By John Galt August 28, 2011 – 23:10 ET From Reuters: Egypt reduces size of T-bill sale Sun Aug 28, 2011 11:49am GMT EXERPTED: The central bank sold 2 billion pounds of 91-day T-bills, the same amount it had offered, on behalf of the ministry. The average yield rose to 11.995 percent from 11.928 percent at last week’s auction. It sold only 2 billion pounds of 266-day T-bills, instead of the 3.5 billion pounds it had asked for. The average yield rose to 12.981 percent…
By John Galt August 28, 2011 – 22:45 ET From the South Korean news agency Yonhap August 29, 2011: S. Korea’s rice output to hit 10-year low this year SEOUL, Aug. 29 (Yonhap) — South Korea’s rice production is forecast to hit a 10-year low this year due to shrinking farm land and lower yields caused by unfavorable weather conditions, a state-run think tank said Monday. According to the Korea Rural Economic Institute, rice production is expected to reach 4.12-4.24 million tons this year, down…
By John Galt August 28, 2011 – 22:00 ET I for one, do not blame them in the least. Despite reports earlier tonight of two Greek banks merging to “strengthen” the system there, the fears of a potential Lehman Brothers style event are rampant among the insiders of the world financial elites. The nation of Hong Kong which suffered greatly during the Asian Tiger crisis of the 1990′s created a system where sensitivities to foreign bank issues and investment in region requires extra monitoring by…
By John Galt August 28, 2011 – 20:20 ET While America and the northeastern states are fascinated with a tropical storm that while tragic, was minimal in economic impact overall, one of the largest shipping companies in the world reported their H1 2011 earnings and it should give everyone a moment to reflect on the probability of a Q3 recession beginning in September of this year as I have postulated for months now. The report from the communist Chinese majority owned shipping corporation COSCO was…
By John Galt August 28, 2011 – 16:05 ET Enough Irene and back to the other storm, brewing quietly but stronger in Europe. Ambrose Evan-Pritchard points out in today’s commentary from the UK Telegraph the dangerous road Germany is traversing with the leadership of Angela Merkel hanging in the balance. It is a must read as it highlights the point I have been making of the nature that this coming September will be “different this time” as many major financial issues coalesce in one point…
By John Galt August 28, 2011 – 14:45 ET And this should just about close up my coverage of Hurricane Irene….
By John Galt August 28, 2011 – 09:15 ET This is a very minimal tropical storm with little threat to life and limb thus this will be the only posting on this system. The Bermuda government has issued a tropical storm warning and that should be about the extent of the threat. The satellite photo’s below exhibit why this is such a minimal threat: NHC advisory #1 (only one I’ll be posting): 000 WTNT31 KNHC 281213 TCPAT1 BULLETIN TROPICAL STORM JOSE SPECIAL ADVISORY NUMBER 1…CORRECTED…
By John Galt August 28, 2011 – 09:11 ET I smell a whole lot of “I survived Hurricane Irene” with the New York City outline in the background t-shirts heading for the donation bin…. 0900 EDT update from the NHC: 000 WTNT64 KNHC 281302 TCUAT4 TROPICAL STORM IRENE TROPICAL CYCLONE UPDATE NWS NATIONAL HURRICANE CENTER MIAMI FL AL092011 900 AM EDT SUN AUG 28 2011 …CENTER OF IRENE MOVES OVER NEW YORK CITY… REPORTS FROM AN AIR FORCE HURRICANE HUNTER AIRCRAFT AND NATIONAL WEATHER SERVICE…
Recent Comments