With Greece announcing yesterday they won’t meet their deficit targets the chances of sovereign default are rising. Unfortunately they have a history of defaulting. Greece on Edge of Biggest Insolvency 24 Centuries After First City Default By Simon Kennedy and Maria Petrakis – Sep 23, 2011 11:20 AM E History’s first sovereign default came in […]
When one gets too depressed over falling stock & home prices, ones favorite football team losing, kids misbehaving or spouses nagging. We need to remember that things may not be as bleak as they seem. Here are some material things that prove the trend toward the better: In 1990, the avg American family had 2 tv’s, […]
Euro Crisis Makes Fed Lender of Only Resort as Banks Chase Dollar Funding Q By Craig Torres and Caroline Salas Gage – Sep 28, 2011 10:09 AM ET Enlarge image The U.S. Federal Reserve building stands in Washington, D.C.. Photographer: Andrew Harrer/Bloomberg The Federal Reserve, chastised by Congress for lending money to foreign institutions including a […]
Retailers are starting the holidays even earlier this year By Bruce Horovitz, USA TODAY Updated 9/12/2011 10:35 AM Comments Reprints & Permissions Santa’s becoming a September fixture. By Amanda Schwab, AP Dancers gathered in Times Square to perform a choreographed routine to promote The Radio City Christmas Spectacular’s annual Christmas show on August 11. In […]
Yesterdays closing level of the Standard & Poors 500 stock index of 1129 also occurred on April 22, 1998. A time in which we were just learning about a woman named Monica Lewinski!
From today’s Cashin’s Comments.. Things turned a bit more philosophic at last night’s convocation of the Friends of Fermentation. It was not a plenary session but rather a more intimate group – about the size of a sub-committee. And, as often happens at watering holes, folks drifted in and out, going to a meeting or […]
Have you noticed how the “blame” seems to have shifted from the Bankers and Wall St. to the Politicians?
Our very good friend and fellow trading veteran, Dennis Gartman, came across an enlightening analogy from the blog “Things That Make You Go Hmmmmm.” Here’s the bit: If the US government was a family, they would be making $58,000 a year; they spend $75,000 a year and are $327,000 in credit card debt. They are […]
