Archive - Dec 16, 2009 - Blog entry

Nouriel Roubini, my favorite playboy economist, recently trashed gold. He's wrong for a lot of reasons. His arguments weren't that coherent. Spam, indeed. Instead of refuting him point by point, since others have already done that, I will just make my case for what I think will happen to gold. We'll see if my guess is better than his.

The deal for Treasury to sell $5b of Citi common has been pulled at the last minute. The excuse is they did not like the price. Baloney!

While all of this is short term noise, it is absolutely amazing that there would be this much commitment to the market after a 60% plus run in the S&P500.

Regulatory capture has allowed what was just a bunch of stinky bank balance sheets to literally threaten the economy. Here is another shining (or stinking, depending on your perspective) example.