End of QE= End of the rally?

settembre 2, 2009
Zerohedge may be right or wrong whether there is collusion between the Fed and the Treasury market primary dealers. What’s for sure is that the Fed is running out of ammos – and their monetization of debt is closely dorrelated with these months’ rally.
clipped from ftalphaville.ft.com

Nevertheless, there is one issue the market should be wary of. As Zero Hedge noted on Tuesday,  the Fed’s purchase timeline is quickly running short. Having originally committed to $300bn worth of Treasury purchases, the latest auction on September 1 brings the total sum purchased since March to $276.3bn. This leaves less then $25bn for future auctions. As to what that implies, Zero Hedge commented:
As Zero Hedge discussed before, this total will be used up in the next 2 weeks. What then? All of a sudden the invisible bid under equities is looking very, very precarious.  And here is a graphic representation to either D-Day for equities or to QE 2.0

Fed Agency purchases - Zero Hedge

Which seems to suggest that when the Fed QE drip-feed is shutdown come mid-September, no-one can really be sure of how markets will respond. This is all the more the case if you consider how closely correlated the US equity market ‘recovery’ has indeed been to Fed purchases:

DJIA - FT
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Arafat, Nobel per la pace

settembre 1, 2009
Un’immagine vale più di mille parole.
clipped from twitpic.com

Yasser Arafat, Nobel Peace Prize prize winner

Yasser Arafat, Nobel Peace Prize prize winner
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CIA reviews?

agosto 27, 2009
clipped from www.usnews.com

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American Dream or American Nightmare?

agosto 17, 2009
Home-ownership is just a part of the american dream, and it’s a part which has been unduly subsidized and distorted by the government, to the pont that it threatens the whole dream.
clipped from mjperry.blogspot.com
For most Americans, until the recent past, home ownership was a dream and the pile of rent receipts was the reality. From 1900, when the census first started gathering data on home ownership, through 1940, fewer than half of all Americans owned their own homes. Home ownership rates actually fell in three of the first four decades of the 20th century.
Yet the story of how the dream became a reality is not one of independence, self-sufficiency, and entrepreneurial pluck. It’s not the story of the inexorable march of the free market. It’s a different kind of American story, of government, financial regulation, and taxation. We are a nation of homeowners and home-speculators because of Uncle Sam.
Bottom Line: More support for the high likelihood that the global financial crisis, mortgage tsunami, and housing bubble can all be traced to federal government intervention to create affordable housing, see
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Chi visse sperando…

agosto 17, 2009
Per chi si chiedesse le ragioni della debolezza imperante sui mercati negli ultimi giorni. Il grafico sottostante riporta il rapporto prezzo / utili nel tempo per l’indice americano S&P 500, ossia quanti anni di utili sarebbero necessari perché il prezzo pagato oggi per un’azione venga ripagato con gli utili prodotti dall’azienda per ogni azione, ipotizzando che tali utili non cambino. Come si può osservare, siamo tornati a livelli comparabili a quelli dell’euforia del 2004. Date le prospettiva tutt’altro che rosee dell’economia, è ormai evidente che non il mercato non sta ormai scambiando ai livelli di una ripresa dall’abisso dei mesi scorsi. Sta scommettendo sulla speranza di una robusta ripresa che ci riporti ai livelli dorati precedenti la crisi. SE siete convinti che la questo sia un risultato probabile nel corso delle prossime settimane, ho una fontana da vendervi. Quella di Trevi.
clipped from bespokeinvest.typepad.com

Spxpe814
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Buon compleanno, Castro, macellaio di Cuba

agosto 16, 2009
Togliatti avrebbe saputo far meglio, immagino, ance se la storia economica comunista è sempre stato catastrofico, senza eccezioni .
Per fortuna, non siamo stati costretti a scoprirlo.
clipped from aconservativemind.blogspot.com

Castro prese il potere agli inizi del 1959 promettendo ai suoi compatrioti non il comunismo di stampo sovietico, ma la libertà. E fino al 1961 si guardò bene dal dire che la sua era una «rivoluzione socialista» e tantomeno dal definirsi «comunista». Fu così bravo da ingannare persino gli americani. «Siamo stati noi a mettere al potere Castro», disse poi l’ambasciatore statunitense all’Havana, Earl T. Smith.
i numeri parlano chiaro.
non è vero che prima dell’arrivo al potere di Castro e dei suoi barbudos Cuba fosse in miseria. L’Atlante dello sviluppo economico scritto nel 1966 da Norton Ginsburg metteva l’isola al ventiduesimo posto tra le 122 nazioni prese in esame e le accreditava un numero di medici e dentisti, in proporzione alla popolazione, maggiore di Francia e Regno Unito
Certo, era una ricchezza distribuita in modo ineguale. Ma cinquant’anni dopo a essere distribuita in modo più o meno uniforme è la miseria – con l’ovvia eccezione della cricca che vive attorno ai fratelli Castro
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“the rumors about America’s victory in the Cold War appear to have been greatly exaggerated”

agosto 16, 2009
Apparently, the rumors about America’s victory in the Cold War appear to have been greatly exaggerated. Ironically, the USSR more latsing legacy is the lies JGB spread around.
clipped from pajamasmedia.com

From his communist mentor Frank Marshall Davis to the unrepentant domestic terrorist Bill Ayers, Barack Obama has always gravitated towards people holding radical leftist views akin to those of Zelaya. He eagerly promoted leftist ideology as an ACORN activist and later when he taught and developed theories that opposed the American system of individual liberties in favor of unsustainable group entitlements at the expense of producers — theories that advocated placing the people under the controlling “care” of the state.

Like John Kerry at the Senate hearings, President Obama may be acting in good faith, but his processing of reality is just as impaired by the same “metaphorical deformation.”
The Soviet Union may have self-destructed in 1991, but the seeds of intellectual deception it had planted gave such a bountiful crop that seventeen years later America has elected a leader who is guided by received notions designed to subdue and destroy this country.
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Oliver Stone bites the hand that feeds to lick the one that would ensalve him

agosto 16, 2009
clipped from pajamasmedia.com

The important fact about modern-day anti-Americanism is that it spreads almost exclusively among impressionable cultural elites who are most exposed to ideological clichés delivered through media and educational channels.

Thus, Oliver Stone is reportedly making a documentary about Hugo Chavez, whom he describes as an “energetic, principled champion of change in Latin America” and hopes, in Stone’s words, to “capture the spirit of his drive to roll back U.S. influence.” The ability to claim originality while working for decades from the same moth-eaten template makes Mr. Stone an Oscar-winning genius. Is there a chance that in the process of glorifying what he calls the region’s “liberation from the United States,” the legendary director might display authentic originality by interviewing, not a leftist, but a hero of anti-Marxist resistance? Can the devastation inflicted on Latin America by socialist policies persuade Mr. Stone to look beyond the worn-out clichés? We can only wish.

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Priceless

luglio 15, 2009
Semplicemente perfetta per descrivere quello che ogni governo intende quando parla di essere “costretto ad intervenire”… di solito, dopo aver creato il problema.
clipped from thediamondage.tumblr.com

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Iran Libertario

luglio 10, 2009
In fondo li capisco: hanno manganellato dei fedeli compagni di strada degli Ayatollah. In Iran, i marxisti fecero da levatrici alla teocrazia e ne finirono rapidamente massacrati.
In Italia, rifondaroli e giottini sono già i migliori difensori dei fondamentalisti islamici ed hanno cercato di portare in parlamento palestinesi fiancheggiatori del terrorismo. Ovvio che i mullah li vogliano ingrassare per bene, prima di macellarli
clipped from calamityjane.splinder.com
L’Iran (no, dico, l’Iran) ha protestato con l’Italia condannando l’uso della forza da parte della polizia per reprimere le manifestazioni degi oppositori al G8.

Buona, vero?
Solo che non è una barzelletta

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