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by Phoenix Capital Research
Just what is the Fed so scared of? Today, the Fed’s favorite reporter, Jon Hilsenrath at the Wall Street Journal published an article completely refuting his own work from just two weeks ago. If you’ll recall, two weeks ago, Hilsenrath wrote that the Fed was planning to taper its QE purchases before the end of the year. Today, Hilsenrath wrote that when the Fed does taper its buying it won’t be “predictable.” [...] Washington may be a tax reform wasteland, but out in the states the action is hot and heavy. Nine states—including such fast-growing places as Florida, Tennessee and Texas—currently have no income tax, and the race is on to see which will be the tenth, and perhaps the 11th and 12th. Oklahoma and Kansas have lowered their income-tax rates in the last two years with an aim toward eliminating the tax altogether. [...] Howard Marks: “There Are Times For Aggressiveness; Now Is A Time For Caution” Oaktree Capital’s Howard Marks begins his latest missive with a few hard truths. Anyone who has read his memos of the last 23 years will see he returns often to a few topics. This is due to the frequency with which themes tend to recur in the investment world. Humans, he notes, often fail to learn. They forget the [...]  Layoffs spread far and wide Earlier today, Twitchy related some heartbreaking stories of small business owners laying off workers to avoid the economic impact of the Obamacare tax that isn’t a tax. Comedian Jon Lovitz, a small business owner himself, was no barrel of laughs either as his timeline filled with stories of impending downsizing. So, what about those big corporations? Boeing’s defense division announced yesterday it would cut 30 percent of management staff, and the [...] J. D. Heyes There is another copyright battle emerging over intellectual property, and this time you, John or Jane Q. Citizen, could be smack-dab in the middle of it, for one of the most innocuous acts you could imagine – selling your used iPad. At present the U.S. Supreme Court is preparing to rule on a case that will affect whether you can sell that iPad of yours, or any of [...] By Global Macro Monitor Mar 6, 2012, 7:26 AM Author’s Website
The WSJ does a good explaining what is driving the Yen and seems to agree with us that there is a huge difference between quantitative easing to stimulate the economy versus monetizing bad government debt for which there is no demand. The Germans seem to be the only people on earth who fully understand this and recognize that money demand could collapse if markets realize and begin to internalize the difference. This [...] They used to make you open up your bag and check it (they still can, but thanks to the yeoman’s work of the MASS ACLU, now they need to prove probable cause in court to do so – like if you are a brown person). Now, when they pull random people aside to have their bag “inspected”, its done by some machine that checks for radiation. TSA is often there with the Transit Cops hacks and [...] kingworldnews.com With gold surging roughly $40, now trading above $1,825 and silver over $41, today King World News interviewed acclaimed money manager Stephen Leeb to get his thoughts on where things are headed. When asked about the reason for the big move in gold Leeb replied, “I think that there is no doubt that the strong move in gold is the anticipation of more Fed action. More Fed [...] Ditto what Sax just posted! -See Zerohedge’s story “EURCHF Crashing After Hours On Italian Bank Run Concerns” @ http://www.zerohedge.com/news/eurchf-crashing-after-hours-italian-bank-run-concerns. Per ZH: Less than an hour ago, Larry Kudlow tweeted the following: “Sources tell me Italy has to restructure bonds.Deposit run on Italian banks.EU will have to mount Tarp rescue.Big stress on interbank loans.” Basically, this is the worst possible combination for Europe which means that another bailout is [...] by Nomi Prins Too Big To Fail Or Too Stupid To Stop – Screw Banks/Not People This morning, amidst news of Moodys cutting Greece’s debt rating to Caa1, I came across a phrase I wish I’d thought of first, reading through a friend’s morning commentary. The phrase? “Too Stupid to Stop”. According to Bill Blain, Senior Director at Newedge in London, and self-professed Euro skeptic, “‘Too Stupid to Stop’ [...] by Charles Hugh Smith from Of Two Minds The Housing Bubble Broke the Middle Class The bursting of the housing bubble wiped out half of the net worth of the Mortgaged Middle Class. On the face of it, American households were not that affected by the bursting of the housing bubble. If we look at the Fed Flow of Funds report, the Balance Sheet of Households and Nonprofit Organizations, we find [...] Logs are missing the names of thousands of visitors to the White House. | AP Photo via politico: A foot of snow couldn’t keep Bob Dylan, Joan Baez, Jennifer Hudson and other celebrities away from a star-studded celebration of civil-rights-era music, hosted by President Barack Obama and first lady Michelle Obama at the White House in February 2010. Dylan’s haunting rendition of “The Times They Are a-Changin’” was a [...] by Phoenix Capital Research Indeed, while emerging markets are generally going up in flames (literally) Gold hasn’t done much of anything since October 2010. Heck, we haven’t even retested the previous highs despite all the turmoil. It’s odd, Gold should be above $1,500 per ounce by now given what’s going on in the world. By all counts demand for the precious metal is increasing dramatically. Central banks became net buyers of the [...] by PozzKarma Everyone has their own way of navigating financial markets to include technicals, fundamentals, witchcraft, astrology, dart throwing and so on. I use moving averages because it’s logical and it works for me. Moving averages screen out the noise and give you the price action straight up. If a market is going to roll over, then it will do so sequentially in time frames. I break it down into hourly, daily [...] |
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