Archive for the 'Economy' Category
Silly Me
April 16th, 2007I thought the collapse of the U.S. Dollar was going to finally make it into the numbnut consciousness today. Silly me. Who knew that the worst mass shooting in U.S. history would happen on a day like this; when even the zombie media might have chosen to focus on the dire macroeconomic situation that is […]
U.S. DOLLAR BREAKDOWN CONTINUES
April 16th, 2007Guys, we’ve got a heavy equipment operator on our farm helping us with our major projects, so I’m outside today. Please review: U.S. Dollar Index Breaches Significant Weekly Supports and Gold: Switch Off Your Targeting Computer Those stories will put the breaking news into some context.
How Did a Strawberry Picker Earning $15,000 a Year Qualify for a Loan of $720,000?
April 14th, 2007There is no way to know how weird this is going to get. Via: sfgate: “We wanted to live in Watsonville,” says Rosa. “But [the real estate agent] said the houses there were older and more expensive.” One of the first homes they were shown was a “new” four-bedroom, two-bath house in Hollister for $720,000. […]
U.S. Dollar Index Breaches Significant Weekly Supports
April 14th, 2007Yesterday, in Gold: Switch Off Your Targeting Computer, I wrote: The U.S. dollar has been clobbered and may be technically oversold. While the U.S. dollar is in a descending triangle pattern now (bearish), it has also formed a creepy double bottom on weekly charts (bullish). So, what is it: a double bottom, or a descending […]
Gold Breaks Above 680
April 13th, 2007WARNING: This is not a recommendation to buy sell or hold any financial instrument. Key resistance.
HOME PRICES MAY FALL 20% AMID BAD LOANS
April 13th, 2007A quick passage from my Wall Street Chop Shop story is in order here: The firm externalized the financial risks of being in this business by selling all of the paper they generated into the secondary mortgage market at the end of every month. This is an institutional marketplace that trades in commoditized mortgages, “debt […]
China’s Foreign Reserves Rise Past $1.2 Trillion
April 13th, 2007Any guesses on what that U.S. trade deficit number is going to show in a few hours… Via: Forbes / AP: China’s foreign reserves, already the world’s largest, have risen past $1.2 trillion, a state news agency said Thursday, amid surging trade and plans to create a multibillion-dollar company to invest some of the stockpile. […]
Doomsday for the Greenback
April 13th, 2007This guy’s Magic 8 Ball is saying the same thing as mine. Via: Information Clearing House: The American people are in La-la land. If they had any idea of what the Federal Reserve was up to they’d be out on the streets waving fists and pitchforks. Instead, we go our business like nothing is wrong. […]
New Zealand Dollar Gaps Through 73
April 13th, 2007You might have thought I was exaggerating when I wrote, “New Zealand farmers are going to get nailed to a cross made out of yen and euros.” If anything, that statement wasn’t strong enough. And what are they proposing in Wellington? Raise rates, making the carry trade action even more severe!? Driving the thing even […]
Gold: Switch Off Your Targeting Computer
April 13th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I don’t like calling the action in the pits of the most diabolical casino that the world has ever seen, but I’m being forced to pay attention to this. I’m just trying to hold on to as much of the little […]
