Stacy Summary: Sorry the site was down this morning. It’s back up though. Thanks to @Phil for this great link from Market Ticker about S&P removing One-Click P/E. Hey, M3 is gone. U6 is hidden. Gold is unaudited. The Fed is a black hole of unaccountability. Welcome to Soviet States of America.
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Stacy Summary: From Janet Tavakoli. Great piece.
On October 25, 2009, when BBC’s Evan Davis interviewed him, Buffett surprised me : Click here to view the eight minute video. It started out so well, but after six minutes the interview went sideways. [Not shown in this clip Buffett said his $5 billion investment in Goldman Sachs’ preferred stock (plus free warrants) last year was, in part, a bet on a US government bailout.1 He thought the U.S. taxpayer got a good deal, but we got a worse deal than Buffett negotiated, and as I explain here, I feel taxpayers got chump change.]
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Stacy Summary: We spoke to these guys for Death of the Dollar 2. As we only had screen time for about 5 minutes of their 45 minutes of tape, I should post the entire conversation.
Standard Chartered Plc, Aletti Gestielle SGR, HSBC Holdings Plc and Scotia Capital Inc. say the dollar will depreciate as much as 6.4 percent versus the euro. About $12 trillion of fiscal and monetary stimulus, the world’s lowest borrowing costs and a record $4 trillion of government bond sales between 2009 and 2010 will weigh on the currency, they said. So will the nation’s 10.2 percent unemployment rate and signs that the economic recovery may falter, they said.
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Stacy Summary: If Dominique Strauss Kahn is warning against it, then, presumably, he has been hearing national leaders floating the idea? Mind you, I don’t think the first bailout has yet stopped. Nor do I think a gold chart can tell you what is brewing down below.
“Most advanced economies will not accept any more [bailouts]…The political reaction will be very strong, putting some democracies at risk,” he told delegates.
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Stacy Summary: US government needs to find $1.6 trillion by March; I think they will probably set up a paypal account and do some sort of moneybomb, maybe get Bono to perform and ask the color-coded people to feed the government.
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Stacy Summary: Morning, y’all!
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Stacy Summary: Alas, I found one. This has it all, politics, finance, markets and scandal.
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Stacy Summary: I can’t find any interesting videos to link to this morning. Do you have any?
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Stacy Summary: From what I can tell from history, the mightiest and most powerful seldom change, adapt and progress, they collapse. The US empire has Big Finance, Big Agra, Big Pharma, Big Oil, Big Copyright and Very Big Military; through a combination of legislation, finance and military, competition to any of these American Bigs is either contained, co-opted or destroyed. No matter how powerful they seem at the moment, however, history shows that inevitably the bloat, the corruption and the absence of progress lead to eventual collapse because barbarians have been at the gate for 5000 years. There are plenty barbarians waiting at the gate of this collapse:
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Posted in Headlines
Stacy Summary: Morning y’all. Visited 321energy.com and saw this surprising chart.
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Stacy Summary: On the Edge with guest Mish Shedlock.
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Stacy Summary: Thanks to @A New Era Begins for linking to this. I suspect this is part of the whole dollar carry trade, speculative casino crazy global ‘financial system’ (sic) we have.
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Rick Ackerman
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