Served by Jesse from Le Café Américain I had a friend from the old neighborhood who was the Comptroller of a major casino in Las Vegas in 1970-80s, where I also was married in 1981. Only lasting win from there, ever. According to this dour son of Italy the way he could spot a problem, […]
Read more...Served by Jesse of Le Café Américain Maybe it’s a mistake. Did Timmy have time to run their return on TurboTax? Well, at least it will make the results of the TARP program look better on paper if it drives up Citi’s stock price by inflating their financial results. That’s a plus, right? I guess […]
Read more...Served by Jesse of Le Café Américain Why do so many people continue to turn their noses up at an investment with returns like those listed below? And not only that, why do small groups continue to aggressively attack the very notion that it is genuine, a real trend, a development with appeal across many […]
Read more...Served by Jesse of Le Café Américain Gold is a superior store of value. It resists the attempts by the monetary authorities to debase it, because except for concerted attempts to suppress its price through non-profitseeking selling at key market points by central banks, and naked short selling by the global commercial banks in the […]
Read more...Served by Jesse of Le Café Américain Here is an update of the US Dollar (DX) Very Long Term chart last shown on 3 April 2009 when the Eurodollar short squeeze was still abating. We do not see any reason to change the longer term targets based on what appears to be a confirmation of […]
Read more...Served by Jesse of Le Café Américain The stock market rallied today because of a slightly better than expected ISM Services number. Considering how much ‘stimulus’ the government has given to the FIRE sector it should be doing slightly better than the real economy. Another reason the market rallied in New York today was a […]
Read more...Served by Jesse of Le Café Américain One cannot help but note that Team Obama is trying to derail serious proposals regarding financial reform for Wall Street at the G20 meeting, as we suggested they would. The concerns raised by US revelations at the G20 today about new intelligence regarding Iran’s secret underground nuclear facility […]
Read more...Served by Jesse of Le Café Américain This news has appeared on the Agence France-Presse (hat tip Michel Proulx) and I have translated this into English for now. One has to wonder if the great Speech Organizer will actually say anything that is worthy of the adjective, “major.” Someone has possibly told him that if […]
Read more...Served by Jesse of Le Café Américain The peak of foreign capital inflows into the US was clearly seen in the second quarter of 2007, just before the crisis in the US that has rocked its banking system and driven it deeply into recession. Are the two events connected? Had the US become a Ponzi […]
Read more...Served by Jesse of Le Café Américain Someone asked why Bernanke seemed so positive about the US recovery, and what he would do if his prediction turned out to be incorrect. The first answer is rather straightforward. He is ‘jawboning’ or trying to increase confidence in the system to motivate businesses to spend and consumers […]
Read more...Served by Jesse of Le Café Américain US Personal Income has taken its worst annual decline since 1950. This is why it is an improbable fantasy to think that the consumer will be able to pull this economy out of recession using the normal ‘print and trickle down’ approach. In the 1950’s the solution was […]
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Read more...Served by Jesse of Le Café Américain This analysis from Bloomberg is based on some fairly modest economic assumptions. Most of the banks in question are state and regional banks that have not enjoyed the largesse of the Fed and Treasury like the free-spending, Wall Street money center banks, who are sharply curbing lending and […]
Read more...Served by Jesse of Le Café Américain These excerpts from the most recent TARP Congressional Oversight Panel Report make the risks in the US financial system abundantly clear. Do you think that the Congress has the will and the ability to act on their recommendation, with the men currently in positions of power on the […]
Read more...Served by Jesse of Le Café Américain “Flagrant evils cure themselves by being flagrant…” John Henry Newman Why the surprise? This is what the Wall Street banks do, even under a ‘reform’ administration. They use their customer money and public funds, for which they pay a pittance, to speculate in markets, distorting prices and taking […]
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