By John Galt July 20, 2011 Tonight’s edition is a look at what appears to be a crisis which will come to a head this weekend. Refer back to the chart earlier today on this site with the Greek 2 year bonds with a 40%+ yield. That can not last. From the U.K. Telegraph tonight, in print tomorrow by AEP: Franco-German axis loses its wheels
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By John Galt July 20, 2011 Well, you’re first guess is wrong, but not for long….. Just getting you warmed up for when the dateline of the story says the “United States of America” and the rest of the world replies with a great big “oh crap” as this story sounds like the U.S. one day soon. From Reuters: Riots in Malawi as protesters demand Mutharika leave Wed Jul 20, 2011 7:09pm GMT By Frank Phiri BLANTYRE (Reuters) – Riots broke out in several cities…
By John Galt July 20, 2011 Until 4 pm today the Yen was surging against the US Dollar as it appears another flight to safety is underway, including a flight away from the Euro and Dollar thus distorting the normal flight to safety most perceive in the markets. If the Yen breaks 78 and the BoJ decides to stand on the sidelines while capital floods into their currency along with the Swiss, it is a direct indication that the default risk in Europe has grown…
By John Galt July 20, 2011 The envirocommunists first came for the smokers. And no one spoke up. Then the envirocommunists came for the V-8 engine, then the V-6 engine. And no one took a stand. Then the envirocommunists came for lead fishing sinkers, lead ammunition, and made painters spend tens of thousands of dollars to repaint houses that had lead paint in them. And no one cared because it didn’t impact a thing in their lives unless they had to pay for it. The…
By John Galt July 20, 2011 There are no sacred cows tonight. If you’re an Islamofacist apologist? You’ll be pissed off. If you’re an Obama apologist? You’ll be pissed off. If you’re a Republicrat? You’ll be REALLY pissed off. And if you’re one of those stray sheeple drifting into my lair, you’ll be in the fetal position in less than 90 minutes. To call into the program dial: (877)213-6404 or (812)307-4363. Just click on the banner below to find the various audio players to listen…
By John Galt July 20, 2011 Yesterday the Census Bureau updated the Residential Construction data with their monthly report with data from June 2011 and the media fawned and screamed “oh wow, it’s improved! We’re saved!” That nonsense of course can be invalidated by bouncing a bowling ball off of a concrete floor and the shock is that “wow, it bounces” unless of course it hits someone’s foot in which case the bounce is not that high but the screams are pronounced. Thus the housing…
By John Galt July 20, 2011 The economic situation began to deteriorate in February of 2007 as mid-sized lenders in the mortgage and finance industry began to collapse as has been documented for years now by this blog and many others. However the situation which indicates the strongest evidence of a lack of recovery for the economy as a whole has been the yields on the 4 week (1 Month), 3 month, and 6 month Treasury Bills which have been trading near zero for years…
By John Galt July 20, 2011 The Russian Federation which had so much hope for a bright future went Communist again today. No longer can it be said that they are seeking freedom, as if they ever were, or had a government which believed in Capitalism. Freedom goes dark once again as this story from RussiaNews.net outlines this morning: Medvedev signs bill classifying beer as alcohol Russia News.Net Wednesday 20th July, 2011 Russian President Dmitry Medvedev has signed a bill officially classifying beer as an…
By John Galt July 20, 2011 But don’t worry, they won’t default according to the cheerleaders. From Bloomberg:
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