Voltron says: Just because nationalization is a bad idea doesn't mean it won't happen. Meredith Whitney has been prescient, but political analysis carries more weight than financial analysis.
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Long: GLD
Voltron's economics blog. Started in Iraq in 2007 as the "Gamblers Anonymous Support Group" email list.
Disclaimer
This is not an offer to buy or sell securities in any jurisdiction. This blog is for informational purposes only. I do not give legal, tax or accounting advice of any kind. I am not a licensed financial advisor. I make no representations as to the suitability of any transaction at any time. In fact, you should ignore everything I say.
Voltron's Current Forecast
Wall Street and the government are about to engage in battle and recriminations in the face of a massive wave of foreclosures. Wall Street will start yanking the leash, causing stock market crashes whenever the status quo is threatened.
The economy is fake and is dominated by fraud and criminal activity. The government is running several giant ponzi schemes.
The DOW/GOLD ratio will drop to 2.
The Fed's announcement that they are going to print a Trillion dollars and use it to buy debt is the proverbial "crossing of the Rubicon" The US Dollar is toast. I think the trigger will be some of the smaller holders of Treasurys (Singapore, for example) trying to dump their holdings before China does. This will cause a panic stampede out of Treasurys which will destroy the dollar.
Wells Fargo are liars. They have over 150 Billion in worthless home equity loans and a Trillion dollars in off-balance sheet liabilities.
Do not abuse leverage. The Fed is going to spend limitless amounts of money to pound interest rates and Gold prices into appearing "normal" when in fact they are on the verge of exploding. The tremendous volatility will shake out leveraged players.
Long: GLD
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Blogs I read
- Capital Account with Lauren Lyster
- Max Keiser
- Mortgage Lender Implode-O-Meter
- Naked Capitalism
- Zero Hedge
- The Big Picture
- Euro Pacific Capital
- Safe Haven
- MISH'S Global Economic Trend Analysis
- Nathan's Economic Edge
- Dr Housing Bubble
- Karl Denninger's Market Ticker
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- Jesse's Café Américain
Education Links
Smartypants Hall of Fame
- Economist, Steve Keen
- Hedge Fund Manager, Hugh Henry
- Radio/TV Host, Max Keiser
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- Fmr Options Trader/Philospher, Nassim Taleb
- Fmr Regulator, William K. Black
- Derivatives expert, Janet Tavakoli
- Fmr Hedge Fund Manager, Andrew Lahde
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- Investment Advisor, Marc Faber
- Short Seller, Jim Chanos
- Hedge Fund Manager, John Paulson
- Stockbroker/Economist, Peter Schiff
- Columnist: Damon Vrabel
- Investor, Jim Rogers
- Bank Analyst, Meredth Whitney
- Fmr Regulator, Brooksley Born
- Economist, Nouriel Roubini (NYU)
- Artist/Filmmaker, Paul Grignon
- Congressman, Ron Paul (R - TX)
- European Parliamentarian, Daniel Hannan
- Hedge Fund Manager, David Einhorn
- Hedge Fund Manager, Bill Ackman
Comic Relief (videos)
- NOMINT: Greek Crisis Explained
- Brits: Congratulations! You’ve Only Lost $1 Million Dollars!
- Daily Show: The banks can't lose
- Daily Show: Fat Fingers
- Ratigan: Financial Fraud For Dummies
- NPR: Bet Against The American Dream
- Daily Show: In Dodd We Trust
- The Onion: Money is an illusion
- "Fear the Boom and Bust" a Hayek vs Keynes Rap
- Mint.com: R U Unemployed
- Yes, Minister: A Conflict of Interest
- Colbert: Honor Bound
- Colbert: The Fed
- SNL: US-China Relations
- Daily Show: Dow 10,000
- Daily Show: High Frequency Trading Cash Cow
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- Brits: The elephant in the room
- Daily Show: The bailouts are working!
- SNL: Bailout Skit (uncensored)
- South Park: The importance of saving money
- South Park: How the Treasury Dept works
- Subprime Mortgage Crisis Blues
- Brits: Subprime crisis (part 1)
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- SNL: Conspiracy Rock
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Blog Archive
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2009
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February
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- ETFs (video)
- UPDATED: Voltron's New Strategy
- Optimism is one thing, but this is ridiculous
- The Formula That Killed Wall Street
- Fed is committed to propping up banks
- Will The Fed's "Stress Test" Be Stressful Enough?
- Next Crisis: Commercial Real Estate
- Now It's Official: Stress Test Results Pre-Determined
- Meredith Whitney trashes banks on her own
- I'm getting out of WFC
- SKF at 200
- Greenspan backs bank nationalization
- Another $500 Billion into the breach
- The Insolvency of the Fed
- Bank Stress Tests
- Peter Schiff on the Bailout (video)
- Bank nationalization gains ground with Republicans
- Treasury Secretary is a debt junkie himself
- Analysts warn of commercial meltdown
- Geithner's Bank Plan Led To Hasty Goldman Meeting
- NYT: Audits at 18 banks are underway
- Peter Schiff Lightning Round (video)
- Peter Schiff on CNBC (video)
- 38 Enrons?
- Wells Fargo analysis
- The problem with loan securitization
- Pelosi Stimulus Casts Shadow Over Obama, America, ...
- Obama on Nationalization
- Economists React: Treasury Announcement Fails to S...
- Why Obama's new Tarp will fail to rescue the banks
- Stimulus: A History of Folly
- Government Bonds May Be Last Bubble: Jim Rogers
- Electronic run on the banks last September
- CNBC: Predicting Crisis: Dr. Doom & the Black Swan
- Stimulis (video)
- SNL nails it again (video)
- CBO: Obama stimulus harmful over long haul
- Suspending Mark To Market Accounting: The Tale Of ...
- US Debt Levels
- Commercial Real Estate: IYR, SRS: Pending Disaster
- Looser standards?
- Option ARMs and Recast Shock Syndrome
- CNBC's Cramer requests SEC ban SKF
- The slippery slope
- Real Unemployment
- Meredith Whitney Discusses Bad Banks (VIDEO)
- In Russia, Bailed-Out Banks Are Shorting Roubles
- Use tax cuts to ignite incentives
- Wells Fargo funny business
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February
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