Shaking Things Up In Shanghai

Shanghai was the first market up during the fall of 08. Let's ope it isn't the first to go down and this is only a needed correction. I am not so certain.

Hugh Hendry's most recent letter to investors

Hugh Hendry's latest. for those of you unfamiliar with Mr. Hendry, he is a very successful fund manager who anticipated the down market and has a very clear eye for market reality.

Davidovitz speaks truth to power. (thru Tech Talk)

"We're Going Right Back Into The Tank"

at Clusterstock


I like this guy Davidovitz

Bloomberg: U.S. Stock Pessimism Drops to Lowest Since 2007, Survey Finds

From Bloomberg:

Aug. 26 (Bloomberg) -- Pessimism about U.S. stocks fell to the lowest level since the Standard & Poor’s 500 Index peaked in October 2007, as economic reports and policy makers indicate the recession in the world’s largest economy is easing.
The proportion of bearish newsletter writers dropped to 19.8 percent in the week ended yesterday from 23.1 percent in the period that ended Aug. 18, a survey by Investors Intelligence showed today. Bullish stock advisors climbed to 51.6 percent from 48.3 percent, reaching the highest reading since December 2007, the New Rochelle, New York-based firm said

French President squeals like little girl , "can't take it anymore!"

My headline may be a slight exaggeration, well, a complete fabrication is more like it. It is so much fun to make fun of the French. President Sarkizy did speak today and I thought he was provacative. Bloomberg has the article here ban I have this excerpt:

Sarkozy said that France, which has the second largest economy among countries using the euro behind Germany, won’t allow the European currency to bear the brunt of the necessary currency and trade adjustment.

The world must change to limit “excessive and profoundly destabilizing exchange rate fluctuations,” Sarkozy said in a speech today in Paris. “France won’t accept that the euro alone takes the weight of the adjustment, as it has in the past.”

In rather plain english he is saying the euro will not be allowed to get stronger. When presidents speak that plainly it pays to listen.

Jeff Saut's Weekly on the Market

“It takes a licking and keeps on ticking?!”
August 24, 2009

“It takes a licking and keeps on ticking” is a phrase lionized by pitchman John Cameron Swayze in the Timex watch commercials of an era gone by. Similarly, the same can be said about the current state of the stock market, as despite the Asian Angst, the overbought observations, the vitriolic violation of the 10-DMAs, and all the other negatives mentioned by the “bears,” we keep chanting “Cautious yes, bearish no.” Consider this: at the March 2009 “lows” the equity markets were at least three, and possibly four, standard deviations below norms.

august 21 Donald Coxe

Mr. Coxe on friday 21 2009

By the way My comments on  the Libyan murderer released by Scotland recently.  Scotland should be ashamed of itself.

Buffett on "The Greenback Effect"

NYTimes Warren Buffett on excessive dollar creation and the long term results.

IN nature, every action has consequences, a phenomenon called the butterfly effect. These consequences, moreover, are not necessarily proportional. For example, doubling the carbon dioxide we belch into the atmosphere may far more than double the subsequent problems for society. Realizing this, the world properly worries about greenhouse emissions.

The butterfly effect reaches into the financial world as well. Here, the United States is spewing a potentially damaging substance into our economy — greenback emissions.

Click on the NYTimes link above to read the whole thing.

Cap and Tax Bill"

From Bloomberg:

Climate Bill ‘Out of Control,’ Former Senator Says

Aug. 18 (Bloomberg) -- Cap-and-trade legislation to limit U.S. carbon dioxide emissions has “gotten out of control” and needs to be scaled back in Congress, said former Democratic Senator Timothy Wirth.

“The Republicans are right -- it’s a cap-and-tax bill,” Wirth, a climate-change negotiator during President Bill Clinton’s administration, said in an Aug. 14 interview. “That’s what it is because they are raising revenue to do all sorts of things, especially to take care of the coal industry, and it makes no sense.”

Good on Senator Wirth for speaking out.

Don Coxe for Aug 13 2009

Mr. Coxe

John Kerry confirms he is an idiot. (again)

Cantwell is no prize either.
Bloomberg:

Goldman Sachs Group Inc. and JPMorgan Chase & Co. would be barred from a planned U.S. carbon- emissions market or face trading restrictions under proposals by Democratic senators crafting climate change legislation.

Lawmakers seeking restrictions on carbon markets say speculators contributed to a rise in energy prices last year, when crude oil futures reached a record $147.27 a barrel.

‘No Derivatives, Swaps’

“There will be no derivatives, there will be no credit swaps,” said Senator John Kerry, a Massachusetts Democrat, in a July 29 speech at the National Press Club in Washington. “There will be a tighter regulatory control on this so that it will be impossible to play any of those kinds of games.”read it all here

So John these companies who need carbon credits, who do they buy them from? What is the sound of one hand bidding? My guess is the real plan is for free market trade and price discovery of carbon credit values to fail. Then they will have to be awarded by the politicians who would then have a rich new supply of supplicants and political donors.

I suggest they inject him with pig fat.

bloomberg:

Aug. 13 (Bloomberg) -- The Scottish government said it has yet to decide whether to release convicted Lockerbie bomber Abdel Basset Ali al-Megrahi, following media stories that he may be returned to Libya within days on compassionate grounds.

Reports on the possible release of al-Megrahi, who is dying from prostate cancer, are speculation, a government spokeswoman said today in a telephone interview. Justice Secretary Kenny MacAskill will make a decision after he has seen all the evidence, and that process continues, she said.

My suggestion is very publically inject him with pig fat till it puts him out of his misery. He is a murdering bastard and is not entitled to compassion or to draw another breath. I will give the injection if the Brits are too squeamish. He takes lives, we take eternity.

Janjuah predicts Rally ending and return to lows.

The Telegraph UK

RBS uber-bear issues fresh alert on global stock markets

Three-month slide could hit record lows, Royal Bank of Scotland chief credit strategist Bob Janjuah predicts.

Britain's Uber-bear is growling again. After predicting a torrid "relief rally" over the early summer, Bob Janjuah at Royal Bank of Scotland is advising clients to take profits in global equity and commodity markets and prepare for another storm as winter nears.

"We are now in the middle of a parabolic spike up," he said in his latest confidential note to clients.

The Boekh Investment Letter

China's Reflation Experiment :

Short Term Gain / Long Term Pain

Well Done Justin

This resulted from a Mom in Alabama asking her high school son to help with a commercial for the Tea Party she was involved in organizing

Boy, does it slam the message home. Very impressive. Here is her note: "I asked Justin if he could help me make a commercial for my group's Tea Party. He sat down at the laptop for about an hour, and then brought this to me and asked ' is this okay Mom?' After I finished watching it, my stomach was in my throat. Everyone that I have sent it to has really enjoyed it, so I wanted my friends to see it, I am so proud".

A very Powerful video, turn up the sound and sit back....!!!!

GUARANTEED GOOSE BUMPS.....

TeaPartyCommercial. wmv link to video

Individual Freedom in the United States is under attack from well meaning forces. These people have forgotten that the greatness of America is the protection of individual rights from the majority.

donald Coxe report from july 31

http://events.startcast.com/events6/122/C0018/Event.aspx

This is the call from july 31 the next call is aug 14. I will try to have this in a more timely manner.

Tony Boeckh : Available Again

Tony Boeckh wwas for many years the editor of the Bank Credit Analyst and i have never read any one better on the economy. he and his son now produce commentary at http://boeckhinvestmentletter.com/index.html. If you are an investor this is worth your time.

The "Health Plan" worse even than I feared.

The Obama health plan written by the far left of the democrat party is massively intrusive requiring enormous loss of privacy. A major foot in the door for the"we know what is best for you" crowd. Here is an article wwith a few hints of the problems.

5 freedoms you'd lose

in health care reform

If you read the fine print in the Congressional plans, you'll find that a lot of cherished aspects of the current system would disappear.

I suggest you read this article. This is by no means comprehensive but it does give one a taste of the intrusive nature of the plan. If this plan passes it will behoove most retirees with means to leave for a more favorable locale. There has never been a bigger power grab in American history.

Update: Three videos show that Obamacare is in trouble from HOT AIR