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Weekend Reading And Open Forum
- Is Jeff Macke the next Lenny Dykstra? (W.C. Varones Blog)
- From the CEO of NYSE: One year later (WSJ), and fully propaganda free
- Kraft set to launch hostile Cadbury bid (Reuters)
- No reform, just a cosmetic patch for a discredited, flawed regime (Telegraph, h/t A.P.)
- John Hussman: Strenuously overbought (Hussman Funds)
- Japan Tankan may show firms to cut spending even amid recovery (Bloomberg)
- China's most famous economist keeps talking (NYT)
- MERS: A system designed to create the mortgage back security bubble (Dr Housing Bubble)
- China starts probe of alleged US chicken subsidies (Bloomberg)
- AIG: 5 outlandish story lines (TheStreet)
- Evans-Pritchard: Money figures show there is trouble ahead (Telegraph)
- New York Governor Patterson says he'll run in 2010 (Bloomberg)
- Enter the recession's waiting room (NYT)
- Wells Fargo: Ready to blow? (CFO)
- Clock is ticking for first time home buyers (WaPo)
- Distressed debt conference notes, aka Groupthink vX.YZ (Distressed Debt Investing, h/t Credit Trader)
- Fed's strategy reduces US bailout to [only] $11.6 trillion (Bloomberg)
Have we missed anything? Open forum time.
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The unwavering seven-month ramp in Barclay's IG Bond fund (LQD) has had me curious over the last few weeks:
Is this fundamentally correlated with the "V-shaped recovery", or has iShares hired Madoff under the table?
I would be interested to hear your comments...
http://bigcharts.marketwatch.com/charts/big.chart?symb=LQD&ma=1&maval=50...
There has been another Italian bond seizure, this time $100 billion
http://www.bloomberg.com/apps/news?pid=20601092&sid=afX0BWHToC1g
“There must be a well-organized group behind these alleged crimes,” Fabio Polimeni, a Milan lawyer specializing in counterfeiting cases, said.
The fed, the central banks, the bilderberg group. That's a well organized criminal system.
You left out the colonel. Colonel Sanders is *the* pivotal figure within the Pentaverate.
His damn addictive chemicals in his chicken!!!!
The Colonel's grandest creation. Atlanta's own, BIG Chicken: http://roadsidegeorgia.com/site/bigchicken.html
HAHAHAHA, YOU FORGOT WB...LOL
first thoght is false flag operation to discredit the intial siezure. Cast claoud of suspicion around the first one and make it look like a bunch of ametures. But ameteurs don't repeat the same mistake and ametuers don't deal in $100 of billions - there was a stroy last week of so that secret service is looking into the original siezure. This is convenient
Analogous to pissing on your pants and proceeding to sink to splash some water so it looks like you leaned up against the vanity..
My favorite part: "The two men later disappeared and the case is still under investigation". Guess they just said bye
Social Security strained by early retirements
http://apnews.myway.com/article/20090927/D9AVHRDG0.html
Here are some pending issues....
1) G20 and commodity speculation regulations ?
Why is this no longer in the public headlines ?
2) To date....which are the better arguments for the
most likely direction....inflation or deflation ?
Is the US now....because of Obama "spend" policies
no longer in control of its finances ?
Julian Robertson mentions that 15 to 20% interest rates
are likely if China/Japan are no longer positioned
to finance US debt....
3) Why is the Goldman Sachs business model not dead
already ?
Electronic trading costs are already 20 cents per 100
units...and this is before all securities are mandated
for price discovery on a public electronic direct
access exchange....
Secondly top Chinese bankers make $230,000 per year
not the $60 million Blankfein makes....
4) So when is the Obama administration going
to announce the new US VAT tax....?
Too bad the govt. does not think about shrinking itself ....
Why shouldn't it ....?
If the US were to have a 15% Consumption tax only....
would this not solve the BRIC competition issues....
Thus allowing the US to rebuild its manufacturing base ?
Are the addition Obama programs simply going to add to
production costs and cost families more money that they
currently do not have ? Thus implying even more job
losses because of the further hindrance to competitive
cost structures ?
A link to a story on TheStreet dot com!? It's even sandwiched in between stories from Bloomberg and The Economist. Are you fcuking kidding me? Just my opinion, but I think that web site and Cramer are total bullshit.
+1
"My discomfort about strenuously overbought and moderately overvalued conditions overlaps with skepticism about the U.S. economic “recovery,” which appears to be nothing but an artifact of government spending, while intrinsic economic activity remains weak."
Hussman and Rosie have been scratching their heads for a while on the equity market action, but I can't think of two people who I would trust more to manage my money...
I don't know. That Andy Durfresne guy's pretty sharp too.
Yes, Andy is a stand-up kind of guy... and he seems to research everything in great deal... but I am afraid I would get my monthly statement and find that my entire portfolio would be invested in Petra Nemkova and her latest venture :-)
Just kidding Andy, but I couldn't resist...
Touche :-)
Andy,
I was waiting to see you commenting.
With the London PM fix on Friday I had to agree with your call on gold.
Gold did not break out this time.
Very nice indeed. But I prefer this over here:
http://thefashionisto.com/blog/2009/06/dg-spring-2010/
http://ericsgraciousplenty.blogspot.com/?zx=113bab58643bc02e
more eye candy!
Everybody on the planet is wounded. Some aspects of personality can set off the various wounds. I tend to set off people's pain of intellect but I get around it just by being so magnanimous with my sharing. I don't keep things secret and just for myself so people trust my communications. Since some of the concepts and information I pass around tend to disrupt other peoples cherished beliefs I have chiron in pisces in 3rd house which means everyone is out to destroy my cherished beliefs through intellect because I'm doing the same thing though it's not really any sort of plot or plan. I just understand and it has social rammifications.
Unfortunately since so much of our group energy is sociopathic even though it's only 4 percent of the population of the world. The people who control things are better at hurting the normal sympathetic people than we are hurting them.
http://www.astrology.com/allaboutyou/healingsign/gemini.html
Dude.....you shouldn't be soooo down on yourself.....
I'm just feeling cocky because I had another dream wich was full of controlling energy that I resisted. I still remember the look on the ladies face in the restaraunt. She was like WTF he's resisting it ALL. It was like going from fail scene to fail scene.
http://www.youtube.com/watch?v=0EpdUj3VZmM
It's because you work in institutions polluted by politics, where the most politically capable people gain power rather than the most professionally capable. The higher the rank, the more time spent ass-covering, bitching and scheming, and the less time spent training professional skill.
All well and good to have a bunch of incompetent retards at the helm when it's CAVOK, but when the weather turns then it's all-hands-lost. Best to leave that ship at the next port, or never get on.
So go join the crew of a meritocratic ship, until then you'll hit the same bullshit over and over and over. Trust me, I know. I jumped ship many times, finally hit on a winner and glad I made the effort.
One particular give-away is when you walk into the interview and the head honcho has a gold-plated desk. The best thing to do in this situation is take a big shit right in the middle of that thing and walk out.
I have literally been shocked half to death at various times in my life having met people who wasted their entire life trying to learn how to control people when they could have just learned how to do the stuff themselves.
http://www.youtube.com/watch?v=NisCkxU544c
Rep. Carolyn Maloney's (D-NY) husband dies "unexpectedly"(kudos to Bloomberg) on climbing trip in Himalayas...
http://news.aol.com/article/new-york-congresswoman-carolyn-maloneys/688738?icid=main|main|dl1|link2|http%3A%2F%2Fnews.aol.com%2Farticle%2Fnew-york-congresswoman-carolyn-maloneys%2F688738
71-year-old former VP of Goldman Sachs. Interesting. Not suggesting anything...
Found dead in his tent the next day. "Cause of death unclear." Finished the NY Marathon last year in under 4 hours.
That was a puff piece about WFC. I'm beginning to dislike Vanguard. Oh, and imo Buffett is as full of crap as an xmas goose. I'll be glad when that old bastard finally kicks.
100% with you
http://seekingalpha.com/article/163632-taleb-questions-talent-of-wall-st...
http://seekingalpha.com/article/163632-taleb-questions-talent-of-wall-st...
Amanpour now interviewing Mugabe on CNN.
Mugabe is visibly jealous, seeing how the U.S. can print unlimited amount of fiatcos with no adverse impact whatsoever.
No inflation.
No rise in interest rates.
Ability to float unlimited amount of debt, month in, month out.
He wants to hire Geithner as his Finance Minister.
LOL...
Niall Ferguson on BNN (friday)
sovereign defaults, bond market failures coming soon, china's disappearing trade surplus......
http://watch.bnn.ca/#clip217106
Thank you!
thanks for the link, I always enjoy having to hear what he's got to say. I think he's more reliable because his place place as a historian doesn't force him to have any sort of 'purchased' bias. Needless to say it's clear objective thinking like that, that allowed him to trounce Krugman.
Easily the smartest late night talk show host.
MERS, that name on a lot of mortgages, 'as nominee', has been declared a front man and an entity that clouds the true ownership of the Promissory Note, by the Kansas Supreme Court (the highest court in Kansas). MERS has denied home owners the ability to identify the true owner of the Note and to have discussions with them.
MERS was created by, and is owned by AIG, Wamu, Citi, etc., to facilitate the slicing, dicing, and tranching of mortgages.
Matt Taibbi is working on an article calling MERS a criminal enterpirse.
http://www.doctorhousingbubble.com/mortgage-electronic-registration-systems-mers-a-system-designed-to-create-the-mortgage-back-security-bubble/
http://www.ritholtz.com/blog/2009/09/mortgage-electronic-registration-systems-loses-legal-shield/
Sounds a lot like the DTCC. The MERS owns all the mortgages, and holds them for the beneficial interest of the bond holders
As I expected,nothing came out of the g20 in the financial reform arena. And just as the Telegraph article points out;talk and no action. And why would I expect that?. All of those participant,and mainly the western world,are hostaages with their retirement funds to the big IBs. There is no way they can do anything,without invoking the wrath of those big guys. who is to tell a market maker what price to open SPY at on Monday?You put restriction on my pay,your spy opens at $100,and suddenly your populace is a couple of trillion less worth(or worthless!!). It is a big joke...
No need to fix what ain't broke. Those who deserve to be rich are rich again. What is the taxpayer class on this Earth for other than to keep feeding the needs of the self-chosen few?
Know your place.
Bingo! They already saved their system.
I feel a sense of honor and pride that is hard to put into words for having been awarded the great privilege of helping some poor struggling Goldman partner make the monthly vig on his Hampton's estate. And I know if I keep my nose to the grindstone and pay my taxes on time, I might be similarly honored by having my sweat and toil, as well as that of my grandchildren yet unborn, used to pick up the vig on the Nantucket getaway, too.
I don't know if you are familiar with tales from the Kingdom of Bhutan, where in the "Good Ole Days' the King's voidings were dried in the hot sun then sold in the local market for the subjects to sprinkle on their daily meals.
Though we citizens of the United States may never reach that exalted state of being, the folks at Goldman, with the generous assistance of Ben and Tim, are certainly bringing us close to a similar degree of rapture.
Sadly, I believe there would be a market today for Obama droppings. It seems that quite a few people enjoy eating his shit.
Unemployment rate for young explodes to 52.2%...
Don't those kids play violent video games? (gulp)
And that's exactly why you *don't* need to worry.
Here's Roman Polanski, now leave UBS alone!!!
Switzerland throws U.S. "a bone"; France demands his return.
http://gawker.com/5368903/aps-notes-on-roman-polanskis-arrest-leak-onto-news-wires-everywhere
Well, we know where Romie threw his little bone, into an underage starlet blasted on illegal drugs. I hope that wee fraction of a man gets a cell with Big 'ol Bubba, for a session of prison karma.
No doubt, I will get blasted for saying this but here goes.....
Black and white, not so much.
Mommy dropped dear 13 year old daughter off to model for Polanski for the French Men’s Vogue. By her own admission this 13 year old was not virgin at the time of the alleged rape. Nor was that the first time she had indulged in drugs or alcohol.
Moreover, there was a very biased and perhaps not exactly kosher prosecution attempted by the L.A. District Attorneys office.
Finally, there is the issue of whether this was a poltically motivated arrest by the Swiss to placate the US.
None, of this negates the fact that he may have raped this girl, but i don't believe this prosecution has anything to do with justice.
In Brasil they have a saying...when your feet touch the ground, you can f***...at least how that guy translated it that time
Brilliant the US asks for 50,000 names and some clever gnome says how about if we give you 4,000 and Roman Polanski -
make it 4,450 and you've got a deal
http://www.guardian.co.uk/film/2009/sep/27/roman-polanski-switzerland-cu...
Anybody else wondering what's behind the yen's rise?
"True" central bank capitulation to market forces?
Impending financial system collapse?
They were the first to implement the conventional policy response to credit deflation. Are they leading the world into the next chapter?
Question: Why is the yen going parabolic?
Answer: Unlimited printing of more and more yen as routine "steriliization" continues unabated.
My prediction: One day the U.S. Dollar will rally huge as deficits start spiraling even higher and Bernanke prints even faster
Seems to be the way things work now.
Agreed. Just wondering if there is a trigger driving the unwind, or if the unwind itself is best viewed as the trigger for the dissolution of all else.
The trigger is that the USD is now the funding currency of choice. So Yen is being bought back and USD sold. Quite a big trade to be unwound. Seems GBP/JPY is taking it very hard.
That's some good stuff. Thank you.
September 30th. It's the end of the fiscal year for Japan and is the traditional time to repatriate profits/assets. In the last twenty years, at times of yen strength, 3-31 (half year) and 9-30 tend to give the yen a little nitro boost.
The repatriation of profits by Japanese companies is expected to be bigger this half year (end Sept 30) because the Japanese government waived the taxes on them.
http://www.bloomberg.com/apps/news?pid=20601080&sid=a4nc1_cdYSgg
Mortgage serviced by Wells, MERS is beneficiary. Too goddamned good to be true!
What shall we build from the ruins?
https://www.allposters.com/-sp/Banner-of-the-Secession-Convention-in-Cha...
Lizzy
Thanks for that post. Nothing we haven't heard before but what an articulate concise sketch of the situation. Guys like that should be running things rather than political hacks like Summers and Geithner.
Anyone in Oregons third congressional district, congressman bleumenhaur's office says he is "...still undecided at this time..." when asked about HR1207. If you believe the fed books need to be audited Call congressman bleumenhaur
found this while I was parusing, seems like this could be a very valuble source if one knew how to use it...
http://www.zipinfo.com/products/cdz/cdz.htm
Michael Moore gets the call from Machine!!!!!
http://www.youtube.com/watch?v=sh0cBFZ1FXY
That was really, really good! Nothing better than Michael Moore on FORA.tv
September 25, 2009
United States: Portfolio Strategy: US Weekly Kickstart
Goldman Sachs Global Economics, Commodities and Strategy Research 1
United States: Portfolio Strategy
US Weekly Kickstart
Your five-minute guide to the US equity market: performance, earnings, valuation, & more
Valuation, final demand, profit margins, and inflation/deflation were key topics of
discussion in our meetings with West Coast fund managers this week. We maintain
our year-end 2009 price target of 1060 for the S&P 500, just 1% above current levels.
Our view remains that the market has fairly priced our and consensus expectations
for sales and margins. Higher revenue than we now expect would lift share prices.
Performance
The S&P 500 fell 1.4% this week. Consumer
Staples was the best performing sector, rising
2.3%. Energy and Materials were the worst
performers, falling 2.8% and 3.7%, respectively.
Our 2009 year-end price target of 1060 implies 1%
upside from current levels.
S&P 500 earnings
Our top-down EPS forecasts of $52 and $75 for
2009 and 2010 reflect +5% and +45% growth,
respectively. Our pre-provision and write-down
EPS forecasts are $69 for 2009 and $81 for 2010.
Bottom-up consensus forecasts a 12% increase in
2009 to $55, and a 36% increase in 2010 to $75.
Valuation
Top down, the S&P 500 trades at an NTM P/E of
15.2X (13.5X on pre-provision EPS). Bottom-up, it
trades at NTM P/E of 15.4X and LTM P/B of 2.2X.
Size and style
Large-cap (S&P 500) outperformed small-cap
(Russell 2000) by 85 bp over the past week and
has underperformed by 335 bp ytd. Large Cap
Energy outperformed Small Cap by 184 bp over
the past week and has underperformed by 2,180
bp ytd.
US Portfolio Strategy baskets
Our recommended thematic trades, all of which
have a pro-cyclical bias, had poor performance
this week. Our BRICs Sales basket <GSTHBRIC>
fell 2%, underperforming the S&P 500 by 80 bps.
Our Operating Leverage trade fell 29 bps. The
Weak Balance Sheet basket <GSTHWBAL> was
the worst performer, falling 3%.
S&P 500 stock performance this week
Leaders: AIG, MBI, RHT, F, LTD.
Laggards: EK, MCO, KIM, IP, UNH.
David J. Kostin
(212) 902-6781 | david.kostin@gs.com
Goldman, Sachs & Co.
Nicole Fox
(212) 357-1744 | nicole.fox@gs.com
Goldman, Sachs & Co.
Caesar Maasry
(212) 902-9693 | caesar.maasry@gs.com
Goldman, Sachs & Co.
Amanda Sneider
(212) 357-9860 | amanda.sneider@gs.com
Goldman, Sachs & Co.
The Goldman Sachs Group, Inc. does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that
could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification, see the end of the text. Other
important disclosures follow the Reg AC certification, or go to www.gs.com/research/hedge.html. Analysts employed by non-US affiliates are not registered/qualified as research analysts with FINRA
in the U.S.
The Goldman Sachs Group, Inc. Goldman Sachs Global Economics, Commodities and Strategy Research
German elections/results leaning conservative, mmmm verrrrrrry interessssstinngggggg!
Nice Terror alert on run up??? I guess she learned faity cats vote..lol
aaah yes, a play from the bushie book
Okay, now that Miss Merkel has captured her 2nd term in Germany, anybody wants to bet whether the market rockets up on this green shoot news. I say up - S&P up 37; Dow up 151; Nasdaq up 53. Anybody else?
Overnight Charts:
U.S. Index Futures
Dow
S&P 500
Nasdaq
Russell 2000
New Zealand
Australia
Japan
Korea
Taiwan
Hong Kong
China
India
United Kingdom
Germany
France
Amsterdam
Bonds
Dollar
Platinum
Copper
Gold
Silver
WTIC Crude
Gasoline
Natural Gas
So, a withdrawal of liquidity, then?
That Telegraph article is a must read.
"Obama's oratory was typically impressive. The trouble is, it wasn't true."
"We've brought the global economy back from the brink," Obama declared at Pittsburgh. No, Mr President. Incrementally, you've pushed it back to the edge."
It would be nice to get such clear eyed and logical reporting here in the states. There is only one problem with it as far as I can see, obviously this Brit is a racist...
You are sure the get the light bulb police knocking on your door.
Gold acting very weird lately. Now it is selling off on USD weakness / EUR strength... Just dropped $3.50 in a few mins when the USD/JPY tanked through 89 and EUR/USD moved up.
Its time that gold start rallying in other currencies besides the dollar.
That will really flip out the GridBot and Forex Megadroid traders.
LOL...
Well, it had broken the EUR/JPY correlation recently. Now if it can just strengthen vs the Shekel...
Speaking of Euro-Yen, they better start working early and hard to get it back over 131 before the London session - or that could turn from support into new resistance. More than a few were watching it.
Wrote you a reply Gilgamesh under my weekend post.
Heavy volume on the SRS Oct. 16 calls.
Important post by London Banker in the comment section at Roubini's blog:
There have been a lot of straws in the wind lately pointing to a big move by TPTB to consolidate their control of the system - and ensure continued free access to public monies. I suspect another "event" may be orchestrated soon to crash global equity and commodity markets and strengthen the dollar. The event will be used to ram through the Treasury/Fed legislation giving the Fed absolute power over "financial stability" and to stop the progress of the "audit the Fed" crusaders.
As with the Lehman failure last year, the headline "event" will not be what causes the damage. Lehman's failure itself did relatively little immediate damage. The seizing up of global liquidity resulted from withdrawals from money market funds and a co-ordinated round of global margin calls on prime brokerage clients as GS/MS/Citi doubled the required margin a week later (e.g., halving hedge fund leverage). The resulting global asset sell off and repatriation of proceeds is what caused the surge in the dollar (margin has to be paid in dollars) and led to the need for the central bank currency swaps.
The crashing global markets were the perfect backdrop for forcing through the Paulson Plan for unreviewable distribution of $700 billion to the very banks who triggered the global crash with their margin calls.
The power to call margin is the power to destroy. Margin calls trigger a sudden liquidity crisis, and if they can only be met by liquidation of assets, then markets crash very fast indeed. The OTC derivative markets and prime brokerage accounts have no public reporting of margin calls, but control the bulk of global liquidity. Margin calls in these two sectors caused the sudden seizure in October last year.
Since then margin requirements have eased off, fueling the rise of global markets, allowing leverage to approach pre-crash levels.
The Fed audit bill will go to the House next week with assured passage. If TPTB are going to make a move to stop it, it will be soon.
Same again, please!
Hide replies Reply to this comment By London Banker on 2009-09-25 03:33:09 Fascinating and frightening but it has the ring of truth, LB! Can you point to any recent signs in markets that would lend credibility to this hypothesis? Perhaps someone over at Zerohedge has also noticed that something like this is afoot. What are some of these straws in the wind, if I may ask.Hide reply Reply to this comment By Pecos Banker on 2009-09-25 04:17:57 Some of the straws:
- expiry of the money market fund guarantee by Treasury;
- Fed QE announced limit for 2009 approaching;
- Fed floating idea of withdrawing QE liquidity by reverse repos to money market funds;
- DOE reports of rapid decline in energy demand;
- patterns of similar stories about potential collapse of Chinese markets;
- pattern of stories about trade finance and trade collapse in run up to Christmas season (which could have been written any time but are just now appearing);
- lots of behind the scene meetings between Fed and other CBs in the run up to the G20;
- G20 announcing "new economic order" which adopts Fed/Treasury models and global "financial stability" goal;
- hints of dissatisfaction in Europe and Asia with being patsies again;
- IMF gold sales actually being planned (rather than just announced, as usual);
- Chinese demand for physical delivery of gold (like a huge margin call on base monetary reserves).
I'm beginning to feel the same way about "financial stability" as I do about the "war on terror". Both are marketing handles for massive frauds on the taxpayer for the benefit of an unaccountable elite.
If we believe in capitalism, then we should abhor "financial stability" which entrenches a privileged few through access to central bank liquidity while allowing the same few to rig markets and prey on investors through coordinated margin calls and market moves.
Hide replies Reply to this comment By London Banker on 2009-09-25 04:40:22 http://www.rgemonitor.com/roubini-monitor/257731#200363
Gloomy is that you? thanks for posting this
and for those who do not know, London Banker (now retired from blogging) ranks among the greatest - I was hoping he was going to submit a contributor article here.
I thought they would do it before the 25th meeting day. I wondered if they hadn't decided to give up and just let it go. I can't see that they have everyone covered. I would have expected the IPO flurry to run a bit more before an event. But I guess the audit the fed is the deadline. They might just do alot of varying threatening moves to make people think the expected is it. That way when the Wolf criers are discredited it can go through.
Well done gloomy. LB is top shelf stuff.
"MARK IT ZERO,DUDE"
So, what would one do? Go all to cash? I have a few mutual funds in my Roth that are in the overseas markets.
Is my only option is to go to a short term treasury only mutual fund? I'm concerned about the liquidity mop up and pulling it out of money market funds. Would I be protected in the short term treasury only fund?
Will this affect only foreign markets or US markets as well or the whole damned planet?
If it strengthens the dollar, then wouldn't it cause a drop in the US markets?
Just trying to make sure what is going on in my brain is correct.
Is this LB guy for real?
Brings new meaning to "Don't fight the Fed".
So CNBC doesn't exactly do homework on the people who appear on their shows. That doesn't exactly surprise me.
But, after this financial crisis caught so many so-called experts flat-footed, I don't think many of the other so-called "experts" deserve the title either.
I keep remembering the video that went around of Peter Schiff trying to tell everyone that this crisis was coming, but experts on all of the shows were making fun of him, laughing at him...who is laughing now? He isn't laughing. He is telling people that things are going to get worse, and many of the same people that made fun of him on the first video are doing it again this time around. You would think that they would show a little shame at being caught being so stupid the first time...but nooooooo.
You can't fix stupid.
Here's the video:http://www.youtube.com/watch?v=2I0QN-FYkpw
Scary chart of the day
The subsidization economy in graphical form - US debt (private) actually fell for the first time since 1954... deflationary. US federal debt? It would make a hockey stick ashamed of itself
http://www.fundmymutualfund.com/2009/09/american-debt-falls-for-first-ti...
Good list of links by the way - thanks.
Lindsey Williams (and to a lesser extent Alex Jones) seem to make more and more sense by the minute: Zoellick Says U.S. Dollar’s Primacy Not a Certainty (not that this is a surprise)
http://www.bloomberg.com/apps/news?pid=20670001&sid=aj_lWM84rMQ8
Homeowners who 'strategically default' on loans a growing problem " People who default strategically and lose their houses appear to understand the consequences of what they're doing. Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated," based on the patterns of selective payments observable in their credit files. For example, they tend not to default on home equity lines of credit until after they bail out on their main mortgages, sometimes to draw down more cash on the equity line."
http://www.latimes.com/classified/realestate/news/la-fi-harney20-2009sep20,0,6741264,print.story
not a good morning in japan
Great report on CRE:
http://contraryinvestor.com/mo.htm
LOL at Jeff Macke...man thats some pretty damn good crack and/or crystal meth he's on there. He totally perplexed Beaker with the classic rant about the "car people."
http://www.cnbc.com/id/15840232?video=1128608144&play=1
That is epic.
.....comment number "56", Bubble Trouble
"It is a worry about the possibility not of a market meltdown, but of a gradual dawning of comprehension on the part of governments and the public that their investment in the humanities is contaminated with toxic debt."
The humanities are in the same state financial markets were in before they crashed. Assessing the growing mountain of toxic intellectual debt, Philip Gerrans considers going short on some overvalued research (Times Higher Educational)
I know, I know, i don't say much here at zerohedge, but i do squeek once in awhile. Thoughts came to me that some of your readers here just might enjoy this link as to above paste.
http://www.timeshighereducation.co.uk/story.asp?storycode=407277
Zero Hedge has become a major piece in NY magazine...
http://nymag.com/guides/money/2009/59457/
100% agree with you.
must be very fearful of what he is claiming.....
Andy, NOT my article. I put the link up so this story is out tonight and done by the opening bell tomorrow (in my mind).
The story does not revel details that were not already in the public domain, had one bothered to look.
Like i said before if Tyler, is an example of a lunatic than i am a size buyer.
"But after two weeks, the attempts at humor began to recede, replaced by dense market analysis with technical charts and graphs. It read like the work of a financial analyst gone AWOL. “Overview of Implied Default Rates and Probabilities” went one typically scintillating headline. In late January, when"
Attempts at humor began to recede? Man he is definitely not keeping up with current events. LOL
I do not think they have even one of Tylers aggregate pegged.
God that was a great article. There was a lot of great things Zero Hedge has done that I didn't even know about. The best part of the article is when he talks about Zero Hedge and when he quotes things zero hedge says. Then he ruins it here and there by trying to think about stuff which mainstream media has forgotten how to do.
those little fuckers. hatchet job indeed... Says another, “You can offer any logical argument, they just don’t care. They’re going to follow him over the cliff.” you motherfuckers in mainstream media have been lying to us sooooooooooooooooooo fucking long, it's refreshing to follow a site that makes sense, sonuds reasonable and presents the facts. i hope wall street burns to the fuckin ground. stick that in your pipe and smoke it.
well, the article is off a bit. Arest of the GS programmer hapened around the July 4 th and by that time ZH already had a cult following...
Regarding the NY article, put the facts on the table and let the best man/woman win. So far ZH is ahead two to zip, having taken a bite out of the ass of flash trading and CNBC.
It is also becoming clear that the salad days of Goldman Sachs are rapidly coming to a close. The momentum is building too quickly. Hopefully the regulators will do a Standard Oil on GS before the crazies out there in the general public exact their own type of frontier justice. I'll repeat an old piece of advice from some personal anti-terror training: If you are a GS partner, it's a good idea to vary your time and route.
The article criticizes ZH for being too conspiratorial at the same time it plays the dumbed down "don't use those big words on me" schtick. Well, Mr. Hagan, if you don't understand, how do you know ZH is wrong?
Isn't it interesting that the NYMag would devote a cover story to marginalize an already fringe outfit filled with lunatic, absurd, unsubstantiated rumormongering?
This enterprise is clearly not without some risk, collecting enemies like the Chairman and CEO of Lazard (http://en.wikipedia.org/wiki/Bruce_Wasserstein). OK, the latter is clearly conjecture on my part, but an interesting thought nevertheless.
Rock on, TDs, the crescendo of the response is proof enough to me that some nuggets are buried here. Much further prospecting is called for.
The NYmag piece reads like ZH and TD have stepped on pretty many self-important inflamed toes with hugely ingrown nails...
But wait, what is there to hurt, *unless ZH has been right all the time*. Thanks for pointing it out, NYmag.
and wouldn't that be poetic justice if buffett's bitch wells fargo went nuclear. now that would put a smile on my face.
Tyler, et al.
Based on what I've been reading the last 9 months, I highly doubt that the real TD would be stupid enough to divulge to people he didn't trust that he was TD. If Dan truly is TD, then you're stupid for opening your mouth because it's obvious you now have a lot of enemies waiting to discredit you. If you aren't, then just ignore this piece, this is obvious just a way to figure out who you really are.
DO NOT RESPOND TO THE NYMAG ARTICLE. Whether or not Tyler is that Dan Ivandjiiski guy, it doesn't matter to us. However, the fact that you guys have denied it and the article is presuming that he is, it's an attempt to stir you guys up. It's the typical "shake the tree and see what falls out" tactic.
Here is an amazingly frank interview that I just found on youtube. It is John Coleman (a weatherman) completely thrashing global warming.
http://www.youtube.com/watch?v=Lk8SSqc7ekM