Archive - Mar 24, 2010 - Blog entry

A home run begging to get smashed out of the park. Support is falling away like a dress off a prom date. Puts are still ridiculously cheap. The global carry trade is back on. The Japanese government absolutely hates the yen at this level. Exporters are getting killed. Moving Mount Fuji to get what it wants. The world’s credit sharks are looking for a new victim. Final target: ¥150. (YCS)

Finance Minister Jim Flaherty announced plans for a series of town-hall meetings and expert consultations aimed at reforming Canada's pension plan. I was invited to speak at the upcoming Standing Senate Committee on Banking, Trade and Commerce and welcome your thoughts on this important matter.

If this article goes viral around the web, I wouldn't be surprised if the euro tanks and several European sovereign states' spreads blow out. I have busted several of them in another of a long series of "creative" economic forecasting schemes to fudge the appearance of "austerity".

Either JPMorgan Chase is honorably managed or incredibly stupid. A review of the top 4 banks use of Nonaccrual on their GNMA loans reveals JPM standing apart in their "strategic" use of Nonaccrual.

" We have taken testimony from dozens of witnesses and reviewed tens of thousands of documents .... We have looked at the silver market like we never have before and I think there is a window of success that has been opened for understanding about what has been going on and why .... In 35 years, there has been only one successful prosecution for manipulation. So if you ask me if the manipulation standard in the law is working, I'd have to say no .... We need to be more like the police department and less like the fire department. We need to deter and prevent things from happening, rather than merely responding. "

I have a strong feeling that if you dig deep enough into the BofA innards, you will find some stinky stuff. Hey, it's just a feelin'.

The credit rating agencies have given both China and the U.S. credit warnings. How can the U.S. prevent a downgrading? Hint: it won't be from a reduction in spending.