Archive - Jun 2012 - Blog entry

News & headlines from the day

The secret revealed...

An uplifting story of austerity and growth at the edge of Eurozone mayhem.

The PIIGS will pop! I directly & explicitly compared the plights of Greece vs Spain 2 1/2 yrs ago before anyone even publicly admitted Greece would have to default, not to mention Spain!!!

While the WSJ article on the Fed paints a picture of controversy enshrining the usual hawk Vs dove sort of frame work ( or is that Hatfields Vs McCoys? Montague Vs Capulet)… what strikes me is the sense of agreement I get in reading this thing. Everyone at the Fed is on the very same page. John Hilsenrath is correct in concluding that there is a policy dilemma, but he does not connect the dots and say that it is a dilemma without much consequence. Yet it is quite clear that even those who would like the Fed to do more, are very disappointed with the results from what they already have done. If you ordered dessert and it was bad would you order more? The Fed would.

Market Turbulence As Global Economies Falter: The European debt-crisis, the derailing of Chinese economic growth and an underemployed United States all point toward a “global crunch”. 

I believe this is Germany’s final push for EU control. If this fails and Germany ceases to offer additional bailout funds in some form then the EU will collapse (as noted earlier, the ECB, IMF, and US Fed cannot prop the EU up nor will the ESM mega bailout fund work). Spain’s literally on the verge of seeing a bank holiday. Germany is the only one who might have the funds to prop it up. And Germany wants gold.

Headlines & stories from the day

And I thought the Florida Bar said foreclosure lawyers must report fraud to court...

For those of you who have an opportunity to view the Transit of Venus today, don't miss it. The next transit will occur in the year 2117. This is what it looks like.

Gute Nacht, Europa...

Everyone's worried about EU soveriegn debt. Once all of that rapidly depreciated real estate collapses mortgages that have been leveraged 30x, you'll really see the meaning of AUSTERITY! I'm trying to make it very clear to you people, you ain't seen nothing yet!!!

It ain't about Greece any longer.

Thus we have the world’s three most important Central banks as well as the global economy’s “economic miracle” retreating from aggressive monetary intervention.

All you need to read and some more.