Archive - Oct 2011 - Blog entry

In addition to the unknown factors impacting the European “solution”, next week the Federal Reserve will have their regular FOMC meeting and statement.

The job market is terrible, and the situation isn’t getting any better.  So where will the new jobs be coming from? 

Real estate is Cyprus' national sport sponsored by dumb money—foreigners. But now it's unraveling the finances not only of expat owners but also of the banks and the government.

Now, what are you going to do about it?

1/4 of us gets sick every year from the food we eat.

Is it "Trick or Cheat" time yet?

2012 looks like it is going to be an extremely painful year.

No one questions that “something” is brewing, or rather simmering beneath the surface in America. The discontent, having finally reached the heretofore silently and sublimely disaffected youth who are occupying Wall Street and any other street in any other town you might mention, is a phenomenon that has every journalist and blogger on the planet analyzing their heads off.  Is the OWS movement the left’s Tea Party? Will progressive politicians regret throwing in with the legions of urban campers? Do these people have a platform? Who is supporting  them?

Do you really think Europe, which is even MORE insolvent that the US, is somehow going to experience a different ending from the Bazooka move? They’re in far, FAR worse fiscal shape that the US was in 2008 (including unfunded liabilities, REAL Debt to GDP levels for most EU members is north of 400%... heck even Germany’s is over 200%).

Lauren Lyster, the enticing Russian TV/Capital Accounts host gave me the rare opportunity yesterday to sit down & run my mouth for 15 minutes straight. This format's most conducive to true conveyance of knowledge and information, at least in my not very humble opinion. I'm just not the 8 second soundbite type. Plus, I'm sure I pissed many long-only guys off...

All you need to read.

There are several things that you need to know about the eurozone crisis and Wednesday's Summit agreement:

1. It isn't over.
2. The European Monetary Union's (EMU) "architecture" is a failure.
3. They spent too much and can't possibly repay the debt.
4. Banks will need to be bailed out.
5. They will print money.

USDJPY continues to push the high 80s in terms of percentage of traders long. AUDUSD with 59.55% of retail traders short has pushed into the long bias zone.

Consumer confidence indices collapsed to levels not seen in years or even decades. Yet the toughest, most indefatigable creature out there struck again.