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    • Mon Dec 1st 02:36 AM
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      Rating: +1 -1
      Commented on:
      Troubled Banks in 1991 Were 25 Times Worse Than Now
      The last time we met the Professor, he was telling us that if you took away CA, NV, FL, and MI, the housing numbers shown this summer, weren't that bad. Before that, I remember him calculating the World Market capitalization at $63T (back in Dec 2007) and concluding that the $500B subprime write down (turned out it was $1-2T, leveraged ten fold) wouldn't do much to the World's economic growth. It was just this big ol' train that could not be slowed down. We were all making mountains out of molehills. But, like the Professor on Gilligan's Island, he could tell you it's a radio, but you can see that it's really two coconuts cut in half, and that he's really just talking to himself. Now he's been asked by "Drill, Drill, Drill" economic lunatics (like Kudlow) to get out there and try to convince everyone that bank defaults aren't a problem...um...use the sheer number of them compared to other periods of time. Yeah, that's the ticket! So what if they have been propped up by $8T of various loans, programs, capital injections and other shenanigans. Every time you post, I can literally count one Mississippi, two Mississippi, right up to around three months, and then the wheels fall off. Sheila Bair asked for the cash from Paulson because she just saw her troubled bank list START to go parabolic. With the Alt A mortgage refinancings starting to peak right now, just count the number of days that defaults become foreclosures, under various State rules, and this kind of Pollyannish statistical voo-doo will look hilarious, at that future time.
      View article »
    • Tue Nov 25th 02:48 AM
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      Rating: 0 0
      Commented on:
      Battling the Doomsday Machine
      Judging by the title, I was expecting cool, shiny robots with Austrian accents. A bit disappointed. Solid post otherwise.
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    • Tue Nov 25th 02:43 AM
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      Rating: 0 0
      Commented on:
      Wall Street Journal: Homebuilders Want $250 Billion Stimulus
      No inflation worries. It's deflation from here on out, so print away.
      View article »
    • Tue Nov 25th 02:42 AM
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      Rating: 0 0
      Commented on:
      Why Citigroup Imploded
      I hope Prince Alaweed is correct, since there is FAZ and I expect some saw-toothing to occur.
      View article »
    • Sun Nov 23rd 17:36 PM
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      Rating: 0 0
      Commented on:
      China and Iran Switch to Gold - Will U.S. Investors?
      Has China even begun taking physical possession? What until they do.
      View article »
    • Sun Nov 23rd 17:02 PM
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      Rating: +1 0
      Commented on:
      Will the Saudis Buy Gold and Silver Shares Now?
      That's a ten-four, good buddy.
      View article »
    • Sun Nov 23rd 15:24 PM
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      Rating: 0 0
      Commented on:
      Opportunities Abound in Gold and International Assets
      Cue goldbugs (pro) and shills (con) with their never ending debate over precious metals. Bonus coverage of the Plunge Protection Team, Federal Reserve conspiracy, JP Morgan and HSBC shorting efforts, Commitment of Traders' Reports, Deflation vs. Inflation, and Peter Schiff. Look for comparisons to Japanese Deflation of the 1990's, various bubbles, the Great Depression, Weimar Republic, and End-of-World predictions.
      View article »
    • Sat Nov 22nd 17:36 PM
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      Rating: 0 0
      Commented on:
      Forex Interplay: Traders Continue to Punish the U.S.
      The whole discussion about gold and silver, yeah or nay, is really getting a bit overdone. It's popping up in every discussion thread these days which can only lead me to predict that.....(enter diatribe here).

      Seriously though, I have a silver position, but view it as a commodity. It's neither manna from heaven nor is it worthless. What I would advise to people, worried about both deflation or inflation, is to secure your food source for a year. Use the lowering food prices to stock up on packaged foods, rotate your pantry's cans. Common sense for everyone living in a "tornado alley", hurricane exposed coastlines, wildfire prone zone, or within the Canadian missile envelope (oh, they're sneaky, eh?).
      View article »
    • Fri Nov 21st 00:37 AM
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      Rating: 0 0
      Commented on:
      Berkshire Hathaway Credit Risk, Index Puts Are Overblown Worries
      Here's the conspiracy....A small group of powerful Wall Street players (i.e. Goldman Sachs), get an agent in place, Secretary of the Treasury Hank Paulson, and realize that the impending sub-prime Ponzi scheme will eventually unwind all capital, taking down their competitors and providing them with an opportunity. It goes like this....the panic following an unwind will provide the "banking sector" (i.e. Goldman Sachs) the ability to secure federal funds (taxpayer money), in large supply, no questions asked. The bank (GS) hoards the cash, and even pays out dividends and bonuses (audacious) while doing little to stop the mechanism that is taking the stock market down foreclosures. The panic will also allow investment banks the excuse to initiate hedge fund loan calls and implode their portfolios. This allows companies like GS to drive down stock prices. The stock price panic allows those with money, especially borrowed money of huge amounts ($700B? but a portion will do) to buy these stocks for pennies on the dollar, with other people's money, recovering their portfolios for generations to come. Genius.

      This explains why everything related to the stock market seems strange and unpredictable. The manipulation relies on contrarian market movements. The normal players like Kerkorian, Adelson, Sovereign Wealth Funds, Buffett, Pickens, Falcone, Gendell, etc. will lose money, not because their research is flawed, or their supply/demand models are wrong, but because they are acting as expected, and the expectation fuels the mechanism upon which the conspiracy is based. Interesting, eh?
      View article »
    • Sat Nov 15th 14:42 PM
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      Rating: +3 -1
      Commented on:
      UltraShort ETFs: At a Tipping Point?
      I saw the face of Jesus in one of the charts. No, wait, that was my potato chip. Never mind.
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    • Thu Nov 13th 18:42 PM
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      Rating: 0 0
      Commented on:
      Fast Money Recap: Intel's Chips Are Down (11/12/08)
      Tim Seymour, great call. Would have bought EEV at over $100 only to see it drop to $75 within three hours. NIce, and you do this for a living. Macke, sitting right next to you said he's selling SDS (and was big time correct). Always listen to bald guys. We don't care how we look when we talk, so our words mean more.
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    • Thu Nov 13th 06:52 AM
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      Rating: 0 0
      Commented on:
      Paulson's Shocking Change of Heart
      Chinese decided to take care of their own infrastructure vice buy our treasuries, so we decided to protect our own interests instead of propping up the dollar's value, for those holding our paper. A bit of chess, vice the usual checkers.
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    • Wed Nov 12th 18:08 PM
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      Rating: 0 0
      Commented on:
      Roger Wiegand: 'Severe Bull Market' Ahead for Gold
      Follow-Up: Once again, the prophetic and pathetic Roger Wiegand was wrong.

      seekingalpha.com/searc...

      As all of his predictions have been this year (link above). If we ignore him and avoid making eye contact, maybe Roger will just go away....
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    • Mon Nov 10th 12:33 PM
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      Rating: 0 0
      Commented on:
      President-Elect Obama and the U.S. Dollar
      "is like worrying about a helmsman change on board the Titanic"....was the best line I've heard in a long time. That got me rolling. So true.....
      View article »
    • Wed Nov 5th 23:45 PM
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      Rating: +1 0
      Commented on:
      Silver Production Falls by 70%
      Still no other comments on the 70% reduction in volumes? All you need to do is read the headlines of the silver companies as they report their quarterlies.

      www.goldreview.com/sil.../

      The silver companies continue to report that their volumes are at "record" levels this quarter (Couer D'Alene, First Majestic, International Minerals, Fortuna, Silver Standard, and on and on and on....).

      As always, the "Silver Surfers" like Morgan continue to construct a world based on conspiracy, and conjecture, fed with fear.
      View article »