... those indicators are painting a picture of the Apocalypse that I simply can't believe, and they're showing it as an imminent event - like perhaps today imminent...
... says Denninger, but I still don't believe it. But maybe that's just me.
Thursday, March 05, 2009
Wake Up!
Jim Mellon and Al Chalabi, authors of "Wake up!" , have emailed their latest interesting and useful newsletter. It concludes:
Our strongest recommendations are as follows:
• Prepare for rising inflation – continue to buy gold;
• Sell government bonds;
• Look for cheaply valued strong stocks – BAE and BP in the UK are two examples, and in the US we like Pfizer.
• Deploy cash wisely – our current favourites are, believe it or not, the British pound; the yen is weakening, but at 100 yen to the dollar it is a buy again.
• Avoid the US dollar and the Euro.
Like that bit about the pound - I was scratching around looking for something to save what's left of the savings.
Our strongest recommendations are as follows:
• Prepare for rising inflation – continue to buy gold;
• Sell government bonds;
• Look for cheaply valued strong stocks – BAE and BP in the UK are two examples, and in the US we like Pfizer.
• Deploy cash wisely – our current favourites are, believe it or not, the British pound; the yen is weakening, but at 100 yen to the dollar it is a buy again.
• Avoid the US dollar and the Euro.
Like that bit about the pound - I was scratching around looking for something to save what's left of the savings.
Dow 4,500 within 12 months - Cederholm
Fred Cederholm gives a Dow target close to the one I'm thinking, though I think we may have a reality-denying rally before then, so I don't necessarily agree with his timescale.
Wednesday, March 04, 2009
FDIC could fail - update
I've passed on the bad news about underfunding of the FDIC before - latterly here - and now it come to the fore again in a post from Karl Denninger.
UPDATE (7 March 2009): Jesse has a piece on it now, too. But "deposits would remain fully backed by the government,", says his source - not much comfort for the taxpayer, then.
UPDATE (7 March 2009): Jesse has a piece on it now, too. But "deposits would remain fully backed by the government,", says his source - not much comfort for the taxpayer, then.
Webcam: gold vault at the Federal Reserve
Live picture (updated every 30 sec)According to GATA, they ain't got it no more, nor they don't want it back, neither. (htp: Jesse)
What happens when everyone knows?
Tuesday, March 03, 2009
Do buy, Dubai
P.S. Did you think I was joking about Dubai as a world leading financial centre? Where the footballers lead...
It was said years ago that 90% of £20 notes in London bore traces of cocaine - because footballers have 90% of the notes. Sadly for some footballers and Old Etonians, possession of cocaine in the UAE is punishable by death. Nevertheless, lovely weather and no crowded, litter-strewn South East England commuter trains.
Could you stand Paradise? Or are you hooked on that museum of past industrial glories, the UK?
It was said years ago that 90% of £20 notes in London bore traces of cocaine - because footballers have 90% of the notes. Sadly for some footballers and Old Etonians, possession of cocaine in the UAE is punishable by death. Nevertheless, lovely weather and no crowded, litter-strewn South East England commuter trains.
Could you stand Paradise? Or are you hooked on that museum of past industrial glories, the UK?
If GE falls...
Karl Denninger notes that there is heavy betting that GE, the world's tenth largest company, will fail by summer.
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