Archive - Oct 2011 - Blog entry

Will this (1) Change everything (2) Change nothing or (3) Something in between?

Because we are rarely able to break our broken connections, our Self, our culture and our nation are littered with dysfunctional nonworking relationships that destroy so much more than they should or could, but for our own deliberate inattention.

I don't know who else is going to be stupid enough to say that that Marine, employed Marine mind you, got what he deserved for peaceably standing up for his principles. 

SPX could end the year above 1300

Mortgage principal writedowns may sound like a political panacea, until we consider the effects not only on borrowers, but on banks, and taxpayers, as well...

The suit seeks a civil penalty against MERS of up to $10,000 for each willful violation of the Deceptive Trade Practices Act, as well as restitution to borrowers who were harmed by these violations.

So, the European joke has come full circle. Indebted nations borrow more money to bail out other indebted nations who ask insolvent banks to cut a 50% off deal on the loans that were given to them, but the insolvent banks will then have to raise capital which the will of course borrow from the over-indebted nations whom they just gave money to. Get it? Problem solved - BTMFD!!!

With OVER $46 trillion in assets outstanding, this means that European banks would need to raise $1.77 TRILLION in capital to bring their leverage levels down to 13 to 1.

Finally. With news commentary that involved talk of deadlocks and disagreement on some occasions yesterday. The leaders of the EU have reached an agreement whereby private bond holders of Greek debt will commit to a 50% haircut on those debts, important to note that this is only the case for private sector debt, not total Greek debt.

Retail positioning in USDJPY continues to make new peaks with every day that passes, an all time peak of 87.18% of retail traders being LONG the pair has been reached today.

Update: Veterans for Peace member Scott Olsen is in critical condition, with swelling to the brain

Tuition did it again: up 8.3%. For many students, the increases are even steeper. Student loans cover much of it, though loan balances already exceed $1 trillion. It's the system.

Pundits and politicians argue that widespread mortgage principal reductions for underwater borrowers will not only help "main street" but the economy as a whole.  In reality, such actions are far from a panacea...

Even if Europe fixes their mess and China does whatever it is China does to paint their numbers for another few years, it will only serve to swing the spotlight back on this dinosaur of a Nation that is little more than a shell of its former self.

The World Wide Financial Farce...