“No country facing enormous budget deficits, rapid growth in the money supply and the prospect of a sustained currency devaluation as we are has ever experienced deflation. These factors are harbingers of inflation.” Allan H. Meltzer, May 3rd 2009 In Allan Meltzer’s excellent New York Times op-ed piece from May 3rd, we are taken back…
Brokers Selling Pretzels…WTF?
Chicago finally got it’s very own Madoff. His name is Charles Mosley and along with his partner Eric Bloom, he’s been a bad boy. But this guy’s not an outright thief, he’s more like a reckless moron… From Bloomberg: As Sentinel Management Group Inc. neared collapse in August 2007, piling up $950 million in losses..(the…
Market Recap: Godspeed, Dom DeLuise
[youtube=http://www.youtube.com/watch?v=hDx2Mr4XxkQ] The Reformed Broker, AKA Captain Chaos, here with today’s Market Recap… As Eighties Babies across the country said goodbye to actor Dom DeLuise, the markets said goodbye to the multi-day massive rally today. Longs took profits in several key sectors, even as Fed Head Ben Bernanke testified to Congress that signs of stability are…
Tax Evasion Central Cutting PaineWebber Brokers
How does a big Swiss bank built on stolen Nazi gold, hidden money from African and Middle Eastern despots and un-taxed lucre from wealthy Americans with cross-border connections react to yet another multi-billion dollar quarterly loss? That’s easy! It fires stockbrokers. From the Financial Times: 2,500 will go in wealth management Americas, the former PaineWebber…
Close the Book on Barnes & Noble, Kindle's Here
[vodpod id=Groupvideo.2472318&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] Amazon’s Kindle is about to light Barnes and Noble on fire and stomp on the ashes. Yeah, I said it. What. I’ve been a big reader all my life. In fact, I go through books like Mary Kate Olsen goes through pills, and if I can help it, I’ll go to Barnes…
Dulling the Impact of the Stress Tests
an·ti·cli·max: Something trivial or commonplace that concludes a series of significant events This is not a discussion of whether or not the upcoming 19-bank stress test results are important or whether or not they should have been conducted in the first place. Instead, the subject I’ll pontificate on here is the masterful dissemination of the potentially disruptive…
Droppin' Knowledge: Ron Baron
“this is the most attractive time to be an investor in my lifetime” – Ron Baron, May 2009 If you read pages 30 to 31 in Barron’s this weekend, then you, my friend, were Carpet-Bombed with Knowledge from one of the most interesting minds on The Street. Ron Baron, a 40-year market veteran with over…
Market Recap: High as a Kite
The Reformed Broker, AKA Georgie Jung, here with today’s Market Recap… Fundamentals be damned, US markets took the ball from the up overseas bourses and ran with it. The rally started at the open and anything China-related was once again, high as a kite. Copper, shippers, steels, coals…if it gets shipped to The Big C,…
Things To Do Instead Of Attending Your Neighbor's Tea Party Rally
Tea Party The Tea Party movement has been spared my ridicule thus far…Until now. I caught a Fox News town hall-esque State of the Tea Party program hosted by Glenn Beck this weekend and my abdominal muscles ached from all the cringing this broadcast induced. This was a nationally-televised moron-a-thon in the round. Its not…
How Not To Conduct PR by Rob Six of Fiji Water
I drink Fiji Water. Its pretty good, usually my second choice after Poland Spring. And if there’s only Evian available, I’ll kindly ask the shopkeeper to spit into the palm of my hand, as that would be more refreshing than the French bottled water with the aftertaste (I don’t think Intelligent Design or evolution was…
