the Only Problem January  2010 The President’s proposal to rein in the large banks is only a catalyst for a decline that was bound to happen.  There are lots of other reasons, both fundamental and technical, why the market has and will continue to sell off.  That the talking […]

The Hard Windy Road Ahead Of Us

| January 22, 2010

Quarterly Review and Outlook – Fourth Quarter   Hard Road Ahead The U.S. is facing a long and difficult road as it attempts to correct the over-indebtedness and wasteful expenditures of the past two decades. Both current and historical research help us to understand where we are in the continuing economic crisis, and to put […]

Illinois Enters A State Of Insolvency….This Is One Scary Report

| January 22, 2010

By Paul Merrion, Greg Hinz and Steven R. Strahler   Jan. 18, 2010 As Illinois’ fiscal crisis deepens, the word “bankruptcy” is creeping more and more into the public discourse.”We would like all the stakeholders of Illinois to recognize how close the state is to bankruptcy or insolvency,” says Laurence Msall, president of the Civic […]

Who Shot The Bull On Wall St

| January 21, 2010

Homebuilders Turn To Private Equity For Financing

| January 21, 2010

By John Gittelsohn Jan. 21 (Bloomberg) — More than 40 U.S. homebuilders have teamed up with private equity firms to acquire and complete unfinished subdivisions as banks cut construction lending. The investments will pay off for the builders and their investors if the prices are low enough and the locations are in areas where demand […]

Stratfor………China: Lending Restrictions

| January 21, 2010

    China: Lending Restrictions and Beijing’s Predicament Stratfor Today | January 20, 2010 | 1808 GMT Liu Mingkang, head of the China Banking Regulatory Commission (CBRC), said in an interview Jan. 20 that several Chinese banks had been asked to restrain their lending after proving to have inadequate capital reserves. Chinese media reports claimed […]

World Oil Demand Is Picking Up……

| January 21, 2010

 

Obama Calls For Limiting Size, Risk-Taking Of Banks

| January 21, 2010

By Nicholas Johnston and Julianna Goldman Jan. 21 (Bloomberg) — President Barack Obama, tapping into voter anger over bank bailouts, called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking and prevent another financial crisis. The proposals, to be added to an overhaul of regulations being considered by […]

Gene Inger Of The Inger Letter Reviews A Critical News Day

| January 21, 2010

Gene Inger’s Daily Briefing . . . for Friday January 22, 2010:   Good evening;   Bloody murder . . .may be screamed by some financial institutions (mostly in the so-called ‘too big to fail’ crowd) in the wake of already-brewing moves against quick resumptions of their old tactics, in trading but while withholding lending, […]

2009 Airline Revenue: Worst Drop Ever

| January 20, 2010

Airline Revenue: Worst Drop Ever By Ben Rooney, staff reporterJanuary 20, 2010: 1:05 PM ET NEW YORK (CNNMoney.com) — The airline industry suffered its largest drop ever in passenger revenue last year as a weak economy grounded many would-be travelers, an industry group said Wednesday. The Air Transport Association of America said total passenger revenue […]

Credit Card Companies Pulling Back……

| January 19, 2010

Credit cards are ubiquitous like air in the American economy.  Virtually every American that can qualify for a credit card has one (or many) in their wallet.  Credit card companies have flooded the market with millions of plastic rectangles that have now come back to bite many American consumers.  If we rewind back to the […]

Cumberland Associates Reads The Room….“I’m Mad As Hell And I’m Not Gonna Take It Any More”

| January 19, 2010

“I’m Mad as Hell and I’m Not Gonna Take it any More” January 19, 2010. 9:34 PM, Massachusetts time   The title of this missive comes from “Network” an award winning 1976 American satirical film.  We remember it then and respect it now.   “I’m mad as hell and I’m not gonna take it any […]

How Governmental Poop Flows

| January 18, 2010

Automakers Starting To Hire Again….As They Expect A better Year Ahead

| January 18, 2010

   By Jerry Hirsch January 18, 2010 Even as they finish closing plants from their worst sales year in decades, beleaguered automakers are also starting to hire again — almost 5,000 workers in the coming year. The added jobs amount to just a fraction of the roughly 40,000 that carmakers shed during their tailspin last […]

How Is Main Street America Doing? Main Street America Is Screwed

| January 17, 2010

Just think about the bailouts and which companies were saved.  We ended up bailing out the worst performing and troubled companies thus keeping alive companies that should have completely failed.  Did we bail out Google?  Proctor and Gamble?  Of course not.  These companies actually produce something that people want.  Banks and especially the Wall Street […]

Commercial Real Estate Now Worse Than Residntial

| January 17, 2010

Some of you are probably not aware that the commercial real estate market has crossed a dreaded line in the sand. Commercial real estate (CRE) that includes apartments, industrial, office, and retail space is now performing worse than residential real estate. Not just by a little but by a good amount. While the CRE bust […]

I Got Your Backside Covered, Really….I Do!

| January 16, 2010

New GEAB Just Out…..The Decade 2010 – 2020

| January 16, 2010

Newest GEAB N°41 Is Available! The Decade 2010 – 2020: Knockout Victory By Gold Over The Dollar   – GEAB N°41 (January 16, 2010) – The US Federal Reserve is no longer able, in reality, to continue its multi-decade combat against the « barbarous relic » in order to guarantee the supremacy of the US […]

Just The Facts Please………….

| January 16, 2010

Comstock Partners, Inc. The Bank Chiefs’ Incredible Testimony January 14, 2010 When we saw the esteemed chiefs of the nation’s top banks testify that nobody could foresee the coming devastating residential mortgage problem or that home prices could ever come down we stared at our TV sets in disbelief and disgust.  After all, we had […]

Comstock Partners……Recovery Or Recession? A Distinction Without A Difference

| January 16, 2010

Comstock Partners, Inc. Recovery or Recession? January 2010 Bombarded by a constant stream of primary, secondary and tertiary economic statistics being released daily with a highly positive spin in the financial media, investors need to be reminded that the numbers that really count indicate an economy still in a deep rut.  Let’s take a look at […]

A World Of Problems, All Related To Debt

| January 16, 2010

Eurozone central-bank president Jean-Claude Trichet yesterday described the idea that Greece will be forced to quit the monetary union because of its huge budget deficits and weakening government bonds. Greece today submits a new budget to the European Commission, aimed at cutting its debts from 113% of annual economic output. “These internal strains are independent […]

Seven Ways To Put The United States’ National Debt Into Perspective…

| January 16, 2010

The SHEER SIZE of the US government’s debt hasn’t put off new bond buyers so far in 2010. You’ve got to wonder what kind of news – or debt – it might take to deter them In just two days this week, the Treasury issued $61 billion in new debt – twice as much money […]

PIMCO’s El-Erian…..Markets Not Facing ‘Reality’ Of Slow Economy

| January 15, 2010

Markets Not Facing ‘Reality’     Jan 15,  2010  Financial markets have failed to price in the remaining problems that bedevil a long-term economic recovery, Pimco’s Mohamed El-Erian told CNBC. Inconsistencies that the market faces include the tax on bailed out banks that President Obama announced Thursday and its effects on their ability to lend; long-term […]

JP Morgan Earned $11.7 Billion Last Year, Has Earmarked $26.9 Billion, Mostly For Bonuses

| January 15, 2010

JP Morgan Chase Earns $11.7 Billion in Year By ERIC DASH Published: January 15, 2010 JPMorgan Chase kicked off what is expected to be a robust — and controversial — reporting season. In a remarkable rebound from the depths of the financial crisis, JPMorgan earned $11.7 billion last year, more than double its profit in […]

The U. S. Dollar Chart

| January 14, 2010

Barclays “Good”, “Central” And “Ugly” Scenarios

| January 14, 2010

  THE PROBABILITY OF A CRISIS WILL BUILD DURING 2010   January 2010 So says the team of equity analysts at Barclays.   Although policymakers helped avoid the second Great Depression, Barclays believes we have simply kicked the can down the road.  As their head of U.S. equity strategy said in November, the likelihood of Japanese […]

Star Gazer Arch Crawford Has An Outlier Opinion

| January 14, 2010

Is It Written In The Stars?– Peter Brimelow devotes his column this morning to the latest projections from Arch Crawford.  Crawford in case you didn’t know, bases many, in fact most, of his projections through the use of astrology. Brimelow noted that Crawford sees not just another crash this year but dramatic societal changes to go with […]

Interesting Comments From Art Cashin On The Floor Of The New York Stock Exchange

| January 14, 2010

Chatter About The Latest Mystery In The Treasury Market – Stock traders spend a lot of time watching interest rates.  So, they have homed in this huge Treasury auctions this week.  The auctions have gone much better than expected.  That may be the result of aggressive bidding by one mysterious bidder.  Here’s how the FT […]

Retail Sales Unexpectedly Decline In December, Inventories Rise

| January 14, 2010

U.S. retail sales fell unexpectedly in December, signaling restraint by consumers during the holiday season.  In a separate report, inventories rose by more than forecast for December, helping to temporarily add to the economies recovery in the last quarter of 2009. Excluding car sales, all other retail sales in December fell 0.2% vs. an expected 0.3% […]

Gene Inger…..Credit Woes Piling Up

| January 13, 2010

Gene Inger’s Daily Briefing . . . for Thursday January 14, 2010   Good evening;    Credit woes piling up . . . threaten to dose the optimism generated by a false rally in terms of the extension by the stock market. This will be felt (didn’t say may be felt) by a slew of […]

Rare-Earth Elements That Rule The Globe

| January 13, 2010

Elements That Rule The Globe Rare-earths are so-called because when they were first discovered in the 19th Century in Sweden, they were believed to be some of the most uncommon elements. But through further scientific discovery, rare-earths have been found to be relatively abundant in the Earth’s crust. However, the high cost of extraction means […]

Chart Of The Day

| January 13, 2010

Dollar Music

| January 12, 2010

Bank Of America Targets Commercial Real Estate For 2009 And 2010

| January 12, 2010

Bank of America  blew away the competition last year in the business of underwriting stock offerings by commercial real-estate firms. The secret of success: Bank of America leveraged its relationships with real-estate borrowers to generate a flood of investment-banking work, much of it handled by former Merrill bankers who decided to stick around after the […]

Hmm…..Question Is “What Kind Of Recovery Produces Falling Jobs And Wages”

| January 11, 2010

21 Reasons This Isn’t The Start Of A New Bull Market

| January 10, 2010

You wanna see 21 reasons why we’re not embarking on a new secular bull run, despite what you’ll read in the popular press? Check out the table below, courtesy of our friends at Gluskin Sheff:  Click on the box below to enlarge……….. Thanks to…..http://www.minyanville.com/articles/todd-harrison-markets-minyanville-stock-finance/index/a/26255

Organ Donors Business May Gain Monetary Incentive

| January 10, 2010

In March 2009 Singapore legalized a government plan for paying organ donors. Although it’s not clear yet when this will be implemented, the amounts being discussed for payment, around $50,000, suggest the possibility of a significant donor incentive. So far, the U.S. has lagged other countries in addressing the shortage, but last year, Sen. Arlen […]

Alan M. Newman’s Stock Market CROSSCURRENTS

| January 10, 2010

Here are some comments from the Alan M. Newman Stock Market CROSSCURRENTS  Report out for January 2010…………….. On the hourly charts, there are a series of bottoms just above Dow 10,200 dating back to November 12th.  When this level breaks, we should be on our way and accelerate down to anticipated support between 8100-8400.  We do not see […]

U.S. Apartment Vacancy Rate Hits 30-year High While Rents Dropped

| January 9, 2010

U.S. apartment vacancy rate hits 30-year high Thu Jan 7, 2010 1:01am EST By Ilaina Jonas NEW YORK, Jan 7 (Reuters) – The U.S. apartment vacancy rate rose to an almost 30-year high of 8 percent in the fourth quarter, and rents dropped in the biggest one-year slump, according to real estate research company Reis […]

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