Ideologues Play Chicken With Markets

Hey, you gotta hand it to them.  I’m not sure if you can chalk it up to principle or just plain stupidity but for whatever reason, the House Republicans stuck to their guns and dared the markets to do their worse.  Hope everyone enjoyed the warm-up act.  They will learn soon enough why Bill Clinton [...]

No Comments

Bailout (& Inflation) On

There’s a lot of hand-wringing on the cable news about whether House Republicans will back the “new” bailout agreement (which looks an awful lot like the one reached on Thursday) but for those willing to put aside their partisan/ideological bias, it seems safe to say this is a done deal. House Republicans are supposedly meeting this afternoon to run [...]

1 Comment

Weekly Biking Playlist: Bailout Edition

Who needs reality TV? I’m sure readers have read tomes on the bailout and probably have pretty strong negative positions on it already.  It’s sickening all the way around — everyone agrees on that.  I’m less sure that readers truly know what the stakes are.  After all, constant cries of “economic crisis” doesn’t really say much about what specifically is going on.  My take is as follows: Michael “Mish” Shedlock has been ringing the alarm [...]

No Comments

Jim Rogers & Marc Faber Sound Off On Financial Markets

Unsurprisingly, neither of them predict that this will turn out well for the US in the long-term. Frankly, if you’ve been following these gentlemen for any length of time, you won’t find many new insights here.  Faber maintains his recent shift towards being bullish on US$ in the short-term while Rogers has covered most of [...]

No Comments

Wall Street Bailout Eliciting Boos All Around

Conservatives, such as Bill Kristol, don’t like it. Liberals, like Paul Krugman, don’t like it. And I don’t need a poll to tell you that most Americans  think this is the stinkiest piece of shit ever. Today, we find the markets don’t like it either.  Gold continues its meteoric rise while oil, on a delayed [...]

No Comments

American Capital Ate Wheaties For Breakfast + Minefinders non-update

What else could explain the 11% pop in ACAS, bigger than most other financials today? Well, besides Wheaties, perhaps the pending “new” rules on naked short-selling might also have something to do with it.  It’s interesting to see another position, Minefinders (MFN), up 16% today as that stock allegedly has a big naked short position [...]

No Comments