I was on another site reading things and have not posted tonight. Let me start by saying that nothing happened in the market on Friday. Now, let me apologize for a mistake I made. I talked about the Bank of England and FDIC being prepared to take over the banks, I just assumed the EU would go along with the same plan and forgot that England is not part of the Eurozone. That was stupid on my part. The infrastructure is not in place for the collapse of the banks yet.
Yahoo - Reuters - Europe unable to break impasse on who pays when banks fail. The article says, "If agreed, the rules would take effect at the start of 2015 with the provisions to impose losses coming as late as 2018." This may sound terrible; but, I would almost prefer it comes sooner rather than later, I guess we will see.
Reuters - Obama taps former IMF official as national security deputy. It is a short article, you should read it. Why are we putting someone whose experience is all in finance in charge of national security? Any guesses?
Yahoo - Rolling Stone - The Last Mystery of the Financial Crisis.
Saturday, June 22, 2013
Thursday, June 20, 2013
Financial news and tech news and other things
Firstly, I received a comment regarding my post on Pastor Daniels from someone who claims to have been in the area at the time. I am not sure I can post it because it includes someone's name and they are not a public figure.
Yahoo - Good Morning America - Siri's Going Through Puberty, but Not Fast Enough. Basically the article is complaining that the software assistant called Siri that comes with Apple products is not predicting what you will do well enough.
Washington Post - Bloomberg - World economic group calls for global exchange of tax information to fight evasion. A one world tax organization, how global.
PhysOrg - Japan experts to OK animal-human embryos test: reports (Update). Just another bad idea and one that shows no respect for human life.
Yahoo - Daily Ticker - Bernanke & Fed Don’t Know How to Quit QE: David Stockman.
Yahoo - Reuters - Dolce and Gabbana Sentenced to Jail for Tax Evasion.
CNN - Physicians group labels obesity a disease. The important thing is not whether or not it is true because it is not a disease, the important thing is that they can make more money off it if they say it is true.
Yahoo - Reuters - Euro ministers to decide direct bank recapitalization rules on Thursday. And they are deciding that in the future they will do "Bail-ins", just like the IMF, BOE, FDIC, Canada...
New York Times - China’s Great Uprooting: Moving 250 Million Into Cities. They didn't build all those brand new empty cities for nothing.
Yahoo - Reuters - End to Fed stimulus, China slowdown spark world sell-off.
Lets see, gold is down from $1,800 to about $1,280. Don't buy gold. You cannot eat it, you cannot use it as currency and it is easily stolen.
Well the Asian markets are beginning to wake up and it is not pretty. The Nikkei is down about 300 points or another 2+ percent. Tomorrow should be interesting on Wall Street.
Yahoo - Good Morning America - Siri's Going Through Puberty, but Not Fast Enough. Basically the article is complaining that the software assistant called Siri that comes with Apple products is not predicting what you will do well enough.
Washington Post - Bloomberg - World economic group calls for global exchange of tax information to fight evasion. A one world tax organization, how global.
PhysOrg - Japan experts to OK animal-human embryos test: reports (Update). Just another bad idea and one that shows no respect for human life.
Yahoo - Daily Ticker - Bernanke & Fed Don’t Know How to Quit QE: David Stockman.
Yahoo - Reuters - Dolce and Gabbana Sentenced to Jail for Tax Evasion.
CNN - Physicians group labels obesity a disease. The important thing is not whether or not it is true because it is not a disease, the important thing is that they can make more money off it if they say it is true.
Yahoo - Reuters - Euro ministers to decide direct bank recapitalization rules on Thursday. And they are deciding that in the future they will do "Bail-ins", just like the IMF, BOE, FDIC, Canada...
New York Times - China’s Great Uprooting: Moving 250 Million Into Cities. They didn't build all those brand new empty cities for nothing.
Yahoo - Reuters - End to Fed stimulus, China slowdown spark world sell-off.
Lets see, gold is down from $1,800 to about $1,280. Don't buy gold. You cannot eat it, you cannot use it as currency and it is easily stolen.
Well the Asian markets are beginning to wake up and it is not pretty. The Nikkei is down about 300 points or another 2+ percent. Tomorrow should be interesting on Wall Street.
It Aint Over, More to come in Stock Market
Well, I guess I was right about June being a bad month for the stock market.
Yahoo - CNBC - Stocks Nosedive 2%, Dow Ends Down 350 on Fed Taper Talk; Vix Tops 20 for First Time in 2013.
The stock market is just an indicator of what the real threat is that is coming and that is bank failures. Things are going to get worse.
Yahoo - CNBC - Stocks Nosedive 2%, Dow Ends Down 350 on Fed Taper Talk; Vix Tops 20 for First Time in 2013.
The stock market is just an indicator of what the real threat is that is coming and that is bank failures. Things are going to get worse.
Oh wow, foreign markets are really down.
I woke up in the middle of the night. I had an ice cream, a cigarette and a glass of wine. I put on some music and checked the financial news. The Asian market is down almost 3%. Imagine a country losing 3% of it's wealth in a day. It doesn't sound like much but imagine 3% of your population losing their jobs in one day. Just using really bad numbers, lets try this. China has over a billion people, imagine having about 18 million lose their jobs in one day. The Hang Seng index went down 2.88% last night.
Americans do not understand it. Imagine if we lost the ability to have jobs for 3% of our population that are willing to work in one day. There was a time when we had under 5% unemployment, businesses were begging for employees and the jobs were filled, people are willing to work, not me, others. I am a lazy old man who wants to retire and be paid to. In my industry the average lifespan after retirement is 18 months. I think it is too generous; but, it is what it is. How many years should one have free from work? Shouldn't we all have at least a year to understand what it all meant and rest?
I have collected a lot of financial articles to post and did not. The issues are not financial, they are very human. I will post them in the next few days. Have a great week.
Americans do not understand it. Imagine if we lost the ability to have jobs for 3% of our population that are willing to work in one day. There was a time when we had under 5% unemployment, businesses were begging for employees and the jobs were filled, people are willing to work, not me, others. I am a lazy old man who wants to retire and be paid to. In my industry the average lifespan after retirement is 18 months. I think it is too generous; but, it is what it is. How many years should one have free from work? Shouldn't we all have at least a year to understand what it all meant and rest?
I have collected a lot of financial articles to post and did not. The issues are not financial, they are very human. I will post them in the next few days. Have a great week.
Tuesday, June 18, 2013
Yahoo - Reuters - Insight: Why Citi wants to rack up U.S. taxes. Here is how the game works, mulit-national companies will move their holdings when they won't get taxed. They can even get tax credits if they do it well. Citi showed losses in the United States so they kept their profits oversees; but, now they have enough tax credits that they can bring that income back to the United States because they won't be taxed on it here either. This is unfair to their shareholders and to the nation in my humble opinion. You watch, the solution will be an international scheme for taxing.
PressTV - America feeds the rich. So, there is this congressman that wants to cut $20 billion in food stamps when more people then ever need them and increase the subsidies to agribusiness. There was a time when farm subsidies made some sense. We didn't want everyone farming the same thing just because it was a cash crop. Farming is a very risking business and one bad year could kill a family farm. That is not who is getting these, these are going to mega agribusinesses, corporations with the ability to handle a bad year or two.
The Street - Real Money - Weiser: Bernanke's 'Clint Eastwood' Moment. An interesting possibility by the author, the idea that the federal reserve might keep buying bonds and treasuries; but, stop buying short term and switch to long term bonds. My question is, if they do that, might it create another inverted yield curve something that is the number one indicator of a coming economic recession or depression.
Yahoo - AP - Obama: NSA secret data gathering 'transparent'. I haven't really spent a lot of time on the PRISM/NSA "scandal" because it is basically nonsense. Firstly, it is legal as nothing that goes over the airwaves or the internet is protected by the Constitution. Sorry; but, it is true based on past court cases. Secondly, it is not going to go anywhere. Here is a quote from the linked article"
""We're going to have to find ways where the public has an assurance that there are checks and balances in place ... that their phone calls aren't being listened into; their text messages aren't being monitored, their emails are not being read by some big brother somewhere," Obama said."
Now let me explain what he said and did not say. He said that your stuff was not being listened to, monitored or read and you know what that is absolutely true. They are being recorded and stored in case they ever need to listen to, monitor or read them. Here is the thing about "monitored" by the government, you are and you are not. Believe me, if you start a blog about knitting, nobody cares and they will seek to filter it out, there are only so many hours in a day. They are looking for patterns and subject matters. If you start writing about how to make a bomb, they might be interested in that. I repeat, they are not looking for people who smoke pot or are cheating on their spouses. 99% of all of you do not matter to the intelligence agencies in a direct way. The fact that you hate paying taxes doesn't even get their attention, post that you lied on your taxes and you might get their attention.
PressTV - America feeds the rich. So, there is this congressman that wants to cut $20 billion in food stamps when more people then ever need them and increase the subsidies to agribusiness. There was a time when farm subsidies made some sense. We didn't want everyone farming the same thing just because it was a cash crop. Farming is a very risking business and one bad year could kill a family farm. That is not who is getting these, these are going to mega agribusinesses, corporations with the ability to handle a bad year or two.
The Street - Real Money - Weiser: Bernanke's 'Clint Eastwood' Moment. An interesting possibility by the author, the idea that the federal reserve might keep buying bonds and treasuries; but, stop buying short term and switch to long term bonds. My question is, if they do that, might it create another inverted yield curve something that is the number one indicator of a coming economic recession or depression.
Yahoo - AP - Obama: NSA secret data gathering 'transparent'. I haven't really spent a lot of time on the PRISM/NSA "scandal" because it is basically nonsense. Firstly, it is legal as nothing that goes over the airwaves or the internet is protected by the Constitution. Sorry; but, it is true based on past court cases. Secondly, it is not going to go anywhere. Here is a quote from the linked article"
""We're going to have to find ways where the public has an assurance that there are checks and balances in place ... that their phone calls aren't being listened into; their text messages aren't being monitored, their emails are not being read by some big brother somewhere," Obama said."
Now let me explain what he said and did not say. He said that your stuff was not being listened to, monitored or read and you know what that is absolutely true. They are being recorded and stored in case they ever need to listen to, monitor or read them. Here is the thing about "monitored" by the government, you are and you are not. Believe me, if you start a blog about knitting, nobody cares and they will seek to filter it out, there are only so many hours in a day. They are looking for patterns and subject matters. If you start writing about how to make a bomb, they might be interested in that. I repeat, they are not looking for people who smoke pot or are cheating on their spouses. 99% of all of you do not matter to the intelligence agencies in a direct way. The fact that you hate paying taxes doesn't even get their attention, post that you lied on your taxes and you might get their attention.
Monday, June 17, 2013
Military preparations for civil unrest and more news.
The Guardian - Pentagon bracing for public dissent over climate and energy shocks. I found this article interesting, it is from a respected English newspaper call The Guardian. Here is a quote from the article"
"Also in 2010, the Pentagon ran war games to explore the implications of "large scale economic breakdown" in the US impacting on food supplies and other essential services, as well as how to maintain "domestic order amid civil unrest." Want to know what all those military and police drills going on all over the United States?
Forbes - China: Massive Credit Bubble Fueled By Shadow Banking And Securitization Could Collapse Banks. Remember the old song, "We'll all burn together when we burn". We have to or we would not all agree on the solution.
CNBC - Cramer - A "Nightmare Scenario" for Markets.
"Also in 2010, the Pentagon ran war games to explore the implications of "large scale economic breakdown" in the US impacting on food supplies and other essential services, as well as how to maintain "domestic order amid civil unrest." Want to know what all those military and police drills going on all over the United States?
Forbes - China: Massive Credit Bubble Fueled By Shadow Banking And Securitization Could Collapse Banks. Remember the old song, "We'll all burn together when we burn". We have to or we would not all agree on the solution.
CNBC - Cramer - A "Nightmare Scenario" for Markets.
Saturday, June 15, 2013
Happy Father's Day and Financial News
Happy Father's Day to all my readers who may be fathers. I myself am a father. Unfortunately my father passed away about ten years ago and I can no longer celebrate it with him, I miss him and my mother. There are so many things that I would have liked to discuss with them while I was going through them. My parents were decent individuals with clear and level heads and I always knew that they loved us. My father lays for eternity in a casket with $20 cash, $40 in casino chips and a pack of cigarettes. That is the last gift that I could give him. He used to always say that a man always needed at least a $20 in his pocket and he was a man and I wish I could talk to him again.
I celebrated Fathers Day today with one of my children. A simple dinner out and some time together. My ex-father in law and I have had an interesting relationship over the years and I understand that he is sick. I wish him a happy fathers day, he raised five kids and I believe he did his best. In the end, none of us are perfect; but, we can try to raise our kids to be independent and to understand the ways of the world. I tried my best too.
Mail Online - Paedophile fire chief allowed to keep £150,000 pension payout despite being convicted of swapping child porn pictures online. Obviously not a very nice person; but, why an article about his pension? What about the victims, why is the focus on the pension? I can tell you why because I see the same type of articles all over the U.S. papers, should people be paid their public pension if they go to jail or commit a felony or whatever. It is an attempt to manipulate the public. Firstly, pensions benefits are earned just like a salary or your hourly wages. If someone commits a crime, do you have to pay them for the hours they have already worked for you? The answer is yes.
Lets consider where this is being driven by the media. They are trying to get us to support a situation where what you do outside of work can free the government from it's responsibilities. Would you deny someone Social Security because they once committed a crime? Lets say that we take that approach, what else could they use as an excuse to take away your pension, what if you complained about government policies, who within the government would say anything after they retired about what goes on if they could lose their pension and remember most government employees never receive social security.
Yahoo - The Atlantic - Yes, Credit Cards Are Making You a Bad Person. Don't worry, getting credit is going to get a lot harder in the future. This article is just to get you to think it is okay and that you are actually better off with less credit in the world.
The Atlantic - How the Music Industry Explains Inequality, Globalization, Middle-Class Decline ... Basically Everything. The article is non-sense; but, I want my readers to see the spin the author uses. The Atlantic is read by people who have and or come from money. This is how they are told that they deserve what they have. For a video retort I offer this from a Trust Fund Kid that knows better YouTube - The One Percent – An Inside View.
Yahoo - Reuters - IMF urges repeal of 'ill-designed' U.S. cuts. Now, I have been thinking that the crashes in the markets will begin this year; but, this article is making me think it may stretch out to next year. I have not decided yet. The IMF is asking the Federal Reserve to continue to quantitative easing until 2014. The IMF is also saying that they were wrong about pushing for "austerity" in Europe. Austerity means cutting benefits to those who need them the most and cutting services.
The Guardian - Raise interest rates on old student loans, secret report proposes. I guess it doesn't make sense to go to college in England either. Student loans are an issue worldwide, how odd.
Stop Smart Meters - Channel 5 EXPOSED: The Gadget Show’s RFID + Human Microchipping propaganda. I cannot vouch for the source; but, the video is interesting.
Wall Street Journal - IMF Revises US 2014 Growth Outlook Down to 2.7%, Keeps 2013 at 1.9%.
Yahoo - Reuters - Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator
. This is a scary article because it is a very big bank.
Bloomberg - FX Rates Said to Face Global Regulation in Libor Review. Oh boy, international control over interest rates. Do you get this? Interest rates have been sovereign decisions.
I celebrated Fathers Day today with one of my children. A simple dinner out and some time together. My ex-father in law and I have had an interesting relationship over the years and I understand that he is sick. I wish him a happy fathers day, he raised five kids and I believe he did his best. In the end, none of us are perfect; but, we can try to raise our kids to be independent and to understand the ways of the world. I tried my best too.
Mail Online - Paedophile fire chief allowed to keep £150,000 pension payout despite being convicted of swapping child porn pictures online. Obviously not a very nice person; but, why an article about his pension? What about the victims, why is the focus on the pension? I can tell you why because I see the same type of articles all over the U.S. papers, should people be paid their public pension if they go to jail or commit a felony or whatever. It is an attempt to manipulate the public. Firstly, pensions benefits are earned just like a salary or your hourly wages. If someone commits a crime, do you have to pay them for the hours they have already worked for you? The answer is yes.
Lets consider where this is being driven by the media. They are trying to get us to support a situation where what you do outside of work can free the government from it's responsibilities. Would you deny someone Social Security because they once committed a crime? Lets say that we take that approach, what else could they use as an excuse to take away your pension, what if you complained about government policies, who within the government would say anything after they retired about what goes on if they could lose their pension and remember most government employees never receive social security.
Yahoo - The Atlantic - Yes, Credit Cards Are Making You a Bad Person. Don't worry, getting credit is going to get a lot harder in the future. This article is just to get you to think it is okay and that you are actually better off with less credit in the world.
The Atlantic - How the Music Industry Explains Inequality, Globalization, Middle-Class Decline ... Basically Everything. The article is non-sense; but, I want my readers to see the spin the author uses. The Atlantic is read by people who have and or come from money. This is how they are told that they deserve what they have. For a video retort I offer this from a Trust Fund Kid that knows better YouTube - The One Percent – An Inside View.
Yahoo - Reuters - IMF urges repeal of 'ill-designed' U.S. cuts. Now, I have been thinking that the crashes in the markets will begin this year; but, this article is making me think it may stretch out to next year. I have not decided yet. The IMF is asking the Federal Reserve to continue to quantitative easing until 2014. The IMF is also saying that they were wrong about pushing for "austerity" in Europe. Austerity means cutting benefits to those who need them the most and cutting services.
The Guardian - Raise interest rates on old student loans, secret report proposes. I guess it doesn't make sense to go to college in England either. Student loans are an issue worldwide, how odd.
Stop Smart Meters - Channel 5 EXPOSED: The Gadget Show’s RFID + Human Microchipping propaganda. I cannot vouch for the source; but, the video is interesting.
Wall Street Journal - IMF Revises US 2014 Growth Outlook Down to 2.7%, Keeps 2013 at 1.9%.
Yahoo - Reuters - Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator
. This is a scary article because it is a very big bank.
Bloomberg - FX Rates Said to Face Global Regulation in Libor Review. Oh boy, international control over interest rates. Do you get this? Interest rates have been sovereign decisions.
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