Some advice from the wealthiest people.
Comments »Brooksley Born On JPMorgan Chase Loss: Nothing’s Changed Since LTCM
Is it possible that regulators, masters of the universe, and the public will ignore, black list, and stifle Brooksley Born again ?
If so prepare for the mother of all credit freezes !
Comments »JIM ROGERS: Here’s What Would Cause Gold To Dive 40% To 50%
“Commodities guru Jim Rogers said he is not buying gold. In fact, he said he has “hedged himself” since we spoke to him last month.
Rogers said he expects gold prices to fall further and believes they could tumble 40 – 50 percent off their top if India were to stop its gold imports or if Europeans were to sell their gold”
Comments »‘Discussing the Merits or Demerits of Central Banking’
“Imagine you are one of two people playing Monopoly. While you follow the rules religiously, the other player, who also happens to be the banker, does not.”
Comments »Citi Analyst Fitzpatrick: Stocks Poised to Plunge 20% This Summer
20% may be be the beginning. Remember, while valuations and corporate profits are good, we could see another credit freeze at any time and 20% would be just a first leg folks.
Comments »In Play and On the Wires
BILL GROSS: Euroland Is Just A Tumor, And The Cancer is Going Global
PIMCO’s Bill Gross says the debt-fueled global economy faces a big shift, in a new FT column. The always poetic Gross makes this argument with two metaphors.
Comments »Alex Jones: “The Government is Now Controlled by Criminals”
MAJOR Top Completed Today in Russell 2000 & NYSE Composite
Peter Brandt lets the charts speak for themselves, but notes that the completion of these patterns “signifies a major trend change.”
See the charts and read Brandt’s commentary here.
Comments »Whoopi Goldberg and Obama Chat About $JPM (Video)
Adrian Day: Resource Stocks are “Amazingly Cheap” (VIDEO)
[youtube:http://www.youtube.com/watch?v=IrV-099X_t0&feature=g-all-u 603 500]
Comments »David Tepper of Appaloosa Management Has Picked Up $AAPL and $BAC
“Hedge fund titan David Tepper’s latest 13F filing is out and Appaloosa Management massively increased its stake in Apple and bought huge position in Bank of America. ”
Comments »Robert Reich on Mitt Romney & How He Became Wealthy
The magic of private equity….
[youtube://http://www.youtube.com/watch?v=rodifJlis2c 450 300] Comments »Bankers Are Monkees (sic)
This was a great analogy given by James Montier via Z.H.
[youtube://http://www.youtube.com/watch?v=UgyZCgw6kdw 450 300] Comments »Yale’s Stephen Roach: Fed Deserves Some Blame in JPMorgan Fiasco
“The Federal Reserve deserves some blame for the JPMorgan trading snafu currently embroiling the financial sector, says former non-executive chairman of Morgan Stanley Asia and Yale professor Stephen S. Roach.
JPMorgan revealed a $2 billion trading loss on a massive hedge operation, fueling fears other banks may be at risk.
The Federal Reserve deserves some blame, Roach says, thanks to its loose monetary policies.
Comments »Former Treasury Chief Rubin: US at Risk of New Crisis, ‘Mega Duress’
“U.S. debts and deficits could likely throw the country into an economic and financial crisis, says Robert Rubin, former Treasury Secretary under President Bill Clinton.
The U.S. consistently runs massive deficits yet efforts to narrow them have often ended in political gridlock.
Most recently, President Barack Obama appointed a bipartisan National Commission on Fiscal Responsibility and Reform to find ways to streamline the country’s bloated public sector.”
Comments »GARY SHILLING: Home Prices Will Plummet 20% From Here
Gary Shilling says home prices are still expensive compared to renting. If you buy, beware as he predicts a 20% decline in prices.
Comments »$JPM May Invoke the Return of Glass Steagal
“We at The Small Business Authority believe in free markets. We also believe in less government regulation to more government regulation and we believe that financial institutions should be able to transact on an arm’s length basis and do so in many different markets. The primary caveat to this is when the financial institution uses a government guarantee or a government subsidy, it must therefore be very limited to the amount of risk and financial leverage that it can utilize to earn money.”
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