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coolhand's Account Talk
- Thread starter coolhand
- Start date
coolhand
Well-known member
Interesting charts depicting elements of the global economy.
http://www.businessinsider.com/morg...2010-3#are-sentiment-indicators-topping-out-1
http://www.businessinsider.com/morg...2010-3#are-sentiment-indicators-topping-out-1
coolhand
Well-known member
coolhand
Well-known member
The conversation about China shunning our treasuries has been going on for years, but if you read my previous post from stratfor and then the link the below, I think you can conclude that we may be heading towards some kind of economic clash. China will probably end up on the short end of the stick, but domestically we'll feel some fallout too.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGTmJsYQNxe8
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGTmJsYQNxe8
coolhand
Well-known member
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aieZHggSt0ks
Citigroup Inc. is overhauling its platform of trading strategies in an attempt to grow its share of U.S. equities from 14 percent, according to Young Kang, global head of algorithmic products at the firm. The New York-based broker is introducing a new set of algorithmic strategies, as well as technology focused on speed and geared to an electronic marketplace with dozens of venues. Citigroup’s almost 1,000 clients will make the switch to the new trading products by May 1, when the old system is retired. Steve Swanson, head of global electronic trading at Citigroup, said he expects the new platform to help lift the broker’s volume toward 20 percent of the market from its current 14 percent. He said 20 percent is Citigroup’s goal across all of its equities businesses.
Citigroup Inc. is overhauling its platform of trading strategies in an attempt to grow its share of U.S. equities from 14 percent, according to Young Kang, global head of algorithmic products at the firm. The New York-based broker is introducing a new set of algorithmic strategies, as well as technology focused on speed and geared to an electronic marketplace with dozens of venues. Citigroup’s almost 1,000 clients will make the switch to the new trading products by May 1, when the old system is retired. Steve Swanson, head of global electronic trading at Citigroup, said he expects the new platform to help lift the broker’s volume toward 20 percent of the market from its current 14 percent. He said 20 percent is Citigroup’s goal across all of its equities businesses.
Silverbird
Well-known member
A rescue mechanism that they hoped never would be used? Didn't they hear the one about TARP - never supposed to be used??
Fool me once...
coolhand
Well-known member
Another great write up by MATT TAIBBI:
Looting Main Street
http://www.rollingstone.com/politics/story/32906678/looting_main_street
Looting Main Street
http://www.rollingstone.com/politics/story/32906678/looting_main_street
coolhand
Well-known member
coolhand
Well-known member
coolhand
Well-known member
coolhand
Well-known member
They're no fools. Risk is still there despite the rose-colored spin put forth by the media.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.lA2q2FUwR8
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.lA2q2FUwR8
coolhand
Well-known member
There's an understatement...:laugh:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXPjinMl0aH8
Goldman Sachs Group Inc. and JPMorgan Chase & Co. aren’t doing “God’s work” when it comes to derivatives, according to investor groups of nuns and priests.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXPjinMl0aH8
Goldman Sachs Group Inc. and JPMorgan Chase & Co. aren’t doing “God’s work” when it comes to derivatives, according to investor groups of nuns and priests.
coolhand
Well-known member
Boy, I'm sure glad the economy's getting better...media says so.
http://www.nytimes.com/2010/04/02/business/economy/02bankruptcy.html
http://www.nytimes.com/2010/04/02/business/economy/02bankruptcy.html
coolhand
Well-known member
http://www.nytimes.com/2010/04/04/opinion/04koniak.html?ref=opinion&pagewanted=all
Well, the truth is this: The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue. At the time, there were news reports about Merrill Lynch pretending to buy Nigerian barges from Enron, JPMorgan Chase dressing up its loans to Enron as commodity trades and Citigroup disguising Enron debt as profits from Treasury-bill swaps.
This went well beyond Enron. Our banks had gone into the business of creating “products” to help companies, cities and whole countries hide their true financial condition. Consider the recent revelations about how Goldman Sachs and J. P. Morgan helped Greece hide its debt. Now we discover that our banks not only were raking in huge profits helping others hide debt, they also drank their own Kool-Aid. As a chief executive of Citibank said in 2007 about financing dangerously leveraged deals, “As long as the music is playing, you’ve got to get up and dance.”
Well, the truth is this: The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue. At the time, there were news reports about Merrill Lynch pretending to buy Nigerian barges from Enron, JPMorgan Chase dressing up its loans to Enron as commodity trades and Citigroup disguising Enron debt as profits from Treasury-bill swaps.
This went well beyond Enron. Our banks had gone into the business of creating “products” to help companies, cities and whole countries hide their true financial condition. Consider the recent revelations about how Goldman Sachs and J. P. Morgan helped Greece hide its debt. Now we discover that our banks not only were raking in huge profits helping others hide debt, they also drank their own Kool-Aid. As a chief executive of Citibank said in 2007 about financing dangerously leveraged deals, “As long as the music is playing, you’ve got to get up and dance.”
coolhand
Well-known member
http://www.businessinsider.com/euro...are-now-rising-to-unsustainable-levels-2010-4
Markets still aren't buying Europe's smoke and mirrors, and are demanding yields from Greek debt which many believe are simply unsustainable for the country.
Markets still aren't buying Europe's smoke and mirrors, and are demanding yields from Greek debt which many believe are simply unsustainable for the country.
coolhand
Well-known member
http://www.zerohedge.com/article/go...middle-class-americans-find-surprise-protecto
In an exclusive interview with HuffPo's Shahien Nasiripour, Hoenig indicates that even among members of the Fed, there are people who not only think rationally, but realize that should the big banks/hedge funds (really just JPM and GS at this point) get their wishes to continue the status quo, the next leg of the crisis can't be far behind.The only problem: this time America itself will go down with the big banks: remember - all negative swap spreads indicate is that the banks insured by America, are now perceived as less risky than America itself.
In an exclusive interview with HuffPo's Shahien Nasiripour, Hoenig indicates that even among members of the Fed, there are people who not only think rationally, but realize that should the big banks/hedge funds (really just JPM and GS at this point) get their wishes to continue the status quo, the next leg of the crisis can't be far behind.The only problem: this time America itself will go down with the big banks: remember - all negative swap spreads indicate is that the banks insured by America, are now perceived as less risky than America itself.
coolhand
Well-known member
http://www.telegraph.co.uk/finance/...s-Bernanke-shuts-down-his-printing-press.html
We will never know whether it was wise to go nuclear. My view – anathema to readers, I fear – is that Ben Bernanke and Britain's Mervyn King saved us from potential calamity. We were all too close to the tipping point illustrated in Irving Fisher's Debt Deflation Causes of Great Depressions, the moment when the sailing ship catches water and capsizes instead of righting itself by natural rhythm.
Work by Berkeley Professor Barry Eichengreen shows that global trade, industrial output, and stock markets all crashed at a faster rate over the six terrifying months after the Lehman crisis than during the early 1930s. How quickly we forget, and how easily we are seduced by a 76pc stock rally into thinking it was a storm in a teacup. Just wait until the day fiscal retribution comes.
We will never know whether it was wise to go nuclear. My view – anathema to readers, I fear – is that Ben Bernanke and Britain's Mervyn King saved us from potential calamity. We were all too close to the tipping point illustrated in Irving Fisher's Debt Deflation Causes of Great Depressions, the moment when the sailing ship catches water and capsizes instead of righting itself by natural rhythm.
Work by Berkeley Professor Barry Eichengreen shows that global trade, industrial output, and stock markets all crashed at a faster rate over the six terrifying months after the Lehman crisis than during the early 1930s. How quickly we forget, and how easily we are seduced by a 76pc stock rally into thinking it was a storm in a teacup. Just wait until the day fiscal retribution comes.
