by John Galt June 18, 2012 22:30 ET This is getting a little weird. In the dead of summer, suddenly there is a surge in FDIC bank related bank failures and a large number of them continue to be in the Southeastern U.S. despite the fact that Arizona, California, and Nevada were hit just as hard by the real estate collapse. The two charts are feature below illustrate the disparity this year versus the rest of the n ation. Click on this…
by John Galt June 18, 2012 19:15 ET From Al-Jazeera just a short time ago: The full article is available at this link: Egypt’s Muslim Brotherhood calls for protests The full text of the SCAF (Supreme Council of the Armed Forces) statement via Ahram (full story at this link): The new addendum to the 30 March, 2011 military-authored Constitutional Declaration was released late Sunday by the Supreme Council of the Armed Forces (SCAF) in the official state gazette,…
by John Galt June 18, 2012 18:30 ET Rodney King was found dead at the bottom of his swimming pool on Sunday at approximately 5:30 a.m. according to media reports. While the actions of the Los Angeles Police Department in the original beating was inexcusable and sadly repeated on Americans of all races since that time via the taser and the baton, the media created a celebrity for racial division and was one of the primary drivers in causing the massive riots…
by John Galt June 18, 2012 13:05 ET Everyone break out your ASE 1000 party hats because any day now this sucker is going to double! Or not. The massive 3+% rally is on this five year chart, uh, er, somewhere on the chart below provided courtesy of Bloomberg.com; one might want to grab a magnifying glass to find it. To quote Jim Cramer “BUY! BUY! BUY!” Because there are still thousands of suckers dying to sell to anyone…
by John Galt June 18, 2012 05:15 ET Whew! That was close. Everyone thought that the Greeks would go hard line Marxist and instead continued with their tradition of electing a lightweight Marxist so the market futures shot up last night because nothing was solved and the economy of Greece still sucks. Then the futures minions woke up this morning and remembered that Spain was a much larger problem and the “bailout” there was a joke: (chart from Bloomberg.com) The U.S.…
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