FT: Dollar bears in for shock if US cuts energy imports

Dollar bears in for shock if US cuts energy imports - FT.com

By Mansoor Mohi-uddin

The future of the dollar is more likely to be determined in the shale gas and oilfields of Dakota and Texas than in the sovereign wealth funds of Asia and the Middle East. This is because striking new technological developments are set to transform America’s energy supplies, significantly improving the US balance of payments and the long-term outlook for the greenback.

Read the Balance of the article at Financial Times

Bove: Only Fools Meet Their Financial Commitments

Dick Bove On The Foreclosure Settlement: There Is No Sanctity Of Contracts; Only Fools Meet Their Financial Commitments | ZeroHedge

-the US taxpayers bailed out the banks, which are now using  the balance of said proceeds to pay a settlement which amounts to the tune of $2,000 per every person foreclosed on in the past 3 years, in order to assure their vote for Obama, while in the process trampling contact law, as no longer will anyone in America honor anything printed and signed.

Go to the Zerohedge link to see the comments and watch the short video of Dick Bove and his tinging criticism of the sttlement deal.

The mistaken Assault On Capitalism

Blaming Capitalism for Corporatism - Edmund S. Phelps and Saifedean Ammous - Project Syndicate

The future of capitalism is again a question. Will it survive the ongoing crisis in its current form? If not, will it transform itself or will government take the lead?

The term “capitalism” used to mean an economic system in which capital was privately owned and traded; owners of capital got to judge how best to use it, and could draw on the foresight and creative ideas of entrepreneurs and innovative thinkers. This system of individual freedom and individual responsibility gave little scope for government to influence economic decision-making: success meant profits; failure meant losses. Corporations could exist only as long as free individuals willingly purchased their goods – and would go out of business quickly otherwise.

This is the firts paragraph of a terrific article from Edmund S Phelps and Saifedean Ammous. I suggest you follow the ble link above and read the whole thing. They make the important point that that the current economic problems were not caused by runaway capitalism but by the run away from capitalism to nanny state corporatism.

Great Quote Clive Hale used today

The man who reads nothing at all is better educated than the man who reads nothing but newspapers.      Thomas Jefferson

I would personally add the following :  The man who reads bathroom walls is better educated than the man who watches TV news. 

Donald Coxe on thur Jan 20 2012

Don Coxe conference call

Dash of Insight provides Analysis of Best Recession Forecaster

A Dash of Insight: Best Recession Forecaster: Robert F. Dieli

Jeff Miller of A Dash of Insight provides a really terrific set of posts on economic forecasting and on the best performing forecasters. Robert F Dieli
proved to have the best record and Jeff discusses Mr. Dieli and his model, and why it has been successful.  Click through to the links to read as I do not want to be stealing any of either man's good work.
Thanks Jeff and Mr. Dieli for making this available to the public.

Don Coxe /Dec 22 2011 conference call

Event Lobby

Don Coxe
Conference Call

Carpe Diem: Some Great Questions from Don Boudreaux

CARPE DIEM: Some Great Questions from Don Boudreaux

Mark Perry lists 6 questions asked by Don Boudreax and they are good questions. Hit this link to see them because I don't believe I shuold just steal the post.

from Tim Price: So long, and thanks for all the stress

The price of everything
Tim Price is always informative and entertaining and this post is not exception. An excerpt below:

So the UK doesn’t get to join the great euro zone leper colony. Oh well. Tant pis. Tja. As Captain Blackadder once said, we lost closer friends the last time we were deloused, and were more wounded the last time we clipped our toenails.

Donald Coxe Conference Call Dec 9 2011

Don Coxe Dec 9

Kyle Bass Q3 Letter and Interview

Kyle Bass Q3 Letter
Quarterly Hayman Capital letter to his investors is always worth while.

Bass recent video interview---very good.
The video is terrific and his analysis is relentlessly logical. I would love to work with this guy. Plus it would get me back home to Dallas.

Yeah !! Barney Frank to Retire

via Carpe Diem

Judge Rakoff Delivers Brutal Takedown Of Both The SEC And Citigroup

MUST-READ: Judge Rakoff Delivers Brutal Takedown Of Both The SEC And Citigroup

Bottom line (to Rakoff) this settlement offers no facts, and no truth to the public:

"Finally, in any case like this that touches on the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives, there is an overriding public interest in knowing the truth. In much of the world, propaganda reigns, and truth is confined to secretive, fearful whispers. Even in our nation, apologists for suppressing or obscuring the truth may always be found. But the S.E.C., of all agencies, has a duty, inherent in its statutory mission, to see that the truth emerges; and if it fails to do so, this Court must not, in the name of deference or convenience, grant judicial enforcement to the agency's contrivances."

Read more: http://www.businessinsider.com/must-read-judge-rakoff-delivers-brutal-takedown-of-both-the-sec-and-citigroup-2011-11#ixzz1f1oVFKQE

From CARPE DIEM

CARPE DIEM

By Gary Varvel.

Thanks to Mark Perry for pointing out Gary Varvel's cartoon.

Don Coxe on Nov 18

Donald Coxe conference call November 18

Don Coxe Conference call

Friday Nov 4 Coxe Conference call

FIXED Link now

Link is bad. Sorry I will fix when I find the correct address.

charlie Rose Interview of Ray Dalio

Charlie Rose - Ray Dalio

The manager of the biggest hedge fund, Ray Dalio in a good interview. Mr. Dalio  has a crotchety reputation but I found him very likable and, of course, smart.
http://www.charlierose.com/view/interview/11957

market Folly: Kyle Bass video very worthwhile

Kyle Bass Betting Against Japanese Government Bonds (JGBs) ~ market folly

In particular, he's focused on Japanese Government Bonds (JGBs). Of
them, Bass notes, "At a time at which the bond I think is the most risky
asset (or one of them) in the world, the pricing of that asset using
the Black-Scholes model is the best it's ever been. So you have this
huge convex moment that you can put enormous positions on in Japanese
interest rates very cheaply."

Read more: http://www.marketfolly.com/2010/08/kyle-bass-betting-against-japanese.html#ixzz1bHQwfeKT

Video is at the link above.

Donald Coxe October 14 commentary

Event Lobby
Mr. Coxe commentary link

Business Insider: Weimar Hyperinflation, And The Roots Of Today's Crisis

Art Cashin Offers A HuAge Lesson On Weimar Hyperinflation, And The Roots Of Today's Crisis

Art Cashin is one of the great historians and readers of trend at the new York Stock Exchange. His letter today is a great example.
Follow this linl to Business Insider to read the comment.  Plus my thanks to Art Cashin for still writing his comment.

Steve Jobs, World's Greatest Philanthropist - Dan Pallotta - Harvard Business Review

Steve Jobs, World's Greatest Philanthropist - Dan Pallotta - Harvard Business Review

"What a loss to humanity it would have been if Jobs had dedicated the last 25 years of his life to figuring out how to give his billions away, instead of doing what he does best."

This article by Dan Pallotta is very good, short and to the point

hat tip to mark Perry of Carpe Diem

Don Coxe conference call Oct 7, 2011

Event Lobby

Mr. Coxe Oct 7 call

Farewell to a Star

Farewell to Steve Jobs a real star. There have been two real stars of business innovation in my lifetime and they are Bill Gates and Steve Jobs. The loss of creative vision and esthetic engineering that Jobs brought to Apple and then to the rest of us leaves a tremendous void. I can only hope he has developed proteges to follow in his footsteps.
Steve Jobs delivered hope and change for the better in technology for business and for personal use. He really delivered the goods and did not merely spout bumper slogans. A rare individual and one who will be missed.

Shameful Government Overreach: Civil Forfeiture

CARPE DIEM
Mark Perry posts this appalling story of a police department stealing private property. This is very scary to contemplate.
Follow the link.

Zerohedge: Stockman Blame the Fed

David Stockman: Blame The Fed! | ZeroHedge

I blame it on the Fed. I blame it on the 1971 decision by Nixon to close the gold window and let the dollar float. Because out of that has evolved -- or morphed -- a central banking policy in the world that absorbs unlimited amounts of government debt. And so we went on what I call the "T-bill standard" or the "federal debt standard." And the other central banks of the emerging mercantilist Asian economies -- Japan, Korea, and now, especially, the People’s Printing Press of China -- have absorbed this massive emission of debt that otherwise would’ve created powerful negative consequences that would’ve forced politicians to act long ago. In other words, higher interest rates, pressure for inflationary monetary policy, and the actual appearance of price inflation. But because all the bonds on the margin were being absorbed by the central banks, we got away for twenty or twenty five years with “deficits without tears.”

 Great interview ; audio 47 minutes

transcript