Marc Faber is the man, you should pay attention! Bounce time!
Saturday, 29 November 2008
Sunday, 23 November 2008
for sure this is the case ` Kev.
As Managing Director and Head of Technical Research for Smith Barney, Louise Yamada was a perennial leader in the Institutional Investor poll, and was the top-ranked market technician in 2001, 2002, 2003 and 2004. Our technical analysis team has been together for up to 24 years and includes Senior Analyst Jonathan Lin and Analysts Lori Altenburger and Noreen Lennon.
Note: Effective June 4, 2008, former LYA analyst Ron Daino is no longer affiliated with the company
Friday, 21 November 2008
Tuesday, 18 November 2008
Monday, 17 November 2008
The state is back as a major economic player. The current financial crisis has prompted a tsunami of government intervention in rich world financial markets: from regulatory bans on short-selling though to massive public sector bailouts, loan and deposit guarantees, and a series of increasingly dramatic nationalizations.
The severity of the crisis has undermined the reputation of Wall Street and left global financial capitalism as a badly tarnished brand.
Meanwhile, the shifting geography of international economic and financial power means that a series of state-controlled actors - including Sovereign Wealth Funds, State-Owned Banks and State-Owned Enterprises, and National Oil Companies - have become important players on the world economic stage.
Mark Thirlwell looks at the resumed battle for the Commanding Heights of the world economy, and asks whether the apparent victory for the free market secured in the 1980s and 1990s is now about to be overturned in favor of the state - The Lowy Institute for International Policy
Wednesday, 12 November 2008
Mr Brown will call on fellow world leaders to use the current worldwide economic downturn as an opportunity to thoroughly reform international financial institutions and create a new "truly global society" with Britain, the US and Europe providing leadership.
His call comes ahead of an emergency summit of world leaders and finance ministers from 20 major countries, the G20, in Washington next weekend.
Mr Brown will say that the Washington meeting must establish a consensus on a new Bretton Woods-style framework for the international financial system, featuring a reformed International Monetary Fund which will act as a global early-warning system for financial problems.
The original Bretton Woods agreements, signed in Bretton Woods, New Hampshire in 1944, established post-war international monetary protocols governing trade, banking and other financial relations among nations, including fixed exchange rates and the IMF.
Mr Brown's plan for strengthening the global economy 60 years later involves recapitalisation of banks to permit the resumption of normal lending to households and businesses, better international co-ordination of fiscal and monetary policy and a new IMF fund to help struggling economies and stop financial problems spreading between nations.
He also wants agreement on a world trade deal and reform of the international financial system based on principles of "transparency, integrity, responsibility, sound banking practice and global governance with co-ordination across borders".
As Britain moves into a painful recession Mr Brown has staked his own leadership on helping to find a way out of the global crisis.
In a speech to City financiers at the annual Lord Mayor's banquet in London he will say: "The British Government will begin to begin a new Bretton Woods with a new IMF that offers, by its surveillance of every economy, an early warning system and a crisis prevention mechanism for the whole world.
"The alliance between Britain and the US, and more broadly between Europe and the US, can and must provide leadership, not in order to make the rules ourselves, but to lead the global effort to build a stronger and more just international order.
"My message is that we must be internationalist not protectionist, interventionist not neutral, progressive not reactive and forward-looking not frozen by events. We can seize the moment and in doing so build a truly global society."
Mr Brown has already discussed IMF reforms with French President Nicolas Sarkozy and German Chancellor Angela Merkel and has called on countries including China and the oil-rich Gulf states to fund the bulk of an increase in the IMF's bailout pot.
The Prime Minister wants the markets to be subjected to morality and ordinary people's interests are put first.
He believes that in electing Barack Obama, US voters have showed their belief in a "progressive" agenda of government intervention to help families and businesses through the current crisis.
He will say: "Uniquely in this global age, it is now in our power to come together so that 2008 is remembered not just for the failure of a financial crash that engulfed the world but for the resilience and optimism with which we faced the storm, endured it and prevailed."
However, the head of the IMF played down expectations of a new Bretton Woods system ahead of the G20 summit.
Dominique Strauss-Kahn, the IMF's managing director, said: "Expectations should not be oversold. Things are not going to change overnight. Bretton Woods took two years to prepare. A lot of people are talking about Bretton Woods II. The words sound nice but we are not going to create a new international treaty."
The European Union has called for an overhaul of the IMF with French President Nicolas Sarkozy, whose country holds the EU's rotating presidency, saying: "We want to change the rules of the game".
The US, however, has been more lukewarm on the possibility of radical change.
The United States may be on course to lose its 'AAA' rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.
"The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system" and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.
"In the United States there is already a funding crisis, and they will have to sell a lot more bonds next year to fund the bailout packages that have already been signed off," Hennecke told CNBC.
In order to solve or stem the economic slowdown, Hennecke suggested the US would have to radically reduce spending across all sectors and recall all its troops from around the world.
As for a stimulus package, there is not much of an industry left to stimulate back into life, Hennecke said.
Monday, 10 November 2008
Sunday, 9 November 2008
I don't agree with Peter, its hard to see how Obama could be more socialist that Bush and Paulson. There is a bigger problem.
Maybe the problem in America is there is no struggle about the fundamental mechanisms of American oppression and aggression: debt and threat.
American policies promote debt and force as the hammer and anvil for shaping the economy and the political dialogue. What cannot be financed into penury must be crushed into submission. The bulk of the economy is designed to prosper either the bankers or the police/prison/military/intelligence industries at everyone else’s expense. Propped up on these twin pillars of debt and threat, America remains staunchly and irrevocably American whoever wins the elections.
Has fiscal prudence been swiftly repudiated post-election in favour of more debt-financed “stimulus” and “stabilisation”. Time will tell.