Archive - Dec 2010 - Blog entry

I bet that either you, or someone that you may know, weren't privvy to the TARP 2.0 tax payer funded bailout right under your noses, and the government released the evidence buried in one of over a dozen spreadsheets featuring over 70,000 transactions, with the incriminating one featuring over 340,000 cells and over 10,000 transactions. We at BoomBustBlog suppose they thought no one would be good enough at Excel to ferret it out, or maybe they believed we were all just numb over hearing a trillion here, a trillion there. You know, after a while it starts to add up to real money.

Now consider that the real price of oil, when measured as global output vs. global demand on a historic basis should be closer to $60 a barrel than $90 and you have a TRILLION DOLLAR annual scam going on and our joke of a government does NOTHING to prevent it. Oh wait, I'm sorry, they do something...

Some odds and ends from a CBO report on our debt.

Possibly the most insane development in a year of nothing but insane developments from a financial standpoint was the idea that somehow the Euro was saved as a currency because the IMF leant even more money to various European countries that were already over-indebted.

Consider that these countries already owed too much money… so the IMF (indirectly the US) leant them even more.

Spain takes one step closer to a bailout, then eventual restructuring (aka, default), thus far exactly as forecast by BoomBustBlog. For those not keeping track, it is currently the financing premium leader among the non-bailed out PIIGS group.

On December 7, 2009, I sent out a warning from our Managing Director, JS Kim, to thousands of people via email about the deterioration of the global economy that he had discussed for years that the great majority of people were ignoring. Here is my latest interview with Mr. Kim that updates his views on his central thesis about a burgeoning economic disaster in the US.

O Lord, be merciful to me, a Keynesian fool...

Retail traders are notoriously wrong at picking market direction/tops and bottoms. Most retail traders very naturally seem to adopt a counter-trend stance and this offers very accurate signals for individuals looking to trade against this group. This daily report is designed to help traders focus their efforts on higher probability pairs.

The market continued to move sideways today as economic data was less relevant than Bernie Madoff's thoughts on the CAPM and fund managers...

According to Jack Mintz, Canada's pension system is fine. "No surgery is needed". If only that was the case...

Mervyn King confirmed in 2008 what many people have been saying for years ...

Happy Holidays Everyone???

Watch out for a fast market into year-end.

It's not the uninsured who have the biggest problems ...