Archive - Jul 2012 - Blog entry

Europe slipping into (light) ROff (and then out). Recurrent picture of Hard Core grinding tighter, Soft Core doubling down on that . Peripherals drifting wider with Italy eventually further off the 6% mark and Spain at 6.77%. Equities about unchanged after all.

BKO eventually closing on a historic -0.060% low.

Slow dragging day, if it wasn’t for the EUR jogging back and forth all the time. Something gotta move, I guess.

Also: how the Fed's Biege Book is assembled, the $trillion+ sitting at the Fed as excess reserves, the LIBOR "scandal", Warren Buffet and much more...

So when you see Citi’s Q2 2012 earnings, remember that about ¼ of the number will come from non-interest bearing deposits covered by FDIC's TAG program.

The health of the economy is driven by after tax income. We need a big tax increase that does not reduce current income. My plan.

Life ain’t fair

This scam wasn't made for you and me...

Scandal After Scandal, Lie Upon Lie ... What's Going On?

Greece's Eurozone exit is almost done.

The decrease in nationwide inventory is an ongoing trend. 

Nice equity (and commodities) close (DAX futures peaking at +2%).

Didn’t seem to impress EGBs, though. Nor credit, as it stands. No ROn mode behaviour here. And certainly not for Italy.

Here's how...

To those that ask if PEI's preferred offering changes my outlook as the short of the year, let's pick up a pen and paper and do some math...

My Libor story

"Should Goldman Sachs go out of business" [Reuters] and who will save the JP Whale?

Many Other Core Economic Figures Manipulated As Well