Nov 11 Hubbard’s Bailout Cupboard is Bare

Nov 7  A Major Dow Bottom Next Week?

Nov 4 Can President Obama’s ‘little task force’ solve America’s big problem?

Oct 24 “Mistaken”

Oct 21 The Grass Isn’t Always Greener

Oct 20 Buffett Never Times The Markets, Unless He Is Buying

Oct 10 Death By A Thousand Bailouts?

Oct 9  Greatly Depressed U.S Assets?

Oct 7  3Q08 Wish List Review and Outlook

Oct 6  Company Added To Wish List

Oct 3  A Necessary Evil

Oct 3  Wish List Note: Markets Battered = Batter Up

Oct 2  GE hires Buffett the Stock Promoter

Sept 30 We All Scream For Ice Cream!

Sept 26 Buffett Turns USD Absolutist

Sept 24 Let Paulson and Bernanke Buy Some of This Crap

Sept 19 A Week That Will Be Remembered

Sept 18 Where Is The Panic?

Sept 18 Why Don’t The Anti-Shorts Laugh All The Way To Bank?

Sept 16 Has The Healing Process Begun?

Sept 15 (5:00 AM)  Of Failure and Opportunity

Sept 10  Do U.S. Taxpayers Want To Gamble on Lehman?

Sept 8 Paulson’s Exit Strategy

Sept 3 The Big Question

Aug 13 The Stag Party Left Gold Bulls Drunk and Naked

July 31 Of Misnomers, Fallacies, and Lies

July 23 (2:00 PM)  Company Removed From Wish List

July 7 2Q08 Wish List Review and Outlook

July 3 Grrr...

June 27  Not gentle like before

June 17  Regulators, Saddle Up!

June 11  The Fed Would Love It If It’s Bluff The Dollar Higher Plan Stays Together

June 6 Fed Tries To Fight The Flows

May 27 Greenspan’s Incessant Contradictions

May 23 Commodities Run Towards Ancient Buffalo Jump

May 15 Beware The REIT Rally

May 8  A Rally To Nowhere

May 2  Few Demanded $1,000 ounce Gold

Apr 28 Barrels of Fun as Commodities Continue Run

Apr 24 Miller’s Bull Market Brainpower

Apr 18 A Stable Leg For Unstable Times

Apr 14 He Did It His Way (Unfortunately)

Apr 7  1Q08 Wish List Review & Outlook

Mar 20 Gold: Historic Bust or Healthy Correction?

Mar 19 It Is No Longer Raining Shoes

Mar 16 Did The Fed Just Unleash Hell?

Mar 14 Lenders of The Last Resort Unite!

Mar 13 What The

Plunge Protection Page

Fiend’s Superbear

Financial Sense

Safe Haven

Comstock

Prudent Bear

Gold-Eagle

ITulip

Daily Reckoning

Cross Currents

Zeal

Capital Stool

Nouriel Roubini

Elliott Wave

321Gold

Le Metropole Cafe

Wall Street Follies

Circuit Breakers (NYSE)

B-Markets - 100 Years

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November 19 Takevoer of Wish List company Connors Bros. Completed Connors Bros.
November 17
Obama Truncated The Word
November 14
Bailout/Bubble Nation Until The End The Word
Nov 12
Why Your FDIC-Backed Bank Could Fail Prechter

September 2008


Goldman cuts U.S. growth forecast, sees 9% unemployment
Buffett On Unemployment, Goldman Investment Fox Business
U.S. consumers expect steep unemployment rise: survey
Stock Volatility Will Soon Top 1929 Record on S&P Rout
Gold surges more than 6% on safe-haven buying MW
Citi's Pandit: We Will Not Sell Smith Barney, Shares Plunge Again CNBC
US seeks 300 billion dlrs from Gulf states
Quoting "highly informed" sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.
Waging war against deflation could have nasty consequences
Debt Deflation Bear Market Update Part I: 2009 Windup iTulip
Fed's Bullard: U.S. deflation an issue Fed must face
Treasuries Head for Best Week Since Stock Market Crash in 1987
Not a good sign: the Treasury once again can borrow for free
The Long Bond is trading at a yield of 3.43% and the dollar price has exploded 9 points today. I have done this for nearly 30 years. I have never witnessed this before.
Treasury note yields signal market's direction
Dividend yield tops the 10-Year Treasury for the first time in 50 years
Don’t panic about the stock market.  Panic about the credit markets instead
'Nowhere to run': Bear mauls long-held market beliefs, too
“There is nowhere to run and hide. You have gotten bludgeoned in every direction.”
S&P's Worst-Ever Year Leaves 63 Industries, 482 Companies With Losses
Bears' run not done yet?
Four Bad Bears
2002 Stock Lows May Not Hold
Bears Gone Bulls Badly Hit since late October
Ignore the Stock Market Until February
Stock markets may trade sideways for 15 years - Hendry
Lowry Research On Current Market Conditions Trader’s Narrative
Eddie Lampert's Troubles: It's Not Just Sears BeSpoke
Corporate Earnings Go Cliff Diving Mogambo  Keen - Dr. HB
Faber: Strong Rebound Coming in Next 3 Months
Why No Currency Crisis?
Schiff: Dollar Will 'Fall Like a Stone'
Volcker Is Said to Foresee Extended Economic Slump in U.S.
Wayne Angell blames Fed for downturn
Twenty Reasons Why We're Not Consuming
The New Frugality: Americans rediscover thriftiness in economic crisis
Campbell Beats Bear Market as Consumers Open Soup Kitchens BL
Light at the End of the Recession
Fed's Lacker: Reasonable to expect rebound in 2009
The Big 3 Depression risk
Credit cards will be the next big financial blowup
Visa says might incur "significant" charges in FY09
FHA-Backed Loans: The New Subprime
The same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more
Commercial Loans Are Looking Risky
California median home price drops 34 percent
Crisis Hits Values of Commercial Mortgages
Fannie, Freddie Suspend Foreclosures Through Jan. 9
Citigroup on the block
Markman: “...one theory making the rounds this week is that Buffett put $5 billion into Goldman at around $125 per share in September not as an investment but to help provide funds for the collateral.”
Jobs, Gates, Buffett Should Run U.S. Automakers
The decline of the North American car Macleans
Pass the plate Economist
If Detroit’s carmakers are bailed out, Europe’s will be next in line
Toyota to Cut 3,000 Jobs, 50% of Japanese Temporary Workers, as Sales Fall
A tough auto market? Not if you're a Maserati exec
Dell sees China sales down
Financial Job Losses May Reach 350,000
WaMu to slash 1,600 jobsin Banking Industry `Seismic Shift'
Bank of New York Mellon to ax 1,800 jobs
Bad news for the back-office boys of Atticus
Is nothing sacred? Even Nat Rothschild’s Atticus Capital is laying off staff.
`Unprecedented' Biotech Bankruptcies Erupt as Global Crisis Curbs Funding
Can auditors be sure a firm will survive the next 12 months?
U.S. retirees hit by "longevity risk"
Barbarians of Yore Perish in Bonfire of Inanities
'Barbarians at the Gate' authors reflect on Wall Street's madness
The Six Biggest Myths About Gold
Russia's Sberbank sees precious metals sales surge
With oil at $50, can $30 barrels be far away?
Gas prices sink below $2
Refiners pinched as gas price falls faster than oil
Goldman: We Give Up On Guessing Oil Prices
The case for buying oil stocks
Petrobras Discovers Up to 2 Billion Barrels of Light Oil in Espirito Santo
Doubt greets IMF bailout offers
Japan Economy Headed for Longest Slump in Decade, Analysts Say
Singapore Lowers 2008 Growth Forecast; Says Economy May Shrink Next Year
Mortgage debt forces thousands to sell up
Over one in five homes on the market are there because owners cannot afford the mortgage repayments
A free lunch for you is a painful cost for someone else
Japanese Companies Curb Shareholder Perks, Gifts Amid Recession
HK’s Exchange Fund posts $83.3b loss Jan-Sept
Indonesia orders energy companies to bank locally
Markets wary of Irish debt as fresh rescue looms
Shake-up could leave only two banks
Thanks, Hank
Asian pensioners are the latest victims of Lehman’s bankruptcy
Heading for recession – and the crime wave that goes with it
The End Of An Error: Yugo Stops Production
Why does a Yugo have a defroster on the rear window?
To keep your hands warm while you push it.
Report: U.S. Influence Will Fade By 2025 CBS  Global Trends 2025 DNI
Pirates send shipping firms on costly detour G&M
New Hyperinflation Index (HHIZ) Puts Zimbabwe Inflation at 89.7 Sextillion Percent CATO


S&P closes at lowest level in more than 11 years MW
Dems delay auto bailout vote, seek plan from Big 3 AP
JPMorgan Will Fire 3,000 in Investment Banking, Freeze Some Base Salaries BL
Leading indicators fall by more than expected in Oct. AP Conference Board
U.S. Initial Jobless Claims Unexpectedly Rise to Highest Level Since 1992 BL
U.S. Financial System Still Needs at Least $1.0 Trillion to $1.2 Trillion FBR  PDF
Perfect Consumer Storm to Last Until Mid-2009
The Paradox of Deleveraging Will Be Broken PIMCO (McCulley)
Recovery Watch 2009
Bernanke May Find Deflation `Back on the Table' as Threat...
Falling Consumer Prices -- Good or Bad for Consumers
It is inexcusable that economists would be spreading this malarkey!
Prechter Explains the Price Effects of Inflation and Deflation Prechter
Global deflation risk grows
The Menace that is Deflation
Cutting Interest Rates May Not Be Enough: Gross
Fed guards against deflation
Kohn: “We have already engaged in forms of quantitative easing”
Fed to Cut Rates to Zero in January on Deflation Risk, JPM Predicts
Deflation now tops policy-makers' hit list
“Something like three years of global demand for refrigerators is in warehouses in China”
In a weird world, yields on Tips point to deflation FT
2008’s Deflation Scare Echoes 2002
China Money: Market gears up for deflation
Months after coping with the highest inflation in more than a decade, China's money market is gearing up for a fresh shock: deflation.
Japan Faces Deflation as Exports Slump, Says Barclays' Morita
The spectre of 30s-style deflation in the British economy looms

Stocks Slump As Signs Point To Harder Times
Over 100 U.S. "blue chips" now selling for under $10 a share
All for One and One for All  WSJ
James Bianco notes that the following seven assets currently sport at least an 85% correlation with the Standard & Poor’s 500-stock index
Bears' glass half empty or half full?
Risk Management Puplava
Welcome to the Great Unwind Bonner Mogambo
Phase IV of the Global Systemic crisis
Breakdown of the Global Monetary System by summer 2009
The need for another unemployment benefit extension
School daze: Wall Street woes hamper local building projects
The Road to Financial Ruin: We Have to Spend Money Now
The death throes of the bond insurers
Best housing 'bailout' may be no bailout
Housing slowdown spurs auction of construction equipment
Sign of the times: housing bubble pop in Dunsmuir
No job, bad mortgage -- no luck
All the foreclosure prevention plans to date will do little to help the next wave of delinquent homeowners, who can't make their monthly payments because they've lost their jobs
Corporate Bond Risk Rises to Record in Europe, Credit-Default Swaps Show
Junk Bond Yields Reach Record 20%
“Either the market is right and expecting a default rate considerably higher than it was in the Great Depression, or we have such profound dislocations and selling pressures going on that it really is creating extraordinary fundamental value”
GMAC Applies for Status as U.S. Bank, Begins Exchange of $38 Billion Debt
Auto CEOs come begging on private jets
“There's a delicious irony in seeing private luxury jets flying in to Washington and people coming off of them with tin cups in their hands saying that they're going to be trimming down...”
Rolls Royce to cut up to 2,000 jobs in 2009
Chrysler Canada seeks $1-billion
'Saved by Zero': The Toyota Ad That Won't Stop
Isuzu, Mazda Cut 2,700 Jobs, Reduce Output in Japan on Vehicle Sales Slump
Alwaleed Exceeds Buffett's Loss Rate as Citigroup, News Corp. Values Slum
Emerging market guru Mark Mobius punts Brazil
Grand Canyon IPO breaks drought, prices low
The pricing broke a nearly 15-week slump without an IPO in the US, the longest in decades.
U.S. probing Golden West lending, sale: prosecutor
Legal Boutiques Take On UBS, Citigroup as `Magic Circle' Law Firms Beg Off
Hurt by Losses, Pension Funds Criticize Rules
Calpers Sold $2 Billion of Private-Equity Stakes Before Markets Tumbled
Conrad Black pursues clemency from Bush as way out
Rich Cut Back on Payments to Mistresses WSJ
Still, only 12% of the multimillionaire cheaters said they plan to give up on their lovers altogether for financial reasons.
Oil Falls Below $50 a Barrel for First Time in 22 Months as Demand Weakens
Relief at pump: gasoline below $2 a gallon
Oil Supertankers May Avoid Suez on Somalia Piracy, Raising Shipping Costs
New mining projects slashed
Schiff: Gold Will Rise, Dollar Will Collapse
Copper to Slump Below $1 a Pound as Inventories Swell, Threlkeld Forecasts
Nikkei sinks below 8,000; Kospi and Hang Seng dive
“It's all about the October lows.  Investors are hoping we can hold on to the lows that were formed in October, or hold above there; if we don't, the outlook is very, very bad."
Japan's Exports Drop Most in Seven Years as Global Recession Intensifies
US treasury bonds 'still the best option'
US template wrong for China
Chinese officials warn of 'grim' jobs outlook
Job seekers in cities outnumber new jobs 2-to-1
Interest-only borrowers trapped by price falls
41% were hoping to use the increase in the value of their property to pay off their loan...
Sarkozy’s Fiscal Meeting Raises Diplomatic Hackles NYT
Mr. Sarkozy said nothing about his plans to convene a meeting to President Bush or the 18 other leaders while he was here.
Iceland secures £2bn IMF rescue package
Sweden's Biggest Banks Shun State Rescue Plan, Riling Ministers, Companies
“If the banks do not participate voluntarily and cannot show that they can create liquidity in the system themselves, then the government must force the banks to join the system”
Babcock on the brink
Economic deja vu as powers that be play same old tune
Market crashes: Blowing bubbles
Bankruptcies Surge
Fears of rights issue at Wolseley as plumber cuts another 2,300 jobs
Turkey: Reckless and dangerous rate cut
University loses 15 billion yen in derivatives
“  As none of the members in our university's management has detailed knowledge on financial products, we cannot deny that we were too optimistic.”

Leonard To recap: The U.S. financial sector, housing industry, and auto industry are on life support, the Federal Reserve is gloomy, and a massive wave of deflation is breaking over the entire economy.

“This modern risk-management paradigm held sway for decades. The whole intellectual edifice, however, collapsed in the summer of last year.”
Alan Greenspan

“...there is a great opportunity for China to learn from our significant mistakes...”
Paulson

“Government owning a stake in any private U.S. company is objectionable to most Americans – me included.”
Treasury Secretary Henry M. Paulson

“We have never seen, in history, public intervention taking place in such a massive way in such a short timespan."
Europe Shares Nosedive - Reuters

"We have a failed financial structure"
Volcker

“I sincerely believe that Henry Paulson and Ben Bernanke should resign” 
Jim Bunning

“We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks"
Rogoff

“I'm not going so far as to say we're going to live in a cave, but life is going to change.”
Rosenberg

“Neither we nor anyone else can predict when the housing market will recover and it would be folly for anyone to try to do so.”
Richard F. Syron

“I believe we're going to go into recession, I think the second half (of the year) will be worse than the first half, and I think the recession will last into 2009...”
Hedge star Paulson

“Purging rampant inflation and a debased currency requires administering a harsh medicine.”
Storms on the Horizon Fed Fisher

“The markets have developed into a monster that has to be tamed" 
Horst Koehler

“The recession is just starting” 
Jamie Dimon

“Worry about inflation after we're sure this isn't a depression"
David Wyss

“This is not to protect the banks but to protect the public from the banks”
Mervyn King

“It is not over yet.”
Fed Kohn

“Are there risks here? Yes, but the risks are modest in comparison to the substantial damage to the economy and economic well-being that potentially would have accompanied Bear's insolvency.”
Fed Geithner

"Basically the Fed is starting to take the crappy paper off the Street"  ~
NYP

“There probably will be some bank failures”
Bernanke

“I try to stay away from commenting on my successor because he's got enough problems."
Greenspan

“The seeds of an inflation problem are sown several years in advance, and it is not always easy to see the seeds as they sprout.”
Fed Poole


“I wouldn't quite call it a credit crunch. Funds are available...What has happened is a repricing of risk and an unavailability of what I might call 'dumb money,' of which there was plenty around a year ago."
Buffett

“People have more debt than they can afford to pay and they gambled on house prices going up forever. There is no way that Fed policies can undo these harsh realities. Bernanke needs to say to Congress, ‘We have reached the limits of what responsible monetary policy can do.’ ”
Joseph E. Stiglitz, NYT

“Cash is available.  We should use that in larger amounts, as necessary, to solve the problems of the stress [of repossession]"
Alan Greenspan

“Even if necessary changes in policy are implemented, the odds now favour a US recession that slows growth significantly on a global basis.”
Lawrence Summers

“Our entire banking system is a complete disaster.  In my opinion, nearly every major bank would be insolvent if they marked their assets to market.”
Andrew Lahde

Quote of the year?
“When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you've got to get up and dance. We're still dancing”
Chuck Prince, July 10, 2007

“Remember the fellow who said you couldn't know a bubble until after it burst? With some distance from his perch at the Fed, Greenspan seems to have acquired 20-20 vision.”  Baum

“Bernanke loves printing money. This man is a nut”
Rogers

“Should growth fall below 1 percent, we could see a plunge in the dollar.  Some form of intervention would be necessary to stop it”
Mr. Yen

“I’d like to know what those damn things are worth”
Bernanke
 

 

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