Archive - 2011 - Blog entry

I'm calling the ratings agencies on this...

Atlas was permitted the opinion that he was at liberty, if he wished, to drop the Earth and creep away; but his opinion was all he was permitted.--Franz Kafka

Some thoughts on FX interventions and the job the ECB has in front of it.

USA, USA, USA ... Number One in ... cough ... Fascism ... cough

“Japan’s economy is likely to continue to face a severe situation,” said the Governor of the BoJ. He blamed the euro crisis and the strong yen. Bland language, ugly meaning.

Las Vegas police say it could be weeks before investigators know how 43-year-old Tracy Lawrence died.

Keep thy smooth words and juggling homilies for those who know thee not.--Lord Byron

You cannot build a financial system on lies. It simply doesn’t work. All it does is breed distrust and resentment. And as any businessperson can tell you, without trust business cannot work.

Way off topic today......

Ewald Nowotny, member of the ECB’s Governing Council and Governor of the Austrian National Bank is up to his neck in hot water.

With the European End Game now in sight, the primary question that needs to be addressed is whether Europe will opt for a period of massive deflation, massive inflation, or deflation followed by inflation.

Dick Comes Clean A Week After I Did Him Dirty...

The reason I am so pessimistic is because the bond markets, credit markets and interbank liquidity indicate that the situation in Europe is now into “2008 mode”. Indeed, Treasuries have already exceeded their 2008/2009 peak. Tell me, what do you make of a situation in which the bond markets (which are far larger than stocks) are acting as though we’re in a Crisis worse than 2008… which stocks are rallying?

Catch the wave ...