I'll try to do a post on Monday or so, on brackets, but frankly, I already anticipate to NOT do anything very detailed for two main reasons:
1. In kicking it around with you people over the past years, I've discovered that a lot of you already KNOW a lot of things about college hoops... So unlike the intracacies of the NFL (which I can write volumes on), my "hoops" commentary tends to be of the generic kind...
2. In doing a quick PREVIEW (of what I think my picks will be), I've discovered that I'm likely going with "CHALK" this year (meaning: unlike last year, most of who is SUPPOSED to advance deep, I think, will in fact run deep)...
So what I'll end up doing (probably Monday or Tuesday evening), is do a post with mt RULES of picking teams to make deep runs (then "plug in" the teams that fit that criteria)...
So to otherwise fill up this post for the rest of the weekend, I've decided to present you all with a few thoughts (to go along with some reading material)... Regardless of what your "personal" feelings are towards the subject, it is NO DOUBT a fascinating subject, that will, most likely, not only have a PROFOUND effect on all of our lives, but also reverberate for many years... (So I suppose it's hard NOT to be interested in something like that... I'll start out with some reading material (which I believe is about as good of a 360 view on the experience, as any)... As always, the reader can draw their own conclusions...
Dying of Money
Lessons of the Great German and American Inflations
Jens O. Parsson
(1974)
Give me some credit for presenting this material on a WEEKEND... I realize that when I get in to this debate in the middle of a daily thread, some of you think that it clutters up the focus of "tick for tick" trading (and you're probably right about that)... So my effort here is to present the thoughts UNENCUMBERED by that distraction... Therefore, if you want to read about this, or offer opinions & add anecdotal evidence, here's your chance (as the last time I checked, the markets were closed - for maintenance - I hear because it seems that the computer cards SHUT DOWN every time a large volume sell-off invades the order channels)... OTOH - If you have NO OPINION on the subject (or think it's not relative to either your trading or everyday lives [both present & future]), well, then here's your Miranda warning (right to remain silent)...
To frame this subject... I'd prefer NOT to call it an INFLATION vs. DEFLATION debate (whether with regards to money supply theory OR "prices")... The simple reason is because they both come to the same ENDPOINT at some undetermined point in the future... That is why I think the title of the linked article "THE DYING OF MONEY" is appropriate (because in the end, you either kill it, or it kills you)...
All anybody probably needs to know is the ROAD that is traveled between here and there...
In considering the historic paths of these events, it appears to me that the following "psychologies" are probably important in determining the WILL OF THE PEOPLE to suffer one form of money collapse or another...
1. Sheer amount of monetary DEBT in the system (let's call that "a quadrillion dollars" in the present dollar denominated, dollar considered as reserve currency)
2. The EXPERIENCE your culture has in having dealt with one form of crisis or another (vis-a-vis the "boogeyman to Germans, perhaps is hyperinflation due to Weimar; whereas Americans have been schooled to think deflation/Depression are things to be avoided at all costs [well - that flash of electricity probably ignites somewhere in the brain for a millisecond somewhere in the flash time period for NCAA game to go to a commerical for Doritos & when the next awards show featuring Justin Beaver is going to air]...
In any case, my point is (metaphorically speaking), If you build your hime in a flood zone, and a flood comes and wipes you out, then the next time you might say "Hey - I'll take my chances with an EARTHQUAKE" (of course then an earthquake comes and sends tsunami waves crashing over your property so you die in a flood anyway - I'm not trying to be "funny" there in light of what's happening in Japan - just pointing out the ultimate tragic-comedy of our piddly human existence).
3. Political Will... YES political will... Not that politicians really "control" anything, but in a country like Amerika, we can toss an entire branch of government out on their asses every two years if we want... & we can blow the entire system up every 4 years... This is "whack a mole" at it's finest (which is an important criteria if you consider the WILL of a population to actually address the situation that ails them)... I've come to the conclusion that Americans have ZERO WILL... You could call it the "MTV Culture" (but that would make it sound like I was singling out a generation - which I'm not)... I'm referring more to the "I want it all & I want it now" mentality (of Americans)...
4. Promises... This is going to bleed in to #3 above 9and perhaps is one of the most important elements in the overall determination of what PATH will be chosen... Promises have to do with "populism"... IOW - the more people that are alive that have been PROMISED something (a "money" something, like payouts, benefits, etc.), the more HEADS there are to be considered who will be disaffected by the collapse of money... These people have a VESTED interested in keeping that money coming to them...
Each one of them have a VOTE (so in the 2 and 4 year cycles, as described in #3 - they will VOTE to keep their benefits... Even if they realize that by doing so, they are, in essence, looting the national treasury at the expense of other people)... People want to criticize BANKERS for acting in their own interests and operating in a way that only benefits themselves (and that is TRUE)... But it is also true for all government workers (who essentially PAY NO TAX - because their very jobs EXIST BECAUSE OF A TAXPAYER BASE... Moreover - the government [their employer] exists in a world that has NO COMPETITION... Jobs are simply conjured into existence and the money to pay for those jobs essentially comes from the private (producing) sector... Theoretically - If you eliminate all government jobs, then the government workers would have to go out there and compete with the rest... I don't want to make too much out of that because MY POINT isn't to eliminate government jobs... Rather, it's to illustrate th economic distinction, and more precisely, to underscore the possible ATTITUDE that people who are earning a salary and benefits are biased & likely to use their VOTE in a way that benefits THEMSELVES rather than others...
If anyone thinks they are operating for the "good of humanity" they are probably delusional (even though it's good coffee table talk & the fodder of certain blog efforts)...
5. Public vs. private Debt... I'm tossing this out there because this (to me) appears to be a relatively new phenomenon... Actually, there are probably numerous examples throughout history (and I welcome someone to research that and point it out to me)... But I'm referring to this within the context of my own lifetime... So FOR ME (this is new)... I grew up in a world where until I was about 20, hardly anyone really used credit (save for a home mortgage, which you were required to put 20% down on)... Skipping ahead, that was all PRIVATE DEBT... In the, post 2008, "Obama/Peggy Joseph/Obama's gonna pay my gas & mortgage", change the accounting rules, QEx, world, it's apparent to me that the very concept of DEBT has become SOCIALIZED... IOW... There's really no problem anymore in racking up debt because somebody will come in and bail you out...
All the RAGE against BANKERS (after 2008 - which morphed into "tea partiers" gaining a voice in 2010), I think has been mis-interpreted... Sure, people are ANGRY at bankers... But if they were TRULY angry at the bankers, Wall St. would be up in flames by now... All the people REALLY want is a bone for themselves to chew on... So in PRACTICE, people have to give THEMSELVES a bailout...
This inevitably starts a feedback loop... People debt DEFAULTS, bad for banks, government "socializes" the debt by providing the banks with liquidity... It all just gets added to the national ledger... So people can exist for a long time under this feedback loop, because all they really worry about is their monthly nut (and they actually perceive the government as HELPING in this respect)...
6. Central Banking Policy... Look - This subject is waaaaaaaaaaaay down here #6... It is to underscore the notion that central banks DON'T CAUSE the money collapse (instead - they, like everything else, are just part of the process)...
At issue here is the notion of how the central bank acts in concert with all the elements above... Under the current system (to synthesize), we:
- Are a "culture" whose boogeyman is deflation/depression (read: avoid that at all costs)
- Have a system of politics where the "decision making politicians on budget issues" [USHOR] can get shuffled in and out every 2 years
- Having a GROWING polulation of citizens who rely on entitlements or social welfare to survive
- Have an "attitude" & willingness towards private DEFAULT (based on the 2008 experience)
- Have a system of BANKERS who encourage the politicians to simply SOCIALIZE the private debt and simply "run up the tab"
I'd construe that to be a society who have NOT chosen the AUSTERITY path to redemption... I'm not CERTAIN of that (but that's where I'm placing my bets)...
Logically, one should consider that hardly anything (almost "nothing", in fact) goes in a straight line... This is why I found the article linked earlier in this post so fascinating... Especially the PROLOGUE section of the depictions of Weimar Germany... In a nutshell, basically a 9 year period where "all appeared well" for much of it, only to suffer a catastrophic collapse in only a few short months (which then, was miraculously "cured" practically overnight)...
The thing that keeps ringing in my head is the following notion:
1. In a DEFLATIONARY COLLAPSE the "bankers" lose...
2. In a HYPERINFLATION, the banks don't necessarily lose (Fed 2.0, coming in 2013?)... It is possible for certain individuals, groups, or industries to survive the episode and emerge at the other end... It is even possible for a system of entitlements to be re-booted ["New" New Deal or New Deal 2.0? - Confiscate all those 401ks and call them your patriotic "war bond" contribution to your Great Society - eh hell! we'll go ahead and start a war with some yellow or brown skinned people to REALLY drive home the point - Or, we'll turn up the HAARP antennaes and shake up the New Madrid Fault line]...
This is a "Nickleodeon" (huh huh, he said NICKLE) summary, but:
DEFLATION probably ultimately leads to war, a serious setback in progress, the end of the banking cartels, and the end of an era of GOVERNMENT being able to make a lot of "promises" to its people.
HYPERINFLATION leads to lifelong savers getting wiped out, but then the entire system basically gets RE-SET, and all those who were IN POWER before (or MOST of them), basically get to retain their power...
While it is abbhorrent to think that the MISDEEDS of a few should go unpunished, I've frankly resigned myself to the idea that that's the path we've chosen... NOT because they shouldn't be or nobody wants them to be, but instead because nowadays people are more willing to accept the "substitute" of getting something for themselves in the process...
It's an argument of "ants" versus "grasshoppers" (or LOCUSTS might be more appropriate definition)...
In a democratic society... The GRASSHOPPER party (notwithstanding a handful of "paper tea partiers") has more votes at the moment (and frankly - I think most politicians & central bankers are quite pleased about that)...
61 comments:
I think this comment (from ahab - on yesterday's thread) speaks volumes of what is written above...
call me ahab said...
pretty interesting that Armageddon appears to be upon us-
but alas- folks line up to buy an iPad2?
as if you couldn't sit and reflect- maybe a few days possibly- before you venture forth to purchase a new toy?
and then we have fools from the Fed saying- food prices- WHO CARES!!!- you can get an iPad2 at the same price as an iPad1!
as b22 said- maybe the new take on Marie Antoinette is "let them play on their iPads"
March 11, 2011 9:49 PM
http://www.cnbc.com/id/41969508
"Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data.
“The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.”
I think I will vote that the entire thing collapses in the end game. If I had to make a guess, I suppose GDII rather than some sort of German hyperinflationary result...
Perhaps Berlin,and not Tokyo would be nice next year?
@Bruce
I think it's still completely up in the air...
But my read on the SUBCONSCIOUS elements (as illustrated above), are that there are more GRASSHOPPERS than ANTS...
...& Bruce... My "subconscious reading skills" are predicated on a lifetime (more than 30 years) of coming face to face with literally tens of thousands of people who look you straight in the eye and outwardly profess that they want to lose weight & get fit...
If that were TRULY the case, I'd have been unemployed many decades ago because my SERVICES would not be required...
Either that, or I'm a COLLOSSAL failure at my job... (unfortunately - my job is LIMITED to one hour per week "face to face" time)...
I can't account for the "other" 167 hours of the week...
CV:
I work 28 hours a week now. Monday-Thursday. Lots of work when I am in the mine. Unadultered childhood pleasure when I am not. I thank my lucky stars that when I was younger I chose a career path that was difficult, but not too difficult for me. However med school is populated by some very very smart sob's whose only desire is to graduate. But now that I'm in my 50's, I am leading the life of Riley.
CV...I think it only takes one two notch downgrade by S&P of our treasury debt, and we start on the deflationary bust. But that's what makes this particular ballgame so interesting, every day it is like the tech bubble, I want to read the economic news and get my new lead off first....of course the first thing you watch is the near shoulder of the pitcher if you are going to steal, and I keep looking at the shoulder every single day..
We are taking people into the mountains in about an hour, I will say theat the new republicans in the house have been a disappointment. I am a fiscal conservative...period. I don't believe the Keynes nonsense that governments will act in reality they way Keynes postulated, that they will pay off government debt in good times. So we are digging our hole now, not with a shovel, but now with power tools.
...Try to protect your families..although I am an optimist, I think our government debt is a cause for much pessimism...
@Bruce
I see it as:
TRIANGLES as far as the eye can see...
Since QE2 (or, forget that, since S&P 1000 last July), all we've had are "mini triangles" on a 35% run up - that has lasted 8 months in duration)...
If 2/18 was the top, then you have a LARGER theoretical triangle about to form (the bottom line will be the 2009 lows thru the 2010 lows on the S&P)... Draw it yourself...
Assuming we stay within the boundaries of that LARGER TRIANGLE (which we could easily do for the next 5 months - up and down)... The APEX of that triangle would expire around August of this year... In which it would take a more decided path...
I believe the "breakout" of that TRIANGLE (which doesn't exist yet), will be determined by the announcement (or not of QE3)...
Frankly, I think that the revolutions in MENA and the earthquakes & tsunamis will be used as the "snow days" to justify a QE3...
This would likely result in the S&P being able to extend it's Wil E Coyote act (but not necessarily much HIGHER, just longer)... I suppose the wavers would describe it as triple zig zags or something... and even if no TRIPLE ZIG ZAGS were appearing in the current counts, something would happen to MAKE them appear...
That's the thing with EWI... You can always re-label the counts if they prove to be wrong...
Anyway... The TIME factor is what's critical here...
Why?
Because a pattern as I've described above buys enough time to put you into to another election cycle...
It further puts us into the year 2012...
I have this theory in the back of my head that the 2012 phenomenon is going to play out a lot like the Y2K thing (I've felt this way for a long time)...
It's a 'doomsdayers' paradise... So the LAST thing, IMO, in terms of political & populist will is going to be people choosing AUSTERITY...
Instead - I think they'd rather Party Like it's 1999...
But that's why it's a market. Everyone is free to place their bets accordingly...
...and Bruce
If one were to say that you lean towards "fiscal conservatism"... Well - while thats inherently NOBLE... if you wanted to create A MARKET and call the trade positions of that market...
a) Fiscal conservatives (you)
b) People who just don't give a FF (Peggy Joseph)
I'm thinking there are MORE Peggy Josephs there... WORSE - there are bankers & politicians who HATE you (and LOVE Peggy Joseph)...
So as ben & I-man like to eloquently (& correctly) illustrate...
"Let the market decide - because THE MARKET doesn't give a FF about you and your thoughts going in to the trade... But it will CERTAINLY let you know if you made the right trade or not"...
...so the ultimate question is...
"Got hedges & stop losses in place"?
http://www.bbc.co.uk/news/world-asia-pacific-12720219
Ever wanted to watch a nuke explode?
Actually a containment building.
foghorn
http://www.youtube.com/user/thebarcaroller
Updated today.
Buckle up Japan and Baja.
foghorn
hey all! quick note... i don't think this is good : (
Japanese officials warn of meltdown at quake-hit nuclear plant
03/12/2011 12:40:41 AM
atlantis found??
http://www.reuters.com/article/2011/03/12/us-tsunami-atlantis-idUSTRE72B2JR20110312
watching the barcaroller.. thanks foghorn..
Be careful
Heard there was a 5 in Baja already.
foghorn
nothing big currently: http://earthquake.usgs.gov/earthquakes/recenteqscanv/
Japanese authorities widen evacuation area to 12 miles around stricken Fukushima nuke power plant http://bit.ly/hyHeq0
http://www.world-nuclear-news.org/RS_Battle_to_stabilise_earthquake_reactors_1203111.html
Detailed explanation of nuke situation.
foghorn
http://earthquake.usgs.gov/earthquakes/recenteqsww/
for those interested in 2x-checking, via the USGS, what they 'hear' vis a vis 'Quakes'..
AAIP
Magnitude 5.3 - GULF OF CALIFORNIA
2011 March 12 14:11:04 UTC
http://earthquake.usgs.gov/earthquakes/recenteqsww/Quakes/usc00020qw.php
Thanks Hoffer
foghorn
foghorn,
de nada~
ibid.
So what is your take on the Japan situation, re nukes?
Looks like they are on the verge of meltdown to me.
Not good at any rate.
foghorn
http://e.nikkei.com/e/fr/tnks/Nni20110312D12JF421.htm
==========================================
Nuclear Authorities: Nuclear Reactor Facing Threat Of Meltdown
TOKYO (Dow Jones)--Japanese nuclear authorities said Saturday afternoon the Fukushima Daiichi No. 1 nuclear reactor was experiencing the threat of a meltdown after Friday's massive earthquake damaged the cooling system and that outside water was being poured into the reactor to cool it down.
"If the water level remains at this level, the reactor core might be damaged, but we are now pouring water into the reactor to prevent it from happening," a spokesman for Tokyo Electric Power Co. (9501) told Dow Jones Newswires. TEPCO is the owner of the plant, which is located 150 miles, or 240 kilometers, away from Tokyo.
A portion of the reactor's fuel rods, which create heat through a nuclear reaction, have become exposed due to the cooling-system failure. The spokesman for TEPCO said 1.5 meters of the 4.5 meter long fuel rods were potentially exposed.
Loss of cooling water resulted in a near meltdown of the Three Mile Island reactor in Pennsylvania in 1979, the worst nuclear incident in U.S. history.
If coolant isn't restored, extreme heat can melt through the reactor vessel and result in a radioactive release. Reactors have containment domes to catch any release. But there is always the chance that an earthquake could create cracks or other breaches in that containment system....
foghorn
foghorn,
seems a 'sticky wicket'..
personally, I'm having a hard time understanding how their Auxillary Power Supply 'redundancies' could be so "thin"/'nonexistant'..
ibid.
http://www.ustream.tv/channel/tbstv
Live feed from Japan
foghorn
8 hours of battery backup??? WTF
The PBX systems I USED to install, had to have a minimum of 48 hours.
foghorn
From the clip and save department.
===========================
Engineer: Local nuke plant built to withstand tsunamis
SAN ONOFRE, Calif. -- Engineers at the San Onofre Nuclear Generating Station at the north end of San Diego County said Friday that the reactor is designed with protections against tsunamis.
Chris Able of Southern California Edison, which manages the nuclear plant near Camp Pendleton, said his team was monitoring the Japanese nuclear power plant damaged by the massive earthquake in that country to learn any lessons that might be applicable here. He said it wasn't immediately known whether the damaged facility at Onagawa, in northern Japan, was similar in design to San Onofre.
Officials in Japan were reportedly evacuating residents near the Onagawa plant so they can release vapor described as slightly radioactive. A fire at the plant was extinguished, but temperatures inside the facility increased because the cooling system was inoperative, according to reports.
According to Able, the Nuclear Regulatory Commission requires facilities like San Onofre to be built to withstand earthquakes with a magnitude of 7 centered within five miles. The quake in Japan was magnitude 8.9.
=========================================
Sounds like they certainly over-engineered this puppy.
A 7, wow, impressive. NOT.
foghorn
foghorn.. san onofre is approximately 3 miles from me.. after 9-11, thyroid pills were mailed to residents in case of a radiation leak..
3 miles, eh.
Comanche Peak is about 200 miles from me.
At least we'll have a nice glowing sun tan.
foghorn
k-
don't know what 'thyroid' pills are, but, this is what you want to have around..
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=potassium+iodide
in the event..
ibid.
http://www.angelfire.com/extreme4/kiddofspeed/highres/highres.html
==============================
This is Chernobyl from a young Russian ladys' perspective.
She rides around on her Kawa Ninja and takes pictures.
Poke around, pretty different.
foghorn
Mark.. those are the pills i meant.. they protect your thyroid..
Foghorn! been to that site in the past! thank you for reminder.
the potassium iodide, from my understanding, is correct...
Also, from my understanding, just going from a 7.0 to an 8.0... The POWER force of the tremor increases 1000x fold...
I haven't calculated the "upgrade"... But the math tells me that an 8.9 would be about 30,000x stronger than a 7...
So... Nice to know those "San Onofre" boys were planning in your best interests...
They must all have PhD's like the Bernank...
I'll contribute to deflation by greenlighting my wife's purchase of an iPad2.
You're welcome, Dudley. (You turd!)
>> According to Able, the Nuclear Regulatory Commission requires facilities like San Onofre to be built to withstand earthquakes with a magnitude of 7 centered within five miles. The quake in Japan was magnitude 8.9.
Sheesh. Overregulation, dammit!
A free market would simply issue CDS's to cover the potential damage.
(I consider the foregoing a bit of a "cheap-shot", by the way. A truly "free" market -- er, well, a *transparent* free market -- might very well demand real reserves and price the CDS's quite expensively.)
thought this was interesting..
http://saladin-avoiceinthewilderness.blogspot.com/2011/03/perfect-storm-of-gmos-chemicals-and.html
a little long, but..
AAIP
http://metanoia-films.org/compilations.php
might be worth checking out..
ibid.
NOAA finds”climate change” blameless in 2010 Russian heat wave
Posted on March 9, 2011 by Anthony Watts
We mentioned this previously on WUWT, now it is officially peer reviewed and accepted. Maybe this will be a lesson to those in the MSM and eco blogland who immediately jump on every newsworthy weather event, and with no supporting evidence, attribute it to “global warming”, “climate change”, or “climate disruption” or whatever the marketing phrase of the day is. The factual science is in, and the answer that we knew all along? To paraphrase James Carville; It’s the weather, not climate, stupid.
NOAA: Natural Variability Main Culprit of Deadly Russian Heat Wave That Killed Thousands
Source here
http://wattsupwiththat.com/2011/03/09/noaa-findsclimate-change-blameless-in-2010-russian-heat-wave/
Hmmm, so the NOAA is not credible when it produces all kinds of evidence that supports climage change, but it is credible when it says that natural variability was the cause of the Russian heat wave?
Actually, it is a fair point to say that blaming AGW for every hot spell everywhere is bogus. I wish the WUWT afficionados would also accept that it can get cold and snow in the winter time, and that doesn't debunk AGW.
AGW = Al Quida
When has the planet/climate ever stopped changing?
Answer that anon and we can continue.
foghorn
A study of this inter-web has concluded that 99.9% of anon posters are dipshits.
foghorn
foghorn,
interesting comparison of AGW and Al CIAda..
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Al+CIAda
"Less Bread? More Circus!"
AAIP
SENDAI, Japan (AP) -- The estimated death toll from Japan's disasters climbed past 10,000 Sunday as authorities raced to combat the threat of multiple nuclear reactor meltdowns and hundreds of thousands of people struggled to find food and water. The prime minister said it was the nation's worst crisis since World War II.
http://finance.yahoo.com/news/10K-dead-in-Japan-amid-fears-apf-3021995685.html?x=0
Barron's this week: The Money Whirl
http://online.barrons.com/article/SB50001424052970203523604576188523748243348.html
BofA Shares Could Rise 40%
By JACQUELINE DOHERTY | MORE ARTICLES BY AUTHOR
Bank of America could earn more than $2 a share in coming years as its credit portfolio improves and its share count shrinks. That could lead to a sweet payday for investors.
http://online.barrons.com/article/SB50001424052970203954104576192400636640030.html?mod=BOL_article_full_popview
btw, that BofA article was Barron's most viewed and second most emailed..
http://www.bloomberg.com/news/2011-03-11/germany-france-said-to-fight-basel-rules-forcing-banks-to-reveal-leverage.html
k-
given this: "...A member of the hacker collective Anonymous, which singlehandedly destroyed "hacker defense" firm HB Gary, who goes under the handle OperationLeakS "is claiming to be have emails and documents which prove "fraud" was committed by Bank of America employees, and the group says it'll release them on Monday" reports Gawker. As to the contents of the possible disclosure: ""He Just told me he have GMAC emails showing BoA order to mix loan numbers to not match it's Documents. to foreclose on Americans.. Shame." If indeed this makes the case against BofA' foreclosure practices stronger, it certainly explains why the banking consortium is scrambling to arrange a settlement, and also why Bank of America recently split off its $2 trillion in mortgages into "good bank" and "bad bank" entities.
As a "teaser", the Anonymous member released a November 1, 2010 email between two Balboa Insurance (a BAC subsidiary) employees, which while not proving any fraud, indicates he/she does indeed have access. The timeline on the email makes sense as it is a few weeks prior to the original disclosure that Wikileaks would expose BofA. Perhaps the Assange team merely handed off its materials to Anonymous, which has previously demonstrated its solidarity with the Australian on various occasions.
The full letter is below..."
http://www.zerohedge.com/article/hacker-collective-anonymous-release-documents-proving-bank-america-committed-fraud-monday
an interesting 'tug-of-war', in BAC, may be about to be observed..
AAIP
also, this list..
http://earthquake.usgs.gov/earthquakes/recenteqsww/Maps/region/Asia_eqs.php
the # of 'aftershocks', esp. the # of them, over 6, is, really, amazing..
ibid.
Wikileaks row: US spokesman Crowley quits over gaffe
Mr Crowley later added that his remarks were his own opinion
US state department spokesman PJ Crowley has resigned after calling the treatment of the man accused of leaking secret cables to Wikileaks "stupid".
http://www.bbc.co.uk/news/world-us-canada-12728315
I wouldn't call it a gaffe..
Private Manning is being held in solitary confinement at a maximum security US military jail.
He is shackled at all times and has been on suicide watch at the Quantico marine base in Virginia.
I had no idea this was happening!
http://stockmarketnews.resumit.com/united-states-stockmarket-news/new-jersey-floodwaters-crest-2000-homes-evacuated/
Floods, fires, earthquakes.
It's getting interesting now.
Forget the popcorn,
Got Wheat?
foghorn
Key Factors Heading into the week:
http://www.youtube.com/watch?v=dobTimv38Lk
This link is the scariest yet for me:
http://www.abc.net.au/news/events/japan-quake-2011/beforeafter.htm
and back on the subject of money: Personal Finance for Dictators: Where to Stash the Cash
http://www.nytimes.com/2011/03/13/weekinreview/13cash.html
http://www.zerohedge.com/article/look-known-economic-events-upcoming-week
Japan brings money home to rebuild
Shaken by the prospect of nuclear meltdown after a devastating earthquake and tsunami, Japanese investors will dump overseas assets on Monday and bring their money home to help finance reconstruction.
Positioning for this could send the dollar plummeting versus the yen on Monday and lead to a sharp slide in Treasuries since U.S. government bonds are a favorite asset of Japanese investors, m
http://www.reuters.com/article/2011/03/13/us-markets-weekahead-idUSTRE72A31H20110313
USD/JPY Turning Lower
By Sean Lee || March 13, 2011 at 20:55 GMT
As Jamie has mentioned on a few occasions, USD/JPY could be in for a big fight over the next few days. Insurance losses are being estimated at $35 billion and the situation, especially with regard to the nuclear power plants, remains very dangerous.
We believe there is an option play at 81.50 with heavy bids just above and large stops below and the same applies at 81.00. The pair is currently trading at 81.70.
The whole Nikei/SP500 comparisons have been interesting to study on Friday. The Yen may do ok, but the the comparisons to the Kobe quake suggest that the Japanese stock market is going to struggle a bit relative to the US.
New Thread Up...FWIW.
something tells me that, while the JPY may show, initial, strength, it will not be sustained (v. the U$D)
primarily, b/c they, still, have 'Exporters'(now, and longer run) to be concerned with..
AAIP
Post a Comment