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Daily Archives: 13/06/2011
News that will be ignored by the MSM: Another Riot in China
By John Galt June 13, 2011 From Reuters this morning: Police use tear gas to quell riot in southern China The importance of this is not that it was reported but that a riot occurred at all. It would appear that the long simmering conflict between the numerous manufacturers with the migrant workers from the interior of China has gone into a full boil. The key statement from the article: The rioters smashed windows, set fire to government buildings and overturned police vehicles, bringing to…
BREAKING NEWS: Jordan’s King Abdullah II Motorcade Attacked
By John Galt June 13, 2011 This is a major escalation by the Islamist movement in the country of Jordan and a slap in the face to pro-Western allies like Saudi Arabia and the other nations of the region. Read the full story from Al-Arabiyah here: Jordan King’s motorcade attacked with stones and empty bottles in southern city I wonder if the House of Saud will spend $72,000 per citizen in Jordan now to keep its northern border secure…..
Is Regions Financial the next Indymac?
By John Galt June 13, 2011 This story from the Wall Street Journal this morning: Bank Probes Its Executives appears to indicate that the insiders who did not sell after the 2009 crash and burn may well regret their inaction. Region’s Financial is facing a slew of major obstacles including almost $4 billion in NPL’s (Non-performing loans), a real estate portfolio in Florida which is deteriorating in both credit quality and price, and not receiving regulatory permission from the Treasury Department to repay the $3.5…
So Much for China Bailing us Out: Chinese Lending Slows, Growth Stumbles
By John Galt June 13, 2011 The question becomes: Is this the ChiCom bubble finally bursting? It just might be. This story from Bloomberg in the last half hour should give everyone with a legitimate journalistic viewpoint in Bubblevisions one through three a wake up call: China Lending Tumbles, Signals Slowing Economy The slowdown in Chinese economic activity reaches far beyond real estate agents and developers. The American model of moving manufacturing, management talent, an resources to mainland China could prove to be a fatal…
The Federal Reserve’s New Agenda
By John Galt June 13, 2011 The conspiracy theories are spiraling out of control but the reality of the failure of debt monetization and decades of “quantitative easing” since 1973 are starting to impact the planning and execution of the Federal Reserve from that of proactively attempting to influence economic outcomes to one of self-preservation. The apparent program for decades was for the Federal Reserve banking system to expand its reach far beyond America’s shores and work with other banks to create an international cartel…
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