Archive - Jul 2012 - Blog entry

From Jesus Christ...

What is the value of a REIT that has nearly ALL of its portfolio properties underwater? It damn sure isn't what its trading at now!

Same story again: Recurrent picture of Hard Core grinding slightly tighter, Soft Core doubling down on that . Italy eventually better today but still over the 6% mark and Spain stuck over 6.75%. Equities just a tick weaker after all. Gold non-QE victim. EUR slammed through 22, but rebounded off 1.219.

Eventually quite resilient markets, given all the expectations…

Gold inched up on Tuesday ahead of Federal Reserve Chairman Ben Bernanke's Congressional testimony today and Wednesday which should provide the market with information as to whether the US central bank will flood the market with more US paper.

Meet the Old Scary Clown, same as the same Old Scary Clown.

Folks, the political game has changed in the US. The Fed is no longer invulnerable. In this climate more QE cannot possibly happen. End of story. Indeed, if the Fed were to launch QE at any time between now and the election, Obama is DONE. The last possibly chance for QE without it being a clear hand-out to Obama (and a gift from the political gods to Romney) was June. The Fed passed on that.

Do the good citizens of the Wall Street establishment broadly defined understand the risks taken by the House of Morgan?

Literally ...

“Converting a state bailout into a speculator bailout” and other acidic confrontations in the escalating disaster of disagreements in Germany

Alleged Leaders, Bosses and Associates.

Citizens are advised to remain vigilant and report any suspicous financial activity to the local orfices of Federal XXX Regulatory Video Monitors... 

Maybe I'd have more followers if I tore a page out of the BI playbook, but I think I'd rather try to keep following ZH's lead and just try to write well, succinctly, and - if possible - with a bit of novelty.

In 10 Years, Peak Cesium Levels Off West Coast Could Be 10 Times Higher Than at Coast of Japan

PEI is at risk of "JingleMailing" properties. Even if foreclosure doesn't occur, here's more evidence of imminent distress as Value Line says buy, I say #crash & management takes down more than shareholders in compensation!

Here we are one year and over 10 Fed FOMC meetings later and the Fed hasn’t launched any new QE programs. Think about that. For over a year now the financial media has been awash with “experts” saying “QE is just around the corner, the Fed will launch QE any minute now, etc” Every time stocks rally. But. No. QE.

The sharp losses in the gold mining sector Friday and last week could presage further weakness today but the higher weekly closes for gold and silver were constructive from a technical perspective.

After initial gains in Asia, gold fell early in Asian trading prior to recovering and then weakening again bang on 0800 GMT as Europe opened (see chart below).

Gold is higher in euro and Swiss franc terms but slightly lower in dollars and pounds.