Apologies for not posting as I have been hiding at a Dick Cheney-esque 'undisclosed location' as the markets gyrated up and down last week. Yes, there is absolutely nothing wrong, as these gyrations are completely normal and are how healthy, robust capital markets function. Too funny. Hey Duncan Niederauer of the NYSE, maybe a few score more high frequency trading outfits swapping a couple hundred shares back and forth 9 to the exponent 57 times which you can then tout as liquidity might reassure da boyz and da girlz on Fast Money that all is well, seeing as how the Chinese reverse stock listing idea you had worked out so brilliantly.
Did you happen to catch the GOP debate on television over the weekend? I am an unabashed supporter of Ron Paul as I believe he is our only hope. Regular readers may have noticed that I rail on the mainstream media both financial and balloon boy regarding their shallow coverage. Many take issue with this and have let me know as much via email, which is fine. I have plenty of family members who drink the kool aid of unless CBS, ABC or Fox or any of the other approved for viewing outlets says it it couldn't possibly be true.
Well, not only are these mainstream purveyors outlets of propaganda they are history revisionists as well, but sometimes they truly outdo themselves like this one from Politico regarding said GOP presidential candidate debate. The original title of their article was entitled Michelle Bachmann wins Ames Straw Poll, Tim Pawlenty gets third. Well if you search the article now, as I did today, it mysteriously appears edited to Michelle Bachmann wins Ames Straw Poll.
Check out this CNN video below on the subject.
I also happened to catch JP Morgan's chief Jamie Dimon on CNBC last week as he scoffed at Meredith Whitney's notion that many of the U.S. banks are zombie banks. Are you shocked CNBC ran the segment of his rebuttal upwards of a dozen times. Click your heels Dorothy and repeat after me 'there's no place like home, there's no place like home, there's no place like home". Poor Jamie, he still thinks, everything thinks there really is a wizard behind the curtain.
I see the insiders insider former Bear Stearns CEO Ace Greenberg blaming any economic woes we have on half the country being under water. Yes blame the weather. No double dip, or at least he hopes, expect anything less from a crumb chaser. At least he could have the humility to thank his bought and paid for puppets for suspending mark to market accounting rules so everyone can pretend to be solvent to keep the bonus' flowing.
Op-ed piece this morning from the oracle Warren Buffett that he wants to pay more taxes. I wonder if Mr. Buffetts new religion has anything to do with the pitchforks and boiled rope he thinks are in the hopper waiting to be unveiled. I wonder if the oracle thought this way before he had slathers of dough he couldn't spend in multiple lifetimes. I wonder if Berkshire's under-hypocrite Charlie Munger has advised the chief hypocrite Buffett that he is free to send a cheque into the Treasury for whatever amount he deems appropriate to clear his conscience. Of course he knew nothing about Lubrizol, or bailouts or anything else right. Genius stock picker, serial amnesist when it comes to everything else.
Lovely. Mark my words, when the entire story is told, the history books will not be kind to Mr. Buffett, Greenspan and the other architects of the great ponzi.
Short selling ban in Europe. What does one say about this other than to laugh are the simpleness and idiocy of those in charge. Pathetic the lot of em'.