Archive - Dec 2, 2009 - Blog entry

"We would not be surprised to see more sovereign debtors make unilateral announcement of debt moratoriums and/or restructurings, perhaps including even oil rich Venezuela. We notice in that regard that Venezuela’s lider maximo, Hugo Chavez, is preparing to nationalize the few remaining private banks of that nation, usually a good indicator of an approaching sovereign debt default."

$48 billion over 30 years, and it's just the beginning. Don't say I didn't warn you...

Heck of a job, Larry, Tim and Ben...

Foreign Policy magazine has just come out with its list, “The FP Top 100 Global Thinkers." They rate the intellectual giants, the Big Thinkers, the Big Brains of our current world. It is the most pompous fluff piece that I have seen in, well, quite a while. It just brims with a lack of intellectual rigor, reason, and good scholarship. It is a kind of Parade magazine feel-good fluff that we see in many of these types of lists. And it is grist for my vitriolic mill. You will be sadly disappointed.

Virtually unlimited access to cheap money blurs lines between what makes economic sense and what doesn’t. If it can be financed it will be built. Dubai’s plan to diversify away from petrochemicals made sense. Maybe it is even destined to become the Las Vegas of the Middle East, the Mecca of business travel and luxury. Dubai, however, is like NASA; both have proven that anything is possible when you ignore economic costs.

Nobel 'Peace' Prize winner Obama escalates war in Afghanistan in act of Orwellian tragedy.

Hey, CNBC is just as objective as the next news outlet, right???

In light of an especially noteworthy Full Moon, both gold bugs and those who are particularly 'in tune' with the waves of collective social mood (akin to social tuning forks) ought to remain extra cranky for an additional few days. 02:28:xx, Wednesday morning (12.2.09), marked a Full Moon; we at Fibozachi always reference time in EST, which is universal 'market time' while everything else is just ‘noise,’ though apparently there is something other than just dead 401(k) money scattered across mutual fund sub-accounts domiciled in Manhattan/ Boston (equities), Chicago (commodities) and Newport Beach (bonds).