Update 8/9/2011: Good morning. While I am educating myself this morning, I would like to share what I have been reading/watching: Yesterday’s 634 rout was primarily blamed on S&P downgrading US debt. I believe it is just a trigger. But trouble has been brewing for a while. Indecisive leadership from Obama and a dysfunctional political […]
Monday August 8, 2011 The Forecloser John Oliver gets the scoop on a Florida couple and rookie lawyer who foreclosed on Bank of America and turns their incredible story into a movie. (05:51) The Daily Show – The Forecloser Get More: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook
Following Friday’s (Aug 5) downgrade of US credit rating, S&P is rumored to set France as its next downgrade target. France’s SocGen and UK’s Unicredit are rumored to be on the ‘brink of disaster’ Europe pledged to use the EFSF to buy Italian and Spain bonds. This puts Germany, the only healthy economy in the […]
First, futures update: Dow futures are down 289 and S&P futures are down about 32. I would say, it is not as bad as many feared. We just have to wait till Monday and see how things will shape up. [I would venture to guess, the markets will be down big at the open and […]
On April 18th, I posted this note about Goldman’s take on S&P’s outlook change on US debt. There is a saying in Telugu, “dongalu dongalu oollu panchukunntlu” (Just like thieves divided the villages among themselves to rob). True to this age old maxim, Wall Street banks and the ratings agencies robbed us of our retirement […]
On Friday, Aug 5 2011 at 8:01 PM when all financial markets (ex ForEx) in all western countries have closed for trading, Standard and Poor’s downgraded US Debt. Via Bloomberg: S&P lowered the U.S. one level to AA+ while keeping the outlook at “negative” as it becomes less confident Congress will end Bush-era tax cuts […]
Sorry to spoil your morning. CNBC’s Larry Kudlow tweeted this last night. Bank runs in Italy. This cannot be good.
Fascinating lecture on algos and how they operate in the trading universe.
As I mentioned several times, India with only 128% of debt burden (sovereign + consumer debt) and huge population, is the right place to be for economic growth, closely followed by China.
Financial markets have given an unforgettable 50th birthday gift to the President. Today is nothing less than a massacre for stock markets across the world. There are any number of reasons for today’s massacre. Happy Birthday, Mr. President. The fundamental reason is imploding confidence in sovereign debts, US included. Back in 2008, many market savvy […]
Short-Term Yields Going Negative In simple English, it means that you have to PAY THE BANK TO KEEP YOUR money. This kind of imbalance happens in extreme panic situations.Via Zero Hedge: The stunner in this morning’s newsflow (the long, long overdue market collapse which is a much needed catalyst for QE3 should not surprise anyone), […]
When Chandrababu Naidu gave permission to a boatload of engineering and medical colleges in the early 2000’s I thought he was lowering the education standards. Its been close to a decade after these colleges mushroomed everywhere from Vizag to Vikarabad.Now I got a chance to see how these colleges are doing. The earlier guinea pigs […]
As of May 2011, 45 million Americans, or 15% of the population are on food stamps. In 2007 the number is a mere 26 million. The great recession added nearly 20 million people (or as the well healed right-wing talk show bigots call them, “parasites”) into this social safety net. ZedroHedge noted a peculiarity in […]
Debt ceiling debate is over. Once again, Republicans won the fight (not the debate). Congress passed a bill that would have no “revenue increases” (Democratic euphemism for taxes) on the “job creators” (Republican euphemism for corporations on welfare, tax dodgers, and those who are in the top 1% of earners). Grandma on Social Security, tough […]
If you missed the Netflix ads or Netflix story of late, you must not be living in the United States. Regular listeners of my show know that Netflix is one of my beat-up horses. I was on record saying that it is a company with a bloated stock price and potentially an accounting scam artist. […]
