Daily Archives: 14/08/2011

Is this the sign that Hong Kong’s Real Estate Bubble is about to burst?

HONGKONGAERIAL

By John Galt August 14, 2011 – 22:55 ET The story seems eerily familiar to me, as when the Florida real estate bubble began to burst, people walked away from contracts even if it mean sacrificing deposits and rightfully offered the primary reason for abandoning their commitment was that they felt the top was in and would wait for the price correction to finish before re-entering the market. Numerous condominium complexes and subdivisions were left on the drawing board leaving vacant lots everywhere or worse,…

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The ChiCom Attack on American Fast Food Brands Begins

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By John Galt August 14, 2011 – 22:30 ET Maybe they got the idea from Michelle Obama, maybe not, but when the Communist Party decides to launch an attack on an industry in China, the companies had best pay attention and hope this isn’t about geopolitics. The story from this morning’s front page of the People’s China Daily, essentially the government owned newspaper and propaganda arm, for August 15th should have U.S. politicians getting nervous as the fast food giants will retaliate not against the…

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Here Comes the Rice Shortage Story Again

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By John Galt August 14, 2011 – 22:00 ET Don’t worry! The experts keep telling us this doesn’t look like 2008 and can not possibly be a repeat. However there is this story from the August 14th edition of Bloomberg/BusinessWeek (Click on the title to read full article): Rice Set to Climb as Thailand Imposes Curbs, U.S. Crop Shrinks Inside this story by Luzi Ann Javier and Supunnabul Suwannakij, the headline that rice stockpiles may increase by the smallest amount in five years pales to…

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CalOkie FDIC Bank Failure Page Update for 8/12/11

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By John Galt August 14, 2011 The weekly update for CalOKIE’s page with the bank failures, charts and more has been updated but alas, only one this week as the FDIC gave their troopers a week off. Except for the poor souls sent to Kansas. To view the latest charts, click on the link in the upper right hand side or on this link to access the page.  

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Germany & France to PABFHIIGS: No Eurobonds

EU-Parliament

By John Galt August 14, 2011 – 15:55 ET Breaking on the Financial Times website this afternoon (Registration required to read full article; click on the title to register and read): Germany and France rule out Eurobonds This nightmare is about to accelerate to an untimely demise for the PABHIIGS (Portugal, Austria, Belgium, France, Hungary, Ireland, Italy, Greece, and Spain) and the European Union experiment. On September 23rd, the German Parliament votes on the bailout package and if the German media is any indication, this…

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7th Tropical Storm of Season forms: Bermuda meet Gert

GERT

By John Galt August 14, 2011 – 15:20 ET The seventh named storm of the season has formed but Gert is no threat to the US and more like an afternoon annoyance to the well prepared citizens of Bermuda. Enjoy the wind and rain my friends and listeners on the Rock. This will be the only thread on the storm and advisory I shall post, and as usual, the NHC satellite photos will update automatically. And the infrared version: Here is the most recent advisory…

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8/14 AEP: ECB is euroland’s last hope as bail-out machinery fails to resolve crisis

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By John Galt August 14, 2011 – 15:15 ET Well, tonight’s edition from Ambrose Evans-Pritchard is a depressing look at the reality facing the floundering European Union. All indications are that it is about to implode and the markets can smell it. The latest from the UK Telegraph (Click on the title to read the full article): ECB is euroland’s last hope as bail-out machinery fails to resolve crisis The leaders of Germany and France have three bad choices as they decide whether to save…

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Our Ally at Work: Pakistan gave China access to Top Secret US Helicopter from Osama Raid

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By John Galt August 14, 2011 – 13:15 ET The story just broke an hour ago from the Financial Times by Anna Fifield (registration required): Pakistan gave China access to US helicopter From the article: “The US now has information that Pakistan, particularly the ISI, gave access to the Chinese military to the downed helicopter in Abbottabad,” said one person in intelligence circles, referring to the Pakistani spy agency. The Chinese engineers were allowed to survey the wreckage and take photographs of it, as well…

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More Evidence of the impending Recession: Container Shipping Companies Worried about Decline

By John Galt August 14, 2011 – 12:00 ET As the talking heads begin their next relentless wave of “buy and hold” recommendations along with the “underlying economy is sound” nonsense while dismissing the potential for a recession just like they did in 2008, more evidence is appearing on the horizon that indeed world economic conditions are deteriorating. On Friday a story appeared in the Canadian news paper, The Globe and Mail, via the Financial Times of London which  is the clearest signal yet that…

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More MENA Violence: Suicide Bombing in Algeria injures 29

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By John Galt August 14, 2011 – 09:27 ET The story of the violence in the Middle East and North Africa has faded from popularity because the cable news honks and newspaper types have no agenda to promote for the regime any longer yet the attacks, the bloodshed, and the repression continues. In Algeria earlier today, a bomb attack injures 29 including 8 policemen per a report from AFP. This region is still a tinder box yet our media ignores it. When Ramadan comes to…

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BREAKING 8/14 08:45 ET: RINO Pawlenty Quits GOP Presidential Race

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By John Galt August 14, 2011 – 08:45 ET Just broke on Fox News via AP. It’s not a loss because Laura Ingraham destroyed his chances back in March when she exposed his neo-con tendencies. Ah well, he can get a job now at FNC as a “political consultant.” For a trip down memory lane exposing his lack of qualifications to run this nation, here is the interview which derailed his campaign from the Laura Ingraham Show:

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