How To Raise Taxes and Create Prosperity
This article originally appeared in the Daily Capitalist. I am constantly reminded how useless are official and semi-official committees, subcommittees, boards, associations, organizations, bureaus,...
View ArticleSOPA Is “Unconstitutional”, Would “Criminalize” the Internet … China Is the...
Harvard Law School professor Laurence Tribe is one of the top constitutional experts in the country, and wrote one of the main treatises on the subject. Tribe wrote a letter to Congress last week...
View ArticleNews That Matters
By www.thetrader.se Ft.com Three former executives of Washington Mutual have agreed to settle a civil lawsuit stemming from the biggest-ever US bank failure for $75m, the WSJ says, citing people...
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Gordon Browns Gold Trade
In the period between Mid 1999 and the End of 2001, Gordon Brown (Chanellor of the Exchequer) managed to sell 12.5 million ounces of gold on the open market to fund wasteful socialist policies around...
View ArticlePreviewing Today's 2:15pm FOMC Decision
For the most part, today's FOMC decision is expected to be a non-event, if indeed Jon Hilsenrath is still the proper "distribution" venue for the Fed, with Bernanke expected to focus on "communicating"...
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EUR Pops As EFSF Issues 3-Month Payday Loans Then Promptly Tumbles On News...
Following a series of modestly successful debt auctions out of Europe, primarily in Spain and Greece, the morning capped its positive tone after the EFSF managed to sell €2 billion of 3 month deals: an...
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ECRI Renews U.S. Recession Call Clashing with Wall Street
By EconMatters The U.S. economy is showing signs of life with good economic numbers after the ECRI (Economic Cycle Research Institute) declared on 30 Sep. that the U.S. has already or is about to dip...
View ArticleFrontrunning: December 13
Bernanke's Legacy at Fed: Still a Lagging Indicator (Hilsenrath) Republican Keystone, tax cut bill expect to pass on Tuesday (Reuters) Romney Calls on Gingrich to Return Freddie Mac Fees (Bloomberg)...
View ArticleDaily US Opening News And Market Re-Cap: December 13
From RanSquawk Moody's placed the ratings of eight Spanish banks on review for a possible downgrade A solid 3-month T-Bill auction by the EFSF supported appetite for risk OPEC and IEA trimmed their oil...
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Gartman Flip Flops With Gold Support at 200 DMA at $1618/oz, And Massive...
From GoldCore Gold Support at 200 DMA at $1618/oz, Massive Chinese Demand and Gartman Flip Flops Gold is trading at USD 1,665.10, EUR 1,261.20, GBP 1,067.30, CHF 1,557.40, JPY 129,550 and AUD 1,643.0...
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So Much For A "Record Black Friday": November Retail Sales Miss Big
Earlier we just got confirmation out of Best Buy that one can not, as expected, offset negative margins with near-infinite volume (as the stock tumbles). Now we get advance retail sales proving that...
View ArticleTough Questions for MF Global, Conflicted Trustee Giddens & SIPC President...
Guest post by MFGFacts.com All eyes will be on the Senate Agriculture Committee Hearings [today] at 10:00 AM (EST). We hope to be spared the spectacle of representatives using the opportunity for...
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Morgan Stanley Reaches Comprehensive Settlement With MBIA
A core portion of the MBIA thesis has been validated. Furthermore, the settlement hit to earnings of $1.8 billion is precisely as we expected back in March when we stated, "As Morgan Stanley Unwinds...
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Global USD Shortage As BoJ Swap Demand Jumps 48x
Its not just our European colleagues who are struggling under the weight of collateral value losses and de-hypothecation, the USD funding shortage is just as evident in Japan. As part of the globally...
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Greece - No PSI
Via Peter Tchir, of TF Market Advisors, As expected banks couldn't agree to a haircut. Now Greece, the EU, the IMF, and taxpayers, will pay out about about $11 billion of principal and interest before...
View ArticleArt Cashin On The Clash Of Market Reality With Post-Summit H[o/y]pe
It is always amsuing to listen to market narratives, however goal seeked they may be, when presented by market veterans such as Art Cashin, who in this case deconstructs the violent clash between...
View ArticleUS Drones Dropping Like Flies
Perhaps it is time for the stick-jockeys who are controlling US drones to put down the twinky and focus a little more. Reuters is reporting that yet another US drone has crashed, this time while it was...
View ArticleBen Bernanke - $672K Mortgage Holder, Basketballer, Sebring Driver, Kindle...
Just in case the general population was getting accustomed to the image of a demonic creature from the depths of hell every time the name "Chairsatan" was invoked in impolite conversation, here comes...
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It's On: Iran Closes Straits Of Hormuz, Oil Explodes
Iran has closed the Straits of Hormuz for military training as was expected yesterday, according to RanSquawk. Oil, and all other commodities, are outtahere. And entire commodity complex: And for those...
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Watch Jon Corzine's Follow Up Testimony On The MF Global Bankruptcy,...
Even though he has had several days in which to "review his notes", the follow up testimony by former MF Global CEO Jon Corzine to the Senate Agriculture Committee starting momentarily will be replete...
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