Archive - Feb 2011 - Blog entry

The GDP numbers are coming in much weaker than expected and Q4 2010 is but another example. The case for stagflation is strong, even without oil prices going through the roof. Mainstream economists have no idea what's coming.

Time to short OJ?

Even though the U.S. petro product prices are busy chasing Brent, it does not change the fact that there’s a product glut in the U.S. with a flat demand outlook. So, unless there’s a whole lot of surprise hidden new demand to support current price levels, prices will have to come down.

The confrontations in Wisconsin and other states are the opening salvo of a political blame game -- who is responsible for the gigantic public pension fund deficits that threaten states' solvency and workers' retirement savings?

Only 11% approve of Congress, while 15-20% liked King George...

All over the world, in countries as far apart and diverse as Egypt and Vietnam, Ireland and Libya, Bahrain and the United States, people are standing up and saying “No more concessions, no more cutbacks, no more bailouts, no more austerity, no more!”

I have often contended that there are two ways to interpret sentiment data.

A film is never really good unless the camera is an eye in the head of a [Samurai] poet--Orson Welles...

Lets hear it for Inside Job!!!!!!!!!!!!

Once again investors came out in full force to buy the fucking dip on Friday after learning that...

$50 billion lost a year. Wonder why we're broke?

When the stuff hits the fan this time around, the Fed will be powerless to do anything. Bernanke’s already shot every bullet he’s got. So when he loses control this time around, not only will the market crater, but the belief that has kept the financial system afloat through every Crisis of the last 30 years (namely that the Fed can always save the day) will shatter.

A new report from the Little Hoover Commission says that many state and local government employees have been promised pensions that the public couldn't have afforded even had there been no housing and financial crash. The report doesn't mince words: "pension costs will crush government".

With must-see Dan Rather news clip ...

Fairly quiet day, next week to round out February's issuance, early in the week we have a couple of bill auctions.

How does D.C. address the infinitesimally small nano-level of change included in FinReg? Defund it, of course ...