Sunday, August 22, 2010
Gold going up!
Worst part of the article:
"The US Dollar and American standard of living shall be cut in half over the next few years."
"The US Dollar and American standard of living shall be cut in half over the next few years."
Maybe taxing wasnt a good idea
Australia most likely axing the super profits tax after Labor cant get a majority.
Monday, August 16, 2010
Vacation and Youtube.
I went on vacation to San Diego, so there were no updates for a couple of days. To celebrate my return to work I have decided to post a couple of informative youtube videos instead of links.
To start things off, how about us spending some serious money from the stimulus on some seriously stupid things.
To start things off, how about us spending some serious money from the stimulus on some seriously stupid things.
Tuesday, August 10, 2010
Did anyone even report on these shootings?
Shootings in CT, that got no press, I wonder what would have happened if the shooter would have been from the Tea Party.
Friday, August 6, 2010
Fannie Mae wins again
Fannie Mae will be getting another 1.5 billion from the Treasury. Go Government Go! How about that housing recovery?
Teachers are not disconnected from reality at all
While millions deal with unemployment, a teachers union has decided it is worth it fight the exclusion of Viagra from their taxpayer funded health fund. Proving once again, that teachers are human and suck just as bad as the rest of us.
Monday, August 2, 2010
NY Times hypocrisy.
We need to hire more people in government.
This guy thinks that the government can fix the economy. Total idiot. he has no real sense of economics. So enjoy the article.
Maybe the IRS should try to collect on some of this.
This is pathetic. 95% of funds allocated to a job are unaccounted for.
Saturday, July 31, 2010
Wednesday, July 28, 2010
Daily Reckoning Stock Picks
Stock Picks From the Vancouver Conference
By Chris Mayer
"President Obama said he would've fired Lloyd Blankfein, the head of Goldman Sachs, if he worked for the White House... Unfortunately, the White House works for Goldman Sachs." - from my presentation at the Agora Financial Investment Symposium.
I'm back from the Agora Financial Investment Symposium in Vancouver. As usual, this great event offered a diverse mix of ideas. Doom seemed to prevail often enough, with many speakers calling for a healthy drop in the stock market and challenging economic times ahead. Even so, there was plenty of enthusiasm for certain ideas. More about which, below...
One of the pleasures of being in Vancouver is getting The Globe and Mail delivered to your room every morning. It's a good paper, and with Canada's resource-based economy, it tends to carry worthy stories on what's happening in the resource sector. More than a few caught my eye, as they covered areas I've been watching of late.
For instance, there was a story about how Canadian companies are becoming increasingly active in Colombia. There has been something of a resource boom down there, as the country enjoys some stability. There are 17 listed Canadian companies with a presence in Colombia. The lure is the untapped oil reserves. There hasn't been much exploration in 50 years. Already, Colombia is the third-largest South American producer of oil after Venezuela and Brazil. Oil is its biggest export.
I have a Colombian oil company I've been researching as a possible recommendation. Either way, I'll share with you what I've learned about the opportunities unfolding in Colombia.
There was another fascinating story about how Canada ships more and more of its oil to Asia, in particular China. Currently, one ship leaves every month carrying 600,000 barrels of crude oil. That's a trickle, but Canada's two biggest pipeline companies are looking to lay pipe and ship massive amounts of oil to Vancouver, en route ultimately to China.
The appeal of Canada's oil sands has improved mightily over just the last 12 months. For one thing, the troubles in the Gulf and deep-water drilling make land sources of oil look a lot less risky. Secondly, China's appetite for crude oil continues to grow. (Last week, the IEA reported China is now the world's largest energy user, surpassing the US.) And now this: new pipelines.
The pipelines do two things. One, they lessen Canada's dependence on the US, which has been murmuring about greenhouse gas legislation. Such legislation would make it more difficult for Canada's oil sands to find buyers in the US. Secondly, the pipeline companies actually make more money selling to Asia. Enbridge says it can earn $2-3 more per barrel selling to the Chinese. At 550,000 barrels a day - the estimate for one pipeline - that's a lot of extra cash.
I'm looking over a small heavy oil player in Canada that appears to trade at a deep discount to its underlying assets.
Another story that caught my eye was about wheat. I don't know if you've noticed, but wheat prices are up a third in just the last six weeks. The main culprit is too much rain or too little rain in Russia, Europe and Western Canada. So wheat prices are flying.
It seems like just two months ago, everybody was chipper about having bumper crops in all the grains. Now weather has suddenly gotten bad and wheat is up a third. You never know anything about crop prices until they hit the bin.
Longer term, though, we know we're going to need to grow more food. There are many ways to get there - fertilizer, irrigation, new acreage, etc.
Returning to the Vancouver conference, many of the most compelling investment ideas featured investments in oil, emerging markets, agriculture and water. My friend Rick Rule, a great resource investor and speculator, put in some bullish words for potash and water. He mentioned a few different "water plays" like PICO and Limoneira (LMNR).
In my presentation, I encouraged people to invest overseas. I also talked about the growing bulge of new consumers in emerging markets. Finally, I put in some kind words for farmland and agricultural markets.
In my workshop, I talked about a few specific stocks. The general idea was to present some stocks that did not require you to have much of an opinion about the economy. Lots of people hold tightly to such opinions. I asked how many people thought we would have a double-dip recession in the next two years. Almost everyone's hand went up. No one thought we'd avoid that fate.
Then I asked how many people had no idea. A few hands went up. Honest people, I say. I don't have any idea either. It's something that's unknowable. There are too many shifting variables. A strong conviction on a double dip is like having a strong conviction about next month's weather. It's a tough call.
But you don't really have to know the answer to the double-dip question to invest well. Too often, people think that a poor economy makes for a bad investing environment. But that's not always true. It depends on prices. Right now there are some interesting bargains out there.
Anyway, four of the stocks I mentioned are existing recommendations from Capital & Crisis:
Gulfport Energy (NASDAQ:GPOR) - An oil and gas company based in Louisiana. Besides solid producing assets in the US, it owns 131,000 net acres of oil sands in Canada via an investment in Grizzly Oil Sands. Recent transactions support valuations of $3,000-14,000 per acre. In per share terms, that's $9-42 per share for Gulfport, which trades for only $13.50. It's a stock greatly skewed to the upside with lots of asset value supporting the current stock price.
Loews Corp. (NYSE:L) - A conglomerate with interests in three publicly traded companies: Diamond Offshore, Boardwalk Pipeline and CNA Financial. The value of its stake in these three alone equals the stock price. You get the reset of the company free, which includes cash, HighMount (a natural gas company) and other investments. Total net asset value is $50 per share easy. The stock is $37.
FEMSA (NYSE:FMX) - A Mexican blue chip with interests in two publicly traded companies: Coca-Cola FEMSA and Heineken. FMX owns the third business outright. It is OXXO, a chain of convenience stores. The implied valuation for OXXO is about half publicly traded comparables. Net asset value for FMX is close to $60 per share. The stock is only $46.
Foster Wheeler (NASDAQ:FWLT) - A large engineering and construction firm. FWLT is flat-out cheap, trading at an earnings multiple of only 5-6 times net of cash. The stock is more than 70% off its high. The business is picking up again, yet the market values it as if earnings are about to fall off the table.
I could've gone on to mention more. But really, I don't think you have to have a positive view of the economy to own these names, which provide ready discounts to assets and/or potential earnings.
And I would urge all investors to continue seeking out the kinds of stocks that can deliver strong returns, even if the economy simply muddles along.
Chris Mayer
for The Daily Reckoning Australia
Editor's Note: Chris is the editor of Capital and Crisis and Mayer's Special Situations, a monthly report that unearths unique and unconventional opportunities in smaller-cap stocks. In 2008, Chris authored Invest Like a Dealmaker: Secrets From a Former Banking Insider.
By Chris Mayer
"President Obama said he would've fired Lloyd Blankfein, the head of Goldman Sachs, if he worked for the White House... Unfortunately, the White House works for Goldman Sachs." - from my presentation at the Agora Financial Investment Symposium.
I'm back from the Agora Financial Investment Symposium in Vancouver. As usual, this great event offered a diverse mix of ideas. Doom seemed to prevail often enough, with many speakers calling for a healthy drop in the stock market and challenging economic times ahead. Even so, there was plenty of enthusiasm for certain ideas. More about which, below...
One of the pleasures of being in Vancouver is getting The Globe and Mail delivered to your room every morning. It's a good paper, and with Canada's resource-based economy, it tends to carry worthy stories on what's happening in the resource sector. More than a few caught my eye, as they covered areas I've been watching of late.
For instance, there was a story about how Canadian companies are becoming increasingly active in Colombia. There has been something of a resource boom down there, as the country enjoys some stability. There are 17 listed Canadian companies with a presence in Colombia. The lure is the untapped oil reserves. There hasn't been much exploration in 50 years. Already, Colombia is the third-largest South American producer of oil after Venezuela and Brazil. Oil is its biggest export.
I have a Colombian oil company I've been researching as a possible recommendation. Either way, I'll share with you what I've learned about the opportunities unfolding in Colombia.
There was another fascinating story about how Canada ships more and more of its oil to Asia, in particular China. Currently, one ship leaves every month carrying 600,000 barrels of crude oil. That's a trickle, but Canada's two biggest pipeline companies are looking to lay pipe and ship massive amounts of oil to Vancouver, en route ultimately to China.
The appeal of Canada's oil sands has improved mightily over just the last 12 months. For one thing, the troubles in the Gulf and deep-water drilling make land sources of oil look a lot less risky. Secondly, China's appetite for crude oil continues to grow. (Last week, the IEA reported China is now the world's largest energy user, surpassing the US.) And now this: new pipelines.
The pipelines do two things. One, they lessen Canada's dependence on the US, which has been murmuring about greenhouse gas legislation. Such legislation would make it more difficult for Canada's oil sands to find buyers in the US. Secondly, the pipeline companies actually make more money selling to Asia. Enbridge says it can earn $2-3 more per barrel selling to the Chinese. At 550,000 barrels a day - the estimate for one pipeline - that's a lot of extra cash.
I'm looking over a small heavy oil player in Canada that appears to trade at a deep discount to its underlying assets.
Another story that caught my eye was about wheat. I don't know if you've noticed, but wheat prices are up a third in just the last six weeks. The main culprit is too much rain or too little rain in Russia, Europe and Western Canada. So wheat prices are flying.
It seems like just two months ago, everybody was chipper about having bumper crops in all the grains. Now weather has suddenly gotten bad and wheat is up a third. You never know anything about crop prices until they hit the bin.
Longer term, though, we know we're going to need to grow more food. There are many ways to get there - fertilizer, irrigation, new acreage, etc.
Returning to the Vancouver conference, many of the most compelling investment ideas featured investments in oil, emerging markets, agriculture and water. My friend Rick Rule, a great resource investor and speculator, put in some bullish words for potash and water. He mentioned a few different "water plays" like PICO and Limoneira (LMNR).
In my presentation, I encouraged people to invest overseas. I also talked about the growing bulge of new consumers in emerging markets. Finally, I put in some kind words for farmland and agricultural markets.
In my workshop, I talked about a few specific stocks. The general idea was to present some stocks that did not require you to have much of an opinion about the economy. Lots of people hold tightly to such opinions. I asked how many people thought we would have a double-dip recession in the next two years. Almost everyone's hand went up. No one thought we'd avoid that fate.
Then I asked how many people had no idea. A few hands went up. Honest people, I say. I don't have any idea either. It's something that's unknowable. There are too many shifting variables. A strong conviction on a double dip is like having a strong conviction about next month's weather. It's a tough call.
But you don't really have to know the answer to the double-dip question to invest well. Too often, people think that a poor economy makes for a bad investing environment. But that's not always true. It depends on prices. Right now there are some interesting bargains out there.
Anyway, four of the stocks I mentioned are existing recommendations from Capital & Crisis:
Gulfport Energy (NASDAQ:GPOR) - An oil and gas company based in Louisiana. Besides solid producing assets in the US, it owns 131,000 net acres of oil sands in Canada via an investment in Grizzly Oil Sands. Recent transactions support valuations of $3,000-14,000 per acre. In per share terms, that's $9-42 per share for Gulfport, which trades for only $13.50. It's a stock greatly skewed to the upside with lots of asset value supporting the current stock price.
Loews Corp. (NYSE:L) - A conglomerate with interests in three publicly traded companies: Diamond Offshore, Boardwalk Pipeline and CNA Financial. The value of its stake in these three alone equals the stock price. You get the reset of the company free, which includes cash, HighMount (a natural gas company) and other investments. Total net asset value is $50 per share easy. The stock is $37.
FEMSA (NYSE:FMX) - A Mexican blue chip with interests in two publicly traded companies: Coca-Cola FEMSA and Heineken. FMX owns the third business outright. It is OXXO, a chain of convenience stores. The implied valuation for OXXO is about half publicly traded comparables. Net asset value for FMX is close to $60 per share. The stock is only $46.
Foster Wheeler (NASDAQ:FWLT) - A large engineering and construction firm. FWLT is flat-out cheap, trading at an earnings multiple of only 5-6 times net of cash. The stock is more than 70% off its high. The business is picking up again, yet the market values it as if earnings are about to fall off the table.
I could've gone on to mention more. But really, I don't think you have to have a positive view of the economy to own these names, which provide ready discounts to assets and/or potential earnings.
And I would urge all investors to continue seeking out the kinds of stocks that can deliver strong returns, even if the economy simply muddles along.
Chris Mayer
for The Daily Reckoning Australia
Editor's Note: Chris is the editor of Capital and Crisis and Mayer's Special Situations, a monthly report that unearths unique and unconventional opportunities in smaller-cap stocks. In 2008, Chris authored Invest Like a Dealmaker: Secrets From a Former Banking Insider.
NIA Stock Pick
Canadian Zinc Corp. (Toronto: CZN) (OTCBB: CZICF)
Price: $0.37
www.canadianzinc.com
Our new stock suggestion is Canadian Zinc Corp. currently on the Toronto exchange at $0.37 and on the OTCBB exchange at $0.358.
When the Hunt brothers attempted to corner the silver market in 1980, driving the price of silver up to $50 per ounce, they were quietly getting ready to open their own silver mine. The mine the Hunt brothers were getting ready to open is called Prairie Creek. It was explored, developed and brought almost to completion, but never operated. After Federal Reserve Chairman Paul Volcker raised interest rates to 20% and saved America from the inflationary crisis it was about to experience, the price of silver collapsed. The Hunt brothers were forced to file for bankruptcy and Prairie Creek was placed into receivership.
CZN now owns the rights to the Prairie Creek Silver, Lead & Zinc mine in Canada. CZN’s long-term aim is to bring the 100%-owned Prairie Creek Mine in the Mackenzie Mountains of the Northwest Territories into production at the earliest possible date. The mine, which has a fascinating 25 year history, is a silver and base metals property already in the advanced stages of development, with substantial resources of high-grade silver, zinc, and lead.
The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure. There are still fresh paint signs on the walls from the Hunt brothers in the 1980s. In fact, in one of the bathrooms, you can see where the tile people suddenly stopped working and left all the tools behind when the Hunt brothers were forced to abandon the project.
In 2006 and 2007, CZN carried out major programs at Prairie Creek including driving a new internal decline approximately 600 metres long which enabled a significant underground exploration and infill drilling program to occur. A total of $18.7 million was invested in Prairie Creek in 2006 and 2007.
A Technical Report dated October 12, 2007 indicates that the Prairie Creek Property hosts Measured and Indicated Resources of 5,840,329 tonnes grading 10.71% zinc, 9.90% lead, 161.12 grams silver per tonne and 0.326% copper. In addition, the report confirms a large Inferred Resource of 5,541,576 tonnes grading 13.53% zinc, 11.43% lead, 215 grams per tonne silver and 0.514% copper and additional exploration potential.
The Measured and Indicated Resource is now capable of supporting a mine life of at least 20 years at the planned 600 - 1,200 tonnes per day production rate. Although CZN holds permits for the exploration and development of the Prairie Creek Property, CZN does not have all the permits necessary to operate the mine. Recently, CZN applied to the Mackenzie Valley Land and Water Board for permits that will allow the operation of the mine.
Having a mill that is 90% complete and machinery that is still in good working condition gives CZN a tremendous advantage in getting this mine up and running. It would cost well over $100 million in today's dollars to build what they already have! The main thing holding CZN back from taking this property into production is the environmental impact board which should have a decision made by March 2011.
CZN also holds a 17% interest in Vatukoula Gold Mines plc. The Vatukoula Gold Mine located in Fiji recovered 38,402 ounces of gold during the nine months ended May 31, 2010. Vatukoula trades on the London Stock Exchange under ticker symbol VGM. CZN's shares in VGM are currently worth $18.2 million Canadian dollars.
CZN has 125,150,563 million shares outstanding giving it a market cap at $0.37 of $46.3 million Canadian dollars making it a truly undervalued situation. As of March 31, 2010, CZN had cash of $4.956 million, short term investments of $1.687 million, and no debt. On July 1, 2010, it was announced that CZN raised $2.5 million in a private placement at $0.40 per share.
If we combine CZN's cash and short-term investments with the recent private placement and estimate that CZN has burned around $1 million since the end of the 1Q, CZN probably has a cash position right now of somewhere around $8.1 million.
If we take CZN's current market cap of $46.3 million and subtract an estimated cash position of $8.1 million and the value of their 17% stake in VGM of $18.2 million, CZN’s Prairie Creek Property is currently being valued at only $20 million!
Remember, Prairie Creek already has about $100 million in infrastructure in place from the Hunt brothers' efforts and CZN has already spent another $18.7 million on exploration.
CZN plans to mine not only silver but also zinc. Because of recent gains in zinc prices, the U.S. government is now looking for ways to make coins without zinc. Congressman Ron Paul recently said, "We could not maintain the gold standard nor the silver standard. We could not maintain the copper standard, and now we cannot even maintain the zinc standard, paper money inevitably breeds inflation and destroys the value of currency.”
Sprott Asset Management is a major investor in CZN. As of December 31, 2009, they reported shared voting power of 17,652,033 shares. Sprott, just like CZN, is also a major shareholder in VGM.
NIA considers CZN to be a once in a lifetime opportunity to prosper during the upcoming hyperinflationary crisis.
Our legal disclaimer: http://inflation.us/legaldisclaimer.html
Price: $0.37
www.canadianzinc.com
Our new stock suggestion is Canadian Zinc Corp. currently on the Toronto exchange at $0.37 and on the OTCBB exchange at $0.358.
When the Hunt brothers attempted to corner the silver market in 1980, driving the price of silver up to $50 per ounce, they were quietly getting ready to open their own silver mine. The mine the Hunt brothers were getting ready to open is called Prairie Creek. It was explored, developed and brought almost to completion, but never operated. After Federal Reserve Chairman Paul Volcker raised interest rates to 20% and saved America from the inflationary crisis it was about to experience, the price of silver collapsed. The Hunt brothers were forced to file for bankruptcy and Prairie Creek was placed into receivership.
CZN now owns the rights to the Prairie Creek Silver, Lead & Zinc mine in Canada. CZN’s long-term aim is to bring the 100%-owned Prairie Creek Mine in the Mackenzie Mountains of the Northwest Territories into production at the earliest possible date. The mine, which has a fascinating 25 year history, is a silver and base metals property already in the advanced stages of development, with substantial resources of high-grade silver, zinc, and lead.
The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure. There are still fresh paint signs on the walls from the Hunt brothers in the 1980s. In fact, in one of the bathrooms, you can see where the tile people suddenly stopped working and left all the tools behind when the Hunt brothers were forced to abandon the project.
In 2006 and 2007, CZN carried out major programs at Prairie Creek including driving a new internal decline approximately 600 metres long which enabled a significant underground exploration and infill drilling program to occur. A total of $18.7 million was invested in Prairie Creek in 2006 and 2007.
A Technical Report dated October 12, 2007 indicates that the Prairie Creek Property hosts Measured and Indicated Resources of 5,840,329 tonnes grading 10.71% zinc, 9.90% lead, 161.12 grams silver per tonne and 0.326% copper. In addition, the report confirms a large Inferred Resource of 5,541,576 tonnes grading 13.53% zinc, 11.43% lead, 215 grams per tonne silver and 0.514% copper and additional exploration potential.
The Measured and Indicated Resource is now capable of supporting a mine life of at least 20 years at the planned 600 - 1,200 tonnes per day production rate. Although CZN holds permits for the exploration and development of the Prairie Creek Property, CZN does not have all the permits necessary to operate the mine. Recently, CZN applied to the Mackenzie Valley Land and Water Board for permits that will allow the operation of the mine.
Having a mill that is 90% complete and machinery that is still in good working condition gives CZN a tremendous advantage in getting this mine up and running. It would cost well over $100 million in today's dollars to build what they already have! The main thing holding CZN back from taking this property into production is the environmental impact board which should have a decision made by March 2011.
CZN also holds a 17% interest in Vatukoula Gold Mines plc. The Vatukoula Gold Mine located in Fiji recovered 38,402 ounces of gold during the nine months ended May 31, 2010. Vatukoula trades on the London Stock Exchange under ticker symbol VGM. CZN's shares in VGM are currently worth $18.2 million Canadian dollars.
CZN has 125,150,563 million shares outstanding giving it a market cap at $0.37 of $46.3 million Canadian dollars making it a truly undervalued situation. As of March 31, 2010, CZN had cash of $4.956 million, short term investments of $1.687 million, and no debt. On July 1, 2010, it was announced that CZN raised $2.5 million in a private placement at $0.40 per share.
If we combine CZN's cash and short-term investments with the recent private placement and estimate that CZN has burned around $1 million since the end of the 1Q, CZN probably has a cash position right now of somewhere around $8.1 million.
If we take CZN's current market cap of $46.3 million and subtract an estimated cash position of $8.1 million and the value of their 17% stake in VGM of $18.2 million, CZN’s Prairie Creek Property is currently being valued at only $20 million!
Remember, Prairie Creek already has about $100 million in infrastructure in place from the Hunt brothers' efforts and CZN has already spent another $18.7 million on exploration.
CZN plans to mine not only silver but also zinc. Because of recent gains in zinc prices, the U.S. government is now looking for ways to make coins without zinc. Congressman Ron Paul recently said, "We could not maintain the gold standard nor the silver standard. We could not maintain the copper standard, and now we cannot even maintain the zinc standard, paper money inevitably breeds inflation and destroys the value of currency.”
Sprott Asset Management is a major investor in CZN. As of December 31, 2009, they reported shared voting power of 17,652,033 shares. Sprott, just like CZN, is also a major shareholder in VGM.
NIA considers CZN to be a once in a lifetime opportunity to prosper during the upcoming hyperinflationary crisis.
Our legal disclaimer: http://inflation.us/legaldisclaimer.html
Tuesday, July 27, 2010
Monday, July 26, 2010
The Ultimate Bubble
Government and the media do not love high gold prices. But they do love inflation.
Thursday, July 22, 2010
Wednesday, July 21, 2010
Federal Reserve ready to step in if economy falters again, Bernanke says
Should read: Federal Reserve ready to completely destroy our currency if economy falters again, Bernanke says. Be afraid.
Tuesday, July 20, 2010
Australian Dollar Falls From Two-Month High on View Rates to Stay on Hold
Helicopter Ben at it again.
Monday, July 19, 2010
Friday, July 16, 2010
U.S. July consumer sentiment plummets
The Private sector understands but the government does not understand. STOP SPENDING!!
Wednesday, July 14, 2010
The 15 States With The Most Underwater Mortgages
States where the housing recovery is in going great.
10 Stupid Ways That Smart People Waste Money
I think that emotion always plays a big role. We get so excited about stuff and then never use it. Read the article here.
G.M. to Guarantee Battery in Its Electric Car
Shouldn't this article read the US Government is going to guarantee the battery?
Tuesday, July 13, 2010
U.S. stocks end sharply higher on upbeat earnings
Good albeit I believe temporary news on the stock market.
Finance Overhaul Casts Long Shadow on the Plains
One Unintended Consequence of the financial regulation bill.
US gold ends higher, European debt concerns return
Here is the article. I thought all those european debt fears were overblown?
Monday, July 12, 2010
Anglo American should be broken up, says BoA Merrill
Read the article here.
Mining giant Anglo American should be broken up so its South African business does not drag down other areas, a leading investment bank has recommended.
Mining giant Anglo American should be broken up so its South African business does not drag down other areas, a leading investment bank has recommended.
Friday, July 9, 2010
K-12 Education Subsidies
Fraud in the Low-Income Home Energy Assistance program illustrates the problem with governments being charitable with other people’s money.
The Low-Income Home Energy Assistance program provides $5 billion annually to the states, which distribute the funds to businesses, nonprofits, and homeowners. Unfortunately, the states do a poor job making sure the money isn't lost to fraud and abuse.
See here and here for the articles that detail what happened and the subsequent government investigation.
NASA's Feel Good Mission
http://english.aljazeera.net/programmes/talktojazeera/2010/07/201071122234471970.html
Are we spending $18 billion a year of taxpayer money on NASA simply to generate warm and fuzzy feelings?
Gambling, tennis while on the clock lands HUD employee in jail
Today I am just going to post a couple of articles that illustrate how inefficient the government actually is. This first one shows how we are never careful with someone else's money.
http://www.federaltimes.com/article/20100629/PERSONNEL03/6290305/1001
Would it take seven years for a senior manager at a private company to be fired if he goofed off and didn't go to work?
Thursday, July 8, 2010
Yet Another Student Loan?
http://www.foxbusiness.com/personal-finance/2009/06/08/student-loan/
Though personally I think Dave Ramsey is an idiot when it comes to investing, I think that his advice on getting out of debt and avoiding debt is great advice.
The Macro Trumps All Else
http://www.kitco.com/ind/Kupperman/july082010.html
If you read nothing else, read this article. I discusses truly how volatile things are now and some of the underlying reasons why.
Consumer borrowing down sharply in May
Consumer borrowing falls sharply in May, marking the 15th decline in the past 16 months
Wednesday, July 7, 2010
Better Buy: Gold or Gold Miners?
What is better right now, buying physical gold or owning gold mining stocks? Click here to see what the Motley Fool has to say.
Wells Fargo terminates its consumer loan and subprime mortgage departments, slashes 38,000 jobs
Here is the article, and I could not agree more with this move.
Stocks Rally, The world rejoices.
Tuesday, July 6, 2010
Dow industrials climb 57 to break seven-day slide
http://finance.yahoo.com/news/Dow-industrials-climb-57-to-apf-1296365696.html?x=0&sec=topStories&pos=2&asset=&ccode=
Traders hunting for beaten-down stocks lift stocks; Dow gains 57 points but ends off its high
Traders hunting for beaten-down stocks lift stocks; Dow gains 57 points but ends off its high
USDA: Corn, soybean conditions dip slightly
http://www.agriculture.com/ag/story.jhtml?storyid=/templatedata/ag/story/data/1278452408576.xml
Forecast has some farmers worried; numbers just what the market expected
Forecast has some farmers worried; numbers just what the market expected
Now loans are for sale at Sam's Club
http://www.marketwatch.com/story/sams-club-takes-on-credit-crunch-offering-loans-2010-07-06
Commentary: Wal-Mart unit to offer Main Street businesses a lifeline
Commentary: Wal-Mart unit to offer Main Street businesses a lifeline
China Makes Haste Slowly Globalizing the Yuan
http://www.foxbusiness.com/story/markets/industries/government/china-makes-haste-slowly-globalizing-yuan/
WRAPUP 3-Australia govt under new mine tax revenue attack
http://af.reuters.com/article/metalsNews/idAFSGE66509K20100706?pageNumber=2&virtualBrandChannel=0&sp=true
I love that the idiot at Deloitte said that the tax would remove uncertainty and boost investment. Guess what would boost investment even more and reduce uncertainty even more? Not doing the damn tax and putting a cap on it where it is at, or even better, reducing the tax.
I love that the idiot at Deloitte said that the tax would remove uncertainty and boost investment. Guess what would boost investment even more and reduce uncertainty even more? Not doing the damn tax and putting a cap on it where it is at, or even better, reducing the tax.
Monday, July 5, 2010
UPDATE 1-Rio Tinto says Australia tax among world's highest
http://af.reuters.com/article/metalsNews/idAFSGE66501H20100706?sp=true
Ex-IMF Economist Rogoff Gloomy on China Property
http://abcnews.go.com/Business/wireStory?id=11093231
Hidden losses may threaten EU stress tests
http://www.todayonline.com/Business/EDC100706-0000150/Hidden-losses-may-threaten-EU-stress-tests
China Bashing Over Yuan Needs a Long Rest: Ronald I. McKinnon
http://www.businessweek.com/news/2010-07-05/china-bashing-over-yuan-needs-a-long-rest-ronald-i-mckinnon.html
Oil falls below $72 in Asia on fears of slowing economy
http://beta.profit.ndtv.com/news/show/oil-falls-below-72-in-asia-on-fears-of-slowing-economy-80917
Friday, July 2, 2010
ALL BUSINESS: What to watch ahead of a GM IPO
http://finance.yahoo.com/news/ALL-BUSINESS-What-to-watch-apf-2724272066.html?x=0&sec=topStories&pos=8&asset=&ccode=
ALL BUSINESS: GM's turnaround under way, but that doesn't mean its ready for an IPO
ALL BUSINESS: GM's turnaround under way, but that doesn't mean its ready for an IPO
Entrepreneurship Helps Make America Great
http://reason.com/archives/2010/07/01/entrepreneurship-helps-make-am
Free enterprise matters
Free enterprise matters
Gold Prices Squeeze Out Gains
http://www.thestreet.com/story/10798146/1/gold-prices-squeeze-out-gains.html
Mixed June jobs data point to slow economic recovery
Read more: http://www.miamiherald.com/2010/07/02/1712884/mixed-june-jobs-data-point-to.html#ixzz0sZEroCL2
Thursday, July 1, 2010
BP spill may lead to higher oil prices: analysts
http://www.marketwatch.com/story/bp-spill-may-lead-to-higher-oil-prices-2010-07-01?dist=afterbell
Costly new regulations could squeeze company resources
Costly new regulations could squeeze company resources
GE Distances Itself From CEO's Reported Comments
http://online.wsj.com/article/SB10001424052748703571704575341051097221886.html?mod=WSJ_business_whatsNews
Pelosi: Unemployment Checks Fastest Way to Create Jobs
http://www.foxnews.com/politics/2010/07/01/pelosi-unemployment-checks-best-way-create-jobs/
This logic is so stupid it needs no introduction
This logic is so stupid it needs no introduction
U.S. Stocks Decline After Reports on Manufacturing, Home Sales
http://www.bloomberg.com/news/2010-07-01/stock-index-futures-drop-on-signs-global-economic-recovery-may-be-stalling.html
Gold Prices Plummeting on Thin Volume
http://www.thestreet.com/story/10796974/1/gold-prices-plummeting-on-thin-volume.html
Wednesday, June 30, 2010
Oil Falters Despite Inventory Decline As Recovery Fears Remain
http://www.rttnews.com/Content/Commodities.aspx?Id=1348271&SM=1
UPDATE 1-Moody's puts Spain Aaa rating on review for cut
http://www.reuters.com/article/idUSN3024242220100630
Stocks Fizzle Into June's End
http://www.forbes.com/2010/06/30/private-payrolls-jobs-unemployment-ford-boeing-apple-bp-markets-economy-briefing.html?boxes=businesschannelsections
The private sector added just 13,000 U.S. jobs in June, far fewer than expected.
The private sector added just 13,000 U.S. jobs in June, far fewer than expected.
Hambro to Run BlackRock’s First U.S. Gold Mutual Fund
http://www.businessweek.com/news/2010-06-30/hambro-to-run-blackrock-s-first-u-s-gold-mutual-fund.html
Tuesday, June 29, 2010
House approves homebuyer tax credit extension
http://money.cnn.com/2010/06/29/news/economy/homebuyer_tax_credit/
How are we going to pay for this?
How are we going to pay for this?
11 ways to graduate with less debt
http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/11-ways-to-graduate-with-less-debt.aspx
The Next Crisis: Public Pension Funds
http://www.nytimes.com/2010/06/27/magazine/27fob-wwln-t.html?partner=rss&emc=rss
These need to be completely cut. No bailouts for unions.
These need to be completely cut. No bailouts for unions.
Fear Returns for Quarter's Final Act
http://online.wsj.com/article/SB10001424052748704103904575336431436202148.html?mod=WSJ_hpp_LEFTTopStories
Dow Falls 268.22 to Slide Under 10000, on Pace for First Quarterly Decline Since Bull Market Began
Dow Falls 268.22 to Slide Under 10000, on Pace for First Quarterly Decline Since Bull Market Began
Gold Prices Rise Slightly, Silver Falls
http://www.coinnews.net/2010/06/29/gold-prices-rise-slightly-silver-falls/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinNewsnet+%28CoinNews.net%27s+Numismatic+News%29
Monday, June 28, 2010
Choppy Markets End in Stalemate
http://www.foxbusiness.com/story/markets/stocks-struggle-rebound-open/
African markets offer opportunities for the smart investor
http://www.marketwatch.com/story/opportunities-abound-in-african-markets-2010-06-28?dist=afterbell
Young population, growth rates and reforms are attractive, but risks remain
Young population, growth rates and reforms are attractive, but risks remain
Interest rates fall again on investor pessimism
http://finance.yahoo.com/news/Interest-rates-fall-again-on-apf-8152078.html?x=0&sec=topStories&pos=main&asset=&ccode=
Interest rates keep falling as investor view of economy dims further; stocks edge lower
Interest rates keep falling as investor view of economy dims further; stocks edge lower
Silver Posting Best Streak Since Hunts No Matter Which Way Economy Turns
http://www.resourceintelligence.net/silver-posting-best-streak-since-hunts-no-matter-which-way-economy-turns/10069
Investors giddy for Tesla Motors IPO
http://money.cnn.com/2010/06/28/technology/tesla_ipo/
I am not as excited as the rest, but it could be good.
I am not as excited as the rest, but it could be good.
Sunday, June 27, 2010
Family Reunion
I did not post over the weekend because I was at a family reunion with the wife. I had a great time going up Bryce Canyon and comparing my father in laws home town to a third world country. The best part about it was definitely being able to spend some quality time with my wife, who is truly my best friend. I will start up again on Monday. I hope everyone had a great weekend.
Thursday, June 24, 2010
Louisiana's unified voice against drilling ban
http://www.marketwatch.com/story/louisianas-unified-voice-against-drilling-ban-2010-06-24
State's biggest industry gets support from all corners, including fishermen
State's biggest industry gets support from all corners, including fishermen
Gold Rises on Bets Fed's Interest-Rate Outlook Will Lead to Weaken Dollar
http://www.bloomberg.com/news/2010-06-24/gold-rises-on-bets-fed-s-interest-rate-outlook-will-lead-to-weaken-dollar.html
China stocks now offer appetizing entry point, say analysts
http://www.marketwatch.com/story/china-stocks-offer-value-entry-point-analysts-2010-06-22
Retailers, banks pull stocks lower; Dow slides 146
http://finance.yahoo.com/news/Retailers-banks-pull-stocks-apf-391894174.html?x=0&sec=topStories&pos=1&asset=&ccode=
Stocks drop following downbeat forecasts from retailers; Traders eye costs of bank regulation
Stocks drop following downbeat forecasts from retailers; Traders eye costs of bank regulation
Merkel Rejects Obama's Call to Spend
http://online.wsj.com/article/SB10001424052748703900004575324941614808602.html?mod=mktw
German chancellor rebuffs pressure to boost domestic demand, not exports; warns Europe's crisis is far from over
German chancellor rebuffs pressure to boost domestic demand, not exports; warns Europe's crisis is far from over
Wednesday, June 23, 2010
The Next Silver Bull: Industrial Demand To Drive Prices In Coming Years
http://www.thestreet.com/newsanalysis/metals-and-mining/10790824.html
Confidence Waning in Obama, U.S. Outlook
http://online.wsj.com/article/SB10001424052748703900004575325263274951230.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop
Oil futures settle lower on supply glut, weaker housing, Fed
http://www.marketwatch.com/story/oil-prices-fall-on-weekly-buildups-in-supplies-2010-06-23?dist=beforebell
Yuan Trades Near Highest Since 1993 as Stronger Euro Boosts Export Outlook
http://www.bloomberg.com/news/2010-06-24/yuan-trades-near-1993-high-as-euro-gains-boost-outlook-for-china-s-exports.html
Tuesday, June 22, 2010
Cash Crops: Buying Farmland for Income
http://online.wsj.com/article/SB10001424052748703650604575313343743649622.html?mod=WSJ_PersonalFinance_PF4
Stocks slide on new concerns about housing, banks
http://finance.yahoo.com/news/Stocks-slide-on-new-concerns-apf-3981291538.html?x=0&sec=topStories&pos=4&asset=&ccode=
Stocks fall on housing fears; oil shares drop as gov't plans to appeal ruling on drilling ban
Stocks fall on housing fears; oil shares drop as gov't plans to appeal ruling on drilling ban
It's Time America Had a Fat President
http://www.cato.org/pub_display.php?pub_id=11912
I love the quotes from President Taft: "the president cannot make clouds to rain, cannot make the corn to grow"
I love the quotes from President Taft: "the president cannot make clouds to rain, cannot make the corn to grow"
Loonie and Aussie dollar gaining reserve currency status
http://www.financialpost.com/news/Loonie+Aussie+dollar+gaining+reserve+status/3185503/story.html
Judge lifts offshore drilling ban as `overbearing'
http://www.google.com/hostednews/ap/article/ALeqM5gIXWYBTpLtSayJtg41LKXpxSxVPAD9GGLCS01
Monday, June 21, 2010
NY state poised to assess nation's cigarette tax
http://www.reuters.com/article/idUSN2126757620100621
Cash-hungry New York state on Monday was poised to enact the highest cigarette tax in the nation, boosting its levy by $1.60 a pack to $4.35.
My opinion: No matter how much money the government gets, it will always find ways to spend it. You have to cut spending, not just raise taxes.
Cash-hungry New York state on Monday was poised to enact the highest cigarette tax in the nation, boosting its levy by $1.60 a pack to $4.35.
My opinion: No matter how much money the government gets, it will always find ways to spend it. You have to cut spending, not just raise taxes.
What The Yuan's Rise Means For U.S. Debt
http://www.forbes.com/2010/06/21/china-treasury-yuan-debt-markets-bonds.html?boxes=marketschannelnews
Sundance Plane Wreckage Found in Congo; No Survivors
http://www.businessweek.com/news/2010-06-21/sundance-plane-wreckage-found-in-congo-no-survivors-update3-.html
Six Australian, two British, one American and two French citizens were on the twin turboprop Casa C212 plane, chartered by Perth-based Sundance.
The Sundance personnel, including Chairman Geoff Wedlock, Chief Executive Officer Don Lewis, company secretary John Carr- Gregg and non-executive directors John Jones and Craig Oliver, were in Africa visiting members of the governments of Cameroon and Congo and the Mbalam project.
Six Australian, two British, one American and two French citizens were on the twin turboprop Casa C212 plane, chartered by Perth-based Sundance.
The Sundance personnel, including Chairman Geoff Wedlock, Chief Executive Officer Don Lewis, company secretary John Carr- Gregg and non-executive directors John Jones and Craig Oliver, were in Africa visiting members of the governments of Cameroon and Congo and the Mbalam project.
P.M. Kitco Metals Roundup: Comex Gold Sells Off After New High Scored Early; U.S. Dollar Firms, Crude Oil Weakens Late
http://www.kitco.com/reports/KitcoNewsJune212010_pm.html
Real Reform, But Not in America
http://stossel.blogs.foxbusiness.com/2010/06/17/real-reform-but-not-in-america/
This is what Hungary is doing to deal with its economic crisis. Seems really, really, really good. (no sarcasm)
15% cut in public salaries
16% flat tax rate
Freeze on many other sectors in government spending
This is what Hungary is doing to deal with its economic crisis. Seems really, really, really good. (no sarcasm)
15% cut in public salaries
16% flat tax rate
Freeze on many other sectors in government spending
Saturday, June 19, 2010
GoldWatch: Why Many Respected Analysts See Gold Going Up to $10,000
http://www.kitco.com/ind/Wilson/jun162010.html
In budget crisis, states take aim at pensions
http://www.msnbc.msn.com/id/37798908/ns/us_news-the_new_york_times/
NYT: Some are cutting once-sacrosanct benefits to deal with deficits
I should have been a government worker. I get a pension, do not have to pay anything for healthcare, and can pretty much never be fired.
NYT: Some are cutting once-sacrosanct benefits to deal with deficits
I should have been a government worker. I get a pension, do not have to pay anything for healthcare, and can pretty much never be fired.
Fannie and Freddie tab is $146B and rising
http://www.stltoday.com/stltoday/news/stories.nsf/nation/story/E744C01438F6DB698625774700815937?OpenDocument
Euro crisis will not impact equity investments in India
http://economictimes.indiatimes.com/features/financial-times/Euro-crisis-will-not-impact-equity-investments-in-India/articleshow/6068915.cms
Reno, Nev. bank is 83rd to fail in U.S. in 2010
http://www.marketwatch.com/story/reno-nev-bank-is-83rd-to-fail-in-2010-2010-06-19?reflink=MW_news_stmp
Friday, June 18, 2010
Freedom and Exchange in Communist Cuba
http://www.cato.org/pub_display.php?pub_id=11897
Fidel Castro's socialist revolution promised to satisfy the basic needs of the Cuban people, but the price demanded was the surrender of freedoms. The unthinking enthusiasm that greeted the beginning of the revolution helped pave the way for the disappearance of civil, political, and economic rights within a short period of time. Instead of a brighter future, misery in Cuba is widespread and the individual is vilified.
Fidel Castro's socialist revolution promised to satisfy the basic needs of the Cuban people, but the price demanded was the surrender of freedoms. The unthinking enthusiasm that greeted the beginning of the revolution helped pave the way for the disappearance of civil, political, and economic rights within a short period of time. Instead of a brighter future, misery in Cuba is widespread and the individual is vilified.
Week Ahead: Earnings, Fed Meeting In Focus
http://www.foxbusiness.com/story/markets/week-ahead-earnings-fed-meeting-focus/
OIL FUTURES: Crude Posts Slim Rise As Products Rally Falters
http://online.wsj.com/article/BT-CO-20100618-708747.html?mod=WSJ_latestheadlines
FOREX-Euro nudges 3-week highs, dollar on backfoot
http://www.reuters.com/article/idUSTOE65H04B20100618
Euro retains gains as concerns about euro zone debt ease
* Strong response to Spanish auctions supports high-yielders
* Dollar index vulnerable on the charts, soft vs Swissie
Euro retains gains as concerns about euro zone debt ease
* Strong response to Spanish auctions supports high-yielders
* Dollar index vulnerable on the charts, soft vs Swissie
Gold closes at record high as stocks continue rally
http://www.statesman.com/business/gold-closes-at-record-high-as-stocks-continue-756691.html
Thursday, June 17, 2010
U.S. stocks end higher after late turnaround
http://www.marketwatch.com/story/stocks-open-mixed-after-downbeat-jobs-report-2010-06-17?dist=afterbell
Daily Pfennig 6/17/10: The Big Dog Gets Off the Porch!
http://www.kitco.com/ind/Butler/jun172010.html
A Pfennig For Your Thoughts
In This Issue….
* Good Spanish auction fuels a euro rally...
* SNB leaves out important words...
* Deflation disappears in Switzerland...
* U.S. Housing Starts drop -10%!
A Pfennig For Your Thoughts
In This Issue….
* Good Spanish auction fuels a euro rally...
* SNB leaves out important words...
* Deflation disappears in Switzerland...
* U.S. Housing Starts drop -10%!
Rising Tab for the Mortgage Mess
http://www.businessweek.com/magazine/content/10_26/b4184050343408.htm
The bailout of Fannie and Freddie could reach $1 trillion
The bailout of Fannie and Freddie could reach $1 trillion
Fresh economic worries trigger another gold surge
http://www.dailytimes.com.pk/default.asp?page=2010\06\18\story_18-6-2010_pg5_29
Experts Talk CPI, Jobless Claims, Fed's Next Move
http://www.businessweek.com/investor/content/jun2010/pi20100617_988540.htm
Wednesday, June 16, 2010
Update: Fannie, Freddie Delisting Signals Firms Have No Value
http://online.wsj.com/article/BT-CO-20100616-712880.html?mod=WSJ_latestheadlines
They are worth nothing....
They are worth nothing....
Stocks close flat after BP escrow announcement
http://www.msnbc.msn.com/id/37726765/ns/business-stocks_and_economy/
Company will spend $20 billion, announces it is suspending dividend
Company will spend $20 billion, announces it is suspending dividend
Crude prices rise again, gas pump prices up
http://finance.yahoo.com/news/Crude-prices-rise-again-gas-apf-3037678190.html?x=0&sec=topStories&pos=8&asset=&ccode=
WAR ISN'T THIS CENTURY'S BIGGEST KILLER
http://www.hawaii.edu/powerkills/WSJ.ART.HTM
This is why the founding fathers founded our country the way that it is. Too much power leads to death. Always. No exceptions except Jesus.
This is why the founding fathers founded our country the way that it is. Too much power leads to death. Always. No exceptions except Jesus.
Tuesday, June 15, 2010
What Obama won't tell you tonight
http://www.marketwatch.com/story/what-obama-wont-tell-you-tonight-2010-06-15?pagenumber=2
Commentary: Five things you need to know about the Gulf response
Commentary: Five things you need to know about the Gulf response
GLOBAL MARKETS-Euro, stocks rally on demand for European debt
http://www.reuters.com/article/idUSN1510115520100615
Spain, Ireland, Belgium have solid debt sales
If the jump today was based on this, it will all go away sooner than later.
Spain, Ireland, Belgium have solid debt sales
If the jump today was based on this, it will all go away sooner than later.
Gold Prices Climb, Silver and Platinum Advance
http://www.coinnews.net/2010/06/15/gold-prices-climb-silver-and-platinum-advance/
Swiss parliament approves US tax deal on 2nd try
http://finance.yahoo.com/news/Swiss-parliament-approves-US-apf-3641262374.html?x=0&sec=topStories&pos=5&asset=&ccode=
I hate this.
I hate this.
Monday, June 14, 2010
The housing-market recession is not over
http://www.marketwatch.com/story/the-housing-market-recession-is-not-over-2010-06-09
Why you shouldn't be overly optimistic about real estate right now
Why you shouldn't be overly optimistic about real estate right now
Japan Shares Fall After Three-session Climb
http://www.foxbusiness.com/story/markets/industries/health-care/japan-shares-fall-session-climb/
Stocks falter in last hour; trader anxiety sets in
http://finance.yahoo.com/news/Stocks-falter-in-last-hour-apf-2463073912.html?x=0&sec=topStories&pos=1&asset=&ccode=
Stocks falter, giving market a mixed close, as traders give in to final-hour anxiety
Stocks falter, giving market a mixed close, as traders give in to final-hour anxiety
GLOBAL MARKETS-Greek debt downgrade bites into stocks' rally
http://www.reuters.com/article/idAFN1421181220100614?rpc=44
Sunday, June 13, 2010
Silver could hit $21/oz on industrial recovery-GFMS
http://www.sharenet.co.za/v3/news_disp.php?id=394792
Hong Kong's Hang Seng Index regains 20,000
http://www.marketwatch.com/story/hong-kongs-hang-seng-index-regains-20000-2010-06-13
Buffett Predicts the Next Crisis
http://www.fool.com/investing/dividends-income/2010/06/10/buffett-predicts-the-next-crisis.aspx?source=ihpsitth0000001
If the bond market pops, get ready for all hell to break loose.
If the bond market pops, get ready for all hell to break loose.
Currency Collapse May Stimulate Economic Expansion, BIS Says
http://www.businessweek.com/news/2010-06-13/currency-collapse-may-stimulate-economic-expansion-bis-says.html
Currency collapse are good for the economy, dont you know that!!!!
Currency collapse are good for the economy, dont you know that!!!!
ECB's Orphanides: Inflation Not a Concern: Report
http://abcnews.go.com/Business/wireStory?id=10902192
Of course inflation is not a concern to central bankers, when has it been?
Of course inflation is not a concern to central bankers, when has it been?
Saturday, June 12, 2010
Markets exaggerating euro zone risks: ECB policymakers
http://www.reuters.com/article/idUSTRE65A2HW20100611
If a central banker is telling you something, believe the opposite. So most likely we are underestimating the euro zone risks.
If a central banker is telling you something, believe the opposite. So most likely we are underestimating the euro zone risks.
Spain Says Has Not, Will Not Ask EU for Aid
http://www.foxbusiness.com/story/markets/economy/update--spain-says-make-eu-aid-request-11877670/
4.46 million shares of Nu Skin sold for $114 million
http://www.deseretnews.com/article/700039356/446-million-shares-of-Nu-Skin-sold-for-114-million.html
Oil rig missed inspections, records show
http://www.latimes.com/news/nationworld/nation/la-na-oil-spill-20100612,0,907235.story
The regulators were probably really busy looking at pornography like their fellow regulators of the financial sector.
The regulators were probably really busy looking at pornography like their fellow regulators of the financial sector.
Chinese Wages, Currency Value May Increase, Bergsten Says
http://www.businessweek.com/news/2010-06-10/chinese-wages-currency-value-may-increase-bergsten-says.html
Platinum: How you can invest in it and its prospects
http://economictimes.indiatimes.com/features/the-sunday-et/money--you/Platinum-How-you-can-invest-in-it-and-its-prospects/articleshow/6042264.cms
Gold Will Continue to Shine
http://www.smartmoney.com/investing/economy/gold-will-continue-to-shine/
Consumers Tighten Belts
http://online.wsj.com/article/SB10001424052748703509404575300380133852708.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Surprise Drop in Spending Adds to Doubts About the Recovery's Strength
Surprise Drop in Spending Adds to Doubts About the Recovery's Strength
Foreign investment in China up 27 percent in May
http://finance.yahoo.com/news/Foreign-investment-in-China-apf-320977255.html?x=0&sec=topStories&pos=5&asset=&ccode=
Foreign investment in China rises 27 percent in May to more than $8 billion
Foreign investment in China rises 27 percent in May to more than $8 billion
Friday, June 11, 2010
Late Turnaround Lifts Stocks
http://online.wsj.com/article/SB10001424052748703509404575300210842004080.html?mod=WSJ_Markets_LEFTTopNews
Morgan Stanley Disses Australia: Forget The Latest Cheer, The Consumer Is Breaking And The Dollar Will Tank
http://www.businessinsider.com/australian-dollar-short-weakening-australian-consumer-2010-6
Chaos, Anarchy To Reign If Paterson Shuts Down NY
http://wcbstv.com/politics/nys.goverment.shutdown.2.1745114.html
Shutdown Would Mean Closing Of State Parks, DMV, Courts, N.Y. Lottery
I wonder what would happen if the government actually shutdown and then no one noticed, could we just keep it shut down?
Shutdown Would Mean Closing Of State Parks, DMV, Courts, N.Y. Lottery
I wonder what would happen if the government actually shutdown and then no one noticed, could we just keep it shut down?
Nations have reached a “Keynesian endpoint”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2LX1ujFJQTA&pos=7
Finally someone talking some sense, at least a bit of sense.
Finally someone talking some sense, at least a bit of sense.
New law gives N.Y. regulators power to approve health rate hikes
http://ifawebnews.com/2010/06/11/new-law-gives-n-y-regulators-power-to-approve-health-rate-hikes/
This could be the dumbest thing I have ever heard of, but of course, health care is a "right".
This could be the dumbest thing I have ever heard of, but of course, health care is a "right".
Coeur d'Alene reportedly halting Argentina mine
http://www.miningweekly.com/article/coeur-dalene-reportedly-halting-argentina-mine-2010-06-11
Reason.tv: 3 Reasons Why Obama Should Kick His Own Ass
http://reason.com/blog/2010/06/10/reasontv-3-reasons-why-obama-s
Netflix To Buy Back Up To $300 Mln In Shares
http://www.foxbusiness.com/story/markets/industries/entertainment/netflix-buy--mln-shares/
Thursday, June 10, 2010
SA Gold output drops 6,2%
http://www.businessday.co.za/articles/Content.aspx?id=111575
South African Gold production drops.
South African Gold production drops.
Stocks surge on US jobs data, China trade growth
http://finance.yahoo.com/news/Stocks-surge-on-US-jobs-data-apf-1102965448.html?x=0&sec=topStories&pos=main&asset=&ccode=
Our (Largely) Unknown Neighbour
http://blogs.marketwatch.com/canada/2010/06/08/our-largely-unknown-neighbour/
Blog about the economics of Canada.
Blog about the economics of Canada.
Bearish Schultz says hyperinflation may happen suddenly
http://www.marketwatch.com/story/hyperinflation-could-happen-suddenly-2010-06-10
The biggest thing to remember is that hyperinflation is a monetary event, not a economic event. Always remember that it is possible that hyperinflation can happen during a depression, think Weimar Republic during the 1920's and 1930's.
The biggest thing to remember is that hyperinflation is a monetary event, not a economic event. Always remember that it is possible that hyperinflation can happen during a depression, think Weimar Republic during the 1920's and 1930's.
Wednesday, June 9, 2010
Fethullah Gulen's cave of wonders
http://www.atimes.com/atimes/Middle_East/LF09Ak02.html
Interesting article regarding how Turkey is hoping for an Iranian attack on Israel that would catapult itself (Turkey) back to being a much more important part of the middle east. I wonder what this would do the price of oil.....
Interesting article regarding how Turkey is hoping for an Iranian attack on Israel that would catapult itself (Turkey) back to being a much more important part of the middle east. I wonder what this would do the price of oil.....
Targeting most-hated debt first
http://www.msnbc.msn.com/id/37219279/ns/business-personal_finance/
Paying off loathsome obligation can bring emotional relief.
Paying off loathsome obligation can bring emotional relief.
Companies Fear DC's Regulatory Vaporware Will Vaporize Profits
http://emac.blogs.foxbusiness.com/2010/06/09/companies-fear-dcs-regulatory-vaporware-will-vaporize-profits
Spot Gold Prices Fall on Macro Reassurances
http://www.thestreet.com/story/10779465/1/spot-gold-prices-fall-on-macro-reassurances.html?puc=_tscrss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+tsc%2Ffeeds%2Frss%2Fprecious-metals+%28Precious+Metals%29
Mises as Policy Advisor
http://reason.com/blog/2010/03/12/mises-as-policy-advisor
Good Austrian Economics Artile
Good Austrian Economics Artile
Roundtable: Avoid These Stocks Entirely
http://www.fool.com/investing/general/2010/06/08/roundtable-avoid-these-stocks-entirely.aspx?source=ihpsitth0000001
German government rejects aid for GM's Opel
http://finance.yahoo.com/news/German-government-rejects-aid-apf-2294365527.html?x=0&sec=topStories&pos=3&asset=&ccode=
German economy minister rejects federal government aid for GM's Opel unit
Why the hell would they ever give money to a company who sucks so incredibly bad?
German economy minister rejects federal government aid for GM's Opel unit
Why the hell would they ever give money to a company who sucks so incredibly bad?
Mortgage rates continue to drop
http://www.csmonitor.com/Money/Paper-Economy/2010/0609/Mortgage-rates-continue-to-drop
But yet no one is buying houses.
But yet no one is buying houses.
The 'Too Big' Divide on Banks
http://online.wsj.com/article/SB10001424052748703890904575296430874218148.html
How about we just let the free market work? None of these banks would have been able to get how big they were without government bailouts and special help.
How about we just let the free market work? None of these banks would have been able to get how big they were without government bailouts and special help.
Bernanke Says Gold, Commodities Conflict on Inflation
http://www.businessweek.com/news/2010-06-09/bernanke-says-gold-commodities-conflict-on-inflation-update2-.html
Whatever he says, usually the opposite is true.
Whatever he says, usually the opposite is true.
Irish Approach vs. Grecian Formula
http://www.cato.org/pub_display.php?pub_id=11881
What should be done vs. what is being done
What should be done vs. what is being done
Tuesday, June 8, 2010
Swiss lawmakers reject deal with US in UBS tax row
http://finance.yahoo.com/news/Swiss-lawmakers-reject-deal-apf-334047202.html?x=0&sec=topStories&pos=6&asset=&ccode=
Swiss lawmakers block deal with US over UBS tax evasion dispute
Good old USA, can not handle anyone having any money outside of the country. So lets make it illegal for everyone! Oh wait, the Jobs bill already did that.
Swiss lawmakers block deal with US over UBS tax evasion dispute
Good old USA, can not handle anyone having any money outside of the country. So lets make it illegal for everyone! Oh wait, the Jobs bill already did that.
General Motors pulls back on dealership cuts
http://finance.yahoo.com/news/General-Motors-pulls-back-on-apf-3423626881.html?x=0&sec=topStories&pos=main&asset=&ccode=
General Motors eases cuts, expects 900 more dealers than planned by summer
When you are funded by the taxpayers, everything is gravy anyway.
General Motors eases cuts, expects 900 more dealers than planned by summer
When you are funded by the taxpayers, everything is gravy anyway.
McDonald's Still Lovin' It
http://www.forbes.com/2010/06/08/mcdonalds-food-restaurant-markets-equities-sales-consumer.html?boxes=financechannelforbes
The fast-food chain reported a 4.8% gain in May's same-store results.
The fast-food chain reported a 4.8% gain in May's same-store results.
EU ministers back Estonia bid to join euro
http://news.bbc.co.uk/2/hi/business/10264800.stm
Since the euro zone is going so well all should join!
Since the euro zone is going so well all should join!
Brazilian equities, currency higher after GDP jump
http://www.marketwatch.com/story/brazils-gdp-zooms-up-9-stocks-rise-2010-06-08?reflink=MW_news_stmp
US Stocks Build On Gains Late In Session
http://online.wsj.com/article/BT-CO-20100608-712927.html?mod=WSJ_latestheadlines
Gold Eases on Sales After Futures Surge to Record $1,254.50
http://www.businessweek.com/news/2010-06-08/gold-eases-on-sales-after-futures-surge-to-record-1-254-50.html
Bernanke: No Double-Dip Recession
http://www.foxbusiness.com/story/markets/business-leaders/bernanke-double-dip-recession/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxbusiness%2Feconomy+%28Text+-+Markets+-+Economy%29
Based on this news story there will be a double dip recession.
Based on this news story there will be a double dip recession.
$13,050,826,460,886.97
http://www.cato.org/pub_display.php?pub_id=11874
$13,050,826,460,886.97
That's what the National Debt topped this week, a record.
$13,050,826,460,886.97
That's what the National Debt topped this week, a record.
Monday, June 7, 2010
Rockhopper plans placing to raise 40 mln stg- FT
http://www.reuters.com/article/idUSLDE6562GN20100607
Bears Dig in Heels: Dow Falls 115 to 2010 Low
http://www.foxbusiness.com/story/markets/futures-bounce-letdown-friday/
Putting a New Image on the Term 'Cheapskate'
http://www.foxbusiness.com/personal-finance/2010/06/07/putting-new-image-term-cheapskate/
Pep Boys reports 10 percent jump in 1Q earnings
http://finance.yahoo.com/news/Pep-Boys-reports-10-percent-apf-2946938695.html?x=0
Coca-Cola, Dr Pepper Reach Distribution Deal
http://online.wsj.com/article/SB10001424052748703303904575292341015388912.html?mod=WSJ_Markets_section_Deals
Consumer Credit in U.S. Increased $1 Billion in April
http://www.businessweek.com/news/2010-06-07/consumer-credit-in-u-s-increased-1-billion-in-april-update2-.html
This is great news. We spend our money on crap.
This is great news. We spend our money on crap.
Euro keeps falling below $1.20
http://money.cnn.com/2010/06/07/markets/dollar/?postversion=2010060714
The dollar is in worse shape, the world just is not ready to fight that battle yet.
The dollar is in worse shape, the world just is not ready to fight that battle yet.
Summary Box: Meltdown probe subpoenas Goldman
http://www.google.com/hostednews/ap/article/ALeqM5iMzBwGVtiJmFPYR3yCX5Nla6TDzwD9G6MEAO0
Funny how no one is outraged at the role of the government in the economic meltdown.
Funny how no one is outraged at the role of the government in the economic meltdown.
Monday's Analytical Charts for Gold, Silver and Platinum
http://www.kitco.com/reports/template_jimw.htm
Gold ends $2 shy of May record, silver up 5%
http://www.marketwatch.com/story/gold-ends-2-shy-of-may-record-silver-up-5-2010-06-07
Saturday, June 5, 2010
Silver crashes, Gold rises during the week
http://www.newkerala.com/news/fullnews-122074.html
Silver will rebound, but it might go lower before it does.
Silver will rebound, but it might go lower before it does.
Cash-for-gold rip-offs prevalent
http://www.ajc.com/news/cash-for-gold-rip-542666.html?cxtype=rss_business
Never sell your gold to people you send it. Bring it in to a dealer. Rust Coin and Gift is a great one in Provo.
Never sell your gold to people you send it. Bring it in to a dealer. Rust Coin and Gift is a great one in Provo.
8 reasons you spend too much
http://www.msnbc.msn.com/id/37219059/ns/business-personal_finance/
Paying with plastic, buying in bulk can wreck your budget
Paying with plastic, buying in bulk can wreck your budget
Oil turns lower as euro hits new four-year low
http://www.marketwatch.com/story/oil-turns-lower-as-euro-its-new-four-year-low-2010-06-04
FX OUTLOOK-Bearish tone on euro to persist next week
http://www.reuters.com/article/idUSN0411213820100604
* Euro zone woes now beyond Greece, overshadow U.S. data
* Traders flagging $1.18 as key downside euro target
* Focus on ECB rate decision next week
* Euro zone woes now beyond Greece, overshadow U.S. data
* Traders flagging $1.18 as key downside euro target
* Focus on ECB rate decision next week
German businesses could steer the country out of the eurozone
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/04/AR2010060404815.html?hpid=topnews
Better Earnings Go Down Smooth For Krispy Kreme
http://www.forbes.com/2010/06/04/todays-big-gainers-kkd-zqk-rcmt-marketnewsvideo.html
Donut shop doubles year-ago profit, guides higher for fiscal year.
Donut shop doubles year-ago profit, guides higher for fiscal year.
China to Review Agricultural Bank IPO
http://online.wsj.com/article/SB10001424052748704183204575287950425226806.html?mod=WSJ_business_AsiaNewsBucket
Honda Says Strike Over At China Subsidiary, Production Resumes Monday
http://online.wsj.com/article/BT-CO-20100604-712776.html?mod=WSJ_latestheadlines
WalMart to create 500,000 jobs in the next five years
http://www.business-standard.com/india/news/walmart-to-create-500000-jobs-innext-five-years/397204/
Friday, June 4, 2010
Gold Jumps on Euro Slump, “Spanish Flu” Banking Fears, and Poor US Jobs Data
http://www.resourceintelligence.net/gold-jumps-on-euro-slump-spanish-flu-banking-fears-and-poor-us-jobs-data/9666
Gold ticks up on bargain hunting
http://www.reuters.com/article/idUSTRE64R5OH20100531?type=ousivMolt
Baker Hughes expands in Russia through acquisition
https://news.fidelity.com/news/news.jhtml?cat=Corp.MNA&articleid=201006041844RTRSNEWSCOMBINED_N04108848_1&IMG=N
Signs of a Economic Depression
http://www.europac.net/externalframeset.asp?from=home&id=18815&type=browne
Regulators shut banks in Neb., Miss., Ill.
http://finance.yahoo.com/news/Regulators-shut-banks-in-Neb-apf-1155923153.html?x=0&sec=topStories&pos=1&asset=&ccode=
Man, this really does feel like a recovery
Man, this really does feel like a recovery
States Shrink ‘Unaffordable’ Benefits to Bridge $1 Trillion Gap
http://www.businessweek.com/news/2010-06-04/states-shrink-unaffordable-benefits-to-bridge-1-trillion-gap.html
I do not understand how they even get the benefits they get. Not much meaning to the phrase civil servant if you ask me, more like civil kings.
I do not understand how they even get the benefits they get. Not much meaning to the phrase civil servant if you ask me, more like civil kings.
Hungary in ‘Grave’ State, Official Says; Forint Falls
http://www.bloomberg.com/apps/news?pid=20601068&sid=aSDPM6F7K89Q
More good news from Europe
More good news from Europe
Stocks sink on disappointing jobs report
http://www.latimes.com/business/la-fi-stocks-20100605,0,2026766.story
Hiring Recovery Sputters
http://online.wsj.com/article/SB10001424052748704764404575286921361095484.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Dow Below 10000, Euro at Four-Year Low on Jobs Data, Crisis in Hungary
Dow Below 10000, Euro at Four-Year Low on Jobs Data, Crisis in Hungary
Thursday, June 3, 2010
UK Fines JPMorgan Record $49 Million, Warns Other Banks
http://www.foxbusiness.com/story/markets/industries/finance/update--uk-fines-jpmorgan-record--mln-warns-banks/
Australia shares fall as banks, resources slip
http://www.marketwatch.com/story/australia-shares-fall-as-banks-resources-slip-2010-06-03
South African gold coin output jumps 50 percent to 25-year high
http://www.busrep.co.za/index.php?fArticleId=5499216&fSectionId=630&fSetId=662
Top 5 Precious Metals Funds
http://finance.yahoo.com/news/Top-5-Precious-Metals-zacks-3954082594.html;_ylt=A0PDkxyOWAhMGDYAKiG7YWsA;_ylu=X3oDMTFhZnY2YnR1BHBvcwMyBHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA3RvcDVwcmVjaW91cw--?x=0
U.S. stocks end up slightly ahead of jobs report
http://www.marketwatch.com/story/us-stocks-end-up-slightly-ahead-of-jobs-report-2010-06-03?reflink=MW_news_stmp
NYMEX-Crude ends up sharply as inventories drop
http://www.reuters.com/article/idUSN0363813920100603?type=marketsNews
Japan's Kan Vows To Pursue Both Growth, Fiscal Reform
http://online.wsj.com/article/BT-CO-20100603-707070.html?mod=WSJ_World_MIDDLEHeadlinesAsia
Wednesday, June 2, 2010
Yes, You CAN Get Out of Debt
http://finance.yahoo.com/how-to-guide/banking-budgeting/18442
Good advice
Good advice
Fed officials see small uncertainty from Europe
http://finance.yahoo.com/news/Fed-officials-see-small-rb-3864388791.html?x=0
The Fed officials took a five minute break from having their heads shoved up their arse to talk to Reuters.
The Fed officials took a five minute break from having their heads shoved up their arse to talk to Reuters.
Treasury sees options available for AIG repayments
http://finance.yahoo.com/news/Treasury-sees-options-apf-2641035700.html?x=0
One of the top options is for the American Public to grab their ankles, the Treasury has consulted China on this and has agreed this option will be the one that has the most favorable effect.
One of the top options is for the American Public to grab their ankles, the Treasury has consulted China on this and has agreed this option will be the one that has the most favorable effect.
Consumers snap up cars in May, despite fewer deals
http://finance.yahoo.com/news/Consumers-snap-up-cars-in-May-apf-1354955472.html?x=0&sec=topStories&pos=main&asset=&ccode=
I bet none were financed.
I bet none were financed.
US presses economic powers to adopt 'core' financial rules
http://www.google.com/hostednews/afp/article/ALeqM5hQnoEcJjr5M6SZgILhj5KVPsWeXg
Article should have an asterik that says: US refuses to adopt these core financial rules and instead will make sure to print money for any firm that fails.
Article should have an asterik that says: US refuses to adopt these core financial rules and instead will make sure to print money for any firm that fails.
Tax Credit boosts pending home sales, Analysts say it won't last.
http://www.kansascity.com/2010/06/02/1988021/tax-credit-boosts-pending-home.html
It will not last, there is now no incentive to buy a home in a crappy market. But do not worry, the government will do something else to prop prices up soon!
It will not last, there is now no incentive to buy a home in a crappy market. But do not worry, the government will do something else to prop prices up soon!
U.S. Proposes Protections for Airline Passengers
http://online.wsj.com/article/SB10001424052748703561604575282511186581850.html?mod=WSJ_latestheadlines
There are no solutions, just trade offs. If this becomes law it will mean higher airline prices for ALL.
There are no solutions, just trade offs. If this becomes law it will mean higher airline prices for ALL.
Some Central American countries put breaks on mining
http://www.miningweekly.com/article/some-central-american-countries-put-breaks-on-mining-2010-06-02
Goodbye productive economies!
Goodbye productive economies!
Undercover Census Fraud Investigation - New Jersey
http://www.youtube.com/watch?v=9zJ04AWn-5w&feature=player_embedded
Our tax dollars at work!
Our tax dollars at work!
Tuesday, June 1, 2010
Hewlett-Packard to cut 9K jobs in services unit
http://finance.yahoo.com/news/HewlettPackard-to-cut-9K-jobs-apf-2214009414.html?x=0
HP plans to cut 9,000 jobs, take $1 billion in charges as it deepens automation of data hubs
HP plans to cut 9,000 jobs, take $1 billion in charges as it deepens automation of data hubs
Canada raises interest rates
http://finance.yahoo.com/news/Canada-raises-interest-apf-459245508.html?x=0&sec=topStories&pos=6&asset=&ccode=
Canada's becomes first G-7 country to raise interest rates since the global financial crisis
Canada's becomes first G-7 country to raise interest rates since the global financial crisis
Hershey signs tentative labor deal
http://www.businessweek.com/ap/financialnews/D9G2HD8O0.htm
Good old Unions.
Good old Unions.
Euro steadies, yen dips on Japan PM resignation
http://www.reuters.com/article/idUSTRE64K0JX20100602?type=ousivMolt
Employee Compensation in State and Local Governments
http://www.cato.org/pubs/tbb/tbb-59.pdf
So such thing as public servant.
So such thing as public servant.
No, We Don't Need a Teacher Bailout
http://www.cato.org/pub_display.php?pub_id=11852
Could not agree more
Could not agree more
Monday, May 31, 2010
Spending could be European crisis’ next victim
http://www.msnbc.msn.com/id/37436141/ns/business-eye_on_the_economy/
Americans do not want to wake up from this dream economy, but reality will eventually set in, and we will all realize how bad off we really are.
Americans do not want to wake up from this dream economy, but reality will eventually set in, and we will all realize how bad off we really are.
ECB warns of more bank loan losses
https://news.fidelity.com/news/news.jhtml?cat=Top.Investing.RT&articleid=201005310153RTRSNEWSCOMBINED_TRE64R35J_1&IMG=Y
Ok, I will send out invites for the Euro going away party.
Ok, I will send out invites for the Euro going away party.
Shell Adds Shale
http://www.forbes.com/2010/05/28/royal-dutch-shell-adds-shale-assets-marketnewsvideo.html
Royal Dutch Shell is scooping up a privately held gas company.
Royal Dutch Shell is scooping up a privately held gas company.
Dark Horse
http://www.forbes.com/global/2010/0607/companies-cadila-healthcare-india-pankaj-patel-dark-horse.html?boxes=Homepagetoprated
Interesting Indian Pharmaceutical Company.
Interesting Indian Pharmaceutical Company.
It's Time to Cut Our National Budget
http://www.fool.com/investing/general/2010/05/28/its-time-to-cut-our-national-budget.aspx?source=ihpsitota0000001&lidx=2
NO. $H!T.
NO. $H!T.
India's economy grows at fastest pace in 2 years
http://finance.yahoo.com/news/Indias-economy-grows-at-apf-1347952416.html?x=0&sec=topStories&pos=6&asset=&ccode=
Good news for India.
Good news for India.
UPDATE 1-Australians keep shopping, rates still on hold
http://www.iii.co.uk/news/?type=afxnews&articleid=7919387&format=raw&action=article
They just keep shopping, but the article complains that not enough people can get loans for houses, since that worked out so well everyone else ya know?
They just keep shopping, but the article complains that not enough people can get loans for houses, since that worked out so well everyone else ya know?
OIL FUTURES: Crude Rises Despite Spain Downgrade; Trade Muted
http://www.marketwatch.com/story/oil-futures-crude-rises-despite-spain-downgrade-trade-muted-2010-05-31
Euro Declines on Concerns Over Spending Cuts and Bank Losses
http://www.businessweek.com/news/2010-05-31/euro-declines-on-concerns-over-spending-cuts-and-bank-losses.html
"The euro extended its longest monthly drop versus the dollar in 10 years on concerns Europe’s efforts to reduce budget deficits will derail the region’s economies as the credit crisis shakes the banking system."
"The euro extended its longest monthly drop versus the dollar in 10 years on concerns Europe’s efforts to reduce budget deficits will derail the region’s economies as the credit crisis shakes the banking system."
Fed's Evans says policy easing was not enough
http://www.reuters.com/article/idUSTRE6500D620100601
The genius thinks we should have given the banks more money.
The genius thinks we should have given the banks more money.
Sunday, May 30, 2010
5/25/10 Marc Faber on Bloomberg: Bearish on Everything
http://www.youtube.com/watch?v=aPZ44PLALmU&feature=channel
Marc Faber makes me laugh
Marc Faber makes me laugh
5/24/10 Peter Schiff on CNBC: Is U.S. the Next Greece or Japan?
http://www.youtube.com/watch?v=z-MwSKLxYow&feature=channel
Rio’s Chief Says Mining Tax Puts Half Its Balance Sheet at Risk
http://www.bloomberg.com/apps/news?pid=20601087&sid=afLxcXDqDxHg&pos=5
Miners do not have to mine, and Australians will learn that soon enough if this legislation is passed.
Miners do not have to mine, and Australians will learn that soon enough if this legislation is passed.
Uncertainty Reigns Supreme
http://www.europac.net/externalframeset.asp?from=home&id=18788&type=browne
No wonder there is so much volatility in the markets.
No wonder there is so much volatility in the markets.
Diet drugs Alli and Xenical may cause liver failure
http://www.walletpop.com/blog/2010/05/29/diet-drugs-alli-and-xenical-may-cause-liver-failure/
Bad news for the makers of these drugs.
Bad news for the makers of these drugs.
Buffett's a Dividend Investor, Why Aren't You?
http://www.fool.com/investing/dividends-income/2010/05/27/buffetts-a-dividend-investor-why-arent-you.aspx?source=ihpsitas0000001&lidx=4
I think investing in companies that pay dividends is the way to go, mostly because I think these companies are actually paying attention to the people who are investing in them.
I think investing in companies that pay dividends is the way to go, mostly because I think these companies are actually paying attention to the people who are investing in them.
U.K. Budget Cuts Will Target Welfare
http://online.wsj.com/article/SB10001424052748704032704575268640259483012.html
Interesting article on the unintended consequences of the welfare state that no one wants to talk about.
Interesting article on the unintended consequences of the welfare state that no one wants to talk about.
Warning: Crash dead ahead. Sell. Get liquid. Now.
http://www.marketwatch.com/story/crash-is-dead-ahead-sell-get-liquid-now-2010-05-25?pagenumber=2
Wow, he is more pessimistic than I am and I do not agree with him on everything, but this article is pretty decent IMHO.
Wow, he is more pessimistic than I am and I do not agree with him on everything, but this article is pretty decent IMHO.
Poll finds debt-dogged Americans stressed out
http://finance.yahoo.com/news/Poll-finds-debtdogged-apf-3179586089.html?x=0&sec=topStories&pos=1&asset=&ccode=
It sure does not stress the government out.
It sure does not stress the government out.
Japan Manufacturing Rises
http://online.wsj.com/article/SB10001424052748703703704575277243392410822.html
New York Senator Proposes Tax to Bring Jobs
http://www.keyc.com/node/37899
Good intentions, bad results. The companies can just outsource everything so they are exempt from this.
Good intentions, bad results. The companies can just outsource everything so they are exempt from this.
Saturday, May 29, 2010
History might not repeat itself, but it sure does rhyme.
"The budget should be balanced,
the Treasury should be refilled,
public debt should be reduced,
the arrogance of officialdom should be tempered and controlled,
and the assistance to foreign lands should be curtailed lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance."
- Cicero, 55 BC
the Treasury should be refilled,
public debt should be reduced,
the arrogance of officialdom should be tempered and controlled,
and the assistance to foreign lands should be curtailed lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance."
- Cicero, 55 BC
Berkshire confirms Buffett subpoenaed to testify
http://www.reuters.com/article/idUSTRE64R4I720100528
Buffett has to testify on what caused the 2008 financial crisis in front of a government commission that does not even disclose its own finances. He is testifying in regards to how government bond ratings agencies contributed to the crisis.
How about how government created the crisis and are now making it worse? I hope he has the stones to tell these idiots that.
Buffett has to testify on what caused the 2008 financial crisis in front of a government commission that does not even disclose its own finances. He is testifying in regards to how government bond ratings agencies contributed to the crisis.
How about how government created the crisis and are now making it worse? I hope he has the stones to tell these idiots that.
May's Big Selloff Could Be Just the Beginning
http://online.wsj.com/article/SB127517060464598905.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsThird
"Are you ready for a lot more turmoil?
You had better be -- because there's a good chance that's what you're going to get.
Nobody knows for certain, of course. All stock-market predictions need to be taken with a little salt. But there are reasons to suspect that the sudden plunges of the past few weeks may be unhappy omens of what's to come."
"Are you ready for a lot more turmoil?
You had better be -- because there's a good chance that's what you're going to get.
Nobody knows for certain, of course. All stock-market predictions need to be taken with a little salt. But there are reasons to suspect that the sudden plunges of the past few weeks may be unhappy omens of what's to come."
Gold and Silver Insurance
http://www.kitco.com/ind/Ruff/ruff_may242010.html
Good advice for the balanced investor
Good advice for the balanced investor
Jaguar-Land Rover to begin assembling cars in China
http://www.reuters.com/article/idUSLDE64R1RY20100528
More Manufacturing jobs for China.
More Manufacturing jobs for China.
Threat Level Privacy, Crime and Security Online Previous post Next post NSA Shields Government Networks With More AT&T Secret Rooms Read More http:/
http://www.wired.com/threatlevel/2009/07/einstein/
Do I think the government is monitoring me? No. Do I think they have the right to monitor me? No. Do they have the power to? Yes, without a warrant. Thank you National Security.
"The Obama administration has decided to proceed with a classified Bush administration plan to let the NSA monitor traffic going to and from government civilian networks to protect the networks from malicious code and activity, according to a Washington Post story on Friday.
Given the NSA’s involvement in the Bush administration’s warrantless eavesdropping program, critics are concerned that the monitoring of government traffic on private-sector telecommunication networks that are used by the general public would allow the agency to once again spy on large swaths of non-government traffic without a warrant."
Do I think the government is monitoring me? No. Do I think they have the right to monitor me? No. Do they have the power to? Yes, without a warrant. Thank you National Security.
"The Obama administration has decided to proceed with a classified Bush administration plan to let the NSA monitor traffic going to and from government civilian networks to protect the networks from malicious code and activity, according to a Washington Post story on Friday.
Given the NSA’s involvement in the Bush administration’s warrantless eavesdropping program, critics are concerned that the monitoring of government traffic on private-sector telecommunication networks that are used by the general public would allow the agency to once again spy on large swaths of non-government traffic without a warrant."
Share | AllPennyStocks.com Announces Corporate Write-Up on Nitro Petroleum Inc. (OTCBB:NTRO)
http://www.baystreet.ca/users/newswire/viewarticle.aspx?id=362637
Interesting oil company. No, its not BP.
Interesting oil company. No, its not BP.
The Arithmetic Adds Up to a Greek Restructuring
http://online.wsj.com/article/SB10001424052748704269204575270542452965672.html?mod=WSJ_latestheadlines
This needs to happen, it probably will not, but it needs to.
This needs to happen, it probably will not, but it needs to.
U.S. stocks fall, end May with 8% loss
http://www.marketwatch.com/story/us-stocks-fall-end-may-with-8-loss-2010-05-29?reflink=MW_news_stmp
There will be another stimulus. Write it down.
There will be another stimulus. Write it down.
Why Are We Wasting Money on the Financial Crisis Commission?
http://www.theatlantic.com/business/archive/2010/05/why-are-we-wasting-money-on-the-financial-crisis-commission/57387/
While I do not want the government bailing anyone out (as the author suggests) it is interesting to note that this group that is trying to enforce transparency on wall street, refuses to disclose its own books. Thank you government, for wasting money and not being accountable.
While I do not want the government bailing anyone out (as the author suggests) it is interesting to note that this group that is trying to enforce transparency on wall street, refuses to disclose its own books. Thank you government, for wasting money and not being accountable.
Bank of Florida’s Lenders Closed as Bank Failures Climb to 78
http://www.businessweek.com/news/2010-05-29/bank-of-florida-s-lenders-closed-as-bank-failures-climb-to-78.html
Recovery is imminent
Recovery is imminent
Friday, May 28, 2010
Chris Christie vs. Teachers Unions
http://www.youtube.com/watch?v=yuri7p_9pm4&feature=aso
The end is classic: "And that is why the union has no credibility, stupid statements like that"
Chris Christie 1, Rita Wilson -111
By the way, she makes 86k a year, and that is not counting health benefits or pension plans. I feel really really really bad for her.
The end is classic: "And that is why the union has no credibility, stupid statements like that"
Chris Christie 1, Rita Wilson -111
By the way, she makes 86k a year, and that is not counting health benefits or pension plans. I feel really really really bad for her.
Geithner tells Europe: emulate China
http://www.smh.com.au/business/world-business/geithner-tells-europe-emulate-china-20100528-wiam.html
Hey Geithner, how about you start implementing policies that would make the USA more like China (at least economically) and stop worrying about Europe, if it was not for their problems, the whole world would know how screwed the USA is going to be. But hey you are the genius, not me.
Hey Geithner, how about you start implementing policies that would make the USA more like China (at least economically) and stop worrying about Europe, if it was not for their problems, the whole world would know how screwed the USA is going to be. But hey you are the genius, not me.
China Hints at Shift on Ship-Sinking Stance
http://online.wsj.com/article/SB10001424052748704596504575272152006762206.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond
China is shifting old alliances, little by little, slowly but surely.
China is shifting old alliances, little by little, slowly but surely.
Big Stock Ideas for Big Profit
http://www.fool.com/investing/high-growth/2010/05/28/big-stock-ideas-for-big-profit.aspx?source=ihpsitth0000003
From the article:
I'm going to warn you right away: The type of opportunities I'm about to tell you about may not be for you. They're only for a certain type of investor.
If you're the type of person who prefers to hit for average, click here for some good advice.
From the article:
I'm going to warn you right away: The type of opportunities I'm about to tell you about may not be for you. They're only for a certain type of investor.
If you're the type of person who prefers to hit for average, click here for some good advice.
Jobless aid set to expire despite House approval
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20100528&id=11550374
Please, we can tax our way out of this. Take all my money!
Please, we can tax our way out of this. Take all my money!
U.S. Economy: Spending Pauses as Households Save More
http://www.businessweek.com/news/2010-05-28/u-s-economy-spending-pauses-as-households-save-more-update1-.html
We need more of this, no matter what interest rates are.
We need more of this, no matter what interest rates are.
Spain’s Downgrade Caps a Down Month for Stocks
http://www.nytimes.com/2010/05/29/business/29markets.html?src=mv
Spain before Portugal is about the only thing surprising about this story.
Spain before Portugal is about the only thing surprising about this story.
Sestak says Clinton chat under a minute
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/28/AR2010052802879.html
Good old politics.
Good old politics.
Greek Scramble For Physical Brings Gold Price To $1,700 Per Ounce
http://www.zerohedge.com/article/greek-scramble-physical-brings-gold-price-1700-ounce
Something like this would never happen in Europe, never. It is just fear mongering to say that it could happen there.
Something like this would never happen in Europe, never. It is just fear mongering to say that it could happen there.
Reserve Bank in link to graft and hookers
http://www.news.com.au/business/reserve-bank-in-link-to-graft-and-hookers/story-e6frfm1i-1225870357544
Oh government, how you love your hookers just like everyone else. You just keep pretending that you dont.
Oh government, how you love your hookers just like everyone else. You just keep pretending that you dont.
In real money, British house prices are down by 70%
http://www.moneyweek.com/investments/property/uk-house-prices-in-ounces-of-gold-02110.aspx
Wow.
Wow.
Thursday, May 27, 2010
This week's Mutual Funds and ETF stories
http://www.marketwatch.com/story/bearish-sentiment-is-good-news-for-investors-2010-05-27?siteid=rss#mod=BOL_hpp_BOL2MW
Financials Lead Australia, Korea Up
http://online.wsj.com/article/SB10001424052748704269204575271281126595488.html?mod=WSJ_hpp_sections_markets
Tax Evasion, Corruption, and the European Bailout
http://emac.blogs.foxbusiness.com/2010/05/27/tax-evasion-corruption-and-european-bailout?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogs%2Femac+%28Blogs+-+EMac%27s+Stock+Watch%29
Go Greece Go!
Go Greece Go!
Heinz pours on a 9.8 pct rise in 4Q net income
http://finance.yahoo.com/news/Heinz-pours-on-a-98-pct-rise-apf-3598308020.html?x=0&sec=topStories&pos=5&asset=&ccode=
Spiking sales in emerging markets help Heinz 4Q net income rise 9.8 percent
Spiking sales in emerging markets help Heinz 4Q net income rise 9.8 percent
Senate OKs war funding; House to cut spending bill
http://finance.yahoo.com/news/Senate-OKs-war-funding-House-apf-3890744715.html?x=0&sec=topStories&pos=main&asset=&ccode=
I thought Obama ran on ending these wars?
I thought Obama ran on ending these wars?
Asia Pacific markets
http://www.busrep.co.za/index.php?fArticleId=5487980&fSectionId=630&fSetId=662
Good news for Asia.
Good news for Asia.
Goldman Says Buy Microsoft as Apple Overtakes Stock
http://www.businessweek.com/news/2010-05-27/goldman-says-buy-microsoft-as-apple-overtakes-stock-update2-.html
It did just lose alot of value, so it might be a good short term buy.
It did just lose alot of value, so it might be a good short term buy.
Wednesday, May 26, 2010
Mutual Fund I am looking into...
http://www.ephasiafunds.com/
Euro Pacific Capital, Inc., Halter Financial Investments L.P. and the management team created a registered investment advisor called Euro Pacific Halter Asia Management, Inc. (“EPHAM”). EPHAM is launching the EPH China Fund, a mutual fund based on Peter Schiff’s investment philosophy focused exclusively on investing in China and its Special Administrative Regions. The EPH China Fund is a value-oriented strategy with a long-term focus on financially sound, stable but growing, dividend-paying Chinese companies.
Not making any recommendation, just letting you know I am looking into it.
Euro Pacific Capital, Inc., Halter Financial Investments L.P. and the management team created a registered investment advisor called Euro Pacific Halter Asia Management, Inc. (“EPHAM”). EPHAM is launching the EPH China Fund, a mutual fund based on Peter Schiff’s investment philosophy focused exclusively on investing in China and its Special Administrative Regions. The EPH China Fund is a value-oriented strategy with a long-term focus on financially sound, stable but growing, dividend-paying Chinese companies.
Not making any recommendation, just letting you know I am looking into it.
When Will the Eurozone Collapse?
http://www.cato.org/pub_display.php?pub_id=11838
Written by Václav Klaus, who is the President of the Czech Republic, which refused to be part of the Eurozone, obviously know he looks smart, but boy was he criticized at the time like crazy.
Written by Václav Klaus, who is the President of the Czech Republic, which refused to be part of the Eurozone, obviously know he looks smart, but boy was he criticized at the time like crazy.
Stocks fade late as euro sinks; Dow ends under 10K
http://finance.yahoo.com/news/Stocks-fade-late-as-euro-apf-353744086.html?x=0&sec=topStories&pos=5&asset=&ccode=
This is the best economic "recovery" I have ever been apart of. I do not know why I can not shake the feeling that this is all just a big joke. Oh wait, that is because there is no recovery, just more debt and more government failure.
This is the best economic "recovery" I have ever been apart of. I do not know why I can not shake the feeling that this is all just a big joke. Oh wait, that is because there is no recovery, just more debt and more government failure.
IRS 'Wealth Squads' On The Way
http://www.forbes.com/2010/05/26/irs-wealthy-audits-offshore-hedge-fund-personal-finance-rocen.html?boxes=Homepagechannels
They should call them "IRS CAPITAL HIT SQUADS: DESTROYING PRIVATE CAPITAL" But ti was too long, so they went with "Wealth Squads" instead. Either way what a bunch of pricks.
They should call them "IRS CAPITAL HIT SQUADS: DESTROYING PRIVATE CAPITAL" But ti was too long, so they went with "Wealth Squads" instead. Either way what a bunch of pricks.
Shares of Silvercorp Metals Inc. (SVM) Failed to Break the Resistance Line
http://www.marketintellisearch.com/articles/1017105.html
Article on one of Peter Schiff's Stock Picks from about five months ago.
Article on one of Peter Schiff's Stock Picks from about five months ago.
Japan's Exports Jump 40% In April; Trade Surplus Swells
http://online.wsj.com/article/BT-CO-20100526-717041.html?mod=WSJ_latestheadlines
Tuesday, May 25, 2010
Why Housing is Headed for Second-Half Headaches
http://finance.yahoo.com/news/Why-Housing-is-Headed-for-usnews-3020690600.html?x=0
How Kindle will compete with the iPad
http://tech.fortune.cnn.com/2010/05/25/how-kindle-will-compete-with-the-ipad/
By not competing
By not competing
American Jobbery Act
http://online.wsj.com/article/SB10001424052748704113504575264532051783298.html?mod=WSJ_hp_mostpop_read
Check out the spending on this bill. Senator Hatch co-authored it. The last two things on are the only things that have anything do with Job Creation, which the government sucks at anyway. But seriously what a STUPID WASTE OF MONEY. That we BORROWED because we are so damn BROKE.
Check out the spending on this bill. Senator Hatch co-authored it. The last two things on are the only things that have anything do with Job Creation, which the government sucks at anyway. But seriously what a STUPID WASTE OF MONEY. That we BORROWED because we are so damn BROKE.
Legendary Investor Is More Worried Than Ever
http://online.wsj.com/article/SB10001424052748704167704575258442772338282.html?mod=loomia&loomia_si=t0:a16:g2:r3:c0.050819:b34254968?partner=yahoofinance
Best quote from the article: You could have heard a pin drop as Mr. Klarman proclaimed, "I am more worried about the world, more broadly, than I ever have been in my career." That's because you can make good investing decisions and still end up with bad results if you reap your profits in currencies that do not hold their purchasing power, he explained.
"Will money be worth anything," asked Mr. Klarman, "if governments keep intervening anytime there's a crisis to prop things up?"
Best quote from the article: You could have heard a pin drop as Mr. Klarman proclaimed, "I am more worried about the world, more broadly, than I ever have been in my career." That's because you can make good investing decisions and still end up with bad results if you reap your profits in currencies that do not hold their purchasing power, he explained.
"Will money be worth anything," asked Mr. Klarman, "if governments keep intervening anytime there's a crisis to prop things up?"
America -- The Bell Tolls for Thee
http://finance.yahoo.com/news/America-The-Bell-Tolls-for-tsmf-3305173800.html;_ylt=AlGwoNWVSla08CtpOlSRCXi7YWsA;_ylu=X3oDMTFhbWE5a29jBHBvcwM5BHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA2FtZXJpY2EtLXRoZQ--?x=0
First comes Greece, Then Comes Spain, Them Comes America in a, a, I had something for this....
First comes Greece, Then Comes Spain, Them Comes America in a, a, I had something for this....
Euro falls again as fear rules
http://www.reuters.com/article/idUSTRE64K0JX20100526?type=ousivMolt
That bailout really saved the currency....
That bailout really saved the currency....
Private pay shrinks to historic lows as gov't payouts rise
http://www.usatoday.com/money/economy/income/2010-05-24-income-shifts-from-private-sector_N.htm
Peter
http://www.fool.com/investing/general/2010/05/21/how-peter-lynch-destroyed-the-market.aspx?source=ihpdspmra0000001&lidx=5
Some great advice for investors. Has anyone seen what Netflix has been doing? Crazy growth, we all need to keep our eyes open for the next thing that everyone is going to have. Imax home theaters? Ipads? Whatever it may be, buy what people buy.
Some great advice for investors. Has anyone seen what Netflix has been doing? Crazy growth, we all need to keep our eyes open for the next thing that everyone is going to have. Imax home theaters? Ipads? Whatever it may be, buy what people buy.
Monday, May 24, 2010
Please, read this, it will teach you something AND make you laugh.....
--A miner – indeed no entrepreneur – goes into business to make a marginal profit. He goes into business to make a big profit, knowing full well that everything is against him. The marketplace abhors a huge profit margin the way nature abhors a vacuum. Profits are a signal to other competitors to come in and provide a good or service at a cheaper price or in a better way.
--The innovative entrepreneur captures big initial profits by taking big initial risks. His risk ends up benefitting everyone by luring other producers in. The end result for consumers is an industry or goods and services that didn't exist before. That is a social benefit which does not accrue to a corporate bottom line.
--In any event, in a world where public sector salaries are higher, the only real reason to stay in the private sector is that you have a business you want to be in and believe you can make more doing in that way. There are other more ethical and philosophical reasons too, of course. But the government inviting itself to be your partner in business is like a stranger inviting himself into your marriage bed.
--He says it will subsidise your love-making on nights where you have poor performance, saving your marriage from trouble. And on magical nights, he's ...uh...just along for the ride. Because your marriage bed is in his jurisdiction, he's entitled to his fair share of your marital bliss. And please scoot over would you? You're hogging the doona.
--Granted, there is a difference between a spouse and a non-renewable natural resource. Although now that we type that, we are less sure about it than when we first thought about it. But in our metaphor above, where the government intrudes into a pre-existing, consensual, private relationship, it's pretty clear who's getting
From: The Daily Reckoning
--The innovative entrepreneur captures big initial profits by taking big initial risks. His risk ends up benefitting everyone by luring other producers in. The end result for consumers is an industry or goods and services that didn't exist before. That is a social benefit which does not accrue to a corporate bottom line.
--In any event, in a world where public sector salaries are higher, the only real reason to stay in the private sector is that you have a business you want to be in and believe you can make more doing in that way. There are other more ethical and philosophical reasons too, of course. But the government inviting itself to be your partner in business is like a stranger inviting himself into your marriage bed.
--He says it will subsidise your love-making on nights where you have poor performance, saving your marriage from trouble. And on magical nights, he's ...uh...just along for the ride. Because your marriage bed is in his jurisdiction, he's entitled to his fair share of your marital bliss. And please scoot over would you? You're hogging the doona.
--Granted, there is a difference between a spouse and a non-renewable natural resource. Although now that we type that, we are less sure about it than when we first thought about it. But in our metaphor above, where the government intrudes into a pre-existing, consensual, private relationship, it's pretty clear who's getting
From: The Daily Reckoning
Gold Drops but safe haven remains
http://www.reuters.com/article/idUSTRE6495XB20100520?type=ousivMolt
Gold is still money.
Gold is still money.
Euro Falls for 2nd Day on Concern Europe Debt Crisis Spreading
http://www.businessweek.com/news/2010-05-24/euro-falls-for-2nd-day-on-concern-europe-debt-crisis-spreading.html
Downsizing Government
http://www.downsizinggovernment.org/education/k-12-subsidies
Government has not helped education, it has ruined it. I have a great idea, fire all union teachers, Cut their pension plans, Cut their health care benefits. I am not sure of any industry that is so well taken care of with benefits as government workers are. Open up the free market, what do people think will happen if the government gets out of the way, everyone will stop going to school? NO! Prices will drop and quality will improve just like EVERY OTHER INDUSTRY that the government has NOT been involved in.
I watched a news report on the poor school districts and it annoyed me how teachers are portrayed as always being perfect. All Unions do is eliminate competition so crappy teachers and good teachers are equalized. Good teachers would be paid more and bad teachers would be let go. BYU has no tenure, and I think it has helped them improve the quality of teaching.
Government has not helped education, it has ruined it. I have a great idea, fire all union teachers, Cut their pension plans, Cut their health care benefits. I am not sure of any industry that is so well taken care of with benefits as government workers are. Open up the free market, what do people think will happen if the government gets out of the way, everyone will stop going to school? NO! Prices will drop and quality will improve just like EVERY OTHER INDUSTRY that the government has NOT been involved in.
I watched a news report on the poor school districts and it annoyed me how teachers are portrayed as always being perfect. All Unions do is eliminate competition so crappy teachers and good teachers are equalized. Good teachers would be paid more and bad teachers would be let go. BYU has no tenure, and I think it has helped them improve the quality of teaching.
Spain Stocks' Year-to-Date Drop at 22%
http://online.wsj.com/article/SB10001424052748704113504575264603835747256.html?
Good old Spaniards.
Good old Spaniards.
Defaults on Apartment-Building Loans Set Record for U.S. Banks
http://www.bloomberg.com/apps/news?pid=20601103&sid=a4Zv_
I love recoveries!
I love recoveries!
GOVERNMENTWIDE PURCHASE CARDS
http://www.gao.gov/new.items/d08333.pdf
This report issued by Government Accountability Office estimated that “nearly 41 percent” of purchase card transactions made from July 1, 2005, through June 30, 2006 failed to meet “basic internal control standards.”
This comes on the heel of this:
http://www.foxnews.com/politics/2010/05/24/government-employees-reportedly-massive-shopping-spree-taxpayer-money-face/
I thought that the benevolent government was more evolved than the rest of us, free from greed, sin, and imperfections.
This report issued by Government Accountability Office estimated that “nearly 41 percent” of purchase card transactions made from July 1, 2005, through June 30, 2006 failed to meet “basic internal control standards.”
This comes on the heel of this:
http://www.foxnews.com/politics/2010/05/24/government-employees-reportedly-massive-shopping-spree-taxpayer-money-face/
I thought that the benevolent government was more evolved than the rest of us, free from greed, sin, and imperfections.
Sunday, May 23, 2010
Brazil stocks rise on post-plunge bargain hunting
http://www.reuters.com/article/idCNN2120675720100521?rpc=44
Fiscal crises threaten Europe's generous benefits
http://finance.yahoo.com/news/Fiscal-crises-threaten-apf-242192521.html?x=0&sec=topStories&pos=2&asset=&ccode=
Socialism is not sustainable whether Europe Runs, the USA runs, or Gandhi runs it. Eventually you just run out of money because people have no motivation to work.
Socialism is not sustainable whether Europe Runs, the USA runs, or Gandhi runs it. Eventually you just run out of money because people have no motivation to work.
China vetting Morgan Stanley sale of CICC stake: report
http://www.reuters.com/article/idUSTRE64N02A20100524
Good move? Bad move?
Good move? Bad move?
Geithner says sees global economy improving
http://www.reuters.com/article/idUSTRE64N0DO20100524
When Tim Geithner says something, you should probably realize the opposite is true.
When Tim Geithner says something, you should probably realize the opposite is true.
How to tweak Social Security
http://www.presstelegram.com/opinions/ci_15147777
Awww the stupidity of people. Lets tweak it so it can be around for another 75 years, who cares after that, it is so far away. It is this type of thinking that got us into the mess we are in and the mess we are in is nothing compared to the mess we will be in.
Awww the stupidity of people. Lets tweak it so it can be around for another 75 years, who cares after that, it is so far away. It is this type of thinking that got us into the mess we are in and the mess we are in is nothing compared to the mess we will be in.
Ailing Spanish Lender Gets a €550 Million Bailout
http://www.nytimes.com/2010/05/24/business/global/24iht-peseta.html?src=busln
One little, two little, three little too big to fail.
One little, two little, three little too big to fail.
Even Young Germans Fantasize About Leaving The Euro Read more: http://www.businessinsider.com/even-young-germans-fantasize-about-leaving-the-euro-201
http://www.businessinsider.com/even-young-germans-fantasize-about-leaving-the-euro-2010-5
Eventually the EU will fall apart, if not in public, it will in private. With the Euro leading the failure. It just does not work, and the strongest country's population wants out. That farewell party keeps moving its date up for the Euro.
Eventually the EU will fall apart, if not in public, it will in private. With the Euro leading the failure. It just does not work, and the strongest country's population wants out. That farewell party keeps moving its date up for the Euro.
Rio Tinto Calls Aussie Mining Tax A Sovereign Risk
http://www.benzinga.com/analyst-ratings/analyst-color/10/05/295796/rio-tinto-calls-aussie-mining-tax-a-sovereign-risk
Good old government, not realizing that capital can flee their markets as fast as it fled to their markets.
Good old government, not realizing that capital can flee their markets as fast as it fled to their markets.
Bullish Bets On Oil Reduced
http://www.benzinga.com/general/10/05/295797/bullish-bets-on-oil-reduced
Based on reduced consumption and strength of the dollar. The dollar will strengthen short term. Long term, no way.
Based on reduced consumption and strength of the dollar. The dollar will strengthen short term. Long term, no way.
Hu Says China to Move Gradually, Independently on Yuan Changes
http://www.businessweek.com/news/2010-05-23/hu-says-china-to-move-gradually-independently-on-yuan-changes.html
They will do it when they want to, and when they do it will hurt us more than them.
They will do it when they want to, and when they do it will hurt us more than them.
Friday, May 21, 2010
Thursday, May 20, 2010
Peter Schiff: Stock market, U.S. economy, financial regs, exchange controls
http://www.youtube.com/watch?v=qz0aHQ8KUpQ&playnext_from=TL&videos=wlfC8YC-wf0&feature=sub
Seriously. I love Capital Controls. I love how the American Public is so mystified by Lindsey Lohan and whoever the hell else is in the news that they pay little to no attention to what the HUGE bill that just passed the Senate even says. This is just step 2. Step 1 was in the "Jobs" bill that passed. Step 2 is in this bill. Soon, we will be unable as a nation to invest in foreign anything, be it by complete and outright denial, insane taxation, or regulation that makes it so costly it is not worth it to invest there anyway.
Seriously. I love Capital Controls. I love how the American Public is so mystified by Lindsey Lohan and whoever the hell else is in the news that they pay little to no attention to what the HUGE bill that just passed the Senate even says. This is just step 2. Step 1 was in the "Jobs" bill that passed. Step 2 is in this bill. Soon, we will be unable as a nation to invest in foreign anything, be it by complete and outright denial, insane taxation, or regulation that makes it so costly it is not worth it to invest there anyway.
Highway Robbery on Capitol Hill
http://www.fool.com/investing/general/2010/05/18/highway-robbery-on-capitol-hill.aspx?source=ihpsitas0000001&lidx=1
Great article
Great article
Yen slips vs. euro, dollar after Japan minister comments
http://www.marketwatch.com/story/yen-slips-vs-rivals-after-japan-minister-warns-2010-05-20
Nobody wants a strong currency.
Nobody wants a strong currency.
The Tough Sell of Nuclear Investing
http://finance.yahoo.com/banking-budgeting/article/109609/the-tough-sell-of-nuclear-investing
US, Britain and Germany to discuss debt crisis
http://finance.yahoo.com/news/US-Britain-and-Germany-to-apf-382881013.html?x=0&sec=topStories&pos=main&asset=&ccode=
Idiots guiding idiots.
Idiots guiding idiots.
Fed Assets Reach Record $2.35 Trillion on Mortgage Purchases
http://www.businessweek.com/news/2010-05-20/fed-assets-reach-record-2-35-trillion-on-mortgage-purchases.html
No Comment.
No Comment.
Senate passes financial regulation bill
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/20/AR2010052003503.html
Stupid. Stupid. STUPID. This only hurts small businesses by reducing competition, of course, this is what the cronies in Washington want.
Stupid. Stupid. STUPID. This only hurts small businesses by reducing competition, of course, this is what the cronies in Washington want.
Google premieres Web television gamble
http://www.reuters.com/article/idUSTRE64I67J20100521
I think this is the wave of the future.
I think this is the wave of the future.
Toyota to Acquire $50 Million Stake in Tesla Motors
http://www.businessweek.com/news/2010-05-20/toyota-to-acquire-50-million-stake-in-tesla-motors-update2-.html
Good Move? Bad Move?
Good Move? Bad Move?
‘Pink Panther’ lopes off with £85m of top art tucked under his arm
http://www.timesonline.co.uk/tol/news/world/europe/article7131750.ece
Just interesting news.
Just interesting news.
Germany, France renew vows on multi-national bank tax
http://www.reuters.com/article/idUSTRE64J4H920100520
We have always been able to tax our way out of a recession, so this is great news and a great idea.
We have always been able to tax our way out of a recession, so this is great news and a great idea.
Problem bank list hits 775
http://money.cnn.com/2010/05/20/news/companies/fdic_list/
Can't we just bail all of them out?
Can't we just bail all of them out?
Mortgage delinquencies drag on economic recovery
http://hosted.ap.org/dynamic/stories/U/US_HOME_FORECLOSURES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-05-19-10-00-42
But really, everything is recovering.
But really, everything is recovering.
Singapore's GDP rockets 39% as Asian trade soars
http://www.smh.com.au/business/world-business/singapores-gdp-rockets-39-as-asian-trade-soars-20100520-vgwf.html
More good news for Asia
More good news for Asia
Taiwan Outpaces China as Growth Accelerates to 30-Year High
http://www.bloomberg.com/apps/news?pid=20601080&sid=aI8gdYSC_PHo
As long as China decides not to destroy the tiny little island, they should continue doing great.
As long as China decides not to destroy the tiny little island, they should continue doing great.
More Americans Unexpectedly File Claims for Jobless Benefits
http://www.bloomberg.com/apps/news?pid=20601068&sid=aHZth4tfWaeA
There is a recovery, I promise, it is there. Everyone. Please Believe Me!!!!
There is a recovery, I promise, it is there. Everyone. Please Believe Me!!!!
Tuesday, May 18, 2010
Euro hits fresh four-year low vs. dollar in Asian trade
http://www.marketwatch.com/story/euro-hits-fresh-four-year-low-vs-dollar-in-asia-2010-05-18?reflink=MW_news_stmp
Good thing they bailed Greece out. I wonder if I can pre-order any Deutsche Marks?
Good thing they bailed Greece out. I wonder if I can pre-order any Deutsche Marks?
Geithner Urges China to Ensure ‘Level Playing Field
http://www.businessweek.com/news/2010-05-18/geithner-urges-china-to-ensure-level-playing-field-update2-.html
Good old "never had a real job" Tim Geithner giving advice.
Good old "never had a real job" Tim Geithner giving advice.
SEC proposes new rules for avoiding market plunges
http://finance.yahoo.com/news/SEC-proposes-new-rules-for-apf-1989906018.html?x=0&sec=topStories&pos=main&asset=&ccode=
I have a crazy idea to decrease the craziness of the market. Don't run up Trillion Dollar deficits, stop passing regulations and raising taxes. I bet that would do more for the market than some stupid idea to stop trades on computers.
I have a crazy idea to decrease the craziness of the market. Don't run up Trillion Dollar deficits, stop passing regulations and raising taxes. I bet that would do more for the market than some stupid idea to stop trades on computers.
Goldman Sachs Advice Hands Clients Losses in 7 of 9 Top Trade
http://www.businessweek.com/news/2010-05-18/goldman-sachs-advice-hands-clients-losses-in-7-of-9-top-trades.html
Investing is a risk. It is a risk worth taking (in my opinion) but it is a risk. So everyone can get it wrong. Sucks for Goldman Though. And who is to say that those companies were not to be held on for a longer time frame anyway?
Investing is a risk. It is a risk worth taking (in my opinion) but it is a risk. So everyone can get it wrong. Sucks for Goldman Though. And who is to say that those companies were not to be held on for a longer time frame anyway?
National Inflation Association New Charts Page
http://inflation.us/charts.html
The National Inflation Association recently updated their Charts page. I checked it out earlier today and the new page has much more comprehensive than their old page and has some really good information on it. Check it out if you have a chance.
The National Inflation Association recently updated their Charts page. I checked it out earlier today and the new page has much more comprehensive than their old page and has some really good information on it. Check it out if you have a chance.
Chanos sees more short sale restrictions in Europe
http://www.reuters.com/article/idUSN1816463620100518
Germany banned "naked" short selling today. Interesting read. I do love how everyone blames the market for being smarter than governments.
Germany banned "naked" short selling today. Interesting read. I do love how everyone blames the market for being smarter than governments.
Monday, May 17, 2010
Treasury takes $1.6 billion loss on Chrysler loan
http://finance.yahoo.com/news/Treasury-takes-16-billion-apf-581812658.html?x=0&sec=topStories&pos=main&asset=&ccode=
Good job government!
Good job government!
61 Senators Perpetuate "Too Big to Fail"
http://www.fool.com/investing/general/2010/05/17/61-senators-perpetuate-too-big-to-fail.aspx?source=ihpsitth0000001
Hatch Voted for it. Bennett down, Hatch to go. Contact your delegate and get this clown out of office.
Hatch Voted for it. Bennett down, Hatch to go. Contact your delegate and get this clown out of office.
The Revenue Limits of Tax and Spend
http://online.wsj.com/article/SB10001424052748704608104575217870728420184.html
Apparently the obvious has a name: Hauser's Law
Apparently the obvious has a name: Hauser's Law
IMF warns rich nations to cut debt
http://www.financialpost.com/story.html?id=3029003
I love how the only way to cut debt is to raise taxes. How about you cut government programs and spending? How crazy would that be?
I love how the only way to cut debt is to raise taxes. How about you cut government programs and spending? How crazy would that be?
Paulson Hedge Fund Adds to Bank of America Stake
http://www.businessweek.com/news/2010-05-17/paulson-hedge-fund-adds-to-bank-of-america-stake-update2-.html
The guy who made millions betting against the US Housing market, is now betting on one of the banks who had to have a bailout because of it. Interesting read on his reasoning, though the hedge fun he runs still owns more of a Gold Trust than anything else.
The guy who made millions betting against the US Housing market, is now betting on one of the banks who had to have a bailout because of it. Interesting read on his reasoning, though the hedge fun he runs still owns more of a Gold Trust than anything else.
Will the iPad Hurt Mac Sales? Too Soon To Say
http://www.pcworld.com/article/196474/will_the_ipad_hurt_mac_sales_too_soon_to_say.html
Interesting read on how Apple might cannibalize its own market, but only time will tell.
Interesting read on how Apple might cannibalize its own market, but only time will tell.
Sunday, May 16, 2010
Getting To Know Hedge-Like Mutual Funds
http://www.investopedia.com/articles/mutualfund/09/hedge-like-mutual-funds.asp
Interesting article, a different type of mutual fund.
Interesting article, a different type of mutual fund.
Band-Aids For Everyone
May 12, 2010
Band-Aids For Everyone
By John Browne
As the health of much of the global economy weakens on a daily basis, political leadership increasingly ignores the source of the malady and instead focuses on short term "band-aid" remedies. These measures which may buy a few months, or years, of relative well being, will convince the public that problems have been solved and will thereby take pressure off governments to make the needed structural changes.
The recently announced $1 trillion EU bailout is a perfect example of this "band-aid" approach. The just concluded general election in the United Kingdom is another. The inconclusive UK result, which creates a Conservative/Liberal Democrat coalition, will be an unhappy, unquestionably temporary arrangement. Similarly, the EU bailout will continue to infuriate Northern Europeans, who may ultimately push for a breakup of the Union.
NuLabour (what the center-drifting Labour Party of Tony Blair has been branded) took a spectacular beating as a result of the clumsy stewardship of now former Prime Minister, Gordon Brown. Mr. Brown, whom I knew as a political bruiser in his early days in the House of Commons, had led Britain far down the road to economic ruin. As a very powerful Chancellor of the Exchequer under Tony Blair, he introduced many stealth taxes to finance a wave of high government spending. Seemingly operating as an unelected Prime Minister, he unleashed massive spending programs and interfered with UK banks in ways that worsened the effects of the financial crisis.
After Brown formally succeeded Blair in June of 2007, he soon became one of the most unpopular Prime Ministers in more than a century. The fact that David Cameron and the Conservatives were unable to capitalize on this weakness to secure a massive victory must be seen as a major failure.
Furthermore, Cameron was so anxious for personal power that he accepted a power sharing arrangement with the Liberal Democrats, a party with many key views to the left of NuLabour. This will lead to damaging compromises that, over time, will likely threaten both his parliamentary and grass roots support. Indeed cracks already are showing in the Conservative ranks.
The fragile coalition likely will have little appetite for the tough economic decisions that need to be made, including the adoption of austerity measures that must surely accompany any meaningful attempt to curb the unhealthy deficit. This political paralysis will leave the UK increasingly exposed to default and economically ruinous inflation. Those deemed to be responsible for any continued economic weakness will likely to be voted out in the next election, which could come as soon as 12 months. Labour's status as the opposition party may be brief.
In short, personal ambition has driven Cameron to fall into a major political trap. He would have been well advised to shun a coalition and leave the political costs of acute austerity and abject poverty to a NuLabour/Liberal Democrat coalition who would be cast out at the next election, leaving a much stronger and unencumbered Conservative Party in power for years to come.
The massive EU/ IMF band-aid to insulate default contagion will likely share a similar fate. The move, which will prevent the needed restructuring of the EU's "Club Med" countries, will destroy the Euro and unleash massive inflation. The furious spike in gold prices in the days after the EU capitulation indicates the depth and breadth of this consensus. Worse yet, in exchange for sowing the seeds for disunion, the bailout will achieve nothing significant.
The package may well insulate Greece from market default for some 18 months, but it will do little to change Greek habits. Even at almost a trillion dollars, it will prove insufficient to meet the likely cumulative needs of Portugal, Spain, Italy, Ireland, France and the UK.
Furthermore, despite their leaders' willingness to protect the Club Med and the cohesion of the EU, the German population is increasingly angry. Indeed, as a result of her support for the Greek bailout, Chancellor Merkel suffered a serious electoral setback on May 9th.
In short both the UK conservatives and the EU appear to have been so tempted by achieving or retaining political power within their failed economic models that they have fallen into electoral traps that likely will threaten their political survival within the coming year. They may have bought themselves some time, but little else.
Band-Aids For Everyone
By John Browne
As the health of much of the global economy weakens on a daily basis, political leadership increasingly ignores the source of the malady and instead focuses on short term "band-aid" remedies. These measures which may buy a few months, or years, of relative well being, will convince the public that problems have been solved and will thereby take pressure off governments to make the needed structural changes.
The recently announced $1 trillion EU bailout is a perfect example of this "band-aid" approach. The just concluded general election in the United Kingdom is another. The inconclusive UK result, which creates a Conservative/Liberal Democrat coalition, will be an unhappy, unquestionably temporary arrangement. Similarly, the EU bailout will continue to infuriate Northern Europeans, who may ultimately push for a breakup of the Union.
NuLabour (what the center-drifting Labour Party of Tony Blair has been branded) took a spectacular beating as a result of the clumsy stewardship of now former Prime Minister, Gordon Brown. Mr. Brown, whom I knew as a political bruiser in his early days in the House of Commons, had led Britain far down the road to economic ruin. As a very powerful Chancellor of the Exchequer under Tony Blair, he introduced many stealth taxes to finance a wave of high government spending. Seemingly operating as an unelected Prime Minister, he unleashed massive spending programs and interfered with UK banks in ways that worsened the effects of the financial crisis.
After Brown formally succeeded Blair in June of 2007, he soon became one of the most unpopular Prime Ministers in more than a century. The fact that David Cameron and the Conservatives were unable to capitalize on this weakness to secure a massive victory must be seen as a major failure.
Furthermore, Cameron was so anxious for personal power that he accepted a power sharing arrangement with the Liberal Democrats, a party with many key views to the left of NuLabour. This will lead to damaging compromises that, over time, will likely threaten both his parliamentary and grass roots support. Indeed cracks already are showing in the Conservative ranks.
The fragile coalition likely will have little appetite for the tough economic decisions that need to be made, including the adoption of austerity measures that must surely accompany any meaningful attempt to curb the unhealthy deficit. This political paralysis will leave the UK increasingly exposed to default and economically ruinous inflation. Those deemed to be responsible for any continued economic weakness will likely to be voted out in the next election, which could come as soon as 12 months. Labour's status as the opposition party may be brief.
In short, personal ambition has driven Cameron to fall into a major political trap. He would have been well advised to shun a coalition and leave the political costs of acute austerity and abject poverty to a NuLabour/Liberal Democrat coalition who would be cast out at the next election, leaving a much stronger and unencumbered Conservative Party in power for years to come.
The massive EU/ IMF band-aid to insulate default contagion will likely share a similar fate. The move, which will prevent the needed restructuring of the EU's "Club Med" countries, will destroy the Euro and unleash massive inflation. The furious spike in gold prices in the days after the EU capitulation indicates the depth and breadth of this consensus. Worse yet, in exchange for sowing the seeds for disunion, the bailout will achieve nothing significant.
The package may well insulate Greece from market default for some 18 months, but it will do little to change Greek habits. Even at almost a trillion dollars, it will prove insufficient to meet the likely cumulative needs of Portugal, Spain, Italy, Ireland, France and the UK.
Furthermore, despite their leaders' willingness to protect the Club Med and the cohesion of the EU, the German population is increasingly angry. Indeed, as a result of her support for the Greek bailout, Chancellor Merkel suffered a serious electoral setback on May 9th.
In short both the UK conservatives and the EU appear to have been so tempted by achieving or retaining political power within their failed economic models that they have fallen into electoral traps that likely will threaten their political survival within the coming year. They may have bought themselves some time, but little else.
GM wants to sell to more subprime buyers
http://www.msnbc.msn.com/id/37179852/ns/business-autos/
Did we not learn our lesson from housing? Of course, when the independent lenders do not want to, why not have a company that is backed by the "full faith and credit of the US government" take those subprime loaners on. Is it possible to short GM if this gets approved, because seriously, this is just stupid.
Did we not learn our lesson from housing? Of course, when the independent lenders do not want to, why not have a company that is backed by the "full faith and credit of the US government" take those subprime loaners on. Is it possible to short GM if this gets approved, because seriously, this is just stupid.
Morgan Stanley is now ALSO being investigated by the Feds.
http://www.fool.com/investing/general/2010/05/12/morgan-stanley-wishes-it-werent-like-goldman.aspx?source=ihpsitota0000001&lidx=8
Venezuela To Detail New Currency Trading Rules Monday
http://online.wsj.com/article/BT-CO-20100516-702681.html?mod=WSJ_latestheadlines
The glorious Chavez is leading the country into despair and economic ruin, but hey, he says he is "helping the poor", and he loves criticizing the rich. Well Mr. Chavez, they will leave unless you subsidize them. The country is failing, inflation is running rampant, so here he is, putting regulations to try and stem his own stupid decisions. It will not, the currency will still fail.
The glorious Chavez is leading the country into despair and economic ruin, but hey, he says he is "helping the poor", and he loves criticizing the rich. Well Mr. Chavez, they will leave unless you subsidize them. The country is failing, inflation is running rampant, so here he is, putting regulations to try and stem his own stupid decisions. It will not, the currency will still fail.
Australia Has ‘Room for Negotiation’ on Resource Tax
http://www.businessweek.com/news/2010-05-16/australia-has-room-for-negotiation-on-resource-tax-update1-.html
Hopefully the idiots who have never had a real job (politicians) come to their senses and do not kill the Golden Goose, but I sure do not have a ton of hope.
Hopefully the idiots who have never had a real job (politicians) come to their senses and do not kill the Golden Goose, but I sure do not have a ton of hope.
Don’t Tell Zimbabwe: Argentina Belongs to 25% Inflation Club
http://www.bloomberg.com/apps/news?pid=20601086&sid=aUcCa9tRT.7k
Argentina and Venezuela are leading the world for now.
Argentina and Venezuela are leading the world for now.
Asian nations emerge from recession as stronger economic powers
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/13/AR2010051305534.html?sid=ST2010051400182
Whatever market share a company gains during a recession it rarely loses, I wonder if it will hold true for countries?
Whatever market share a company gains during a recession it rarely loses, I wonder if it will hold true for countries?
US faces one of biggest budget crunches in world – IMF
http://blogs.telegraph.co.uk/finance/edmundconway/100005702/us-faces-one-of-biggest-budget-crunches-in-western-world-imf/
Vacation. Germans. Failure of decision making by 3rd parties
I spent the weekend with my wife in Salt Lake, so I took a break from updating the blog. We had a great time and needed the break as the summer season hits up this will be the last break I have before winter time. But back to the news of the day. The euro took at beating and will continue to as the Germans are now (finally) losing faith in the EU.
http://www.timesonline.co.uk/tol/news/world/europe/article7127621.ece
Various analysts saying the euro is finished.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqquuYOAN_sE
I think the euro is the icing on the currency cake, the real cake is going to be the dollar. The USA is in worse shape than Greece, and no one is paying attention to it. It is going to fall, that is for sure, as far as when I do not know, but it will have a final value of wallpaper.
http://www.timesonline.co.uk/tol/news/world/europe/article7127621.ece
Various analysts saying the euro is finished.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqquuYOAN_sE
I think the euro is the icing on the currency cake, the real cake is going to be the dollar. The USA is in worse shape than Greece, and no one is paying attention to it. It is going to fall, that is for sure, as far as when I do not know, but it will have a final value of wallpaper.
Friday, May 14, 2010
Manufacturing sector keeps expanding (In New Zealand)
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10644651
Good news for them, maybe they do have more to offer than middle earth.
Good news for them, maybe they do have more to offer than middle earth.
Meltup has been released.
http://inflation.us/videos.html
The National Inflation Association has released a new documentary that I found interesting. I enjoy these guys and agree with most of what they say. Though it is long, it is worth a look.
The National Inflation Association has released a new documentary that I found interesting. I enjoy these guys and agree with most of what they say. Though it is long, it is worth a look.
Thursday, May 13, 2010
Buy Japanese!
http://blogs.forbes.com/greatspeculations/2010/05/13/im-buying-japanese-i-really-think-so/?partner=yahootix
Gamble
http://reason.com/archives/2010/05/13/leave-the-gamblers-alone
The government wanting to limit our freedoms once again. I've always considered buying stocks a gamble. So is buying a house, so is dating someone with a different background. It is a bit of a slippery slope. The gambling line is an arbitrary fixture right now with not definite criteria when all is considered. I believe people should be able to smoke if they want to. It's their right in the appropriate place, but now we see huge taxes and fees levied against these people. Morally I object to it, but when someone's freedoms are curtailed, I do not agree.
The government wanting to limit our freedoms once again. I've always considered buying stocks a gamble. So is buying a house, so is dating someone with a different background. It is a bit of a slippery slope. The gambling line is an arbitrary fixture right now with not definite criteria when all is considered. I believe people should be able to smoke if they want to. It's their right in the appropriate place, but now we see huge taxes and fees levied against these people. Morally I object to it, but when someone's freedoms are curtailed, I do not agree.
Motley
http://caps.fool.com/TickerRankings.aspx?filter=7&sortcol=38&sortdir=1&source=ifltnvsnv0000001
These are some of the highest rated picks from the Motley Fool. It pretty much shows you what other people are purchasing right now and is a helpful tool to know when to get into something. This site always has great articles about stocks you might be interested in.
These are some of the highest rated picks from the Motley Fool. It pretty much shows you what other people are purchasing right now and is a helpful tool to know when to get into something. This site always has great articles about stocks you might be interested in.
Summary of the Guide to the Best Commodity ETFs
http://www.contrarianprofits.com/guide-to-the-best-commodity-etfs/summary-of-the-guide-to-the-best-commodity-etfs
In my humble opinion, I believe that soft commodity's are going to rise as food prices continue to go up. Food prices will not just go up because of inflation, but also because of the credit crunch as many farmers were unable to get loans for fertilizer (according to Jim Rogers). Any thoughts on the article above?
In my humble opinion, I believe that soft commodity's are going to rise as food prices continue to go up. Food prices will not just go up because of inflation, but also because of the credit crunch as many farmers were unable to get loans for fertilizer (according to Jim Rogers). Any thoughts on the article above?
Wednesday, May 12, 2010
Silver Wheaton Q1 Profit Nearly Triples, Yet Misses Estimate
http://www.rttnews.com/Content/CanadianNews.aspx?Id=1303455&SM=1
Sure wish I would have invested here.
Sure wish I would have invested here.
Canada scores well in tax report
http://www.thestar.com/business/article/808475--canada-scores-well-in-tax-report
This is just sad.
This is just sad.
Fed’s Comeback ‘Punch’ Wins Senate Fights on Rates, Oversight
http://www.businessweek.com/news/2010-05-13/fed-s-comeback-punch-wins-senate-fights-on-rates-oversight.html
The government passed legislation that can look into what the Fed did during 2008, but nothing during the future. I think this sums it up best: "I'm a bit confused by a world in which 96 senators think we need to know what the Fed did in 2008 and 2009 but only 37 think we'll need to know what the Fed did in 2012 and 2013."
The government passed legislation that can look into what the Fed did during 2008, but nothing during the future. I think this sums it up best: "I'm a bit confused by a world in which 96 senators think we need to know what the Fed did in 2008 and 2009 but only 37 think we'll need to know what the Fed did in 2012 and 2013."
Get Rid of the Department of Energy
http://www.downsizinggovernment.org/energy
Let us please cut 40 billion dollars in spending. The department of energy was originally founded to reduce our dependence on foreign oil. We are now, since the inception more dependent on foreign oil. Fail.
Let us please cut 40 billion dollars in spending. The department of energy was originally founded to reduce our dependence on foreign oil. We are now, since the inception more dependent on foreign oil. Fail.
Unpaid Interns Are Exploited?
http://reason.com/archives/2010/05/06/unpaid-interns-are-exploited
Being that most of us are either college students or just finishing, I wonder what everyone thinks of this. I know that if I got an unpaid internship at Chevron right now I would start giving thanks to the great God above.
Being that most of us are either college students or just finishing, I wonder what everyone thinks of this. I know that if I got an unpaid internship at Chevron right now I would start giving thanks to the great God above.
Gold
Just got done with the daily reckoning for today. Basically says that as with the great depression we are going to see gold prices soar. Bill may be on to something. In a world where paper money loses all intrinsic and supposed value, the real wealth resides in items that have actual value and purpose. Commodities will see a large rise in value over the next few years. You might have to sit on it for a while, but look to mining and other metal producers for big upswings.
Tuesday, May 11, 2010
Stock Pick from Inflation.us
http://inflation.us/cde.html
Ticker: CDE
Date of pick: 5/3/2010
Price as of 5/3/2010: $17.92
Ticker: CDE
Date of pick: 5/3/2010
Price as of 5/3/2010: $17.92
Senate Rejects Republican-backed Plan For Fannie Mae, Freddie Mac
"Virginia-based Freddie Mac reported a net loss for the first quarter that widened to $7.98 billion or $2.45 per share from $7.8 billion or $2.39 per share in the year-ago period on continued weakness in the housing market. The company also said it was pressing for an additional $10.6 billion in federal funding to stay afloat in the fragile credit environment."
http://www.dailymarkets.com/releases/2010/05/11/senate-rejects-republican-backed-plan-for-fannie-mae-freddie-mac/
Boy I really am glad that the government has rescued the housing market. It is due for a turnaround. All it needs is about 16 billion more dollars to stay afloat in this environment.
http://www.dailymarkets.com/releases/2010/05/11/senate-rejects-republican-backed-plan-for-fannie-mae-freddie-mac/
Boy I really am glad that the government has rescued the housing market. It is due for a turnaround. All it needs is about 16 billion more dollars to stay afloat in this environment.
Boeing suspends C-17 production in wake of strike
http://www.presstelegram.com/news/ci_15063507
I don't know how many of you guys work for companies that provide a retirement, but I sure as hell don't. No wonder companies are leaving the USA for their manufacturing needs.
I don't know how many of you guys work for companies that provide a retirement, but I sure as hell don't. No wonder companies are leaving the USA for their manufacturing needs.
Toyota Cutting Production in the USA
http://www.businessweek.com/news/2010-05-11/toyota-plans-to-cut-domestic-production-capacity-20-by-2015.html
Bailout Is ‘Nail in the Coffin’ for Euro, Rogers Says
http://www.businessweek.com/news/2010-05-11/bailout-is-nail-in-the-coffin-for-euro-rogers-says-update1-.html
Like I said earlier, we need to plan a going away party for the Euro, we could use Euro Notes to make the pinata!
Like I said earlier, we need to plan a going away party for the Euro, we could use Euro Notes to make the pinata!
Basic Argument for why I believe home prices will fall
http://www.lewrockwell.com/schiff/schiff82.1.html
The Home Front Peter Schiff: Let the Housing Market Crash
http://www.usnews.com/money/blogs/the-home-front/2009/1/23/peter-schiff-let-the-housing-market-crash.html
My Favorite part of the interview: "Initially, Fannie and Freddie's mission was to help houses be affordable. Now, their mission is to keep housing prices expensive."
Good old Government just can not figure out what to do.
My Favorite part of the interview: "Initially, Fannie and Freddie's mission was to help houses be affordable. Now, their mission is to keep housing prices expensive."
Good old Government just can not figure out what to do.
Euro slips on EU debt woes, Asian stocks soft
http://www.reuters.com/article/idUSTRE6482ZL20100512
Good thing we bailed Greece out. I wonder when Santa "EU" Claus is going to do when all the other nations have to be bailed out.
Good thing we bailed Greece out. I wonder when Santa "EU" Claus is going to do when all the other nations have to be bailed out.
China’s Bubble Risk Adds Pressure to Tighten Policy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWKM9PlTsmsw&pos=3
Monday, May 10, 2010
Fannie Lost $13.1 Billion In 1Q, Needs Another $8.4 Billion Infusion
http://www.foxbusiness.com/story/markets/industries/finance/fannie-mae-lost--billion-quarter/
More great news for the real estate market
More great news for the real estate market
Mortgage Holders Owing More Than Homes Are Worth Rise to 23%
http://www.bloomberg.com/apps/news?pid=20601206&sid=allDMOrP8m3M
Probably not a great time to be the real estate market.
Probably not a great time to be the real estate market.
Sunday, May 9, 2010
JP Morgan Price Manipulation in the Silver Market is being investigated
http://www.businessinsider.com/jpmorgan-silver-manipulation-investigation-2010-5
http://www.nypost.com/p/news/business/feds_probing_jpmorgan_trades_in_gZzMvWBqOJpB55M7Rh9vwM
Tick Tock Tick Tock
http://www.nypost.com/p/news/business/feds_probing_jpmorgan_trades_in_gZzMvWBqOJpB55M7Rh9vwM
Tick Tock Tick Tock
Saturday, May 8, 2010
Housing Bubble Explained
http://www.cato.org/pubs/journal/cj29n1/cj29n1-9.pdf
Alot of times with all of the stupid information as well as lack of economic understanding from college professors, people tend to blame capitalism for the crisis. "Wall Street got drunk" according to George W. Bush. This paper clearly explains how it was government involvement (primarily through the Federal Reserve, Congress, and Fiat money) that caused the mess and that we have not had capitalism for a long time.
Alot of times with all of the stupid information as well as lack of economic understanding from college professors, people tend to blame capitalism for the crisis. "Wall Street got drunk" according to George W. Bush. This paper clearly explains how it was government involvement (primarily through the Federal Reserve, Congress, and Fiat money) that caused the mess and that we have not had capitalism for a long time.
Corporate Taxes in the USA
http://www.cato.org/pubs/tbb/tbb_62.pdf
Economically this is a huge portion of what is killing us. We are in a credit crunch, which consists of us not having enough capital saved, so what do we do? Tax corporations at a higher rate than the rest of the world. The world can leave us behind, and slowly but surely they will figure that out.
Economically this is a huge portion of what is killing us. We are in a credit crunch, which consists of us not having enough capital saved, so what do we do? Tax corporations at a higher rate than the rest of the world. The world can leave us behind, and slowly but surely they will figure that out.
Friday, May 7, 2010
Ecuador 60% tax on oil profits.
http://www.marketwatch.com/story/ecuador-lawmakers-vote-for-60-tax-on-oil-profits
Wednesday, May 5, 2010
New Austrialan Tax makes investing in other countries more attractive
http://www.theaustralian.com.au/business/mining-funds-already-going-offshore/story-e6frg8zx-1225862771468
If this was not the most obvious consequence to the 40% "supertax" I do not know what is. Good old Governments, always making such great decisions. I wonder how many companies will be left to take all of those resources "that all Australians own" in the next coming decades. The government can see that with it all sitting underground, it is going to make no one richer. They should have been happy with what they had. I love that in a great depression around the world the Australians decide to raise taxes on the main industry in their economy (not to mention the one industry that has essentially kept them out of participating in said depression/recession/coming inflationary hellhole). Thank you Mr. Rudd. You have truly inspired me.
If this was not the most obvious consequence to the 40% "supertax" I do not know what is. Good old Governments, always making such great decisions. I wonder how many companies will be left to take all of those resources "that all Australians own" in the next coming decades. The government can see that with it all sitting underground, it is going to make no one richer. They should have been happy with what they had. I love that in a great depression around the world the Australians decide to raise taxes on the main industry in their economy (not to mention the one industry that has essentially kept them out of participating in said depression/recession/coming inflationary hellhole). Thank you Mr. Rudd. You have truly inspired me.
Portugal Downgrade imminent
http://www.reuters.com/article/idUSLDE64421G20100505?type=marketsNews
Thank heaven all of this European taking away from USA debt, which is about ten times worse.
Thank heaven all of this European taking away from USA debt, which is about ten times worse.
Tuesday, May 4, 2010
Marc Faber on China and other interesting topics
http://www.youtube.com/watch?v=pnR2OA3A7Cc&playnext_from=TL&videos=qZjwOexCuaM&feature=sub
Interesting look at the state of the market today.
Interesting look at the state of the market today.
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