When my youngest sister was four-years-old, we taught her how to play Old Maid. She learned quickly but played the game like – a four-year-old. When she was dealt the Old Maid, her little thumb would push it a couple of inches above the others in her hand. She did this with a giggle since her maneuver was tricking us (in her 4-year-old mind) into taking the Old Maid. She succeeded; someone would remove it from her hand so that she could say: “Ha, Ha, you have the Old Maid!”
[Read more...]DXY Shows the US Dollar Was Best Performer in May
June 1, 2011 By Leave a Comment
I want to start off this morning by wishing Chuck good luck with the ‘procedure’ he will be going through today. Chuck is constantly having to go in to get poked and prodded by his doctors and I am impressed at how positive he remains through all of these doctor’s visits. He told me this wasn’t a ‘big’ deal and everything should be fine, but after the past few years I think Chuck has a slightly different view than the rest of us on what a ‘big’ deal is. So we should all say a quick prayer for Chuck and his doctors.
[Read more...]Falling Unemployment: Blind Optimism in the “Poor” Economy
April 4, 2011 By Leave a Comment
Let’s see…what’s new?
Bloomberg reported last week that thanks to the mining boom, uneducated Aussie crackers earned more than Ben Bernanke.
“Travis Marks, a 24-year-old with no college degree, is hitting pay dirt as Australia’s mining bonanza fuels demand for workers,” says Bloomberg. “Already making triple the nation’s average salary, he expects to get even richer…
[Read more...]Dollar Gets Sold On Bad Data Prints
July 6, 2010 By Leave a Comment
The currencies traded yesterday, but in very tight ranges, as the US was on holiday. This morning, the bias is to sell dollars, much like it was on Friday before the liquidity of Europe went to the pubs… Let's go back now, and revisit Friday's action…
Well… There was more proof on Friday that the double dip is coming…
[Read more...]Chinese Manufacturing Slows
July 1, 2010 By Leave a Comment
We closed the books on the second quarter yesterday. One that probably will end up showing some real rot on the US economy's vine. Yes, I do believe that rot is going to be exposed as we move along in July. So… We have that going for us!
The news from China, overnight, was not exceptionally good, and the fear mongers came out of the woodwork again, which wasn't a good thing for Aussie dollars (AUD)… In fact, all of the commodity currencies got whacked and sent to their rooms without TV! So, here's the news from China…
[Read more...]Gold Investing: Keep On Keeping On
May 7, 2010 By Leave a Comment
Front and center this morning is all the hootin and hollerin about the stock market move yesterday… At one point it was down 1,000 points… Thats right, I did not let my fat fingers mess that up… However, someone on Wall Street apparently did, as they meant to enter a trade to sell millions of shares of Procter & Gamble, but entered Billions… Thats Billions with a capital B, as Ronald Reagan used to say! Upon discovering the fat fingers error order was restored… However, the problem here is that stocks were down BIG TIME before the fat fingers error… It was a bad day a red rock for stocks.
[Read more...]European Monetary Fund: You Heard it Here First
March 8, 2010 By Leave a Comment
Well… After a couple of weeks of waiting, and wondering if it was going to print or not… There was a very nice article in The Wall Street Journal on Saturday that featured… Me! And my Pfennig! Im sure that most of you missed it, so if by chance you would want to read what Jeff Opdyke had to say about me and the Pfennig… Click here.
[Read more...]
Jobless Claims Rise Back to 400,000
The sweet sounds of risk taking have been playing the past few days, and unless the trap door gets sprung again today, the euro (EUR) will most likely end the week on the good foot, as James Brown would say… After a couple of weeks of euro bashing, the euro has quietly rallied… And it can all be pinned down to the idea I told you about the other day, regarding a rumor about recapitalizing European banks…
[Read more...]