Archive - Oct 2011 - Blog entry

The protest that started nearly a month ago in the Battery now has a name – Occupy Wall Street — and we’re sorry we didn’t think of it first, since the catchy title – “Occupy (fill-in-the-location)” — seems destined to go viral worldwide. We’re not sure whether the demonstrators’ demands will eventually skew right or left politically, or perhaps in neither direction, but Mr. Obama and Rep. Pelosi have not wasted any time getting the jump on the Tea Party and GOP frontrunner-by-default Mitt Romney by presenting the demonstrators with verbal fruit baskets and bouquets – everything but the key to the city, which as of this writing was still in the safekeeping of Mayor Bloomberg.

Michael Lewis’ latest piece in Vanity Fair, “California and Bust,” begins with a lengthy defense of Meredith Whitney’s prediction that there would be a wave of defaults in the municipal bond market. I was not planning on writing a response to his article – frankly, defending Whitney’s call at this point is very much like defending Harold Camping’s prophesy on May 22^nd, after even the most gullible people have realized that they euthanized their pets for nothing. Who really cares about the intransigent believers that remain, for whom a forceful narrative has always been more relevant than facts?

Important Charts and levels to watch, as shorts feel the pain.

Some thoughts and Pics from OWS

All you need to read.

Do I have a lot of confidence in this outlook? Uh… no. 

Dire numbers prove that running up deficits and printing trillions can't create a healthy economy. Yet, inexplicably, it's what the status-quo media continue to propagate.

Conservatives and liberals are both right ... Just looking at different sides of the same coin.

In the last 12 months, the numbers of distinct users on Hulu.com (in the United States) have outpaced the metered Nielson ratings of all FOUR television networks combined.

Bankers have made and sold trillions of dollars worth of loans that they knew, or should have known, could not be repaid. That’s fraud. It must be prosecuted.

When a pure momentum stock lost its mementum.....

Don't say fraud, Don't say steal; It was destiny, it was God's will...

The Obama administration is going to give the OWS protest a big boost.

The system doesn’t work, and they don’t want to reduce this to a set of technocratic little fix its and paste-its.