Archive - May 11, 2010 - Blog entry

Starting as of this evening everyday I will provide futures charts for the night owls. Since many of you do not have access to a Bloomberg terminal or a retail trading platform I have found the idea of providing futures charts valuable. I will post only the most significant indexes, currencies and commodities without going into individual stocks and ETFs. The point of this is, beside the aforementioned one, to paint a clear picture before the next trading day opens. So I hope you find this valuable. All futures can be seen by clicking on the link provided below the charts.

Those of you who have been following this blog from its humble beginnings know that I have been consistently bullish on the long-term prospects of gold, and consistently bearish on the long-term prospects for the American economy. With gold sitting at $1,232 dollars and sovereign debt concerns entering the system, my thesis is unfolding before our very eyes. This is very unfortunate. I would much rather be wrong and lose money investing than be right when it entails hard times for Americans.

"Surely, however, one of the most important financial decisions in EU history, which will now lead inexorably to the creation of a federal budget running into trillions of euros, should not have been taken in one Sunday night sitting, on a proposal that had not even been mooted until the previous Friday, and at a time when Britain did not have a functioning government and the German finance minister was suddenly in hospital." - Anatole Kaletsky

Hilarious

Buckle up ...

The direct, unbiased, Wall Street Puffery filtered, skinny on Wells Fargo's latest results.

I told you it probably wouldn't work. Now, you really have speculators lining up to put on the short trade of the a lifetime. Methinks those lines may start to get pretty long as well as I spy the Asian markets as well as the US and European futures drop like rocks in desalinated pond water. Asking 2 trillion euro, can I get a bid for 2 trillion euro, going... going... gone!

Central Bankers always seem to do the wrong things at the wrong times in manners that hurt the citizens of their country in the maximum amount possible. So I suggest that the next person US President Obama appoints to the Board of Governors of the US Federal Reserve should be a US Navy SEAL.

Did they really have a choice? Hell no!

Isn't $145 billion to save these relics enough? Why don't we ask instead: What good do they do? and, What was their role in causing the crisis? Get rid of Fannie and Freddie.