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I think it's time to seriously discount housing as a future indicator of household spending and wealth. People are no longer using their homes as ATMs and the HELCO game has come and gone. That may be devastating to some people and their ability to access credit may be forever impaired, but those are the breaks.
What will be gold:oil ratio when oil shoots to $200?
Currently we depend more on oil than gold.
I guess the ratio will be benefiting the oil, but can't predict how much.
Zapatero: a tus zapatos!
I consitently try to read this recap every week and it gets tossed out with all the other propaganda as I fear I am not clever enough to sort the lies from truth. If somone who understands a complex topic better than I do presents something in a deceptive fashion I will disregard everything they say and seek another source of info. This style of recap is difficult for me to sort out because I sence both sides of the article are disinginune and biased in deceptive ways, that I cannot see clearly for myself besides sensing something is not quite right.
I think the author is trying to express the biased view from both sides, however this biased veiwpoint in either direction does not provide me, a less sophisticated reader with anything but an instinct to seek a more honest discourse from both sides. I suggest that many readers may be here in part for an education. I do not fear complexity or reading what I do not understand. I do however fear misrepresentation of complexity while I am trying to learn to comprehend it. There are so many lies in our society that often I have to toss the baby out with the bathwater when I sence deception.
This bull bear recap is something I very much desire from this site. However in this style I must protect my budding comprehension of complex financial matters with intellectual honesty if I am to have any chance of seeing through the barrage of lies that are comsuming my future.
Thank you for writing this, and all that Zero Hedge has done towards my education.
doug noland in yest's "credit bubble bulletin" [PrudentBear], points out what the banksters have been up to, w/ their multi-national friends (Paste):
May 20 – Bloomberg (Tim Catts): “Google… Johnson & Johnson sold corporate bonds as issuance soared to at least $53.7 billion in the busiest week on record.”
Investment-grade issuers included Johnson & Johnson $3.5bn, Texas Instruments $3.5bn, Google $3.0bn, International Lease Finance $2.25bn, Blackrock $1.5bn, US Bancorp $1.0bn, Burlington Northern $750 million, Caterpillar $750 million, Liberty Mutual $600 million, Energizer $600 million, CSX $900 million, Alabama Power $500 million, Walt Disney $500 million, Aetna $500 million, Cintas $500 million, Duke Energy $500 million, E-Trade $435 million, McDonalds $400 million, Norfolk Southern $400 million, Kellogg $400 million, Ryder System $350 million, South Carolina E&G $350 million, Great Plains Energy $350 million, DTE Energy $300 million, UDR $300 million, B-Corp $240 million and Public Service New Hampshire $120 million.(End Paste)
slewie thinks maybe we are seeing some of that bankster liquidity gettin spread around, here. doug n. sez: An index of investment grade bond risk added about a basis point to 90 bps. and: Ten-year yields declined 3 bps to 3.15%. Long bond yields dipped one basis point to 4.30%. so, you can do the math on these corp. bond loans.
the manure is being spread, eh? since the nightmare in japan, i have been noting what i call the backorder economy. the just-in-time supply train got held up by the scientists: earthquake, tsunami, techno-fail. so i clown about getting out there and financing those backorders! hurry, and we'll get the paper into the securities piepline, ASAP!
so, it's nice to see that people are paying attention. lol.
some of this long green = mergers + buyouts. M&A activity is upskie, but this "business cycle" so far has consisited of trying to get some fuking air into this damned tire which is on a freaking bent rim---and not getting it reflated, yet.
the headwinds are severe. econom is taking some body punches, and that head shot is still fuk_u'ing away, reminding us of how clueless and powerless we are in the presence of our own wastes, and just how toxic we really are!
b/c inflation has entered the econom "food chain" along w/ the radiation, some of these corporate borrowers have also been somewhat impoverished by inflation, even tho these top dogs have pricing power, so some of these new green stamps (that aren't replacing maturing debt) will go to finance the increased costs of inputs. if you don't have a printing press, inflation is a tax. yup, you can pay the debts back with cheaper dollars, but you still must pay for the needs of today, first. and if prices are going up faster than your bankroll, you may eventually need a loan, yourself.
econom headwinds and inflation. stay defensive. keep tacking into the wind. it's all you can do. don't run aground b/c false accounting reports don't show those zombie shoals, now, ok?
Follow the link below to find out why the Hong Kong Mercantile Exchange must be seen and understood as an extension of the Chinese government and its long term goals, and consequently, why it will not help create an equitable or realistic price discovery mechanism for gold. Not for now anyway.
Thanks for the weekly summary.
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