That saying couldn’t be more true (Gartman regularly echos this). Take today for example. Now, I like Barack, but it doesn’t matter what he says at this point. The global economy is contracting and even though the Government is working hard to cushion the landing, its going to be painful nonetheless.
Granted, the US markets have [...]
The US Government’s (Timothy Geithner’s) plan to structure a federally overseen “Bad Bank” is a terribly misguided notion. Taking toxic assets moving them from one place to another doesn’t change anything other than sustaining the careers of corrupt and greedy executives with $1400 wastepaper baskets.
The same goes with the GM bailout. I think Toyota would [...]
So its pretty much a lock. GM, Ford and Chrysler are most likely getting a bailout. You can argue against the idea citing that its just throwing good money after bad, but its going to happen.
I really enjoyed Michael Moore’s interview with Larry King from a few days back. In it, he shared his thoughts on the [...]
I haven’t been writing much lately about Swaplogic. I guess I’m completely distracted by what is going on the the stock markets. Its unbelievable. “Too big to fail” is now a phrase being thrown around in a ubiquitous manner. Although, it seems that the truth is absolutely to the contrary. Looks like Citi, GM, and [...]
Who else is in the soup line that goes around the corner?
Wasn’t the cause of the current market disorder judged to be caused by (in no particular order): deregulation, leverage, loose lending standards associated with subprime lending, securitization, credit default swaps, CDOs and greedy investment bankers. How did GM and the rest of the American automakers [...]
Not me…
The S&P just closed under 1000 for the first time since 2003. Many pundits are saying saying that a 9-handle, or even an 8-handle are not out of the realm of realistic possibility. All of this after Bernanke said the Fed is ready to slash rates, as well as acknowledging that inflation is less [...]
OK, so I’m getting a bit nervous about the Paulson Bailout vote that happens with the Senate tonight and the House tomorrow. Its become quite clear that the folks in the Senate and the House were scared six ways from Sunday after a 738-point drop in the Dow on Monday, and they’re very unlikely to let [...]
So on my way home last night, I got a call from a friend telling me that some politician was on TV today telling everyone to be ready for gasoline prices to spike 13-cents per litre overnight. He advised me to get there before the price shock hits. My first reaction? Ignore him, of course. Not surprisingly, [...]
Lookout! A reportout of the Commodity Futures Trading Commission has reported that Vitol Group, a Swiss energy trading company, were not in fact helping supply industrial firms with energy, rather speculating and keeping the inventory themselves. The report suggests that Vitol had as much as 11% of the outstanding oil contracts traded on the NYMEX, [...]
Via The Consumerist, the New York Times took the opportunity to feed the media frenzy the debt epidemic in America. The problem is, the article is not much more than a sob story about one of the millions of American citizens who have overextended themselves by borrowing during a lax credit cycle. This is nothing [...]
