Charting Stocks

The markets jumped early in the trading day in a move  led by a “Leaked” memo by Nationalized Citigroup CEO Vikram Pandit which was sent to employees stating that the troubled bank was profitable in the first 2 months of 2009. He went on to describe their capital position as “Strong.”
The market, which was extremely [...]

Private gains through public risk.
In the latest of public subsidies handed out to private corporations, GE Capital will sell debt this week under the Federal Deposit Insurance Corp.’s (FDIC) Temporary Liquidity Guarantee Program. GE will enjoy a very low cost of borrowing as it issues bonds backed by the full faith and credit of the [...]

In our 2009 forecast, we mentioned that the Dow Jones/Gold ratio would likely hit 5 this year. A milestone was reached today as the Dow Jones index made a fresh 20 year low in terms of gold. The ratio has fallen to 7, down from the 1999 peak of 42.5 ounces.
Seven 1 oz. gold eagle [...]

Amid growing rumors of bank nationalization, which the WSJ and Dow Jones attribute to ChartingStocks.net, the great wealth destroying CEO of Bank of America felt obliged to give an emergency interview  yesterday to play down talks of government takeover.
“When you talk about nationalization of Bank of America, it becomes absurd. What it appears to [...]

Donald Trump & Co. Maxed Out

You know times are rough when Donald Trump can’t pay his bills!
Trump Entertainment Resorts announced that it will have to miss the $53.1 Million interest payment due to it’s bondholders on Monday. Citing a collapse in revenues and a poor economic environment, the Atlantic City Casino operator says that it [...]

Kondratieff
Nikolai Kondratieff was a Russian Professor who, after the Russian revolution of 1917, was tasked with developing the “Five year plan” which researched and analyzed factors regarding economic growth for the Soviet’s. Kondratieff published his work in 1926 and because his findings seemed critical of the stated policies of Joseph Stalin, Professor Kondratieff was removed [...]

The IMF’s chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday.”The worst is yet to come,” Blanchard said in an interview with the Finanz und Wirtschaft newspaper, adding that “a lot of time is needed before the situation [...]