Archive - Sep 30, 2009 - Blog entry

Let me just say that the IMF's Global Financial Stability Report is an excellent document that every serious money manager needs to read carefully. It provides an outstanding overview of global financial system. I went through it today and concluded that global financial risks have subsided but banks are by no means out of the woods. The semiannual report struck me as one of cautious optimism.

An article by The Hill dated 9/20/09 quoted President Obama as saying"...I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding..."
Since President Obama confirmed that bloggers do run the world, I’d like to dedicate this blog to respond to his comments.

I was on CNBC a few days ago discussing the Japan debt situation, here are my talking points and some additional thoughts a lot of them I did not have a chance to cover in the previous note or the interview.

Traders are positioned for a reversal of the down trend in the Dollar Index. Watch out below if it doesn't materialize.

The national sales tax is no longer idle talk. I guarantee that it is coming soon because Obama is running out of money and they're panicking about paying for the deficit. They just can't tax the rich enough to pay for it. Tomorrow starts the official vetting of the tax.