The Republican establishment breathed a sigh of relief when Boston businessman Gabriel Gomez won Tuesday’s GOP primary in the Massachusetts special Senate race, believing he represents the party’s best chance at an unlikely pick-up in liberal Massachusetts.
Gomez, a Hispanic, former Navy SEAL investment firm executive, has the type of outsider credibility and centrist leanings the GOP hopes will play well against 18-term Rep. Ed Markey, the Democratic nominee.
Republicans have begun to privately [...]
From John Hussman’s Weekly Market Commentary:
“Even the intelligent investor is likely to need considerable will power to keep from following the crowd.” – Benjamin Graham
“Human beings desperately want to belong, but, they also desperately want to understand the environment around them. Often, the desire to belong and the desire to know the truth conflict. The idea of the majority view or the ‘mainstream,’ gives people the sense that they are a [...]
January 2, 2012
Common ground is hard to come by in Washington these days, but everyone, it seems, hates tax “loopholes.” Democrats claim they rob the government of revenue and benefit the rich. Republicans say tax loopholes distort free markets by letting the government pick winners and losers, thereby potentially introducing artificial and undesirable incentives.
Indeed, during the 2012 presidential race, Republican vice presidential nominee Paul Ryan attacked tax loopholes for [...]
December 18th, 2012
Online retailer Cheaper Than Dirt!, one of the world’s largest sporting goods stores and a top online gun distributor, has suspended sales of firearms as of Tuesday.
According to an alert posted on its Facebook and Twitter accounts, the “temporary” suspension is effective immediately as the company reviews its policies and promotions related to online gun sales.
Cheaper Than Dirt! has temporarily suspended online sales of firearms. As a long time supporter of the [...]
The former president of the world bank, James Wolfensohn, makes stunning confessions as he address graduate students at Stanford university. He reveals the inside hand of world domination from past, to the present and into the future. The speech was made January 11th, 2010. The next 19 minutes may open your mind to a very deliberate world!
He tells the grad students what’s coming, “a tectonic shift” in wealth from the [...]
While the relentless drought affecting much of the United States has increased agricultural commodity prices, a larger force is at work… and this is only the beginning of the price increases, according to Jeremy Grantham, co-founder of the global investment management firm GMO.
We are “about five years into a chronic global food crisis that is unlikely to fade for many decades, at least until the global population has considerably [...]
This summer’s much-anticiapted Hollywood blockbuster, “The Dark Knight Rises,” is getting an unusual boost from Democrats and other foes of Mitt Romney who are eager to tie the Gotham crushing villain to the GOP presidential candidate. Their angle: the mask-wearing, “Venom” gas breathing bad guy has a name that sounds just like Romney’s former investment firm that President Obama has been blasting as a jobs killer.
“Bane” is the terrorist in the [...]
China’s home values fell in a record 54 of 70 cities tracked by the government in May as developers cut prices to boost sales amid housing curbs.
The eastern city of Wenzhou led declines with a 14 percent slump in values from a year earlier, while Beijing and Shanghai recorded losses of as much as 1.6 percent, according to data released by the statistics bureau today.
China has pledged to maintain its [...]
Disappointingly, there does not appear to be a joint statement (this could change…), but Japan’s finance minister Jun Azumi has been discussing the call.
• No joint statement as talks end
• Canadian finance minister: Europe’s the main concern
• Europe’s service sector is shrinking…
• …and retail sales fall too
• Today’s agenda
2.32pm: Wall Street has opened for trading, with no real reaction to the news that the G7 teleconference call ended without [...]
Thursday, April 19, 2012
Art is the latest victim of the EU’s debt crisis. A director of an Italian museum is burning works from around the world in protest at the government’s harsh austerity measures. With the permission of the artists, he’s promised to destroy three pieces a week until the government listens to what he has to say. Patrick Young, Executive Director of investment firm DV Advisors says although Italy’s [...]
More capital is needed for commercial property borrowers as $1 trillion in debt matures over the next three years, according to Michael Boxer of investment firm Ramius LLC.
Refinancing won’t be possible for 77 percent of loans arranged during the height of the property boom, said Boxer, a Ramius partner, in an interview with Bloomberg Television’s Scarlet Fu on “Money Moves.” That will leave a “very big gap,” that needs to [...]
March 2, 2012, at 12:20 pm
by Jim Sinclair in the category General Editorial
My Dear Extended Family,
The history of this period will focus attention on two economic clutch type events. These events will have mandated the need for the construction of a new monetary system utilizing a virtual reserve currency traded only by central banks. This reserve currency will be related to gold via a global Western world M3.
An economic clutch type event is [...]
From Bill Buckler of The Privateer
The Great Falsification
On February 4, the Wall Street Journal ran an article with the title: Investors Place Their Money On Fed.
The gist of the article is that the markets in the US – and everywhere else to a greater or lesser degree – are still willing to bet on two things. One is that the Fed will come out with a new round of stimulus spending [...]
BUENOS AIRES — Few were surprised when Venezuela announced a deal with China last week to restore 1.4 million acres of unproductive farmland across the oil-rich but impoverished South American nation.
China increasingly is buying farmland and agricultural companies in South America to feed its ever-growing population, currently estimated to be 1.34 billion.
The most important aspect of China’s agricultural investment in Latin America is that “it is a part of the increasing [...]
LOL, you can’t even make this stuff up. Yet another example of reality being more bizarre than fiction.
“ Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.
But Freddie Mac has invested billions of dollars betting that U.S. homeowners won’t be able to refinance their mortgages at today’s lower rates, according to an investigation by [...]
(Reuters) – A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court.
Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history.
Olympus has [...]
Delta Air Lines is eyeing a bid for bankrupt rival American Airlines, a source close to the matter said on Thursday, despite doubts that the proposed mega-carrier would win regulatory approval.
Atlanta-based Delta, the world’s second largest airline after recently merged United-Continental, has enlisted investment firm Blackstone to craft a potential bid, the source said.
American Airlines declared bankruptcy in November, as it struggled to slash its debt burden and costs.
Bankruptcy, a common tactic in [...]
By Jim McElhatton - The Washington Times
During two days of recent congressional hearings into how as much as $1.2 billion disappeared fromMF Global customer accounts, the chief operating officer of the imploding investment firm responded again and again that he did not know.
Yet as the House and Senate interrogated Bradley I. Abelow and other top executives at MF Global Holdings Ltd., lawmakers did not mention Mr. Abelow’s role as a financial adviser for theEnvironmental Protection Agency, which as of Tuesday listed him [...]
From Eric Sprott
Silver Producers: A Call to Action
As we approach the end of 2011, the silver
spot price has admittedly endured a tougher road than we would have
expected. And let’s be honest – what investment firm on earth has
pounded the table on silver harder than we have? After the orchestrated
silver sell-off in May 2011 (please see June 2011 MAAG article entitled,
“Caveat Venditor”), silver promptly rose back to US$40/oz where it
consolidated nicely, [...]
The EU has called for the President of the European Central Bank, among other officials, to stand before a special financial committee, as the debt plague sweeping the bloc threatens its very unity. Talks, which are underway, focus on halting the spread of contagion, as fresh data sows panic with revelations even such economic giants as Germany are not immune. Another priority is addressing [...]
(CNN) — An auto-focus camera? Not new. Not exciting.
A camera that lets you focus after you’ve already taken the photo? And lets you focus anywhere within the image you want? That’s got people talking and, according to its creator, is the start of “a picture revolution.”
Oh yeah — it can also transfer a regular photo to 3-D.
Lytro, a company launched Tuesday by 31-year-old entrepreneur Ren Ng, [...]
Leah Nash for The New York Times
An open house in March in Portland, Ore. “There are some amazingly favorable signs. Housing is the most undervalued it’s been in 35 years,” one analyst said.
How low can the market go?For real estate, some economists say, an end to the seemingly endless decline in housing values might be in sight.
Not immediately. At the moment, prices are still dropping. In 20 large [...]
Facebook Inc.’s business is growing faster than it forecast several months ago, raising the stakes for an initial public offering as early as spring of next year, said people who have seen Facebook’s recent financial information.
One of these people said the company is on track to exceed $2 billion in earnings before interest, taxes, depreciation and amortization, or Ebitda, in 2011. That is above [...]
By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) â€” The valuation of Facebook is taking another leap, according to a report Thursday by CNBC.
General Atlantic, a $17 billion investment firm, agreed to buy one-tenth of 1% of Facebook in a deal that values the social-networking website at $65 billion, CNBCâ€™s David Faber said, citing unidentified people with knowledge of the transaction.
General Atlantic is buying about 2.5 million shares [...]
One of my 10 surefire predictions for 2011 was that this year would be the biggest for Internet initial public offerings since the first dot-com boom. Itâ€™s only mid-February, but barring a sudden market selloff, you can take that one to the bank. Read Goldâ€™s 10 surefire predictions for 2011 on MoneyShow.com.
Amid some media hand-wringing about a new dot-com bubble, IPO activity is picking up [...]