By John Galt August 11, 2011 -21:15 ET The latest from Ambrose Evans-Pritchard in the ongoing saga of the European Union’s decline and fall. Click on the title below to read the entire entry from the UK Telegraph: Italy, EMU and the Evil Eye
Daily Archives: 11/08/2011
Europe Bans Short Selling in Belgium, France, Italy, and Spain
By John Galt August 11, 2011 – 17:36 ET Well, apparently these people do not understand that 2008 sucked and who was in charge at that moment. Here is the statement from the European Securities and Markets Authority in its full glory:
Italian Rally Fails, Another Surrender is Imminent
By John Galt July 11, 2011 – 09:58 ET You would think I was talking about another campaign in the desert against the British during World War II. After all that hard work to rally towards the close on a rumor of victory over the evil banksters, well, boom, is is now down almost 1% or 141.52 as of this entry.
8/11 The Big Non-Story: USD v. CHF
By John Galt August 11, 2011 – 09:50 ET The big non-story which will be blown out of proportion by the Bubblemedia will be the move of the US Dollar versus the Swiss Franc which so far has a 4% plus decline in the Swiss currency in trading this morning as this chart from ForexPros.com demonstrates: The problem is perspective. Now, let’s review the chart since the top of the equity markets during the spring and note the candlesticks which have done nothing with today’s…
8/11 News Update: U.S. & Canadian Trade Deficits widen
By John Galt August 11, 2011 – 09:30 ET The fact that the U.S. trade deficit widened to $53.1 billion due to a drop in exports is not a shock unless you’ve been living under a rock (Read the entire Census Bureau release by clicking on this link). The chart from the government should not come as a shock to anyone as our nation is no longer the export dynamo we once were: The surprising report was the one from Canada which indicated a CA$1.6…
CalOkie FDIC pages Update-Plus one additional News Story
By John Galt August 11, 2011 The graphs are updated as well as a link to a story about something completely different: A bank QUITTING the FDIC/Federal Reserve system. Check it out by clicking on this link or under the Economics chart pages in the upper right hand corner of this page.
Weekly Unemployment Claims (NSA) Increase by 10,000
By John Galt August 11, 2011 As usual the weekly claims seasonally adjusted from the previous week were adjusted back up over the 400,000 mark so the headline can reflect a “drop in unemployment claims” which has now become the butt of jokes from talk radio to even the Bubblevsions openly mocking the Department of Labor’s weekly report: (Click to enlarge/reduce) The weekly chart for non-seasonally adjusted claims barely reflects the increase of 10,000 in the claims to 351,370 but it is noteworthy if we…
And Now Europe Goes 2008: Considers ban on All Short Selling
By John Galt August 11, 2011 – 08:23 ET The NY Times is breaking this story now on their business pages (click on the title to read entire story): Europe Considers Ban on Short Selling By STEPHEN CASTLE AND LOUISE STORY BRUSSELS — A European market regulator is considering recommending a temporary ban on negative bets against stocks across the continent, in an effort to stop the tailspin in the markets, according to two people with knowledge of government discussions. The European Securities and Markets…
Futures Reverse as Asia Sends Warning Shot across Eurozone
By John Galt August 11, 2011 – 08:11 The futures were skyrocketing overnight with the S&P up well over 15 points early this morning in Asian trading then comes this story from Reuters at 7:54 a.m. ET: Exclusive: One bank in Asia cuts, others review credit The key portion of the story: The head of treasury risk management for Asia at one bank in Singapore — which has a significant presence across the region — said their credit lines to large French banks had been…
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