by John Galt June 25, 2012 11:59 ET All one needs to know about today’s disaster markets in one Tweet: I just wonder if he was short the Athens Stock Exchange or any participating financials before he announced the resignation, as the corruption there reigns supreme: (chart from Bloobmerg.com) If anyone thinks this chart is ugly, take a moment, go to Bloomberg and pull up all of today’s European and Middle East indices. It’s a bloodbath.
by John Galt June 25, 2012 10:40 ET The U.S. stock markets this morning are sending a major warning signal this morning and the S&P 500 is screaming the loudest: A break below the 1296 to 1298 with over 1.7 billion shares on the NYSE is one of the most negative signals heading into the end of the month anyone will ever see. It opens the equity markets up for a 10-15% correction, especially if the S&P 500 closes below the…
by John Galt June 25, 2012 10:19 ET Breaking hard on all wires now. In a stunning defeat (again) for the Obama administration, a key portion of the Arizona immigration law, SB 1070, has apparently been upheld by the U.S. Supreme Court in a split decision where the key portion of the law, Section 2b allows state and local police to determine status of a suspected illegal alien. This is a validation of the actions by one Sheriff Joe Arpaio in Arizona. Unfortunately,…
by John Galt June 25, 2012 05:00 ET Isaiah 17 1The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap. 2The cities of Aroer are forsaken: they shall be for flocks, which shall lie down, and none shall make them afraid. 3The fortress also shall cease from Ephraim, and the kingdom from Damascus, and the remnant of Syria: they shall be as the glory of the children of Israel, saith the LORD…
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