"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •172 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •15 mins | 952.00 | +15.60 | +1.67% |
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WTI Crude •10 mins | 68.70 | -0.76 | -1.09% |
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Gasoline •10 mins | 1.921 | -0.020 | -1.05% |
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Ethanol •173 days | 2.161 | +0.000 | +0.00% |
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Silver •172 days | 30.82 | +1.16 | +3.92% |
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Silver • 172 days | 30.82 | +1.16 | +3.92% | |
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Copper • 172 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 10 mins | 72.06 | -0.88 | -1.21% | |
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Natural Gas • 10 mins | 3.667 | -0.081 | -2.16% | |
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Heating Oil • 10 mins | 2.215 | -0.017 | -0.75% |
Markets
Hero Turns Spoiler - or, McTeer "Getting Nothing"
Today, the critical flaw in Mr. McTeer's and others' analysis is that they refuse to recognize the historic nature of the U.S. Credit Bubble. They were oblivious to the forces…
Allyn Abbott Young
Dr. Mehrling's "strategy" was to look at the years 1920 to 1970 - a period of "enormous intellectual disequilibrium on the subject of money" - "through the eyes of three…
Franklin D. Raines, Director of Central Planning
The company and Wall Street would like the marketplace to believe that they have discovered the Holy Grail for aggressive consumer lending. We think they were rather fortuitously in the…
Its Wildness Lies in Wait
Subprime credit card lender Providian (5th largest U.S. credit card issuer) dropped a bombshell today, stating that increased credit losses and the need to write down uncollectible accrued income would…
An Exceedingly Troubling Circumstance
The Argentine "death spiral" continues, with the government reporting a 14% decline in September tax revenues. Having committed a balanced budget to the IMF, previous planned spending cuts are to…
Moody's on the Financial Guarantors
We continue to closely monitor simply unprecedented developments throughout the U.S. credit system. On the one hand, some types of bank credit are apparently easily available, and we have the…
A Terrible Tragedy
The Goldman Sachs Commodity index of 26 commodities sank almost 10% this week, its largest weekly decline since 1991. Despite sinking equity and commodity prices, the credit market struggled. Although…
The 'Information Economy'?
The market was not overjoyed with today's Wall Street Journal headline, "Treasury Official 'Skeptical' of Fannie Mae's Financial Role." While Treasury undersecretary Peter Fisher was obtuse, he did state that…
Henry Calvert Simons
This week Bloomberg reported "Office Rents Had Biggest Drop in 9 years in 2nd Quarter. - Rents in the nation’s downtowns fell an average of 3.2 percent from the first…
'Off With Their Heads'
From the transcripts of CNN's Evans, Novak, Hunt & Shields (from Bloomberg) quoting Treasury Secretary O'Neill (to air tomorrow): "Argentina is now in a very slippery position. And we're working…
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