Investing and Trading News, with a Contrarian, Sarcastic Twist!
This video’s a doozy – Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Further reading: Demand for US Treasuries Poor in Latest Auction How Bad Will the Financial Crisis Get? […]
Yesterday, yields on 30-year US Treasuries skyrocketed on poor demand in the latest bond auction. Yields jumped from 4.1% to 4.3%. Tough to imagine why demand would have been so lackluster – maybe it’s the fact that the US government will never be able to pay any of this debt back? That is, without printing […]
This morning, I authored a guest piece for the folks at Commodity News Center, breaking down the recent sugar rally. Regular readers will be quite familiar with the fundamental factors discussed. I always try to constantly re-examine my assumptions to make sure I’m not falling in love with a trade – if you’ve got a […]
Here’s Dr. Doom himself, Marc Faber, giving one of his usual insightful and thought provoking interviews for Bloomberg. What really caught my ear was around the 4:30 mark, he proclaimed the bull market in long dated bonds to have ended as of December 18, 2008. (He also pinpoints the start of the bull market at […]
Monday night, we were fortunate enough to initiate a long position in the Australian dollar. I took a long, hard look at it before entering the position – on one hand, it had already been rallying strong and was afraid may be due for a pullback. But the fundamentals and technicals looked too good, so […]
Hank Paulson and Ben Bernanke are sweating right now. The Bank of America scandal could have some legs, especially with a Democratic Congress looking for folks to tar and feather. In fact, one of them could be toast – whoever doesn’t rat first. Read on for more details in this guest piece by Olivier Garret, […]
The Wall St Journal reports that over 20% of US homeowners owe more on their mortgage than their homes are worth. Some metropolitan areas are faring worse – much worse – than others. Las Vegas takes the prize, with an astounding 67.2% of homes that are “upside down” in terms of equity. Maybe the Obama […]
The Australian dollar topped the 74-cents mark today to hit a new 6-month high against the US dollar. The Aussie has been rallying strong of late, and this recent strength is now also underpinned by yesterday’s decision by the RBA (Reserve Bank of Australia) to hold interest rates at 3% for at least the near […]
A recent piece in The Economist highlighted the recent strength of agriculture prices in the face of the downturn, and the reason for it. Though prices of the meats, grains, and softs are still off their 2008 highs – they’re not off by much anymore – as commodities such as cotton, soybeans, and sugar are […]
Jim Rogers says that IMF sales of gold could drive the price of the barbarous relic below $700/ounce. Rogers told Bloomberg: ”The fact is that IMF is trying to get permission from everybody to sell gold. I don’t know it will succeed or not. But if and when IMF sells its gold, gold prices may […]
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