"I think the loan loss reserve has to go to a lot higher and I also think that they'll be writing off a minimum of $6 billion in bad loans every quarter for the next four to six quarters"
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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
Calculators and Tools
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
- Calculated Risk Blog
- Jesse's Café Américain
Education Links
Smartypants Hall of Fame
- Economist, Steve Keen
- Hedge Fund Manager, Hugh Henry
- Radio/TV Host, Max Keiser
- Stock Analyst, Ivy Zelman
- Fmr Options Trader/Philospher, Nassim Taleb
- Fmr Regulator, William K. Black
- Derivatives expert, Janet Tavakoli
- Fmr Hedge Fund Manager, Andrew Lahde
- Fmr Hedge Fund Manager, Dr. Michael Burry
- 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
- Daily Show: Home Crisis Investigation
- 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)
- Brits: Subprime crisis (part 2)
- SNL: Conspiracy Rock
- For Kids: The Mississippi Bubble
Ways to make money when stocks go down
Option Trading Tools
Blog Archive
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2009
(456)
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October
(60)
- Fed Ends Treasury Buys That Capped Rates, Stabiliz...
- A Sham GDP for a Sham Economy
- Gold Frauds
- Even The U.S. Treasury Is Betting On Higher Inflation
- Wells Fargo's funny numbers
- First time home buyer credit is inflating home pri...
- Without dollar fall, U.S. will repeat crisis
- Irrational Exuberance
- PBS Frontline: The Warning (video)
- Wall Street's Naked Swindle
- Dick Bove gives Wells Fargo a "sell" rating
- Behind the Numbers At Wells Fargo
- U.S. Hyperinflation
- Wells Fargo fails to beat "whisper number"
- Einhorn Goes for Gold, Slamming U.S. Policies
- Inflation Will Kill Stocks
- Wells Fargo sees credit losses peaking next year
- Wells Fargo 3rd Q results tomorrow
- China Is Already Dumping the Dollar
- Gold may not follow the crash next time
- John Browne on Inflation
- Russia Prepares To Short $18 Billion
- The FHA Is A Looming Disaster
- Daily Show: Dow 10,000
- Chinese drywall problems
- When Big Returns Aren't That Big
- Word on the street: TARP money used to buy US Trea...
- Foreclosures hit record
- Dollar to fall by half
- Wells Fargo's shadyness
- DOW 10,000, 7537 or 3,333
- Harrods to sell gold bullion
- How Marc Faber And John Paulson Are Playing The In...
- 60% of borrowers underwater
- Housing risks still lurk even as buyers return
- Home values expected to fall 10% nationally
- Dollar loses reserve status to yen & euro
- US home rescue plan delaying, not solving crisis
- Single Best Investment in History = 258,449%
- It's Official, Central Banks Are Fleeing The Dollar
- Americans Still Delusional About House Prices
- Besides The Fed, Nobody Is Buying Agency Debt
- 34 Banks Miss TARP Dividends
- Commercial Real Estate May Be Next Victim of Reces...
- FHA may need a $54 billion bailout
- Union Bank of Switzerland says sell Wells Fargo
- The Dollar Collapse Is A Huge Part Of This Rally
- Whalen: Q4 “Going to Be a Bank Bloodbath”
- On the Edge with . . . Janet Tavakoli (video)
- When Banks Start Lending... Watch Out!
- Report on Bailouts Says Treasury Misled Public
- End of the "petro-dollar"
- Military home buyers find VA loans a roadblock
- Search working again
- Unemployment outlasts benefits
- Weak Dollar Helps Bulls Erase Losses
- Options activity on Wells Fargo, Moody's and Morga...
- Whitney: Small Business Will Be Strangled By Credi...
- Unemployment rate officially 9.8% (really 17%)
- Daily Show: High Frequency Trading Cash Cow (video)
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October
(60)
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