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EU SOVEREIGN CRISIS |
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Texas, Ireland and Ten Little Indians |
Mauldin |
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EU's Bailout Fund May Be Increased, Reynders Says in a Break
With Merkel` |
Bloomberg |
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Europe’s leaders at odds over bond plan |
FT |
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A hopeless Europe, unable to cope |
Manchau |
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SPAIN |
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Spain declares 'state of alarm' over air chaos |
AP |
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GERMANY |
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Merkel raised question of German euro membership |
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IRELAND |
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In Ireland, There’s an All-Too-Familiar Gloom |
NY Times |
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Ireland's economic troubles don't stop at water's edge |
Seattle Times |
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Ireland to speed up shrinking of banks |
FT |
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JAPAN |
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14 Signs That America Is Turning Into Japan Or WORSE |
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USA |
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Was There A Big Recession Warning Buried Inside This Week's ISM |
BI |
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Junk Bond Market `Back Open' as Sales Soar, Spreads Shrink:
Credit Markets |
Bloomberg |
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Bond fund outflows reflect shift in attitudes |
FT |
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As Bonds Flag, Stocks Beckon WSJ |
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Friday Showed More Signs Of A Revolution In The Bond Market |
BI |
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Mounting State Debts Stoke Fears of a Looming Crisis |
NY Times |
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Big Banks Are Stifling Economic Growth And Taxing Consumers |
BI |
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Value Sinking Fastest on Homes Priced Low to Start |
NY Times |
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U.S. Health Care Costs Since 1980 |
Big Picture |
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Private equity’s boom may soon fade |
FT |
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Tax Deal Within Reach |
WSJ |
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Newt Gingrich On WikiLeaks- 'Obama Admin So Shallow And
Amateurish At National Security It Is Dangerous' |
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BERNANKE- Growing Inequality Is Destroying America |
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CENTRAL BANKING & MONETARY POLICY |
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For All Intents And Purposes, Bernanke Has Now Launched QE3 |
BI |
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So That’s Where the Money Went |
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Groenewegen |
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Taleb |
CNBC |
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Fed Just Creating Asset Bubbles, Not Stimulus: Ross |
CNBC |
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America Bails Out A Thankless World |
Investors |
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Bernanke says QE2 could exceed $600bn |
FT |
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Inflation Risk Is Low, Fed Says |
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GENERAL INTEREST |
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WikiLeaks fights to stay online |
FT |
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Internet responds to US and UK government attempts to tighten control |
Computer Weekly |
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Kicking the Can |
Noland |
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MARKET WARNINGS |
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Hedge Funds Decline in November Amid Europe Debt Crisis,
Stock Market Drop |
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CURRENCY WARS |
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| MARKET
& GOLD MANIPULATION |
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JP Morgan revealed as mystery copper trader in London |
Telegraph |
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| VIDEO
TO WATCH |
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Complete Legend to the Right, Top Items below.
Articles with
highlights, graphics and any pertinent analysis found below.
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LATEST RESEARCH PUBLICATIONS |
RSS
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COMMENTARY for all articles by
Gordon T Long
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CURRENCY WARS: Debase, Default, Deny!
 In
September 2008 the US came to a fork in the road. The Public Policy
decision to not seize the banks, to not place them in bankruptcy court
with the government acting as the Debtor-in-Possession (DIP), to not split
them up by selling off the assets to successful and solvent entities, set
the world on the path to global currency wars.
By lowering interest rates and effectively guaranteeing a weak dollar, the
US ignited an almost riskless global US$ Carry Trade and triggered an
uncontrolled Currency War with the mercantilist, export driven Asian
economies. We are now debasing the US dollar with reckless spending and
money printing with the policies of Quantitative Easing (QE) I and the
expectations of QE II. Both are nothing more than effectively defaulting
on our obligations to sound money policy and a “strong US$”. Meanwhile
with a straight face we deny that this is our intention.
Though prior to the 2008 financial crisis our largest banks had become
casino like speculators with public money lacking in fiduciary
responsibility, our elected officials bailed them out. Our leadership
placed America and the world unknowingly (knowingly?) on a preordained
destructive path because it was politically expedient and the easiest way
out of a difficult predicament. By kicking the can down the road our
political leadership, like the banks, avoided their fiduciary
responsibility. Similar to a parent wanting to be liked and a friend to
their children they avoided the difficult discipline that is required at
certain critical moments in life. The discipline to make America swallow a
needed pill. The discipline to ask Americans to accept a period of intense
adjustment. A period that by now would be starting to show signs of
success versus the abyss we now find ourselves staring into. A future
that is now massively worse and with potentially fatal pain still to come.
READ MORE |
|
CURRENCY WARS: Misguided Economic Policy
 The
critical issues in America stem from minimally a blatantly ineffective
public policy, but overridingly a failed and destructive Economic
Policy. These policy errors are directly responsible for the opening
salvos of the Currency War clouds now looming overhead.
Don’t be fooled for a minute. The issue of Yuan devaluation is a political
distraction from the real issue – a failure
of US policy leadership. In my
opinion the US Fiscal and Monetary policies are misguided. They are wrong!
I wrote a 66 page thesis paper entitled “Extend
& Pretend” in the fall of 2009 detailing why the proposed Keynesian
policy direction was flawed and why it would fail. I additionally authored
a
full series of articles from January through August in a broadly
published series entitled “Extend & Pretend” detailing the predicted
failures as they unfolded. Don’t let anyone tell you that what has
happened was not fully predictable!
Now after the charade of Extend & Pretend has run out of momentum and more
money printing is again required through Quantitative Easing (we predicted
QE II was inevitable in
March), the responsible US politicos have cleverly ignited the markets
with QE II money printing euphoria in the run-up to the mid-term
elections. Craftily they are taking political camouflage behind an
“undervalued Yuan” as the culprit for US problems. Remember, patriotism is
the last bastion of scoundres
READ MORE
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READER ROADMAP
- 2010 TIPPING POINTS aid to
positioning COMMENTARY
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1
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1-SOVEREIGN DEBT |
|
2-EU BANKING CRISIS |
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3-BOND BUBBLE |
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4-STATE &
LOCAL GOVERNMENT |
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5-CENTRAL & EASTERN EUROPE |
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6-BANKING CRISIS II |
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7-RISK REVERSAL |
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8-COMMERCIAL REAL ESTATE |
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9-RESIDENTIAL REAL ESTATE -
PHASE II |
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10-EXPIRATION FINANCIAL
CRISIS PROGRAM |
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11-PENSION CRISIS |
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12-CHRONIC
UNEMPLOYMENT |
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13-GOVERNMENT BACKSTOP
INSUR. |
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14-CORPORATE
BANKRUPTCY |
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TODAY'S TIPPING POINTS UPDATE |
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RED ALERT |
AMBER ALERT |
ACTIVITY |
MONITOR |
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Click to Enlarge
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12-06-10
GEO-POLITICAL TENSIONS - ISRAEL / KOREA / IRAN
IRAN
ISREAL
KOREA
|
1-
SOVEREIGN DEBT & CREDIT CRISIS |
Junk Bond Market `Back Open' as Sales Soar, Spreads Shrink: Credit
Markets BL
Bond fund outflows reflect shift in attitudes
FT
As Bonds Flag, Stocks Beckon WSJ
Friday Showed More Signs Of A Revolution In The Bond Market
BI
|
4- STATE
& LOCAL GOVERNMENT |
Mounting State Debts Stoke Fears of a Looming Crisis
NYT
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5-
CENTRAL & EASTERN EUROPE |
Big Banks Are Stifling Economic Growth And Taxing Consumers
BI
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8-
COMMERCIAL REAL ESTATE |
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9-RESIDENTIAL REAL ESTATE - PHASE II |
Value Sinking Fastest on Homes Priced Low to Start
NYT (Norris)
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10- EXPIRATION FINANCIAL CRISIS PROGRAM
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11- PENSION & ENTITLEMENTS CRISIS
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U.S. Health Care Costs Since 1980 BIG Picture
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13- GOVERNMENT BACKSTOP INSURANCE |
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14- CORPORATE BANKRUPTCIES |
Private equity’s boom may soon fade FT
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19- PUBLIC POLICY MISCUES |
Tax Deal Within Reach WSJ
Newt Gingrich On WikiLeaks- 'Obama Admin So Shallow And Amateurish
At National Security It Is Dangerous' BI
BERNANKE- Growing Inequality Is Destroying America
BI
OTHER TIPPING POINT CATEGORIES NOT LISTED ABOVE
24-RETAIL SALES
26-GLOBAL OUTPUT GAP
31-FOOD PRICE PRESSURES
32-US STOCK
MARKET VALUATIONS
GENERAL INTEREST
WikiLeaks fights to stay online FT
Whistle-blower site switches domain to Switzerland
Internet responds to US and UK government attempts to tighten control
Computer Weekly
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In the latest move against online criminals,
US law enforcement authorities seized 82 websites this
week, alleging they distributed illegal copyright or counterfeited
material. Among the brand names mentioned in the
list of seized domain names are Burberry, Louis
Vuitton, Nike and Timberland.
Some site owners were quick to move their data to
servers outside US influence (including domains managed
by Verisign), leaving Twitter messages pointing customers to the
new domain.
|
Kicking the Can Noland FLASH CRASH - HFT - DARK POOLS
MARKET WARNINGS
Hedge Funds Decline in November Amid Europe Debt Crisis, Stock Market Drop
BL CURRENCY WARS
Q3 EARNINGS
MARKET &
GOLD MANIPULATION
JP Morgan revealed as mystery copper trader in London
Telegraph
| “The story is that they're positioning
themselves in front of the ETF” |
AUDIO / VIDEO
QUOTE OF THE WEEK
"Germany cannot keep paying for bail-outs without going
bankrupt itself. This is frightening people. You cannot find a
bank safe deposit box in Germany because every single one has
already been taken and stuffed with gold and silver. It is like an
underground Switzerland within our borders. People have terrible
memories of 1948 and 1923 when they lost their savings."
Professor Wilhelm Hankel, of Frankfurt University
EU rescue costs start to threaten Germany itself - Telegraph
"We're not swimming in money, we're drowning in debts"
German finance minister Wolfgang Schäuble before Bundestag
EU rescue costs start to threaten Germany itself - Telegraph
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PROMOTION DETAILS |
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Gordon T Long is not a registered advisor and
does not give investment advice. His comments are an expression of opinion
only and should not be construed in any manner whatsoever as
recommendations to buy or sell a stock, option, future, bond, commodity or
any other financial instrument at any time. While he believes his
statements to be true, they always depend on the reliability of his own
credible sources. Of course, he recommends that you consult with a
qualified investment advisor, one licensed by appropriate regulatory
agencies in your legal jurisdiction, before making any investment
decisions, and barring that, we encourage you confirm the facts on your
own before making important investment commitments.ont>
© Copyright 2010 Gordon T Long. The information
herein was obtained from sources which Mr. Long believes reliable, but he
does not guarantee its accuracy. None of the information, advertisements,
website links, or any opinions expressed constitutes a solicitation of the
purchase or sale of any securities or commodities. Please note that Mr.
Long may already have invested or may from time to time invest in
securities that are recommended or otherwise covered on this website. Mr.
Long does not intend to disclose the extent of any current holdings or
future transactions with respect to any particular security. You should
consider this possibility before investing in any security based upon
statements and information contained in any report, post, comment or
recommendation you receive from him.
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TODAY'S NEWS
MONDAY
12-06-10
DECEMBER
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ARCHIVAL |
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TIPPING POINTS |
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1-SOVEREIGN DEBT &
CREDIT CRISIS |
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2-EU BANKING CRISIS |
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3-BOND BUBBLE |
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4-STATE & LOCAL
GOVERNMENT |
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5-CENTRAL & EASTERN EUROPE |
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6-BANKING CRISIS II |
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7-RISK REVERSAL |
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8-COMMERCIAL REAL ESTATE |
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9-RESIDENTIAL REAL ESTATE -
PHASE II |
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10-EXPIRATION FINANCIAL
CRISIS PROGRAM |
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11-PENSION CRISIS |
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12-CHRONIC
UNEMPLOYMENT |
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13-GOVERNMENT BACKSTOP
INSUR. |
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14-CORPORATE
BANKRUPTCY |
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15-CREDIT CONTRACTION II |
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16-US FISCAL IMBALANCES |
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17-CHINA BUBBLE |
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18-INTEREST PAYMENTS |
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19-US PUBLIC POLICY MISCUES |
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20-JAPAN DEBT DEFLATION SPIRAL |
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21-US RESERVE CURRENCY. |
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22-SHRINKING REVENUE GROWTH RATE |
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23-FINANCE & INSURANCE WRITE-DOWNS |
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24-RETAIL SALES |
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25-US DOLLAR WEAKNESS |
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26-GLOBAL OUTPUT GAP |
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27-CONFIDENCE - SOCIAL UNREST |
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28-ENTITLEMENT CRISIS |
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29-IRAN NUCLEAR THREAT |
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30-OIL PRICE PRESSURES |
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31-FOOD PRICE PRESSURES |
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32-US STOCK MARKET VALUATIONS |
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33-PANDEMIC |
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34-S$ RESERVE CURRENCY |
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35-TERRORIST EVENT |
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36-NATURAL DISASTER |
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