By John Galt October 5, 2011 I really did not want to comment on this. But with tonight’s “breaking news” on some blogs blowing their reputation (yeah, you BI), I feel that I must say my piece and piss off anyone who feels that chihuahua-hump-your-leg-desire that some ignorant people feel when the Marxists make a point they agree with. If you’re intelligent, you’ll get it. If you’re a small annoying piss-ant dog, get hump your owner. To call into the program dial: (877)213-6404 or...
Folks, if you have me in your email address book at johngaltfla@yahoo.com, please change it to: johngaltfla@aol.com The new “upgrades” to YahooMail are about as useful, functional, and (String of obscenities deleted) so they are losing my business. Thank you.
By John Galt October 5, 2011 – 08:30 ET Ten days ago I warned of the insanity completed by years of historical ignorance and the mistakes of 1929 in the article: The Historical Circle of Economic Mistakes is now Complete A fascinating story from this morning’s print edition of the Financial Times echoes my entry above: BlackRock joins call for action on ETFs (registration required to read the full article) The concerns expressed by BlackRock are terrifyingly similar to the concerns expressed in 1928-1929...
By John Galt October 5, 2011 – 07:50 ET If I were a betting man, wait a second I am one, I would wager we see a weak rally this morning at some point during the early session on weak volume. Then as the afternoon grinds on we begin to drift lower finishing slightly above yesterday’s close leaving a damning “Hanging Man” pattern for the markets to digest (See Investopedia explanation at this link). This would be a perfect mirror to parallel the disaster...
By John Galt October 5, 2011 – 07:20 ET In a story just published by Reuters via CNBC, the statement was made that European banks need at least € 266 billion for recapitlization and that the IMF would engage in assisting the European Union in this effort. As usual, follow the flies. The problem is that the flies circling the B.S. tells the truth about this “story” as the IMF is providing a best case scenario with the € 266 billion figure. Dexia itself...
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