Archive - Nov 2009 - Blog entry

I think Putin is onto something. Now, if only we can figure out a way to redistribute income from Wall Street crooks back into the pensions they keep plundering.

The history of the dollar is one marked by a dominance unrivaled in history. Following the Bretton Woods Agreement of 1944, which established the dollar as the global reserve currency, Americans have enjoyed an era of unprecedented wealth and prominence.

I know you have heard a lot of negative stuff about commercial real estate, but most of it was after the fact, and the new stuff just doesn't seem to convey the gist of how far underwater many players actually are - or will be...

US mint halts sales of gold eagles, gold once again hits all-time highs, Tungsten comes back in fashion, Council on Foreign Relations propaganda rag asserts total dollar collapse "well before 2030".

Is Dubai a head fake? I think so. The main event is still in full swing.

The chickens are (just) starting to come home to roost...

The global liquidity rally has legs to run, so don't get too flustered by Dubai's debt woes.

Macro conditions are driving micro economics. An example.

Some things I am thankful for this year: John Hussman, The Baseline Scenario, AIG, inept government regulators, and of course, Goldman Sachs. Absent these I would have nothing interesting to write about. So, without further ado, here are some interesting links for those of you who are not enticed by the Cowboys vs. Raiders game.

What's going on in Los Angeles will soon be going on across the US and developed world. Don't think for a second that tough fiscal measures won't be taken to shore up public finances. And this will certainly mean curtailing pension benefits for new and existing public sector employees.

"Easing credit standards and expanding their lending substantially ... if not offset by Federal Reserve actions, could give additional impetus to spending and, potentially, to actual and expected inflation"

While we are eating the rest of the world goes on. "They" are going to be talking about us.

The battle over corruption inside the Fed and the control of our central bank by the big city banks had been going on for a century and more. That is why the scandal and criminality of the AIG bailout demand the attention of every American. Happy Thanksgiving, BTW

A review of the 3rd Quarter FDIC Regulatory data reveals a disturbing counter trend to the recent drop in early stage delinquencies. Across almost all loan portfolios, the 3rd Quarter delinquency number is higher than the Q2 figures.

According to a report from the investment specialist, the schemes have yet to return to pre-crisis levels - although many have posted impressive gains recently.