I scared. I know silver ‘N’ gold goin’ ta the moon. Butt I don’t wanna git burned jumpin’ in right here on none these bargain miners. Like CDE. Dirt cheap butt scary.
Yesterday wasn’t the best of news days for Citigroup. The key stories I saw were:
Citigroup has appeared to clumsily reverse course on their previous “pledge” not to support their ailing SIV vehicles (now apparently reaching about $66 billion; formerly as high as $83 billion) in the form of statements by one William Mills:
Equities markets rallied strongly today on stronger-than-expected earnings from Wal-Mart (up 8%), with the Dow bounding eagerly upwards by more than 300 points on the news. The market was clearly looking for any excuse to divert attention from the continued spread of the subprime contagion—and it found what it needed in the Wal-Mart […]
My summary answer to this question is “no”. The debate spurring my remarks here, which is presently raging in the Fed-skeptic/hard money camp, has splintered into the “austere Fed” vs. “profligate Fed” sub-camps. There are assumed to be important practical ramifications of the answer to this question regarding investing, trading, and the […]
August 9 – The Wall Street Journal (Henny Sender and Kate Kelly): Quant funds – ‘quant’ stands for quantitative — generally operate by building computer models of market behavior and then allowing the computer programs to dictate trading. A recurring characteristic of the recent trouble in financial markets is that many lenders, funds and brokerages […]
While the final results won’t be tallied until Monday morning, it looks like the LDP (Shinzo Abe’s party) is out in Japan. As the linked article points out, Abe’s top priorities were basically the projection of Japanese power globally, and more nationalism at home.
Resuming a familiar refrain, the market is moving up today for all the wrong reasons. Bad news is being taken as good—as if the deteriorating economic situation over the past year is not proof enough that doe-eyed readings of the leading month or week’s data is pure folly.
Another day, another episode of being bathed in forest fire smoke for the city of Atlanta. We had a really bad day last week as well—and this unfortunately looks set to become a more frequent occurrence, much to the dismay of anyone even remotely sensitive or vulnerable to atmospheric pollutants.
“The bottom line here is very clear: The US Congress just doesn’t do macro.” –Stephen Roach, in Past The Point Of No Return
Isn’t it remarkable that the pea-brains on capitol hill don’t link the obvious negative consequences of the trade imbalance with China (manufacturing job loss) with the “positive” results we’ve come to depend on: […]
New article up at iTulip: “Say Hello To ‘Lendron’“, discussing propagation of the housing finance breakdown out of subprime, and the negative-amortization scam.
