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The great Milton Friedman famously predicted in 1999 that Europe would not survive it’s first economic crisis – it’s looking more and more like Uncle Milt is going to be right on the money. The debt ratings of the PIIGS are going down faster than a stack of dominoes, with Spain being the latest Club […]
Of course we’re talking about… …all at once now… Muni bonds! Yay! Of course, municipalities far and wide have no way to pay back their increasing deficits amidst falling tax revenues. Of course you knew this already, being an astute reader and no doubt a contrarian thinker. But the mainstream press is even starting to […]
The bond vigilantes are circling the wagons in Greece, as investors are coming to grips with the obvious fact that Greece is not going to be able to honor its debt obligations. Yields on Greece’s 10-year bonds soared above 7 percent today. Reuters reports: Jitters about Greece resurfaced following reports that Athens wants to amend […]
Ever wonder what the hell takes the rating agencies so long? Today, leading credit agency Fitch downgraded Portugal’s debt amid “growing concerns about the government’s ability to service it’s borrowings.” Well – duh – increased borrowings coupled with decreasing tax revenues should raise concerns. What amazes me is that the Euro traded down today on […]
Who in their right mind Would want to be long right now? Get out or get short! Why the Markets Could All Crash – Soon Investing is a largely probabilistic endeavor. It’s nearly impossible to know exactly how the future will unfold, so instead we play the probabilities, in an effort to weigh the risk […]
Not too much new here Just a bear market rally On it’s last hurrah! One Last Hurrah for the Bull! Had family in town this weekend, hence the late post, but there’s really not much going on anyway. This current rally feels like a last gasp countertrend rally that’s just about out of steam. Where […]
Sovereign debt – all crap Who could have expected this? Socialism’s toast! Contrarian Valentine’s Day While I’m tempted to wish you a Happy Valentine’s day, dear reader, I have no doubt that you won’t be running with the herd tonight for dinner and a dozen roses. No sir, not here – when my wife insinuated […]
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