17/07/2011

A Chinese Example of American Propaganda

By John Galt July 17, 2011 It’s almost as if Steve Liesman was reading the report himself in your living room on Bubblevision Channel 1. However this is not about the financial propaganda the U.S. media portrays using selective data presentation to spin it so Der Buglehead looks good, this is about the ChiComs learning how the game is played. As markets open around the world tonight there is a little tidbit of information that was presented with two wildly different twists of the same data. FYI, “FDI” = Foreign Direct…


China Fears MANBEARPIG: Launches Own Carbon Emissions Trading Project

By John Galt July 17, 2011 So for some strange reason, the world’s allegedly third largest economy has suddenly decided to fear the MANBEARPIG (MBP), a mythical creature  created by the envirocommies and the ultimate Nobel Prize winner who demonstrates that Madoff was a piker by comparison. The MBP has convinced the old time commies of, well, Communist China, that controlling the trading of emissions which have no actual financial value is a fantastic test bed for American and European modified Marxism where banksters are allowed to rape industrialists and the…



7/17 1630 EDT: Swiss Franc Power Surge against Euro and Dollar

By John Galt July 17, 2011 Right out of the gates, everyone seems to be fleeing for a flight to safety with the FOREX open (Quotes from NetDania) and into the Swiss Franc out of Euros and Dollars: Down over 1% on the open and as much as 1.23% into the 113 range. Against the dollar it has been down over 0.8% and the gap down is somewhat disturbing: These types of moves usually are precursors to some sort of major financial event as the big money flees to safety while…


Islamist Summer of Rage Sunday News Summary

By John Galt July 17, 2011 The issues arising after the “Arab Spring” have re-emerged into a summer of Islamist rage, especially in those nations once romanticized by the Western mainstream media but as some of us tried to warn, never romance the stone when it has been whipped from a slingshot towards one’s face. The lack of reform is neither shocking nor unexpected in most of the nations where violence, protests, and economic duress have been ongoing for months now. This is a brief review of the stories since Friday…


Karachi, Pakistan: Still a Tinderbox, 8 more dead in Violence today

By John Galt July 17, 2011 From the Daily Times of Pakistan today: Karachi target killings claim eight lives By Atif Raza KARACHI: Eight people, including a senior activist of Pakistan People’s Party (PPP), were shot dead in a fresh wave of target killings in the metropolis on Saturday. Senior PPP activist and President Pakistan International Airline CBA labour union and his friend were shot dead in a target killing incident at Munawar Chowrangi within the jurisdiction of Gulistan-e-Jauhar police station. This story and refrain has been ongoing for almost a…


Moody’s Butchers RMBS with multiple Downgrades

By John Galt July 17, 2011 While there are some upgrades and outlook changes sprinkled into the mix, this list from my Twitter feed from Moody’s of actions taken on Friday July 15th indicates there was no mercy and the actions that I have made larger indicate there could be more pain to come for the parent company. Overall it just validates the lack of solutions to the deteriorating credit quality of MBS, both residential and commercial, throughout the U.S. market and how the joke known as “Tier 1 Capital” will…


CalOkie’s FDIC Bank Failure Data Page has been Updated

By John Galt July 17, 2011 To follow the updates you can click on the link in the upper right hand corner under the Economic Charts, Data, & Links block, or just click on this link. It will be fascinating to see if the pace picks up after the debt ceiling nonsense is concluded. List of FDIC Banks which failed this week: One Georgia Bank Atlanta, GA High Trust Bank Stockbridge, GA First Peoples Bank Port St. Lucie, FL Summit Bank Prescott, AZ


7/17 Sunday Morning Stories of Interest

By John Galt July 17, 2011 Egypt’s Military Aims to Cement Muscular Role in Government -New York Times Heavy casualties reported in Libya -Reuters Yemen army, tribes in offensive on militants in south -Reuters Foreclosure Protesters in Spain’s Cities Now Go Door to Door -NY Times Obama angers China over Dalai Lama -The Australian Tunisian police fire in air to disperse rioters -Reuters Rebekah Brooks arrested over News of the World phone hacking -U.K. Telegraph Real estate: As banks shed debt, investors swoop in -Arizona Daily Star US debt talks threaten…


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