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Major newspapers running rumors of U.S. attack on Iran
2010-03-16 08:52:00
Is war just around the corner? While in theory it would make perfect sense to distract Americans from the long road to US insolvency, and other more pressing issues such as the endless criminality all around us, in practice we have so far heard merely rumors.The Herald of Scotland, however, may have credible proof that a US-led attack on Iran approaches and could be just days away. The newspaper has procured proof of an arms shipment to Diego Garcia, which consists of "of 195 smart, guided, Blu-110 bombs and 192 massive 2000lb Blu-117 bombs...put in place for an assault on Iran’s controversial nuclear facilities."Additional insight comes from Dan Plesch, director of the Centre for International Studies and Diplomacy at the University of London: “They are gearing up totally for the des
2010-03-16 08:52:00
Is war just around the corner? While in theory it would make perfect sense to distract Americans from the long road to US insolvency, and other more pressing issues such as the endless criminality all around us, in practice we have so far heard merely rumors.The Herald of Scotland, however, may have credible proof that a US-led attack on Iran approaches and could be just days away. The newspaper has procured proof of an arms shipment to Diego Garcia, which consists of "of 195 smart, guided, Blu-110 bombs and 192 massive 2000lb Blu-117 bombs...put in place for an assault on Iran’s controversial nuclear facilities."Additional insight comes from Dan Plesch, director of the Centre for International Studies and Diplomacy at the University of London: “They are gearing up totally for the des
Porter Stansberry: The easiest way to track inflation
2010-03-15 19:52:00
How can you track the risk of significantly higher inflation?Simple. Just follow the government long-bond market. If the market gets a whiff of double-digit, or even high single-digit, annual inflation, the U.S. bond market will collapse.There's an ETF that makes it easy to follow the U.S. long bond market – TLT.Here's the chart:What you can see is that the government long-bond market peaked at the height of the banking crisis, just after the failure of Lehman Brothers, the near collapse of all of the investment banks, and the bankruptcy of Fannie, Freddie, and GM. Investors were scared to own anything other than government paper. Nobody was worried about inflation because the economy had come to a standstill.Now, all of those forces are working in reverse – and Washington is pulling a
2010-03-15 19:52:00
How can you track the risk of significantly higher inflation?Simple. Just follow the government long-bond market. If the market gets a whiff of double-digit, or even high single-digit, annual inflation, the U.S. bond market will collapse.There's an ETF that makes it easy to follow the U.S. long bond market – TLT.Here's the chart:What you can see is that the government long-bond market peaked at the height of the banking crisis, just after the failure of Lehman Brothers, the near collapse of all of the investment banks, and the bankruptcy of Fannie, Freddie, and GM. Investors were scared to own anything other than government paper. Nobody was worried about inflation because the economy had come to a standstill.Now, all of those forces are working in reverse – and Washington is pulling a
Bank Negara says may hike rates further
2010-03-15 03:11:00
Malaysia’s central bank said it may increase interest rates further to avert asset bubbles and discourage risky investments by people seeking better returns, even as inflation will likely remain “modest” this year.“We will review the conditions at our next monetary policy meeting and work towards further normalizing if necessary,” Governor Zeti Akhtar Aziz said in a March 12 Bloomberg Television interview in Kuala Lumpur. “Inflation will continue to be modest and therefore it would not prompt us towards tightening, but that does not preclude that we will continue to normalize interest rates.”Malaysia raised its benchmark interest rate to 2.25 per cent this month, becoming the second Asian nation to increase borrowing costs as the region leads a recovery from the global slump.
2010-03-15 03:11:00
Malaysia’s central bank said it may increase interest rates further to avert asset bubbles and discourage risky investments by people seeking better returns, even as inflation will likely remain “modest” this year.“We will review the conditions at our next monetary policy meeting and work towards further normalizing if necessary,” Governor Zeti Akhtar Aziz said in a March 12 Bloomberg Television interview in Kuala Lumpur. “Inflation will continue to be modest and therefore it would not prompt us towards tightening, but that does not preclude that we will continue to normalize interest rates.”Malaysia raised its benchmark interest rate to 2.25 per cent this month, becoming the second Asian nation to increase borrowing costs as the region leads a recovery from the global slump.
Market may backtrack when central banks normalise rates
2010-03-11 18:42:00
PETALING JAYA: The local bourse’s benchmark FTSE Bursa Malaysia KL Composite Index, which has risen 2.9% from March 4 when Bank Negara announced a 25-basis point hike in the overnight policy rate to close yesterday at 1,321.43 points, will start to retrace from April as the region’s central banks begin to normalise their respective monetary policies. Analysts believe that with the lack of fundamentals to fuel the rally further, the market would start to see outflow of funds as soon as central banks in the region start to raise their benchmark policy rates, which could commence next month. “The risk of retracement is there, we see it starting from April. This month is still okay but much also depends on when China starts to raise interest rates,” OSK Research Sdn Bhd research head C
2010-03-11 18:42:00
PETALING JAYA: The local bourse’s benchmark FTSE Bursa Malaysia KL Composite Index, which has risen 2.9% from March 4 when Bank Negara announced a 25-basis point hike in the overnight policy rate to close yesterday at 1,321.43 points, will start to retrace from April as the region’s central banks begin to normalise their respective monetary policies. Analysts believe that with the lack of fundamentals to fuel the rally further, the market would start to see outflow of funds as soon as central banks in the region start to raise their benchmark policy rates, which could commence next month. “The risk of retracement is there, we see it starting from April. This month is still okay but much also depends on when China starts to raise interest rates,” OSK Research Sdn Bhd research head C
Mass school closures approved in Kansas City, Mo
2010-03-11 01:47:00
KANSAS CITY, Mo. – The Kansas City school board narrowly approved a plan Wednesday night to close nearly half the district's schools in a desperate bid to avoid a potential bankruptcy. The board voted 5-4 after parents and community leaders made final pleas to spare the schools even as the beleaguered district seeks to erase a projected $50 million budget shortfall. The approved plan calls for shuttering 29 of 61 schools — a striking amount even as public school closures rise nationwide while the recession eats away at academic budgets. "The urban core has suffered white flight post-the 1954 U.S. Supreme Court decision Brown v. the Board of Education, blockbusting by the real estate industry, redlining by banks and other financial instit
2010-03-11 01:47:00
KANSAS CITY, Mo. – The Kansas City school board narrowly approved a plan Wednesday night to close nearly half the district's schools in a desperate bid to avoid a potential bankruptcy. The board voted 5-4 after parents and community leaders made final pleas to spare the schools even as the beleaguered district seeks to erase a projected $50 million budget shortfall. The approved plan calls for shuttering 29 of 61 schools — a striking amount even as public school closures rise nationwide while the recession eats away at academic budgets. "The urban core has suffered white flight post-the 1954 U.S. Supreme Court decision Brown v. the Board of Education, blockbusting by the real estate industry, redlining by banks and other financial instit
Banks raise rates, 1st in 2010
2010-03-08 18:59:00
KUALA LUMPUR: Banks have begun raising their base lending rates (BLRs) following Bank Negara’s move to lift the overnight policy rate (OPR) by 25 basis points last week. Five of the largest banks in the country raised their BLR to 5.8%. Malayan Banking Bhd (Maybank) and CIMB Bank Bhd were the first two banks to announce their interest rate hike from 5.55%. The two banks raised their BLR and base financing rates to 5.8% effective today following Bank Negara’s OPR revision last Thursday. In a statement, Maybank president and CEO Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the OPR.“We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of t
2010-03-08 18:59:00
KUALA LUMPUR: Banks have begun raising their base lending rates (BLRs) following Bank Negara’s move to lift the overnight policy rate (OPR) by 25 basis points last week. Five of the largest banks in the country raised their BLR to 5.8%. Malayan Banking Bhd (Maybank) and CIMB Bank Bhd were the first two banks to announce their interest rate hike from 5.55%. The two banks raised their BLR and base financing rates to 5.8% effective today following Bank Negara’s OPR revision last Thursday. In a statement, Maybank president and CEO Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the OPR.“We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of t
Why Professionals Aren't Buying This Rally - Brian Hunt
2010-03-08 18:55:00
Most professional traders asked themselves the same question during last week's stock rally:How is the market rising when I'm not buying stocks – and neither are any of my friends?I have a chart for you showing why many of the smartest traders I know are asking themselves this question... and why they expect the market to head lower, at least in the short term.Below is a chart that displays how some professional traders view the market. It shows the past nine months of trading in the big S&P 500 fund (SPY). Many days, this is the most frequently traded security on the market. It moves in lockstep with the benchmark S&P 500 index.You'll notice this chart has more to it than the simple "line charts" you often see on television or in the newspaper. This chart contains much more info
2010-03-08 18:55:00
Most professional traders asked themselves the same question during last week's stock rally:How is the market rising when I'm not buying stocks – and neither are any of my friends?I have a chart for you showing why many of the smartest traders I know are asking themselves this question... and why they expect the market to head lower, at least in the short term.Below is a chart that displays how some professional traders view the market. It shows the past nine months of trading in the big S&P 500 fund (SPY). Many days, this is the most frequently traded security on the market. It moves in lockstep with the benchmark S&P 500 index.You'll notice this chart has more to it than the simple "line charts" you often see on television or in the newspaper. This chart contains much more info
'Buy farmland and gold,' advises Dr Doom
2010-02-23 21:14:00
The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash. The bleak warning of social and financial meltdown, delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers. Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom. Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mer
2010-02-23 21:14:00
The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash. The bleak warning of social and financial meltdown, delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers. Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom. Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mer
Citigroup Warns Customers It May Refuse To Allow Withdrawals
2010-02-23 16:20:00
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days."Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.What's going on? It seems that this is something of an error. The seven day notice policy only applies to customers in Texas, Ira Stoll reports at The Future of Capitalism. It was acc
2010-02-23 16:20:00
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days."Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.What's going on? It seems that this is something of an error. The seven day notice policy only applies to customers in Texas, Ira Stoll reports at The Future of Capitalism. It was acc
Today Is the Day
2010-02-22 20:35:00
Today is the day to tell your wife that you love her.Today is the day to call your mother and chat with her for an hour.Today is the day to send your dad a note.Today is the day to get in touch with that friend you haven’t talked to in a while.Today is the day to call up a special person and set up a date.Today is the day to stop by your grandmother’s house with a sack full of groceries and make dinner for her.Today is the day to visit that old family friend who helped you so much when you were younger. Not Valentine’s Day. Not Mother’s Day. Not Father’s Day. Not someone’s birthday. Not Christmas. The value a person has in your life is never really shown on a “special” day marked on a calendar and observed with a greeting card and a slickly-wrapped present. It’s shown
2010-02-22 20:35:00
Today is the day to tell your wife that you love her.Today is the day to call your mother and chat with her for an hour.Today is the day to send your dad a note.Today is the day to get in touch with that friend you haven’t talked to in a while.Today is the day to call up a special person and set up a date.Today is the day to stop by your grandmother’s house with a sack full of groceries and make dinner for her.Today is the day to visit that old family friend who helped you so much when you were younger. Not Valentine’s Day. Not Mother’s Day. Not Father’s Day. Not someone’s birthday. Not Christmas. The value a person has in your life is never really shown on a “special” day marked on a calendar and observed with a greeting card and a slickly-wrapped present. It’s shown