by John Galt June 10, 2012 23:40 ET Hey, remember this guy? Who could ever forget that awesome prediction. Along with the Dow 20K guy, of course. Someday soon, with the Bernank’s help, they might be right. But for practical purposes, let’s review the upcoming Spanglish rally created by the FedECBJCBPRAYFORAMIRACLEOHGODWEAREALLGOINGTODIE bank of the world. The S&P 500 has some serious headwinds as Herr Obummer likes to call them: A break through the 1360ish area with major…
by John Galt June 10, 2012 22:20 ET Throughout my years of reporting on this economic disaster, the one compelling data point has not been housing, inflation, gold purchases by central banks, deflation, capital flight, nor unemployment. The truly telling figure has been the departure of the irreplaceable element from any economic structure, that being the loss of human capital, the one element which can save a nation or destroy it. For a historical example, simply look at the defeat of tyrannies of…
by John Galt June 10, 2012 20:55 ET Just as the Spantarp seems to has pacified the equity traders for twenty-four hours, the news heading into the Greek elections indicates further issues that the mainstream bubblemedia and the European Union wishes not to discuss. From the Greek newspaper Ekathimerini: Withdrawals up again due to uncertainty By Yiannis Papadoyiannis The political polarization and uncertainty regarding Greece’s position in the eurozone generated a fresh spike in bank withdrawals last week. In…
by John Galt June 10, 2012 19:58 ET Courtesy of the excellent blogger documenting the ongoing disaster from the Fukushima nuclear nightmare, Fukushima Diary: Foreigners leaving Japan The number of foreigner’s registration (so-called “Alien registration”) decreased by 56,000 people from 2010 to 2011, MInistry of justice announced on 6/8/2012. It was 2,079,000 people in total. It has been decreasing in these 3 years but especially in the 3 prefectures of disaster area, Iwate, Miyagi and Fukushima, it decreased by 14.3%,…
by John Galt June 10, 2012 19:30 ET Ambrose Evans-Pritchard figures it out once again as the pathetic announced underwhelming bailout of Spain amounts to nothing more than a march in the woods for the new financial spring time financial Wehrmacht assembled by the German led European Central Bank. The dirty dark secret the Spanish media wants to mask at the request of the current government is as simple as it was for the Greeks and Irish: “Don’t ask, don’t tell, and…
by John Galt June 10, 2012 13:50 ET The news from Ireland and the idea that the PIIGS will find nirvana with each bailout and an automatic path to recovery continues to be destroyed by actual real statistics and the harsh reality of the severity of the Great Depression of 2008. A report from Deutsche Bank quoted in this morning’s Irish Independent states that there are 289,451 empty homes plus an additional 15,000 vacation homes across this small nation. When taking average population…
Recent Comments