Archive for August 24th, 2010

Third Hindenburg Omen appears

Tuesday, August 24th, 2010

Full story here from ZeroHedge. “Oh, the humanity!”

The market is now down 3.4% from the August 12 open, when the first Hindenburg Omen was sighted, on route to validating the prediction of a 5% drop. However, in the process it continues getting worse and worse – today we just got a third H.O. confirmation, and a 4th standalone HO event, as the market seems to be getting ever more schizophrenic, with increasing new highs and new lows, while the undercurrent is one of ever increasing implied correlation as noted earlier, as ever more asset managers simply rely on levered beta “strategies” to redeem their year. Unlike 2009, however, this time the trick won’t fly, as it appears the market’s downside potential is finally starting to be appreciated.

The true National Debt

Tuesday, August 24th, 2010

Full story here from ZeroHedge.

When I read Paul Krugman and the other Keynesian boneheads saying that our debt is not a problem, they quote figures about our debt of $13.3 trillion versus our GDP of $14.6 trillion not being so bad. That is only 91% of GDP. They point to World War II when our national debt reached 120% of GDP. They say everything worked out after that. (more…)

PIMCO needs a bailout (for your own good!)

Tuesday, August 24th, 2010

Full story here from ZeroHedge.

In his latest letter, Pimco’s Bill Gross explains why neither he, nor his fund, are some bloodthirsty vampire squid, monopolizing the bond market: all he wants is the greater social good, which can only be perpetuated by endless government subsidizes of the housing ponzi. What follows is truly entertaining: (more…)

Dead files for 24-30 Aug 2010

Tuesday, August 24th, 2010

27 Aug -

OK, I’m tired of waiting for Zsa Zsa and Dick Cheney to make the list. But we see a looming political death:

http://www.zerohedge.com/article/zuckerman-loses-it-releases-most-scathing-criticism-obama-yet-most-fiscally-irresponsible-go

This, along with yesterday’s HuffPo list of CEOs who hate Obama, The London Telegraph and Guardian disses on him, it is perhaps the end. And lest you think this is one rube’s opinion, this fellow implicitly speaks for the following:

“He is a member of the JPMorgan’s National Advisory Board, theCouncil on Foreign Relations, the Washington Institute for Near East Policy, and the International Institute for Strategic Studies.

President George W. Bush appointed Zuckerman to serve on the Honorary Delegation to accompany him to Jerusalem for the celebration of the 60th anniversary of the State of Israel in May 2008.”

and a Bilderberger

http://www.biblebelievers.org.au/bball.htm

Anyway, when someone from these groups says “You’re out”, then chances are you are out.

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Aug 27 -

US ambassador to Thailand’s daughter falls from highrise

http://www.huffingtonpost.com/2010/08/27/nicole-john-dead-teen-dau_n_696934.html

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24 Aug -

Money mgr sentenced to 25 yrs for $190 million fraud

http://wcco.com/local/sentencing.ponzi.scheme.2.1876202.html

“Recovery Summer” hits the rocks

Tuesday, August 24th, 2010

Full story here from Mike Whitney.

At the time, the idea of a nationwide “Recovery Summer” tour must have seemed irresistible. After all,  the stock market was inching its way higher every week and there were convincing signs that the economy was on the rebound. What better time for President Barack Obama to barnstorm his way across the heartland singing praise for his  $787B fiscal stimulus package? (more…)