Both Germany and the IMF have cut their growth forecasts for this year. Germany for Germany, and the IMF for global growth… But both are cutting their forecasts because of the same thing… Eurozone weakness, due to the debt problems, which are pushing austerity measures, which will cut growth for certain!
[Read more...]When Counterfeiting is Legal
November 22, 2011 By Leave a Comment
If I told you that I had $1.6 trillion on deposit at a local bank, you’d think I was not merely a member of the “1%,” but a member of the “1%” of the “1%.” (Can’t you just imagine the bitter jealousy the other 99% of the 1% would feel?)
But if I then mentioned that — oh by the way — I also owed $1.6 trillion to a bunch of people, you’d realize that I probably belonged to the lowest cohorts of the 99%, rather than the very highest echelon of the 1%. In other words, you’d realize that I wasn’t über-rich; but über-poor.
[Read more...]Will The ECB Be More Like The Fed?
November 18, 2011 By Leave a Comment
Well… We saw another “take-down” of gold yesterday… It’s shameful to watch this going on… And while it was happening, I decided to take down some notes, so that I didn’t forget them front and center, this morning…
OK… Ever wonder why I’m so confused as to why gold goes down when it should be going up?
[Read more...]Ron Paul: “This QE Stuff Doesn’t Work”
November 3, 2011 By Leave a Comment
If he isn’t Ben Bernanke’s worst nightmare, I don’t know who is. Here’s another great clip by Presidential-candidate Ron Paul on the role of the Federal Reserve.
[Read more...]Additional Stimulus Remains on the Table
November 3, 2011 By Leave a Comment
It’s turning out to be a real awful week for Greek Prime Minister, Papandreou… As you know, Papandreou decided to let the Greek people vote on the Eurozone’s Grand Plan… Well… When the Prime Minister (PM) showed up in Cannes ahead of the G-20 meeting he found himself surrounded by Eurozone leaders that have bent over backwards for him and his country, and now feel as though they’ve been thrown under a bus…
[Read more...]Greek PM Begins to Sell the Grand Plan
November 2, 2011 By Leave a Comment
Good day… And a Wonderful Wednesday to you! I’m bailing on the trading desk today… Remember when I told you last week about too fast, can’t last with the currencies? Well… I think that was me and coming back to the office… Nevertheless, I’m here to give you the latest news on the currencies, metals, economies, and Chuckisms!
[Read more...]Where’s the Economic Growth We Were Promised?
October 21, 2011 By Leave a Comment
Have you ever wondered, at least recently, if the markets are just playing games with investors? It’s like a game of good cop, bad cop… On one day, the markets will be all about the euro (EUR), and the prospects for a solution to the Eurozone debt problems, and without any notice, turn on the euro, for a different reason. I’ve always said that traders were fickle, but this is taking it to the extreme, and beginning to cause me to have a rash!
[Read more...]Currency Rally is Stopped by Slovakia Vote
October 11, 2011 By Leave a Comment
On the Columbus Day holiday, the dollar got shellacked… But, that’s turning around this morning, as outgoing European Central Bank (ECB) President, Trichet, brought some pain on his own currency, the euro (EUR), by saying that the “crisis has reached a systemic dimension. Sovereign stress has moved from the smaller economies to some of the larger countries. The crisis is systemic and must be tackled decisively.”
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Commodities Take Off!
The Greek talks returned to the headlines this morning. I know I said this last Friday, and I was a little too optimistic and turned out to be wrong! But… I do expect this agreement on a private-sector involvement in Greek debt to get hammered out this weekend… It seems that the opposition from eurozone policymakers is backing off, and that has me optimistic once again.
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