Sunday, June 21, 2009
Saturday, June 20, 2009
Friday, June 19, 2009
Coming Market Crash: Time To Review
Yesterday this analyst had the bizarre experience of watching two consecutive and conflicting items on the evening Television news:
- A well respected economic forecasting organization is expecting Australian domestic real estate prices to rise by around 19% over the coming three years.
- Over one million homeowners in Australia have fallen behind in their mortgage payments in an environment where one of the country's largest banks has just moved to raise its mortgage interest rates.
Question: If 2 above is a fact, then how can 1 above be possible? (more)
Net Federal Gov't Savings
The U.S. government announced yesterday it will auction a record $104 billion in debt next week. Despite obvious warning signs that the world has had its fill of American paper, the Treasury will forge ahead: $40 billion in 2-years Tuesday, $37 billion in 5-year notes Wednesday and $27 billion in 7-year garbage on Thursday.
They must “get it.” Last week’s sharp rise in 10-year yields was as sure a sign as any that investors everywhere are getting cold feet. A prudent government would take a break… let things cool off. But there’s no rest for Uncle Sam, or his Treasury. They’ve got the mother of all Ponzi schemes to run:
The government chalked up a $189 billion budget deficit last month alone, another record and the eight-straight monthly deficit. We suspect they’d love to take a break from force-feeding the market notes and bonds, but they can’t… the Treasury will have to auction $2 trillion in debt this year just to keep the lights on.
(An interesting aside… funny how government savings started circling the bowl at the precise moment the gold standard was abandoned.)
Who Is Really Behind the GM Bankruptcy?
The bankruptcy of General Motors (GM) is very similar to the collapse of the twin towers of the World Trade Center on 9-11. Both catastrophic events are described in the controlled media as having occurred due to natural forces, while actually they are both the results of sabotage carried out by insiders. In both cases, the people who brought down the operation were Trojan Horses, people who had bought their way into positions of control in order to destroy them. The people behind the destruction of GM and the WTC are corporate raiders of the worst kind. (more)
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