Archive - Dec 17, 2009 - Blog entry

At least a few MDs at Morgan Stanley DO read my blog, but it is obvious that the guys in the real estate division don't. Early in 2008 I named Morgan Stanley the "The Riskiest Bank on the Street". The following is one of the reasons why.

In Whitehorse on Thursday, Canada’s finance ministers met to discuss the future of Canada’s pension system. No agreements are expected on how to enhance Canadians’ retirement savings. A pension summit is expected to take place later this year, but the public already knows what it wants: to retire with dignity.

Could a prolonged high unemployment rate, typified by the much touted "Jobless Recovery", cause a market crash in the not so distant future?

In this 12.17.09 edition of the Fibozachi Technical Update (FTU), we present detailed technical profiles of the US Dollar Index, Gold Futures, Silver Futures, the VIX (CBOE Volatility Index) and the S&P 500 Cash ...

I have no axe to grind, I'm only trying to examine what is true.

This is related to economics and business because governments are contemplating spending a lot of money on climate, and to require businesses to do certain things. Indeed, I just received an email from a financial newsletter titled "What Does Global Warming Have to Do with Energy Stocks?". And there are global carbon ETNs. And last but not least - if global warming advocates are right - the natural systems on which our economy relies are at stake.

How big a deal is Greece? Potentially real big. This story has all the pieces for something to get out of control. If the potential for chaos exists, the markets tend to gravitate towards it. Every day we seem to get a bit closer.

There are many comments surrounding the return of TARP. I think one of the most important points are being missed. Most of these banks swore that they didn't need TARP. Despite this, in order to return it, they must go back out to the capital markets. Why do you have to hit the market to return a loan that you said you didn't need, unless you needed it? This obvious lie has went unchallenged.

I really wonder what possesses people to believe these sales pitches,
hook, line and sinker... Seriously, what the hell was this guy
thinking???

Earlier this week, I noticed that PSP posted the audio that accompanied the 2009 annual public meeting. I will follow-up on last week's comment by going over the presentation given by PSP's President & CEO, Gordon Fyfe. Listen to the flimsy explanation given as to why PSP does not disclose their private market benchmarks...