Goldman On What The Neverending [Private|Public|Global|Galactic] Bailout Means For Market Indicators

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Wed, 05/12/2010 - 07:43 | 345729 qp
qp's picture

This morning DAX up 112 points

don't fight the Squid

Wed, 05/12/2010 - 08:18 | 345778 Hephasteus
Hephasteus's picture

$1260 close price on gold today is plenty of squid fight for me.

Wed, 05/12/2010 - 07:45 | 345732 primefool
primefool's picture

We are at about that stage of the game where John Law had to parade wagons loaded with straw - with the top surface covered with gold coins - down the Champs Elysees- to convince the peasants the treasury had plenty of gold. That trick was good until the weekend - I believe. Of course the peasants today are much much stupider than in those days so who knows may last for a few weeks.

Wed, 05/12/2010 - 09:08 | 345866 Cursive
Cursive's picture

@primefool

Thanks for this reminder.  We sometimes lose sight of the obvious trainwreck that is a comin'.

Wed, 05/12/2010 - 09:39 | 345924 Tortfeasor
Tortfeasor's picture

How do you parade digitized gold?  

It'll take a couple thousand Dell laptops, I'm guessing.  BULLISH!

Wed, 05/12/2010 - 11:07 | 346180 hbjork1
hbjork1's picture

First reference I have seen to the history of John Law in France.  It has interesting parallels to the modern situation.  French government made vulnerable by a series of wars; gold supply low.  Redistribution of wealth generating mechanisms, creation of credit instruments, sales of land in what became the Louisana purchase with (in some cases) bogus claims about what Mississippi and Arkansas were really like. 

Some of his ideas are considered to have been beneficial but, as I recall, he fled for his life in disguise. 

The technology and education levels have changed; human behavior has not.

 

Wed, 05/12/2010 - 08:00 | 345746 overmedicatedun...
overmedicatedundersexed's picture

what ya gonna do when the volcano blows??

the banana peel economies are so close to the edge and the pols keep sleep walking eyes wide shut..

anyone wanna bet the pols and CB's have the magic bullet?

no? I didn't think so.

short the world. tza, sds, like gold / silver have been suppressed far too long.

 talking my book.;)

Wed, 05/12/2010 - 08:06 | 345760 Brett in Manhattan
Brett in Manhattan's picture

If only I could be this clairvoyant about the next day's stock prices.

______________

 

by Brett in Manhattan
on Mon, 05/10/2010 - 10:09
#341120

Goldman gets too much of the credit/blame. It's a High Priest/Rabbi of the financial establishment, but not the whole thing. I'm sure most of the other big broker/dealers showed similar results.

Poker is an easy game when you can see the other guy's hole cards.

http://www.nytimes.com/2010/05/12/business/12bank.html?ref=business

4 Big Banks Score Perfect 61-Day Run
By ERIC DASH
Published: May 11, 2010

It is the Wall Street equivalent of a perfect game of baseball — 27 up, 27 down, the final score measured in millions of dollars a day.

Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year.

Wed, 05/12/2010 - 08:27 | 345792 No Hedge
No Hedge's picture

of course they (central bank) are buying greek debt and not italian...because it is much cheaper...you wouldn't?

Wed, 05/12/2010 - 08:30 | 345799 anynonmous
anynonmous's picture

more on Goldman

The Private and Public Side of Goldman’s New Digs

More singular still, state and local governments decided to give the firm another big subsidy by letting it use $1.65 billion in tax-exempt Liberty Bonds, intended to stimulate economic development after 9/11, to cover part of the building’s $2.1-billion cost.

 

 

http://dealbook.blogs.nytimes.com/2010/05/12/the-private-and-public-side...

Wed, 05/12/2010 - 09:19 | 345889 Duuude
Duuude's picture

That's it.

We are officially down in tha Rabbithole.

Hey, let's run a fundraiser here for tha rest.

Wed, 05/12/2010 - 08:39 | 345813 Tart
Tart's picture

the ultimate bottom line is banks will play the upside until the Volker rule goes into effect......I foresee a test of the highs no matter the news......but I'm not going long as per the 1000k drop per day Thursday

Wed, 05/12/2010 - 08:40 | 345815 mephisto
mephisto's picture

Hum. Goldman says buy DAX because Germany exports to Asia.

China -1%, Dax +2%. Dax is now up in May, outperforming pretty much everybody else.

I cant help thinking Goldman just offloaded any long Germany positions to its clients.

Wed, 05/12/2010 - 08:46 | 345830 Brett in Manhattan
Brett in Manhattan's picture

I guess Goldman figures not everyone saw the Senate hearing in which Blankfein said it's perfectly acceptable to have his salespeople hawk a product that Goldman created, while his traders are shorting it.

Wed, 05/12/2010 - 08:42 | 345818 john_connor
john_connor's picture

The focus now turns to budgetary plans by individual countries, and the new rules on fiscal coordination.

Good luck with this

Wed, 05/12/2010 - 10:06 | 345980 bugs_
bugs_'s picture

Could Goldman be right this time?

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