German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble are urging Spain’s government to take an international bailout as it struggles to shore up the country’s banks, Der Spiegel magazine reported, without saying where it got the information.
Read the article here.
Comments »Urged? Perhaps “begged” would be more apt. Either Germany goes all in for the single currency model or the model is blown to bits. I believe Germany will cave, but not until the get terms that are agreeable to them.
Read the article here.
Comments »…the Wall Street Journal is reporting that traders are turning to old-fashioned microwave relay towers to speed deals between New York and Chicago. The newspaper reports that 10 companies have filed applications with the Federal Communications Commission to build such links.
Isn’t the speed of light fast enough? Read why microwaves transmit faster than fibre.
Read the article here.
Comments »
Jeffrey Carter writes, “This post isn’t designed for the active day trader. It’s designed for the average investor. The American that works a job, saves their money for retirement in a 401(k).”
Read the article here.
Comments »“The Securities and Exchange Commission approved two proposals to alter trading curbs meant to curtail volatility in the U.S. stock market.” I think iBC readers will agree that the “price bands” are going to be heavily exploited.
Read the article here.
Comments »
When i was a young pleb i would watch episodes of M*A*S*H* waiting for my mom to get home from work. Any way, the cast became a pseudo group of surrogate parents and i would take lots of lessons to heart. The show was well written and witty.
I remember a saying from the show: “in order to understand what it means to be sane, one must be a little insane. You have to cross the line of sanity to know where it is.”
That is how i view this weeks documentary. There is good historical information to learn for those who are not up to speed with the gentlemanly knowledge that flies around these here interwebs. But some of you will say a tin foil hat will be needed to listen to these outrageous claims. I think that description is a way for people to deal with the world.
Put something in a box, label it, and you’ll always know how to deal with it. Bad philosophy imo. Once you do that, you leave it alone and never really examine it. Therefore if it changes you do not recognize it.
So call me what ever you like, but i enjoy exploring the outrageous and then going on a fact finding mission to discover how outrageous those claims are or not.
Cheers on your weekend !
[youtube://http://www.youtube.com/watch?v=HqrdHLzvIV4 450 300]Megan ‘Verb’ Kargher are proud to present Vox Populi, Methods of Manipulation. It has become increasingly evident that large portions of the planet are descending with alarming speed into Orwellian police states. What is the New World Order and what are their plans for mankind? How can we stop the corruption now? Join me as I travel in search of what is really going on in the world in which we live. Featuring interviews with David Icke, Max Igan, Freeman, Jordan Maxwell, Dr. George Rhodes, Ben Stewart and Charlie Veitch.
[youtube://http://www.youtube.com/watch?v=Zz5jIxzneMA 450 300] Comments »Global PMIs confirmed the global economy is hovering just above recession territory. Our economy being the strongest and most hopeful took it on the chin with horrible employment data today. As a result we sold off just below the 200 day ma and await some sort of hopium call from central banks this weekend.
Gold spiked on the bad news and treasuries saw new rock bottom low yields.
DOW DOWN 280
S&P DOWN 32
NASDAQ DOWN 79
OIL DOWN $3.25
GOLD UP $59
[youtube:http://www.youtube.com/watch?v=AmzaITUHYMg 450 300]
Here’s a look at today’s hybrid movers, click here for charts
Comments »“The U.S. economy added a net 69,000 net nonfarm payrolls in May, way below expectations for around 150,000 jobs, which boosts the chance of a U.S. double-dip recession o 40 percent, says Barton Biggs, founder of the Traxis Partners LP hedge fund.
Jobs reports in March and April disappointed as well and were further revised downwards in the May data, sparking fears that the economy is experiencing something worse than hitting a soft patch.
“We were looking for a soft patch to last throughout the summer, but certainly the risks have now increased that this is not just a soft patch and that we may actually roll over into a mild double-dip recession,” Biggs tells CNBC.”
Comments »May’s dismal jobs report shows that politicians in the U.S. and elsewhere are losing control and need to do more to guide the global economy back to more sustained health.
“Central banks have stimulated their respective economies to generate growth, but such moves send economies moving at stall speed, where like an airplane, they move too slowly to generate enough lift to keep aloft and end up stalling and tanking.
Such policies sure aren’t creating jobs, especially in the United States.”
Comments »“Societe Generale published a comprehensive report this morning on the contagion effects of a Greek exit from the euro currency to the rest of the eurozone.
One of the most sobering sets of figures: massive funding gaps in the Italian and Spanish banking systems that “would likely open up” unless the ECB were able to manage the exit process adequately.
Here are the details provided by the Soc Gen strategists: ”
Comments »
Markets have just touched down on new lows for the day. Gold is looking good. The dollar is strong and the Euro has managed to hold its recent gains into the green zone.
The Fly had it correct this morning when he said the market will crash on Monday if no solution is had by Sunday to solve the European debt crisis. For now we remain at the 200 day ma and await a hit of hopium from central banks.
[youtube://http://www.youtube.com/watch?v=AzqiPvGrkTo 450 300] Comments »
