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Today's Economic And Political Docket - Personal Income, GM Channel Stuffing And The Senate

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Tue, 08/02/2011 - 08:27 | 1516188 Archimedes
Archimedes's picture

Hey Zero Hedgers,

With little to no trading volume, lowering loss reserves, no lending and the absense of Primary dealers front running the fed and flipping bonds back to the Bernank where are banks making money from this quarter? Any insight would be much appreciated. I have a feeling there will be some suprise "misses" by some of the banks this next Qtr.

Any thoughts?

 

 

Tue, 08/02/2011 - 08:39 | 1516208 Cursive
Cursive's picture

@Archimedes

Best thought is to stay out of this casino.  GM is an unnecessary company because there isn't enough demand for cars to justify all of these carmakers, yet Uncle Sugar keeps it alive.  Traders have made money off of ownng the banks over the last 2 years, but these banks are worthless.  It will come crashing down, but when?  Trading these markets is a game of russian roulette.

Tue, 08/02/2011 - 08:44 | 1516220 Sudden Debt
Sudden Debt's picture

Haven't you ever got a letter from visa about a overdraft?

Those cost 10$ and are added to your next visa bill.

 

And if they where smart, they shorted their own stock which could make them also a lot of money.

Tue, 08/02/2011 - 08:27 | 1516189 MonkeySmoke
MonkeySmoke's picture

Tyler, isn't the "Super Congress" bill wrapped up inside the Budget Control Act? If so, would not it be prudent for the Senate to stand down on passing this "Act"? The understanding that I have is the "Super Congress" will have the power to eliminate the 2nd Amendment, which could potentially hurt one third of my portfolio.

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