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Wednesday, March 20, 2013

Living In a Fool's Paradise

Kind of a mixed bag in the world of news so far today.

This morning in a Bloomberg news story, I read that JP Morgan is releasing the funds it seized from bankrupt MF Global. Account holders who lost all of their money will get back about 93% minus the loss of investing power one gets from possessing your own money since Halloween day, 2011.

So there's that. I have never been surprised that the government's bank, JP Morgan, was at the heart of the MF Global scandal. They continue to be the greatest criminal enterprise in America- second only to Congress.

Freddie Mac is also suing JP Morgan, the criminal enterprise, over manipulating libor rates. Another shocker.

The worst story of the day.

Unlike perennial stock cheerleader Warren Buffett, legendary investor Jim Rogers has now declared that we are living in a "fools paradise." I giggled when I read that. There are a lot of people that agree and many of them are pointing to some very dark clouds on the horizon. This is an excellent article that explains why.

Gold bug Jim Sinclair says the bottom is in for gold at 1600. He does not believe it will retrace below those levels.

I have gold down 4 bucks at 1607 in the futures market but I think that may reverse. Equity futures are much higher because that ten billion in POMO money the FED has handed out since last Friday has to go somewhere. Just a paltry ten thousand million.

Dow futures up 65. The media never mentions POMO. Today they say the markets are up and breathing a sigh of relief over Cyprus as they try to find Plan B.

Equities are still ridiculously priced.

Whirlpool, that sexy-high growth appliance company, only trading at 116 bucks a share.

One of my favorite short selling ideas is Boeing. Even after losing a 220 jet order to rival Airbus, union unrest, sweeping away the Dreamliner bad news, and trading near it's top at the 86 dollar mark- how much higher can it go? It has already more than doubled off the 09 lows.

A lot of ripe fruit in the fools paradise.

Tuesday, March 19, 2013

When Did Telling The Truth Become a Crime?

This video is about Bradley Manning. The embedded video shows a group of unarmed civilians being slaughtered by U.S. aerial forces. About twelve of them. US forces even shot the rescuers.

The original story here.

So Manning leaked the truth about this slaughter to Wikileaks (after the Army lied about it) and kept a copy of this video. He faces life in prison. The vid is about 5 mins. I first saw it here:

The worst part about this? Manning is just a kid. I'm not even sure that morally- he did anything wrong- and now he faces life in prison. The original story.