NMMM Finance Notes

2008-09-22

Readings

From Economist:

I. Goldman and Morgan back to "normal" banking.

Goldman, Morgan Become Bank Holding Companies, Ending Era
By Steven Sloan
Sunday, September 21, 2008
http://jessescrossroadscafe.blogspot.com/2008/09/goldmans-sachs-and-morgan-stanley-to.html

Last major investment banks change status
Monday September 22, 6:16 am ET
By Martin Crutsinger, AP Economics Writer
Federal Reserve changes status of Goldman Sachs and Morgan Stanley to bank holding companies
http://biz.yahoo.com/ap/080922/bank_change.html

Goldman Sachs, Morgan Stanley to Become Bank Holding Companies
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/399387209/goldman-sachs-morgan-stanley-to-become.html

Fed: Goldman Sachs, Morgan Stanley to be Bank Holding Companies
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/399379618/fed-goldman-sachs-morgan-stanley-to-be.html

II. Misc news

Lehman and that $8 billion
from Bearwatch by noreply@blogger.com (SACKERSON)
http://feeds.feedburner.com/~r/Bearwatch/~3/399526349/lehman-and-that-8-billion.html

Lehman administrators have filed a court order for the return of $8bn that was transferred from the UK to the US just before the firm's failure. The radio news this weekend said (my phrasing) that it was Lehman's practice to park the money in the US overnight to earn interest.

Another prophet foresees market panic
from Bearwatch by noreply@blogger.com (SACKERSON)
Thus Jim in San Marcos
http://feeds.feedburner.com/~r/Bearwatch/~3/399051383/another-prophet-foresees-market-panic.html

This week, look for a serious drop in the DJIA of 4,000 to 6,000 points and the close of the stock market for a week or two.

Charts in the Babson Style for Week Ending 19 September 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/charts-in-babson-style-for-week-ending_19.html

US Dollar Weekly Charts
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/us-dollar-weekly-charts_19.html

Washington declares war on debt crisis!
Urgent Q & A
by Martin D. Weiss, Ph.D.
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2283

The Moral Hazards of This Week's Events
by Jack Crooks
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2287
Last week "things" in review.

Traders Say: "the Dollar Will Get Crushed"
http://jessescrossroadscafe.blogspot.com/2008/09/traders-say-dollar-may-get-crushed.html

Welcome To The USSA
http://market-ticker.denninger.net/archives/586-Welcome-To-The-USSA.html
article is too messy to understand.

What Credit Crisis?
http://chrispycrunch.blogspot.com/2008/09/what-credit-crisis-business-reports.html

"You're so far past the line that you can't even see the line! The line is a dot to you!"
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/398824510/youre-so-far-past-line-that-you-cant.html

What's Up With Oil
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/oil-got-big-boost-today-thanks-to.html

Nice Finish to Gold ... ARGH!
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/nice-finish-to-gold-argh.html

An act of desperation? (UPDATED ... again)
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/09/act-of-desperation.html

Higher bills for the U.S., higher prices for gold
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/09/higher-bills-for-us-higher-prices-for.html

WaMu: Talks Continuing
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/399450705/wamu-talks-continuing.html

III. Safe haven

Paulson Goes All In
by Peter Schiff
http://www.safehaven.com/article-11292.htm

Gold/Silver/USD Market Update
by Clive Maund
http://www.safehaven.com/article-11311.htm
...and...
http://www.safehaven.com/article-11310.htm

Nightmare On Wall Street
by David Chapman
http://www.safehaven.com/article-11317.htm

IV. In Bulgarian:

Барак Обама - социализъм с усмивка
Barak Obama - wrapping socialism in a smile
http://kaka-cuuka.com/561

Interesting Offtopic

Google calc gets it wrong:
http://www.google.com/search?hl=en&q=2999999999999999+-+2999999999999998+&btnG=Google+Search&aq=f&oq=

Web

2 999 999 999 999 999 - 2 999 999 999 999 998 = 0

More about calculator.
Search for documents containing the terms 2999999999999999 - 2999999999999998.

2008-09-21

Paulson resists calls for added help in bailout
September 21, 11:30 am ET
Treasury chief resists Democratic push to add more help for households to $700B bailout
http://biz.yahoo.com/ap/080921/financial_meltdown.html

WTF?!?!
$700,000,000,000.00 rescue plan may not save some troubled banks...

2008-09-20

Rescue plan seeks $700B to buy bad mortgages

Saturday September 20, 12:18 pm ET
By Julie Hirschfeld Davis, Associated Press Writer
Bush rescue plan seeks $700B for to buy bad mortgages, would raise limit on national debt
http://biz.yahoo.com/ap/080920/financial_meltdown.html

2008-09-19

Two articles

Did Bernanke Panic? And Where Are We Going?

"We have lost control," said Hale, quoting Bernanke. "We cannot stabilize the dollar. We cannot control commodity prices."
http://jessescrossroadscafe.blogspot.com/2008/09/did-bernanke-panic.html

Weep For The Free Market

The Federal Government just declared war on short sellers.
Will it help the real economy? No sir.
Will it help the value of my house? Nope.
Will it blow up hedge funds? Yep.
Is it a selling opportunity? You betcha.
Will the rally last ? No.
Will earnings increase? Actually I think they will fall.
http://globaleconomicanalysis.blogspot.com/2008/09/weep-for-free-market.html

Russian stocks close more than 20 percent higher

Congrats Commarades.

What did you expect if you pour 20 bilion dollars? :-)

However-

3 days ago - 17%
2 days ago - 10%
yesterday - flat.

...I believe exchange is 7% underwater?!?

... or more depends what period you looking for ... minus 60% ?!?!

Russian exchange:
http://www.rts.ru/

Another Late-Summer Natural Gas Low?

http://www.safehaven.com/article-11283.htm

Another weekend song for Rick

Financials - GS, MS, FNM, FRE, AIG

It's an illusion.

Despite the drop yesterday, and despite (or may be because) of hundred of billions pour in the market, those two stocks are flat for the week.

Fanny - almost flat, Freddie - 20% up :)

Formal Dow component AIG - 60% down...

Law of Supply & Demand Is Dead for Gold & Silver

They said this is good article. Will read it... these days, too long for today... :)

http://seekingalpha.com/article/95496-law-of-supply-demand-is-dead-for-gold-silver?source=front_page_most_popular_articles

Afternoon readings

Treasury to Insure Money-Market Funds
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/09/paulson.html

Treasury to Insure Money-Market Funds
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/09/treasury-to-insure-money-market-fund.html

Armageddon Postponed - Fed Intervenes In Money Markets
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/397249023/armageddon-postponed-fed-intervenes-in.html

Goodbye, Free Market! SEC Says It Will Ban Short-Selling on Financial Stocks!
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/goodbye-free-market-sec-says-it-will.html

Gold ETF (AMEX: GLD) Looks Set To Crash and Burn On Friday
http://www.joe-duarte.com/saved_newsletters/2008_09/080919PR.html
nice chart

Terror Attack on US Financials? Details of SEC Short Ban
http://bigpicture.typepad.com/comments/2008/09/terror-attack-o.html
MUST READ!!!

Federal Government Will Take Bad Assets
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/federal-government-will-take-bad-assets.html
if you follow him, pls read

Government Yells "FIRE" in Crowded Movie Theater
from The Great Depression of 2006 by Jim in San Marcos
The post said:
>>>Stock market is going ballistic. It might just be time to head for the exits.
I agree...

The Fed Is Relevant…. For Now…. However…..

Good article from my friend Doug Eberhardt
http://youcanmakeadifference.org/fedup/archives/26

Minefinders up.

May be (naked) short selling rule is working, becuse MFN is ~10% up.
However a colege told me most of shorts were covered @ $5-$6 last week.
I am waiting for Marc's interview tomorrow...

Petrobras spiked up...

Petrobras spiked up to $50, but then fall.
Currently ~ $44-45 (10% up)

There is no news on this event yet, but I noted oil was $102 at that moment.

Weekend song - Goodbye Rick

Hey you, out there in the cold
Getting lonely, getting old
Can you feel me?
Hey you, standing in the aisles
With itchy feet and fading smiles
Can you feel me?
Hey you, dont help them to bury the light
Dont give in without a fight.

Hey you, out there on your own
Sitting naked by the phone
Would you touch me?
Hey you, with you ear against the wall
Waiting for someone to call out
Would you touch me?
Hey you, would you help me to carry the stone?
Open your heart, Im coming home.

But it was only fantasy.
The wall was too high,
As you can see.
No matter how he tried,
He could not break free.
And the worms ate into his brain.

Hey you, standing in the road
Always doing what youre told,
Can you help me?
Hey you, out there beyond the wall,
Breaking bottles in the hall,
Can you help me?
Hey you, dont tell me theres no hope at all
Together we stand, divided we fall.

Well, only got an hour of daylight left. better get started
Isnt it unsafe to travel at night?
Itll be a lot less safe to stay here. youre fathers gunna pick up our trail before long
Can loca ride?
Yeah, I can ride... magaret, time to go! maigret, thank you for everything
Goodbye chenga
Goodbye miss ...
Ill be back

We are all Pakistani's now...

Short selling ban.

Did you read correct? Yes. Short selling, not Naked short selling.
Is done in US and UK copy the rule imediately after that as usual.

Yesterday I posted a comment that Anti-Naked short selling rules are actually very good, however today, I can not dissagree that the ban of short selling is just like what they did in Pakistan.

We are all Pakistani's now... :o)

US:

SEC Bans Short Selling of Financial Stocks
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/09/sec-bans-short-selling-of-financial.html

Peak Insanity: SEC Plans to Temporarily Ban Short-Selling
by Mish
http://globaleconomicanalysis.blogspot.com/2008/09/peak-insanity-sec-plans-to-temporarily.html

SEC Issues Emergency Order - Bans All Short Selling of 799 Financial Stocks
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/sec-issues-emergency-order-bans-all.html

UK:

Britain Bans Short-Selling Citing 'Extreme' Market Climate
by Mish
http://globaleconomicanalysis.blogspot.com/2008/09/britain-bans-short-selling-citing.html

UK Bans All Short - Selling of Financial Shares Until 2009
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/uk-bans-all-short-selling-of-financial.html

Busy

Yesterday I publish this
http://nmmmnu.blogspot.com/2008/09/ppt.html
Looks like PPT did good job, so yesterday das borse closed ~300 points or so up.

Everything looks to me very inflationary, today Paulson said they pour "some hundred bilions", we will see.

Ah, yes - short selling is ban, not only in USSR-US, but in USSR-UK too. More for this in next post.

More - dominoes began to fall. Lehman broke because of Freddie. Now Freddie post loses because of Lehman. Unbeliveble.

Today I was very busy to renew domains (for more than $1,200 :-) ), so I had no way to post my readings.

Anyway, here you are:

Readings:

Huey hears the Hueys
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/396130129/huey-hears-hueys.html

It's raining dollars, hallelujah
by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/its-raining-dollars-hallelujah.html

China, Russia Intervene In Equity Markets
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/396324091/china-russia-intervene-in-equity.html

And you thought G. W. Bush had badly hurt the United States?
http://realitylenses.blogspot.com/2008/09/and-you-thought-g-w-bush-had-badly-hurt.html

Senator Schumer Proposes One Of the Dumbest Ideas Yet
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/senator-schumer-proposes-one-of-dumbest.html

Checking in on the inventory at the silver ETF
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/09/checking-in-on-silver-etf-inventory.html
nice chart as he usuallu do

Focused on Gold
from Trend and Value Report by Lucas Elam
http://feeds.feedburner.com/~r/trendandvalue/~3/396987937/focused.html
interesting gold chart. but how he did it - nobody knows :)

Freddie Mac Suffers Losses - Was Making Large Loans to Lehman
http://jessescrossroadscafe.blogspot.com/2008/09/freddie-mac-suffers-losses-was-making.html
Dominoes...

2008-09-18

PPT

So much ammunitions and Dow up only 33 points,
even they removed evil AIG from Dow...

Where is Plunge Protection Team when we need them?!?!?

2008-09-17

Central Banks Announce Global Coordinated Liquidity Measures

http://globaleconomicanalysis.blogspot.com/2008/09/central-bank-global-coordinated.html

Readings and news

$100 bounce of gold price.

Financial stocks smashed. Were is PPT when we need them? :o)

Wachovia considering merger with Morgan Stanley.

My Bad -- It's $900 Billion We're On the Hook For
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/my-bad-its-900-billion-were-on-hook-for.html

And Yet More Shit Hits the Fan
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/and-yet-more-shit-hits-fan.html
WaMu and Wachovia

FDIC Assurance Insurance, a Failure
from The Great Depression of 2006 by Jim in San Marcos
http://greatdepression2006.blogspot.com/2008/09/fdic-assurance-insurance-failure.html
Stockexchange shutdown explained.
My oppinion is that stockexchange shutdown is a good thing. Today lot of trades are made from computers. Lot of traders are made from Cramericans, who are even dumber than computers.
The events from 1987 are computer made. If there were no computers trading then, the exchange could not fall that much.

Gold ETF inventory increases by 37 tonnes
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/09/gold-etf-inventory-increases-by-37.html
nice chart

Deja vu? LET'S HOPE NOT!
BY CHRIS PUPLAVA
http://www.financialsense.com/Market/cpuplava/2008/0917.html

The Death of Paper Money
by Douglas V. Gnazzo, Honey Money Report
http://www.financialsense.com/fsu/editorials/gnazzo/2008/0917.html
Nice little article from Doug

The End of Central Banks (Gold) Selling.
http://www.24hgold.com/viewarticle.aspx?langue=en&articleid=317991_The+End+of+Central+Bank+Selling%3F

Dumbest Merger Proposal In History: Wachovia + Morgan Stanley
http://globaleconomicanalysis.blogspot.com/2008/09/dumbest-merger-proposal-in-history.html
dont understand the article ;)

Charts In the Babson Style At Midweek 17 September 2008
http://jessescrossroadscafe.blogspot.com/2008/09/charts-in-babson-style-at-midweek-17.html

The Last Bubble in this Credit Cycle is ... the USD
http://jessescrossroadscafe.blogspot.com/2008/09/last-bubble-in-this-credit-cycle.html

BSE

Today I load some possition on BSE (BG Stock Exchange),
we will see what will happen there.

ATERA, ADVEQ, SFARM, OTZK, FIB

(sorry if I misspell some tickers)

SFARM @ 3 lv.
FIB @ 5 lv.
Can you believe it ;)

Picture from 12.JUL.2000

Greenspan and Greenberg @ 2000 discussing "The next financial crisis"

German Bank KfW Handed Lehman €300 Million Hours Before Bankruptcy

Das ist fantastisch :o)

http://jessescrossroadscafe.blogspot.com/2008/09/german-bank-kfw-handed-lehman-300.html

Germany angered at last-minute loss in Lehman crash

Sep 17, 2008, 8:55 GMT
Reports that Germany's federal-government bank KfW handed over 300 million euros (420 million dollars) to Lehman Brothers only hours before the US investment bank failed, a newspaper said Wednesday.

Financials

Morgan Stanley off 32%.

Goldman Sachs off 21%.

Wachovia is off 25%.

WaMu is only off 10%.

Even GE is off 9%.

SEC for Naked Short Selling

SEC Issues New Rules to Protect Investors Against Naked Short Selling Abuses
http://www.sec.gov/news/press/2008/2008-204.htm

I believe, this is the reason gold is up.

Old but gold: Pakistan acts to halt market's plunge

Pakistan acts to halt market's plunge
http://www.iht.com/articles/2008/08/28/business/limit.php

Честит имен ден София!!!

Честит имен ден София!!!

Gold 800 again

It happen @ 16:45 my time.

Here are the news :

SEC SAYS WILL REQUIRE TRADERS WHO SHORT STOCK TO DELIVER SECURITIES AT SETTLEMENT DATE

SEC SAYS PENALTIES INCLUDE PROHIBITION OF FURTHER SHORT SALES IN SAME SECURITY

SEC SAYS PENALTIES INCLUDE PROHIBITION OF FURTHER SHORT SALES IN SAME SECURITY

also several messages for BOE helicopter drops (can't copy/paste it)

Russian borse shut down again.

Bloomberg just reports that Russian stock exchange shutted down again after 10% decline.

This is yesterday's message from Jesse, about shut down after 17% decline.
http://jessescrossroadscafe.blogspot.com/2008/09/russian-stock-market-halts-trading.html

AIG: Another day, another bailout.

AIG deal is done. The company is nationalized.

Ask and shall be given.

AIG asked for $40B, received $85B. Apparently AIG is another one who is too big to fail.

US government and FED are now in insurance business too, owning 79.9% of AIG. Shareholder receive once again ... nothing.

Who will pay these $85 billions? Could be US taxpayer or money can be just printed - in such case, all USD holders will pay.

Next move from FED must be to allow someone to fail... again. May be WaMu?

Government saves AIG with $85 billion loan, takes 80 percent stake in battered insurance giant
http://biz.yahoo.com/ap/080917/aig.html

News

Russian Stock Market Halts Trading After a 17% One Day Decline
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/russian-stock-market-halts-trading.html
Usually these drops are related to computer trading systems.
Note, NYSE has similar shutdown rule, but is 10% of DJIA index.

Nigerian militants say Shell pipeline destroyed
LAGOS (AFP) - A Nigerian rebel group said Tuesday it had blown up and destroyed a Royal Dutch Shell pipeline in the latest attack in its "oil war" on western firms.
http://www.afp.com/english/news/stories/newsmlmmd.be58bf037a3e2d17656abca4abad1a30.21.html

Price of oil drops, gas rises…what?
http://www.wallstrip.com/2008/09/16/price-of-oil-drops-gas-riseswhat/#comment-65843

The AIG Deal In Detail

Best AIG article published last 2 days. Must read.
The Bonddad Blog: The AIG Deal In Detail

2008-09-16

Internet Bots: Anatomy of a Stock Selling Frenzy

How United Airlines' stock dropped from $12.50 to $3 per share in the matter of 15 minutes:
http://www.hothardware.com/News/Internet-Bots-Anatomy-of-a-Stock-Selling-Frenzy/Default.aspx

I don't follow airline stocks, but this is amazing. This shows why you need to trade fundamentally and "calm" looking at the long term.

Goodbye Richard Wright

Kinross Now Owns 90.7% of Aurelian Shares

http://biz.yahoo.com/iw/080916/0434147.html

Message from my CFD broker

Dear Clients,

Due to changes in the underlying markets, from 17.09.2008 the following companies will be stopped for trading in Delta Trading:

Lehman Brothers Holdings Inc. LEH
Merrill Lynch & Co., Inc. MER
Amer INTL Group INC AIG
Freddie Mac FRE
Fannie Mae FNM

We wish you successful trading!

Readings

Dow down 500 points, under 11,000 mark...

S&P Lowers WaMu Credit Rating to Junk
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/393575290/s-lowers-wamu-credit-rating-to-junk.html

AIG Deal before U.S. Market Open?
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/393765948/aig-deal-before-us-market-open.html

Charts in the Babson Style for 15 September 2008
http://jessescrossroadscafe.blogspot.com/2008/09/charts-in-babson-style-for-15-september.html

FOMC Rate Decision Tomorrow
15 September 2008
http://jessescrossroadscafe.blogspot.com/2008/09/hewlett-packard-to-cut-24600-jobs-or-75.html
...and...
A rate cut tomorrow?
from The Mess That Greenspan Made by Tim
http://themessthatgreenspanmade.blogspot.com/2008/09/rate-cut-tomorrow.html

Free market is a joke in the corrupt United Socialist States of America
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/393610460/free-market-is-joke-in-corrupt-united.html

Keep Your Eyes Open
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/keep-your-eyes-open.html

2008-09-15

Sir Alan on LEH and other things.

Video interview with Alan Greenspan on so called "on in a century problem"...
http://abcnews.go.com/video/playerIndex?id=5798760

Честит ви 15 Септември :)

Честит 15 Септември на всички ученици и учители!!!

Incredible but fact

Oil trading under $100 mark,
Meanwhile Mish writting for Oil shortages...

Bank of America buys Merrill - $50 billion

Another shoe to drop...

Monday that it has bought Merrill Lynch in an all-stock deal valued at as much as $50 billion.
The purchase price would value the company at more than $29 a share, at least a 70% premium from Merrill's closing price on Friday of $17.05.

http://money.cnn.com/2008/09/14/news/companies/merrill_bofa_talks/index.htm?cnn=yes

Readings from Safe Haven

Honest Money Gold and Silver Report: Market Wrap
by Douglas V. Gnazzo
http://www.safehaven.com/article-11235.htm

Gold/Silver/USD Market Update
by Clive Maund
http://www.safehaven.com/article-11232.htm
and
http://www.safehaven.com/article-11231.htm

Commodities and Oil
by Adam Hamilton
http://www.safehaven.com/article-11219.htm

Freaky weekend ... again :)

2008-09-12

Song for the weekend: Shantel - Bucovina

Shantel - Bucovina
Shantel is German, song is Romanian :-)

links for today

Critical Q & A!
by Larry Edelson 09-11-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2217

Bloomberg: Senators Ask Fannie / Freddie to Freeze Foreclosures
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/389921395/bloomberg-senators-ask-fannie-freddie.html

WaMu: $4.5 Billion in Loan Loss Provisions, Fitch Downgrades
from Calculated Risk by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/09/wamu-45-billion-in-loan-loss-provisions.html

Bailouts, bailouts everywhere
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/bailouts-bailouts-everywhere.html

Gold will shine after dark times
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/09/11/gold-will-shine-after-dark-times/

First impacts of wiping out the preferred stocks of Fannie & Freddie
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/390041811/first-impacts-of-wiping-out-preferred.html
OPSA... MUST READ

The Fed is long financials/short commodities
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/389775783/fed-is-long-financialsshort-commodities.html
Don Coxe view, here are the full webcast (replace tildes with slashes):
events.startcast.com~events~199~B0003~code~eventframe.asp

AIG - Not Looking Good
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/aig-not-looking-good.html
Is all about FNM and FRE :)

2008-09-11

Petrobras & more.

Petrobras did it again :)

Fresh oil find shows up to 4 billion barrels in Brazil
By Steve Goldstein, MarketWatch
http://www.marketwatch.com/news/story/another-big-oil-discovery-off/story.aspx?guid=%7B847FA55E%2D0583%2D4A6D%2D931C%2D4A81820A742F%7D&siteid=yhoof

However other things not looking that good:

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/thursday-oil-market-round-up_11.html

Silver and Gold (and HUI / GDX)
by Adam
http://adamsoptions.blogspot.com/2008/09/silver-and-gold.html

Banking collapse

Chart of Fannie, Fredie, Lehman, WaMu, Merill

Fed May Expand Funding Aid to Banks in a `Mother of Year-Ends'

http://www.bloomberg.com/apps/news?pid=20601087&sid=aavHtPEY4aCc&refer=home
MUST READ.
I can not decide is this inflationary or deflationary...

Readings

WaMu stockprice down.
-

Pick Yer Bottom
from Trend and Value Report by Lucas Elam
http://feeds.feedburner.com/~r/trendandvalue/~3/389310392/pick-yer-bottom.html

What Else Can Be Done To Prevent A Recession?
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/what-else-can-be-done-to-prevent.html

Thank you
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/389119518/thank-you.html
Buy gold?

Warren Buffett reportedly exiting the bank deposit insurance business
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/warren-buffett-reportedly-exiting-bank.html

Goldcorp Looking at Junior Miners Acquisitions, Gold to 1500
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/goldcorp-looking-at-junior-miners.html

Business As Usual At Fannie Mae
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/389032467/business-as-usual-at-fannie-mae.html
what are $100 billion between friends?

Dow Jones Indus and S&P 500 in $, € and Gold
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/389144299/dow-jones-indus-and-s-500-in-and-gold_10.html

2008-09-10

North Korea developments

Readings

TODAY
Oil Update
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/what-interesting-turn-of-events.html

(Bill) Gross Profits
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/gross-profits.html

HUI: The good, the bad and the uuuhhgggly
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/388625343/good-bad-and-uuuhhgggly.html

Don Harrold for Automaker bailout.
http://www.youtube.com/watch?v=ECokYXXLTFk

SPDR Gold Trust (GLD) holdings dip more than 10 tons
http://www.bbj.hu/main/news_43459_spdr%2Bgold%2Btrust%2Bholdings%2Bdip%2Bmore%2Bthan%2B10%2Btons.html
at lieast this makes sence...

De-Coupling Bites the Dust
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/de-coupling-bites-dust.html

A MOVIE ALREADY POSTED BEFORE:

PREVIOUS:
09 September 2008
Dollar Musings and the Potential for a Significant Stock Market Decline
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/dollar-musings-and-possible-stock.html

09 September 2008
Weaker Oil Demand?
by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/weaker-oil-demand.html

02 September 2008
What I Tell Myself When Gold Sells Off
Source: Jeff Clark, Casey Research
http://www.theaureport.com/pub/na/1600

Maximum panic is the best time to buy gold and silver!
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/09/10/maximum-panic-is-the-best-time-to-buy-gold/

Wednesday Commodities Roundup
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/wednesday-commodities-roundup.html

2008-09-09

Brent under $100 ?!?!?

COIL1008 99.92-99.96
WTI1008 102.8-102.87

Lehman

As Jesse wrote who's next?, we have LEH down 40%.
This can explain why we have broad stock market, including mining, gold and oil down.

Foreign Investors a Key Driver Of Freddie and Fannie Deal

http://bonddad.blogspot.com/2008/09/foreign-investors-key-driver-of-freddie.html

Who's Next?

In order to regain a shred of credibility, the Fed has to let someone fail. Even if Ben does not realize it, Hank knows that someone has to take one for the team.

The question is, who?

http://jessescrossroadscafe.blogspot.com/2008/09/whos-next.html

Don Harrold for Fannie and Fredie

This is what I like to this guy - he speaks what he believes ;)

CERN movie - movie for CERN

Animation of 'The Bottle to Bang' by Chris Mann
http://cdsweb.cern.ch/record/1125472/

Uncle Jay Explains

MFN Dolores update

Mark Bailey @ the Denver Gold

To listen go here (open it in new window):
http://events.onlinebroadcasting.com/denvergold/090808/index.php

Go to 8.SEP, go to 2:40pm or search for Minefinders. Click on the link...

JetBlue goes eBay

From WallStrip:

Last night, JetBlue put more than 300 round-trip flights and a bunch of vacation trips up on eBay for auction. The bids started last night, with starting prices around 5 or 10 cents.

It’s a great stunt…who knows? They might get more than they would have charged for these tickets. Maybe that’s what they’re banking on. Smart.

Ticket gets too expensive? Hey, it’s not JetBlue’s problem…it’s YOURS!

Here’s more, from the Orlando sentinel:

Bids were set to begin by 9:30 p.m. last night. The auction lengths will vary
from three to five to seven days.

“We’re putting the price of
spontaneous weekend trips this fall into the hands of our customers,” Don
Uselmann, manager of Business Development for JetBlue, said in a written
statement.

Read the full story here.

Readings

The unpresidented Fannie and Freddie bailout changes most of the news and readings from the week. Here you are large portion of link, large because we having major event.

Today's Menu:

1. Misc news
2. Safehaven news
3. Fannie and Freddie news
4. Fannie and Freddie news from Reggie
5. Old Fannie and Freddie news

Misc news:

Monday Morning Charts
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/monday-morning-charts.html

New Star Wars treiler
(see the movie)
http://www.dnes.bg/trailers.php?id=772

HUI capitulation alert
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/386814969/hui-capitulation-alert.html

Inflation will follow Freddie Mac and Fannie Mae bail out
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/09/09/inflation-will-follow-freddie-mac-and-fannie-mae-bail-out/
(can not understand the point)

GLOBAL DOWNSHIFT - The Well-Timed Strategy for Week Ending September 12th
by Peter Navarro, Ph.D.
http://www.financialsense.com/editorials/navarro/2008/0908.html
Navarro buying banks ?!?!?

Commodities correction now exceeds 2006 correction
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/09/commodities-correction-now-exceeds-2006.html
I did not do exact calculation, but gold and oil still far from 2006 correction

Safehaven news:

I did not read safehaven for days. These are news on interest from last Friday until now.

Unique Intraday Spot Gold Trade with GLD
by Chris Vermeulen
http://www.safehaven.com/article-11192.htm

Gold Thoughts
by Ned W. Schmidt
http://www.safehaven.com/article-11179.htm

Market Update: The Boyz are Back in Town
by Dominick
http://www.safehaven.com/article-11174.htm

ETF Bubble Trouble?
by Tyler Mordy
http://www.safehaven.com/article-11158.htm

Telling Action In Euro, Dollar As ECB Holds Rates
by Mike (Mish) Shedlock
http://www.safehaven.com/article-11146.htm

Mining chalanges
by Scott Wright from Zeal
http://www.safehaven.com/article-11155.htm

Fannie and Freddie news:

Why The Fannie-Freddie Bailout Will Fail
by Martin D. Weiss, Ph.D. 09-08-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2198

More thoughts on the bailout and post-bailout action
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/more-thoughts-on-bailout-and-post.html

CNBC: Paulson on Fannie Mae/Freddie Mac
http://cosmos.bcst.yahoo.com/up/finance?ch=4043681&cl=9638346&lang=

Fannie and Freddie Press Conference Videos
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/386263795/fannie-and-freddie-press-conference.html
In three parts (all about 10 minutes each).

Charts in the Babson Style for 8 September 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/charts-in-babson-style-for-8-september.html

Big Non-Event In Fannie, Freddie Credit Default Swaps
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/387287897/big-non-event-in-fannie-freddie-credit.html

Paulson And Others Translated
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/387028393/paulson-and-others-translated.html

Paulson Rolls The Dice At Taxpayer Expense
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/386006241/paulson-rolls-dice-at-taxpayer-expense.html

Fannie Mae and Freddie Mac to be Worth Zero for Shareholders
by chrispycrunch
http://chrispycrunch.blogspot.com/2008/09/fannie-mae-and-freddie-mac-to-be-worth.html

To Crash or Not To Crash?
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/386180659/to-crash-or-not-to-crash.html

Fannie and Freddie news from Reggie:
separated because site register need

More thougts on Fannie and Freddie
from Blog Entries by reggie
http://boombustblog.com/component/option,com_myblog/show,More-thougts-on-Fannie-and-Freddie.html/Itemid,81/

GSE's make the Doo Doo smell worse
from Blog Entries by reggie
http://boombustblog.com/component/option,com_myblog/show,GSEs-make-the-Doo-Doo-smell-worse.html/Itemid,81/

The GSE bailout represents a huge TAX hike
from Blog Entries by reggie
http://boombustblog.com/component/option,com_myblog/show,The-GSE-bailout-represents-a-huge-TAX-hike.html/Itemid,81/

Fannie and Freddie failures are but a microcosm for the entire industry
from Blog Entries by reggie
http://boombustblog.com/component/option,com_myblog/show,Fannie-and-Freddie-failures-are-but-a-microcosm-for-the-entire-industry.html/Itemid,81/

Old Fannie and Freddie news:

These are mostly informational, and does not include authors oppinions.

Fannie and Freddie getting "MOAB" -- plus, another bank failure
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/fannie-and-freddie-getting-moab-plus.html

US government takes on big role in mortgage market
from Lawinfo Weblog by admin
http://feeds.feedburner.com/~r/LawinfoWeblog/~3/386824726/

Jim Rogers: How the Federal Reserve Will Fail and the One Sector Every Investor Should Be In

http://www.moneymorning.com/2008/09/06/jim-rogers-book/

Things were so bad in the U.K. in the 1930s they made it an act of treason to use anything except sterling and then by ‘39 they had full-exchange controls. And then, of course, they had the war and that disaster. It was a disaster before the war. The war just exacerbated the problems. And by the mid-70s, the U.K. was bankrupt. They could not sell long-term government bonds. Remember, this is a country that two generations or three generations before had been the richest most powerful country in the world.

Now the only thing that saved the U.K. was the North Sea oil fields, even though Prime Minister Margaret Thatcher likes to take credit, but Margaret Thatcher has good PR. Margaret Thatcher came into office in 1979 and North Sea oil started flowing. And the U.K. suddenly had a huge balance-of-payment surplus.

Even Zimbabwe, you know, took 10 or 15 years to really get going into it’s collapse, but Robert Mugabe came into power in 1980 and, as recently as 1995, things still looked good for Zimbabwe. But now, of course, it’s a major disaster.

(Q): There’s a lot of talk that the Chinese will use the Olympics to launch a new wave of nationalism and to move ahead. Are the Olympic Games as relevant as some people think?
...
America had the Olympics in ‘96 and it had no effect on the American economy - before or after. Some people in Atlanta were affected before and after. And some people who were involved with the Olympics were affected before and after.
...
Sydney, Australia had the 2000 Olympics. It had virtually no effect on the Sydney, or on the Australian economy - even though Australia had 18 million people. It’s tiny … nothing. Yes, it had an effect on some people.

(Q): Are you still bullish on China?
...
Oh, yeah.

2008-09-08

Stocks Surge on Plan for Mortgage Giants, however...

Yahoo published Stocks Surge on Plan for Mortgage Giants, however the giants' investors are broke.

+--------+------------+-------+-----------------+-------------+
| Symbol | Last Trade | Price | Change          | Volume      |
+--------+------------+-------+-------+---------+-------------+
| FNM    | 10:37AM ET | 1.20  | -5.84 | -82.95% | 185,016,449 |
| FRE    | 10:37AM ET | 1.15  | -3.95 | -77.45% | 147,094,324 |
+--------+------------+-------+-------+---------+-------------+

It looks to me like Bear Stearns back in time...

Two Forces Driving the Credit Crunch

by Mike Larson 05.SEP.2008
This was written *before* Fanny and Freddie, but is good article.
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2186

Readings

Today I deliberately did not include anything on Fannye and Freddy
will do so *AFTER* market open when I can see the stock price of FNM and FRE

Main Bank of China Is in Need of Capital
http://www.nytimes.com/2008/09/05/business/worldbusiness/05yuan.html?_r=3&pagewanted=1&ref=business&oref=slogin

News and Charts -- TGIF Edition
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/news-and-charts-tgif-edition.html

Charts (title unknown)
from The Martin Market Report by Martin
http://martinmarketreport.blogspot.com/

Charts in the Babson Style for the Week Ending 5 September 2008
http://jessescrossroadscafe.blogspot.com/2008/09/charts-in-babson-style-for-week-ending.html
...and...
US Dollar Weekly Charts
http://jessescrossroadscafe.blogspot.com/2008/09/us-dollar-weekly-charts.html
(not so interesting charts)

There's a Bull Market Somewhere? - Answer to Bill Gross
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/384919329/theres-bull-market-somewhere-answer-to.html

OPEC: Production cutback is unlikely
from Business and financial news - CNNMoney.com
http://rss.cnn.com/~r/rss/money_topstories/~3/386570478/index.htm
Hugo Chavez don't think this way... :-)

Hurricane IKE:

Ike Tracks into the Gulf Oil Complex
http://jessescrossroadscafe.blogspot.com/2008/09/ike-track-into-gulf-oil-complex.html
...and...
Hurricanes by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/09/hurricanes.html

In Bulgarian:

Антибългарският интернет
from ИВАН БЕДРОВ
http://ivanbedrov.blogspot.com/2008/09/blog-post.html
(Опасните новини)

Крепостни пациенти
from Блогът за икономика by Георги Ангелов
http://ikonomika.org/?p=1487

2008-09-07

Opsa ... Fannie and Freddie nationalization

Officials announce takeover of mortgage giants

Government assumes control over mortgage giants Fannie Mae and Freddie Mac

WASHINGTON (AP) -- The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.

Officials announced that the executives and board of directors of both institutions had been replaced. Herb Allison, a former vice chairman of Merrill Lynch, was selected to head Fannie Mae, and David Moffett, a former vice chairman of US Bancorp, was picked to head Freddie Mac.

http://biz.yahoo.com/ap/080907/mortgage_giants_crisis.html

2008-09-05

Readings

Best Quotes of August 2008
by John Rubino
http://www.safehaven.com/article-11141.htm
Love it.

Technical Update on Broader Market
by Roy Martens
http://www.safehaven.com/article-11140.htm
interesting, but out-dated. Oil and Gold are lower, dollar is higher.

The World as We See It
by Bud Conrad
http://www.safehaven.com/article-11138.htm
Good chart of US account balance, however I do not see this as "such a very bad thing".

Arabian investors snap up bargain gold and silver
http://arabianmoney.net/2008/09/05/arabian-investors-snap-up-bargain-gold-and-silver/
Abu Dhabi gold sales 300% up

Telling Action In Euro, Dollar As ECB Holds Rates

Yet another deflationista article from Mish.
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/383604700/telling-action-in-euro-dollar-as-ecb.html

Housing bubble in UK

http://anti-citizen-one.blogspot.com/2008/09/leanne-donaldson-28-administrator-and.html

Make sure you read my comments too :-)

2008-09-04

HUGE Readings

USD
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/382789161/usd.html

Tokyo Mitsubishi Another False Rumour about a Potential Lehman Bid
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/09/times-of-london-report-another-false.html

GM, Ford, Chrysler Sales Collapse
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/382941336/gm-ford-chrysler-sales-collapse.html
I already wrote about this - sales decline...

AMEX Gold BUGS Index
by David Petch
http://www.safehaven.com/article-11137.htm
nice prediction :)

OPEC_September_2008
http://netoilexports.blogspot.com/2008/09/opecseptember2008.html

OPEC consensus building for supply cut-PFC
http://africa.reuters.com/energyandoil/news/usnL4273754.html?rpc=401
...and...
Nigeria: Oil Producers May Compel Opec to Cut Supply
http://allafrica.com/stories/200809030617.html

There's a Bull Market Somewhere?
Bill Gross (Pimco)
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2008/Investment+Outlook+Bill+Gross+Sept+2008+Bull+Market.htm
(What Happens During Delevering)

Cantarell Is Not Mexico's Only Oil Production Problem
http://www.redorbit.com/news/business/1541676/cantarell_is_not_mexicos_only_oil_production_problem/
(did not read it)

Reflections from Rome: global economy doomed, buy gold and silver!
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/09/04/reflections-from-rome-on-the-global-economic-outlook/

At the Intersection of Cantarell and HoweStreet
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/at-intersection-of-cantarell-and.html

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/thursday-oil-market-round-up.html
(bonddad: This is now a bearish chart)

Sony takes a hit with Vaio recall
from Wallstrip
http://www.wallstrip.com/2008/09/04/sony-takes-a-hit-with-vaio-recall/

In Bulgarian:
Министерски / Minister's (news)
from Блогът за икономика by Георги Ангелов
http://ikonomika.org/?p=1483

The poisonous frogs

http://news.bbc.co.uk/1/hi/sci/tech/7597107.stm

Nice movie...

Car sales dip.

Ford sales - 27% off.
You think is much? What about Crysler sales - 34% off...

A Storm Called Cantarell

by Sean Brodrick
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2175

Article for Mexico's giant oil field

2008-09-03

Nouriel Roubini - "a 12 to 18 month recession"

Part 1. http://www.youtube.com/watch?v=51SxmcaKJIw
Part 2. http://www.youtube.com/watch?v=8nCdLs7l4D4
Part 3. http://www.youtube.com/watch?v=BmiBV3o80bk

Charts

Today I spoke with a frinend for our investments and economy. Here you are some charts:

Petrobras support is not broken yet:

Case Shiller index (in this case in Seatle),
show declining housing prices. Where price will go? Back in the channel - 140-150.
Sad for the bank, but this is what chart show.
However I still think the hyperinflation will took over and house prices measured in US dollars will bottom before 150.

Unfortunately Oil broke the support, but 50 day MA is still OK (for now)
However once again decline calculation:

Decline in Jul 2006 - from 80 to 51 = 36%
Decline in Jul 2008 - from 148 to 106 = 28% (so far)

My friend suggest because both declines began in July, they probably will end at same time - January 2009. I have no idea, but we have huricanes, wars, OPEC, US elections... I believe bottom will be before end of the year at current levels.

Oil and Gold measured in EUR:
These charts show Oil and Gold measured in EURo. There are wide spread rummor that Oil, Gold etc are almost flat in EURos. Here are the charts. Thin line is the commodity in USD.

Oil:
until August, Oil tracked same movement in both EUR and USD. In August Oil is flat in EUR, but falling in USD.

Gold:
until 10-12 days ago Gold tracked almost same movement in both EUR and USD. Currently movements are separated, but separation is not that big - see April - May.

Readings No.2

Thoughts on auto sales, hedge funds, big cuts at ResCap, and more
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/09/thoughts-on-auto-sales-hedge-funds-big.html

Food For Thought
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/09/food-for-thought.html
double top in SPX

Now that's really funny...
from The Mess That Greenspan Made
http://themessthatgreenspanmade.blogspot.com/2008/09/now-thats-really-funny.html

Ospraie Management to close hedge fund
The Wallstrip Blog
http://www.wallstrip.com/2008/09/03/ospraie-management-to-close-hedge-fund/

Readings

Real Interest Rates Are High
by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/382081879/real-interest-rates-are-high.html

By ignoring housing prices, the CPI massively understated inflation for years. The CPI is massively overstating inflation now.

Wednesday News Roundup
by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/wednesday-news-roundup.html

Wednesday Commodities Round-Up
by bonddad
http://bonddad.blogspot.com/2008/09/wednesday-commodities-round-up.html

2008-09-02

Gustav damage update: the oil is okay…maybe

From The Wallstrip Blog

The post-Gustav state of oil is looking pretty good, according to some. But others have a different outlook.

Did we have to dip in to the U.S. Strategic Petroleum Reserve (SPR)? How long will it take to restore production? How much did we lose? No one really knows.

But here’s more confusion, from Reuters:

Several major U.S. refiners said early checks on Monday showed their facilities were unharmed by Hurricane Gustav, but at least two others were said to be considering dipping into the U.S. Strategic Petroleum Reserve to keep operations going after the storm shut down key waterways.
[ ... ]
Facing reduced feedstock supplies, Exxon Mobil Corp and Shell Oil Co. are expected to seek emergency crude from the U.S. Strategic Petroleum Reserve (SPR) on Tuesday, Louisiana’s Republican Gov. Bobby Jindal said. An Exxon spokeswoman said she could not confirm Jindal’s statement. A U.S. Energy Department official said no requests had yet been made to uncork some of the 700 million barrels of crude the U.S. has on hand for a supply interruption.

Link:
http://www.wallstrip.com/2008/09/02/gustav-damage-update-the-oil-is-okaymaybe/

My comment -
is there oil in Strategic Petroleum Reserve ?!?! I believe they stopped filling it...

Oil quote

Minute ago on Bloomberg:

The lower price of oil, around $78 is better for Saudies than $140.
They will do not that much money, but the world will not fell in recession.

Ah!?!? What the... ??!!!? C'mon moon is only 9% full.

Morning slump

I do not understand why oil is down today. Explanation I heard is because refineries are off-line, so demand is near zero.

Thats good. Let say refineries will start work after 3 mo. This means great surplus in oil reserves.

However, why stocks are up?!?! Am I the only one who think market with his infinite wisdom is wrong again.

Lets get an example with an airline company. Airline will spend less money for gasoline, but there will be no gasoline... (at least this is the reason they say oil is down)

On top of everything FNM and FRE will be ... merged into company called Franie-stein.

Just listen on Bloombers an analyst who said - Oil is a bubble, we will see $79 before end of the year. We will see also parity between EUR and USD.

Other articles:

They Could Call It Moronic
http://calculatedrisk.blogspot.com/2008/09/they-could-call-it-moronic.html
Fanny and Freddie merge?!?!

Monday Morning ARGH!
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/09/monday-morning-argh.html

Strange Days: Futures Drop as Hurricane Nears Gulf
The Wallstrip Blog
http://feeds.feedburner.com/~r/wallstrip/~3/381391721/

Inflation or Deflation?

CommodityWatch released the part 2. Now you can download and listen two parts together :-)

Part 1:
http://commoditywatch.podbean.com/medias/feed/aHR0cDovL21lZGlhMS5wb2RiZWFuLmNvbS8yNTE2L3UvaW5mbGF0aW9ub3JkZWZsYXRpb25QdDEubXAz/inflationordeflationPt1.mp3
Part 2:
http://commoditywatch.podbean.com/medias/feed/aHR0cDovL21lZGlhMS5wb2RiZWFuLmNvbS8yNTE2L3UvaW5mbGF0aW9uLWRlZmxhdGlvblB0Mi5tcDM/inflation-deflationPt2.mp3

2008-09-01

Another chart going parabolic...

From Money and Markets:

Whole (small) article:
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2158

Readings

Is the Commodity Squeeze Over?
by Sean Brodrick 08-27-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2137

Latest FDIC Report Reads Like a Horror Novel
by Mike Larson 08-29-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2143

US Dollar Weekly Charts
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/us-dollar-weekly-charts_29.html

Credit Cards, the Big Black Hole (Reprinted)
from The Great Depression of 2006 by Jim in San Marcos
Reprint from April 7, 2007
http://greatdepression2006.blogspot.com/2008/08/credit-cards-big-black-hole-reprinted.html

Inflation charted, exposed - it’s not your granddaddy inflation
http://yellowroad.wallstreetexaminer.com/blogs/2008/08/29/inflation-charted-exposed-its-not-your-granddaddy-inflation/

More info about Central Banks intervention on the USD
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/379812796/more-leads-to-central-banks.html

EuroZone Inflation Eases
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/378424163/eurozone-inflation-eases.html
Very nice XEU chart.

Gustave watch:

Gustav Intensifies to Category 4 Hurricane, May Turn More Deadly
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/gustav-intensifies-to-category-4.html
...and...
Oil and Gustav
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/08/oil-and-gustav.html
...and...
Gustav takes aim at N'awlins, oil prices
by PJ (CalculatedRisk)
http://calculatedrisk.blogspot.com/2008/08/gustav-takes-aim-at-nawlins-oil-prices.html

In Bulgarian:

"Порно режимът" на Интернет експлорър 8 е сериозна заплаха за Гугъл
"InPrivate Mode" in IE8, Google and Firefox
http://e-vestnik.bg/4533

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All information on this site is for educational purposes only, and can not be view as trading advice!!!If you have any questions, comments, or criticisms regarding the blog, please feel free to drop us a comment :-)Labels are implemented after 16.APR.2007

All information on this site is for educational purposes only, and can not be view as trading advice!!!

If you have any questions, comments, or criticisms regarding the blog, please feel free to drop us a comment :-)

Labels are implemented after 16.APR.2007