Archive - Mar 11, 2011

Just because Deloitte has signed-off on China MediaExpress Holdings' filings and has yet to step-down does not mean there isn't any fraud. Unfortunately, some people seem to think Auditors are an all-knowing, all-powerful force for good to protect investors. This, the case is not.

First the bad news:

• It is coming. According to Japan's trade minister a leak will likely take place as the pressure is released imminently by TEPCO.

The good news:

• The radiation released will be small.

It is unclear if the same measurement methods as are used in the calculation of Core CPI will be applied in calculating leakage. As to whether this "small amount" of radiation is alpha, beta or gamma, those interested to find out will get an answer based on the amount of extra fingers grown over the next month.

I said it! Bill Gross said it (and put his money where his mouth was by selling off all US treasuries)! Common sense says it... Central Bank manipulated interest rates are too low. They will rise. What happens when they rise during a supply glut of real estate, foreclosure issues and a slow economy??? Put it this way... What made the markets crash in 2008: unemployment, slow economy, snow... Or real estate prices getting in touch with reality?

Earlier today, Goldman New York Fed plant, and Jan Hatzius predecessor, Bill Dudley, emerged from his ivory tower to make a trek to Queens to deliver prepared remarks written by some intern, discussing the prospering state of the New York burrough (speech link). Unfortunately for the multi-millionaire, things quickly went from Unicorny and Rainbowy to horribly wrong. During the Q&A, one audience member asked: "When was the last time, sir, that you went grocery shopping?" A stunned Dudley did not have the heart to elaborate that the caviar and ambrosia eaten on the Dudley family table is hand delivered through the Fed's G-6 from Kamchatka, so instead, as Reuters reports, he "tried to explain how the Fed sees things: Yes, food prices may be rising, but at the same time, other prices are declining. The Fed looks at core inflation, which strips out volatile food and energy costs, to get a better sense of where inflation may actually be heading." At which point he proffered his sage advice to the increasingly restless natives: "Let them eat iPad."

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 11/03/11