Shorts getting obliterated….
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Monthly Archives: November 2011
FLASH: The Fed and World Central Banks Coordinate to Lower Pricing on U.S. Dollar Swap Arrangements; Futures Soar
2500 Small Banks Pink Slip 20k Jobs
The U.S. is Close to Being a Net Exporter of Petroleum Products for the First Time in 62 Years
Challenger Jobs Report: Layoffs Slow Slightly For a Second Month
Mortgage Applications Fall for a Third Week
Gold Mining Companies Have Evaluations Not Seen in Years
Euro Finance Ministers Feverishly Working Out Contingency Plans With the IMF
French Banks Continue to Lose Market Share
As the crisis ensues the ability to loan has become tougher; thus cutting back on market share.
Comments »German Yields Fall on Speculation That the ECB Will Cut Rates by December 8th
The European Bank to Bank Lending Rate, Euribor, Hits its Highest Levels Since 2009
Europe Pares Early Losses on China Reducing Bank Reserve Ratio
Asian Markets Remain Mixed While Europe and S&P Futures Trade Higher by 0.50% – 1%
Entertain This: The Future of Europe
A Nightmare on Main Street (video)
North Dakota Puts No Property Taxes on the 2012 Ballot
A Video Metaphor of the ECB and the Euro
Something is definitely wrong, but we will keep on pushing along…
[youtube://http://www.youtube.com/watch?v=tICWkAPL1eM 450 300]The fate of the Euro…
[youtube://http://www.youtube.com/watch?v=FF76E8taGdg 450 300]Comments »
Economics Professor Karl Smith Says Europe is in a Dysfunctional Mode; Settlements and Repo Market Malfunctioning
[youtube://http://www.youtube.com/watch?v=ieuBkWHfCuc 450 300]
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Hedge Fund Adviser Leon Cooperman Tells Obama What He Thinks of Him and His Policies
The letter arrived just as Obama hit the all time worst president poll ratings…
“Omega Advisors Founder Leon Cooperman sent a scathing letter to President Obama yesterday, [via @andrewrsorkin] and its contents are just short of being outright brutal.
In the three page letter, Cooperman outlines his grievances with Obama’s administration, calling his policy decisions “profligate and largely ineffectual” and calling Obama out for using a political rhetoric that promotes the ideas of class warfare.
Cooperman came from very humble roots (his dad was a plumber in the South Bronx) but is now worth around $1.8 billion after rising through the ranks at Goldman Sachs in the 1980s and 1990s and starting Omega Advisors, a hedge fund sponsor.
The letter has clear and eloquent prose, but that only adds a sharper edge to the biting statements made by Cooperman. We picked out the best parts…
Cooperman’s biggest gripe with Obama is his policitizing of class division, which he feels exacerbates the problems facing Amercia.
I can justifiably hold you accountable for is your and your minions’ role in setting the tenor of the rancorous debate now roiling us that smacks of what so many have characterized as “class warfare”. Whether this reflects your principled belief that the eternal divide between the haves and have-nots is at the root of all the evils that afflict our society or just a cynical, populist appeal to his base by a president struggling in the polls is of little importance. What does matter is that the divisive, polarizing tone of your rhetoric is cleaving a widening gulf, at this point as much visceral as philosophical, between the downtrodden and those best positioned to help them.”
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