Archive - Jun 2012 - Blog entry

Some interesting food for thought.

"The art of life is the art of avoiding pain." ~ We'll see how this goes.

In 2/08 I called Morgan Stanley "The Riskiest Bank on the Street!". It promptly collapsed! I believe I was the only one to publicly make such a bearish proclamation. Well, here we go again...

"Private Debt Doesn't Matter" Because "Banks Can't Create Money Out of Thin Air"

LCH under investigation by Holder under antitrust statutes. And just who was the ultimate counterparty to the Corzine trade?

Just read.

The market finds itself at another one of those junctures that have been prevalent over the past 3 years.

While everyone else is focusing on the Greek elections, the REAL issues pertaining to the EU (namely where the funding for Spain’s bailout as well as future bailouts will come from) continues to be ignored. Indeed, no one seems to be asking THE key question regarding the EU: Just WHERE is the money for this bailout going to come from?

Happy Father's Day!

Four months before the election. And yet, a horrendous migration across the Pacific

We don't need another Zero...

A democracy of the fortunate is not a democracy at all.

Greece is on its way to becoming a "new, critical fragile state," and the ECB and EU will have to keep it on life support for years after it exits the common currency.

Indeed, one has to wonder… just how does a €100 billion bailout solve Spain’s banking woes when its Prime Minister was suggesting the real damage is more to the tune of €500 billion in a text message to his Finance Minister??? Indeed, if Rajoy’s text is even remotely truthful, then we can assume that Spain’s real capitalization needs are multiples of the €100 billion bailout… something that the EU media is picking up on already. As one example, JP Morgan believes that when all is said and done Spanish banks could be looking at €350 BILLION in capital needs.

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