Archive - Jan 2011 - Blog entry

The "tape" never lies. Ben can't ignore what he is doing.

D'oh!

The new "global economy" is designed to funnel more and more of the wealth of the world into the hands of the wealthiest 0.001% of the global population. Everyone else is left to fight with one another to divide up a pie that is increasingly shrinking.

Remember, regardless of short-covering bounces, the Euro HAS violated the trendline that support it from July onwards. This technical damage of that move was severe and makes the odds of additional downside significantly higher.

From a technical perspective, expect the stock to get clobbered by at least 8% in the first trading day after Jobs medical leave announcement, and could test $300 or below in the next few days. Looking ahead, there’s a good probability that Jobs may not come back...

The road to ruin ahead of us is clearly laid out. US debt is about to exceed 100% of GDP for the first time since WWII. By 2020, the Treasury will have to pay a staggering $5 trillion a year just to roll over maturing debt. The capital markets will emerge as the sole source of any fiscal discipline, with the return of the “bond vigilantes.” Will China and Japan demand a retreat from our $150 billion a year commitments in Iraq and Afghanistan to protect their bond holdings? (TBT), (TMV).

Goldman pulls the Facebook IPO, I mean private offering from US investors. They don't know how luck they are! Now, how do we educate the foreign gamblers?

Bloomberg News: Goldman Squid...No Comment, FaceBook...No Comment, SEC...No Comment

Retail traders are notoriously wrong at picking market direction/tops and bottoms. Most retail traders very naturally seem to adopt a counter-trend stance and this offers very accurate signals for individuals looking to trade against this group. This daily report is designed to help traders focus their efforts on higher probability pairs.

Who is to blame for the pension meltdown?

The Celtic Tiger has been on the economic ropes since the crash of 2008. In the first hours of the crisis, the US Federal Reserve provided emergency funding to Irish banks, pouring 10’s of Billions of US dollars into the Irish Banking system, providing funds as needed.

The Pentagon says King might have supported the current wars. This is not entirely true ...

Today we learn that Squidco is pulling the FaceShnook "private placement" from US Investors and instead will direct the offering to it's "off-shore" or foreign clients.

Unfortunately, this is not a moment to be savoring delicious fried squid. This is a time to reflect on what this latest two week Squidco sponsored fiasco truly signifies. I submit that it signifies in bright Chinese neon, that the capital formation process in the United States is truly broken.

I was reading his "I Have a Dream" speech and it really is amazing when you think of the great social change in this nation that was set in motion by one man with a vision.

There were many skeptics when I said that housing values would go so low that banks wouldn't even find it cost effective to foreclose. Many relatively bright people dismissed my statements as sensationalist or unrealistic. Well, I suggest some explain that to those folks in Chicago where banks are probably walking away from thousands of homes.