By John Galt August 18, 2011 – 21:45 ET And with this posting, I shall go to bed early as I fear things are going to spiral a tad tomorrow. In the mean time, I took the sub-headline from the UK Telegraph’s Ambrose Evans-Pritchard column tonight as it signals the ultimate demise of the “West” as a force in the world economy through the end of this decade if he is correct. Read the full story below by clicking on the title: Bond markets signal…
By John Galt August 18, 2011 – 21:32 ET Uh, the fear trade is not only on but accelerating. Here is a 1 week chart of the Euroswiss 3 month futures which as they move further above 100, they yields move further into negative territory: The more disconcerting question is this: What do the world’s extreme millionaires and billionaires know that we don’t?
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By John Galt August 18, 2011 – 17:30 ET Uh, I thought it was my vodka martini but no, it is FDIC Thursday so this bank must have really, really, really, sucked. Here’s the poop with the link from the FDIC home page: Failed Bank Information Information for Public Savings Bank, Huntingdon Valley, PA Introduction Press Release Acquiring Financial Institution Question and Answer Guide Banking Services Loan Customers Possible Claims Against the Failed Institution Priority of Claims Dividend Information Brokered Deposits Please be advised you…
By John Galt August 18, 2011 – 16:45 ET Repeat after me: Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Gold is a barbaric but profitable relic. Of course buy and hold in a “gasp” inflationary environment does work if it is gold and not stocks. Here is the performance of COMEX gold versus the S&P 500 over the last 5 years (chart via WSJ/BigCharts.com): I’m not a graduate of M.I.T. but…
By John Galt August 18, 2011 – 16:30 ET Today is going to leave an even bigger mark. For this month’s fun and games to continue is one thing. To beat the crap out of investor’s, poop on the confidence of our citizens, take a dump on Obama’s first day of vacation, and take a Brontosaurus sized turd no top of Turbo Timmy’s 50th birthday, well, let’s just say I’m glad I’m poor, not married to the D.C. – Wall Street elites and get to…
By John Galt August 18, 2011 – 05:15 ET While the American side of the world slumbered, something very serious began to occur. It would appear that a European liquidity crisis is indeed beginning to accelerate. Per a Bloomberg story, Denmark’s regional banks are dumping assets in a rush to generate cash (Click on this link to read in full: Denmark’s Regional Banks Dump Assets) as they attempt to escape the international funding market. This could be a further indication that people are diving into…
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