"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •510 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •14 mins | 1,576.60 | +10.60 | +0.68% |
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WTI Crude •11 mins | 57.89 | -0.06 | -0.10% |
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Gasoline •20 mins | 1.862 | +0.005 | +0.26% |
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Ethanol •510 days | 2.161 | +0.000 | +0.00% |
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Silver •510 days | 30.82 | +1.16 | +3.92% |
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Silver • 510 days | 30.82 | +1.16 | +3.92% | |
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Copper • 510 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 11 mins | 62.35 | -0.13 | -0.21% | |
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Natural Gas • 11 mins | 4.519 | +0.038 | +0.85% | |
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Heating Oil • 16 mins | 2.350 | -0.004 | -0.15% |
Markets
Baltic Dry Shipping Collapses
The US is in a recession, consumers are cutting back discretionary spending, there is rampant overcapacity in every sector but energy, and there is no reason to go on a…
No Credit, No Leverage
What we thought was a wall of liquidity, turned out to be a wall of leverage." - Paul Davies in the FT, quoting "a number of senior bankers...
More on Name Brands
Taking investment advice from Rogers or Buffet, or the media darlings without empirically quantifying their risk adjusted success is the same as paying $215 for name brand sneakers - you…
The Misesian Explanation of the Bank Crisis
... the fundamental cause of the bank crisis is not evil Republicans, lying Democrats, "deregulation," "affirmative-action lending," or even "ludicrous levels of leverage." A banking system is like a nuclear…
Pivotal Events
Credit Spreads have been a disaster. A year ago, for example, junk was yielding 11%, at 6 percentage points over treasuries. Now the numbers are 22% at a huge 17.5…
Currencies Battle for Dirtbag Supremacy
Equally weird is that gold is also paradoxically going down in price, even though the dollar is going down in buying power because inflation is higher than the yields the…
The Weekly Report
How effective the IMF would be in the face of global financial systemic failure is questionable, they currently do not have the reserves to make much difference to a medium…
On the Horizon: The Day Ahead: October 15, 2008
Day Ahead: Major event risk for the day will be the resetting of LIBOR fixings and the LIBOR-OIS spread. We expect price action in markets to be shaped by where…
Capitalism Without Capital?
Not only is our nation on the verge of bankruptcy, but so are its people and private institutions. We are now repeatedly hearing about businesses "needing to access the credit…
Stock Markets - A Reversal of Fortune?
Interestingly, after the 1929 crash (October 28 and 29) the Dow's movements over the following five days were: +12.3%, +5.8%, -5.8%, -9.9% and +2.6%). Subsequent to 1987's Black Monday (October…
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