Archive - Jul 2011 - Blog entry

Say hello to my little friend--Scarface

On May 20, Edwards said she and Clarkson were summoned together to a meeting at 3:30 p.m. and told by Robert Julian, then the South Florida bureau chief for the Economic Crimes Section of the attorney general’s office, that they had the opportunity to resign or would be let go immediately.

Italy has now become the new victim as worries of a debt crisis contagion, as it is euro zone's third largest economy and the next weak link in the region. Italy's predicament could also be partly attributed to the political power struggle. If the Italian sings a good political opera, the United States gets an Emmy for its political soap.

Important News by www.thetrader.se

Why would anyone think that a monetary system whereby poor states spend and get bailed out by rich (i.e., successful) states would ever work? The euro is a failed concept and will tear Europe's monetary system apart.

Emergency...

Ultimately, all of these efforts will fail (see the Euro situation today). But this will only happen after the Fed has done any and every action it can to prop things up. This will include QE 3 and as many QE’s as the US Dollar will allow. So, QE 3 is coming. We might even see QE 4 before the system collapses. But the system WILL collapse. And when it does, it will be a 2008 type Crisis on steroids.

Anything that can empower or free us is removed, restricted or demonized, thus severely limiting our innate and natural ability to heal, grow and flourish. At best we are told we should restrict ourselves to applying band aids and hydrogen peroxide. Anything more than this should be left to the professional mind magicians and the grand keepers of the public myths.

History rhymes...

My take on what may happen to confidence.

Banks versus nations and people...

Thanks, Turbo Tim ...

But things are G-R-E-A-T for the top .1%!

In simple terms, what I’m trying to say is that we are about to witness another “2008” only on a sovereign scale. The EU will be first, but China, Japan, and even the US will be defaulting in the future. The implications these actions have for asset classes will be HUGE as all assets move relative to sovereign bonds which used to be considered the primary low risk asset class in the world.

Economou said there isn’t enough investor interest in the assets for sale as “credit default swaps and spreads are the kinds of thing they have their eyes on.” Concrete assets are “riskier,” he said. Methinks Mr. Economou (what irony is there in a name???) may be missing the forest for the trees!