Archive - Jun 2010 - Blog entry

Board members of California's largest public pension fund said Tuesday they are likely to take more money from the state general fund to pay employee pension benefits, a proposal that has led to criticism at a time when the state faces a $19 billion deficit.

We don't need to even discuss conspiracy theories about what happened on 9/11 to be incredibly disturbed about what happened after: the government's obstructions of justice.

Indeed, the 9/11 Commissioners THEMSELVES are disturbed ...

Few papers worthy of your attention.

The currency is in free fall, and the continent is about to enter a new dark age, as enforced deleveraging brings economic collapse and widespread civil unrest. To me, this all means it’s time to start sifting through the wreckage, looking for potential buys in Europe. Suddenly, Poland is more than just a joke.

This week's "The Good, The Bad & The Ugly" from BankRegData.com reviews Fifth Third Bancorp. The Good is that Nonperforming Loans are coming down, The Ugly is their reliance on Loan Sales to prop up Net Operating Income.

The bankruptcies and debt collapses are coming as a result of overcrowding in the sovereign and public debt markets. This series aims to prepare you for the coming collapse... The Doo Doo 32 revisited!

Whoah! Mercer's little Alaska problem is going to end up costing them $500 million!

“The damage and suffering caused by inflation during the course of history are enormous. Still, the worst excesses of inflation occurred only in the 20th century. This development was a consequence of the further technical development of money from coins to paper money and book money together with changes in the monetary regime or constitution ruling supply and control of money.” - Peter Bernholz, “Monetary Regimes and Inflation”

Title says it all

The global equity markets are in meltup mode again. I want to take this opportunity to reiterate that I am still quite bearish on much of the situation in Europe. Let’s glance at the credit markets, major banks and the state of sovereign indebtedness in Spain.

The technical analyst to the stars says tt is safe to buy the S&P 500 (SPY) this week for a summer rally because the big crash isn’t coming until the fall. You should use the current bout of weakness in the Australian dollar (FXA) to load the boat. Oh, and while you’re at it, short gold (GLD). The next swoosh down will be more violent and longer than anything we have seen so far. Emerging markets (EEM) to remain cool. A major long term bull market in corn, wheat, and soybeans launches after the summer.

Canada is moving in the right direction on pensions. Expanding the Canada Pension Plan is definitely a step in the right direction.

The crisis in Europe is causing concerns about deflation in the U.S. and other developed economies. However, looking further up the supply chain, an entirely different picture emerges.

Bye bye BP?