Stacy Summary: If we are at the tipping point as described in the first headline story, then look for statistics (as per Mish’s second headline story) to enter deeper and deeper into the Twilight Zone . ..
HSBC forecast emerging nations will dominate world economic activity in the years ahead.
A key reason is the debt burden of the developed world. Recent policy may have stabilized financial markets in the West, says HSBC, but individuals and governments remain awash in debt. Banks no longer enjoy the funding conditions of old, and this will combine to be a drag on growth.
With home prices crashing year-over-year and both housing rents and apartment rents droping as well one might think that falling rents would be reflected in the CPI. (Stacy – you’d be wrong)
Tags: china · mish · owner equivalent rent94 Comments
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Heads Up!
Latvia going under!
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6263039/Banks-brace-for-Latvias-collapse.html
Mike
Kenneth Langone Says U.S. in `Horrible Economic Storm’ (Bloomberg Vid) http://tinyurl.com/yakshfl
CAUTION: Crash/Collapse Dead Ahead Say Faber, Rogers, Dent and Celente http://tinyurl.com/yemq6m5
MATT TAIBBI – Caught On Tape: A Naked Swindle http://taibbi.rssoundingboard.com/
From the predictive linguistics team: http://tinyurl.com/5spyt
Only one man can save us now:-
http://www.larouchepac.com/lpactv?nid=11994
Mike
Webbots are saying 25th major event then a week later the dollar will be dead…
considering they just predicted the Indonesia quake with exact detail its worth a heads up on.
YEAH!
Latvias president used som harsch words against the swedish finance minister. Seems IMF is pushing both sweden in the talks and Latvia as the receiver. This is a carefully masterminded game where only the elite is the winner.
exciting times!
Poor Latvia..
I find it amazing that after all the excesses at the top, its always the guys on the bottom that bear the brunt of discipline and cutbacks to bring the economy back…same cookie cutter bs all over the world.
“The Baltic trio financed property booms in euros (and swiss francs) because rates were lower. It was taken for granted that eventual euro entry had eliminated the exchange risk. This has become a trap. They need to devalue to break the cycle of depression, but cannot do so because of euro mortgages. Instead they hope to claw back lost competitiveness through wage deflation. This takes years, and discipline. ”
and I’m getting a little tired of Ken Langone singing the high praises of Ken Lewis and Hank Paulson…enough already!
Drudge has a headline stating the end of use of dollar for oil trading by pretty important people. Anyone know anything.
Worldbank – IMF – BIS Warnings for Future Crises http://tinyurl.com/ydc7n6z
@Youri Carma
MATT TAIBBI – Caught On Tape: A Naked Swindle
http://taibbi.rssoundingboard.com/
GREAT FIND YOURI .. thankyou !
Now get Karl Denninger down here real quick.
I have been telling about this over 2 years ago , and he refused to believe me !
When naked shorters are at work, you see the stock hit down aggressively during the day, to rise up before the close ( buy to cover ) making the next day’s open look like it could be a rebound.
But the naked shorting continues the next and the next day, always covering their NAKED positions before the close, so as not to be in the books “overnight” for the back office bookkeeping. The momentum created during the day frightens many Long investors out thus adding to the downward pressure, such that when they cover, they can do it without bringing the price up too much. The lower the stock price goes, the cheaper it becomes to short or naked short it . This gives the naked shorters an easy and easier game.
I have also always believed there are bigger motives than just day-trading profit , and I am sure I am right.
The real motive is often to drive a Cos. stock into the ground to weaken the capital position of that company beyond reapir – i.e. bond holders also get worried and raising new capital becomes more expensive…. giving bigger profits to IBs that will then loan money the nearly-destroyed Co. … usual in the form of Convertibles.
i.e. interference in the market via powerful conspiring partners that may have various motives, such as destroying their competition, or increasing IB fees and profits if it’s not the first example.
JMHO FWIW
Good work Taibbi !
U.S. bill exempts firms from derivatives rules http://tinyurl.com/yan98wt
Saudi prince urges U.S. to sell Citigroup stake: report http://tinyurl.com/y9tva7p
Gulf unified currency will be one of top five
…The planned GCC unified currency will be one of the world’s five major currencies, says an economic expert.
And it will be used as a reserve currency by global central banks, according to Nasser Al Saidi, Chief Economist at the Dubai International Financial Centre.
He said international investors and central banks around the world would want to hold assets denominated in the Gulf currency as both a safe haven and a hedge against oil price shocks and inflation.
Al Saidi was speaking at a presentation of a DIFC report proposing the establishment of a Gulf Central Bank and a unified GCC currency.
“This currency would be strong and trusted,” he said. “The GCC has strong fundamentals, especially the similarity between economies in member countries. The reserves of oil and gas in the region today are equal in value to the capitalisation of global capital markets. The unified currency will be attractive to the world economy….
http://www.business24-7.ae/Articles/2008/9/Pages/09162008_b1ae1131f2d54d0cb78c63feb89d4f32.aspx
Did we all miss this one ?
4 tries at posted a link .. what’s going on ?
Still can’t post it !
Try this link : http://tinyurl.com/yeyajcn
Treasury to say 3 more funds to buy toxic assets http://tinyurl.com/y8vzxvn
ouch, has anyone seen today’s independent front page?
@sam .. don’t be shy !
The demise of the dollar
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
Sean O’Grady: China will overtake America, the only question is when
Leading article: The end of the dollar spells the rise of a new order
http://tinyurl.com/2z4kz
Also liked this headline :
The ghost at the Tories’ feast
Andrew Grice Conservatives’ haunted by the fear of Tony Blair becoming EU president.
@sam .. ” have launched secret moves with China, Russia and France to stop using the US currency for oil trading”
That was the content of the link I posted a few minutes ago !
Try this link : http://tinyurl.com/yeyajcn
Ray
Am told the Drudge report has been up for awhile….nothing new…am told?
Mike
Bloomberg : Bashing Goldman Sachs Is Simply a Game for Fools: Michael Lewis
http://www.bloomberg.com/apps/news?pid=20601039&sid=a2X3hNaWcbeg#
“Only one man can save us now:”
Yup: Hugo Chavez
as I stated in the another thread:
BTW, the real reason the US lost the Olympics: MOST of the world’s athletes come from “national security threat” countries that would Never make it past Fatherland Security, or worse, get Gitmo’ed.
Fed’s Dudley says rates to stay low for a long time http://tinyurl.com/ya5vbyl
Even during the depths of the crisis, when extreme measures got taken every day, Goldman’s “Government Sachs” reputation was bad enough to singlehandedly derail the proposed merger with Wachovia. Since then — and especially since MATT TAIBBI’s (LOL) screed appeared — Goldman’s reputation has only deteriorated further.
From: Goldman’s image problem http://tinyurl.com/ybb8566
PPIP, irrelevant before its time http://tinyurl.com/ybk7nvj
Stiglitz Says Markets ‘Irrationally Exuberant’ http://tinyurl.com/ye3rv8s
The Independent — The demise of the dollar
‘In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading’
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
Pre-Cognitative Michelangelo Antonioni predicting the collapse of capitalism in 1970,
http://www.youtube.com/watch?v=9rxpfO90mg8
THE IRISH REFERENDUM OUTCOME IS NULL AND VOID http://tinyurl.com/yapkxox
Max, Stacy, Everyone!
Please join my No McDonald’s in The Louvre Face Book group, and show your solidarity in helping to encourage a Boycott. Important members of my local art community will be more likely to join and promote the group, on and offline, if it has more members.
http://www.facebook.com/group.php?gid=149114051093&ref=nf
@Youri
I knew the “vote” was dogshit.
Until we start taking things into our own hands like this guy,
http://gonephut.files.wordpress.com/2009/02/shichinin-no-samurai-3-1024.jpg
we are nothing more than sheep.
I think you are geniuses, better than the swedish academy of science.
China’s SARFT — similar to TDF in France — has just been contracted to install a Chinese functional duplicate of the ALLISS transmission system in Cuba at a to be determined location.
FAQ:
http://en.wikipedia.org/wiki/ALLISS
BBG-VOA has order a simpler model here in 2009:
http://maps.google.de/maps?f=q&source=s_q&hl=de&geocode=&q=kuwait&sll=51.151786,10.415039&sspn=20.453081,56.733398&ie=UTF8&ll=29.153047,47.762251&spn=0.003467,0.006925&t=h&z=18
I am glad the Chinese have duplicated the ALLISS technology — remember that Thales-Grass Valley has never hired me so I owe them nothing (although I will recommend on commission the ALLISS technology where applicable).
This may seem like minor news in the shortwave broadcasting front — but imples that China can now fully meet the entire Western sphere (Europe / North America / Japan) of technology on an at par basis.
RBA lifts rates
http://www.smh.com.au/business/rba-lifts-rates-20091006-gkv5.html
Statement by Glenn Stevens
http://www.rba.gov.au/MediaReleases/2009/mr-09-23.html
… worst is over, or contrary indicator?
RBA sounds the all-clear
MICHAEL PASCOE
October 6, 2009 – 3:06PM
“Not only is Australia’s economic emergency over, we’re very nearly back to normal, according the Reserve Bank Governor Glenn Stevens.”
http://www.smh.com.au/business/rba-sounds-the-allclear-20091006-gkwp.html
Robert Fisk (possibly the Western world’s most respected commentator and journalist on the middle east conflicts) has just brought out a bit of a shocker on the dollar:
http://license.icopyright.net/user/viewFreeUse.act?fuid=NTE5NzM3Ng%3D%3D
Yes I know we’ve heard it all before but consider:
1. Fisk has been working in the region for decades, speaks fluent Arabic and has years and years of deep contacts. Anybody who follows his work knows that, although he can be somewhat shrill, he gets to the heart of the matter.
2. He is not remotely interested in financial matters usually, so the fact that he’s chosen to make this report is highly telling.
3. He quotes sources, both Hong Kong and Gulf Arab.
“The death of the dollar”.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
If you want to see the ALLISS shortwave broadcasting technology that China has duplicated see the following
– http://www.youtube.com/watch?v=W_1iOqxcx5M
– http://blip.tv/file/2685735
Note that China did not acquire the highest directivity models domestically, so there is some question as to if they can duplicate the HR 6/4/1 antenna type in their own designs.
I believe that China has enough adequate HUMINT to duplicate the HR 6/4/1 design.
Nations that master shortwave broadcasting transmission can ultimately survive better economic crises. Note that the former USSR had about 20% more overall transmission capacity and directivity than the entire Western world.
Never underestimate Chinese or Russian scientific or industrial prowess — they possess different views and how technology and science can and should be used, and have probably surpassed the West vs being behind it.
They really are trying to get out of the dollar.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
@ Adam Gibson
That would be a black swan!
Still, I can’t help but feel that this is merely the latest in a series of dollar negative headlines that have been growing louder by the week. Regardless, it seems with the recent crescendo in the inflation / deflation debate, that we are approaching another important inflection point … of some sort.
I would not discount the presence of a working infrastructure, intelligent litterate reasonably healthy people and having the most fertile farmland in the world (with excellent climate prospects) in favour of Europe. Those declinist are simply projecting US selfimmolationist sentiments..Banks have not screwed everything up here yet, and even the immigrant population, which according to some illuminat freaks was meant to deminish the general level of organization in northern europe, shows clearly disprove the racist attitude underlying that assumed strategy.To all the declinist I Go F*ck Youself !
The demise of dollar
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
WOW!
“The demise of the dollar…
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.”
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
This is actually catching up on the MSM in Sweden at least… impressive, the morons at the newsrooms are actually reading this! They got raise?
The banking syndicate needs to get out of the dollar before they lose contro of it and the game…they need to make the transition to the international central bank before they get completely exposed.