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Posts Tagged ‘Jesse’s Café Américain’

Enjoying Coffee in the Lodge with Jesse

THE BANKS MUST BE RESTRAINED, AND THE FINANCIAL SYSTEM REFORMED, WITH BALANCE RESTORED TO THE ECONOMY, BEFORE THERE CAN BE ANY SUSTAINED RECOVERY – Jesse 

Enjoying Coffee at the Lodge with Jesse 

By Ilene

coffee at the lodge with JesseI have long been a fan of Jesse’s Café Américain. Jesse is a brilliant writer and a deep thinker who uniquely transcends politics, easily seeing through lies and disinformation. He has a great feel for what really matters, and the courage to speak out about it.  Jesse and I have spoken before about the economy, markets and politics, and being at a crossroads once again, it was a perfect time to catch up. 

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Ilene: Hi Jesse, since our last interview, I would guess that we’d both agree that nothing has been done to clean up the financial system – the banks and government interconnectedness, conflicts of interest, and out-and-out fraudulent activities.  Are things better or worse, or in line, with what you were expecting over a year ago?

Jesse: I think things are progressing in line with what I had expected, with the Fed and the government trying to prop up an unsustainable status quo by monetizing debt.  I am still a little shocked by the brazen manner in which the financial markets are being conducted and regulated, and the news is reported in the US. It is one thing to hold a theory that says something will happen, but it is quite another to see it actually happening, and so blatantly, almost without a word of protest.

Ilene: How do you view our financial system and the global financial system now, with no progress towards any kind of reform?

Jesse: The US is now being run by an oligarchy, with lip service being paid to the electorate in allowing the people to vote for the candidates that the parties and the powers will put forward.  There will be no recovery for the middle class until they assert themselves. I know I have stated this often in my tag phrase, “The banks must be restrained…” But it is the case.

There are areas of resistance to this trend on what one might call ‘the fringes of Empire,’ those client states which have been ruled by powerful cliques with the support and the protection of the US.  Although certainly not a great analogy, it does remind one of…
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JP Morgan’s Commodities Trading Head Blythe Masters to Troops: “Don’t Panic”

“FASCISM SHOULD MORE APPROPRIATELY BE CALLED CORPORATISM, AS IT IS THE MERGER OF CORPORATE AND GOVERNMENT POWER. THE TWENTIETH CENTURY WILL BE KNOWN IN HISTORY AS THE CENTURY OF FASCISM. DEMOCRACY IS BEAUTIFUL IN THEORY; IN PRACTICE IT IS A FALLACY. SOCIALISM IS A FRAUD, A COMEDY, A PHANTOM, A BLACKMAIL. FOR FASCISM THE STATE IS ABSOLUTE, INDIVIDUALS AND GROUPS ARE RELATIVE. IT BELIEVES NEITHER IN THE POSSIBILITY NOR THE UTILITY OF PEACE. FASCISM IS A RELIGION." BENITO MUSSOLINI

JP Morgan’s Commodities Trading Head Blythe Masters to Troops: "Don’t Panic"

Courtesy of JESSE’S CAFÉ AMÉRICAIN

Note to Blythe Masters: Sorry to hear about your losses in the coal market because of a ‘rookie error’ in taking on overlarge positions, but an epic short squeeze is coming for your massive and untenable positions in silver and gold, and hell is coming with it.

And the vampire squid and its minions are going to wrap themselves around your neck, and inexorably suck the life from you, while the hedge funds lick your wounds. Your protectors in the government will not even return your calls, because they will be running for their own lives away from the disaster that you created, denying all knowledge of it, any of it.

And then, by all means, you may panic.

Bloomberg
JPMorgan’s Masters Urges No `Panic’ as Commodities Unit Slips
By Dawn Kopecki
Aug 03 2010

Blythe Masters, JPMorgan Chase & Co.’s head of commodities, sought to reassure her team on an internal conference call after “extremely difficult” dismissals, defections and a first half in which some results were as much as 20 percent below expectations.

“Don’t panic,” she said in summing up the 35-minute call, a recording of which was obtained by Bloomberg News. “No one’s going to get screwed. We’re not going to do crazy things on compensation at the end of the year.”

Masters, who was named to run the business in late 2006, said the bank began dismissals on July 21, a day before the call, to trim overlap after buying parts of RBS Sempra Commodities LLP. The bank cut less than 10 percent of the combined front office, even as the oil unit lost “key people” who needed to be replaced, she said. She was discussing results with top executives after “we made a bit of


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Nothing Was Sacred: The Theft of the American Dream

Jesse wrote a terrific opening post for Phil’s Weekend article and popular R.E.M. song "It’s The End of the World as We Know It." - Ilene 

Nothing Was Sacred: The Theft of the American Dream

Courtesy of JESSE’S CAFÉ AMÉRICAIN

America must decide what type of country it wishes to be, and then conform public and foreign policy to those ends, and not the other way around. Politicians have no right to subjugate the constitutional process of government to any foreign organization.

Secrecy, except in very select military matters, is repugnant to the health of a democratic government, and is almost always a means to conceal a fraud. Corporations are not people, and do not have the rights of individuals as such.

Banks are utilities for the rational allocation of capital created by savings, and as utilities deserve special protections. All else is speculation and gambling. In banking, simpler and more stable is better. Low cost rules, as excessive financialisation is a pernicious tax on the real economy.

Financial speculation, as opposed to entrepreneurial investment, creates little value, serving largely to transfer wealth from the many to the few, often by exploiting the weak, and corrupting the law. It does serve to identify and correct market inefficiencies, but this benefit is vastly overrated, because those are quickly eliminated. As such it should be allowed, but tightly regulated and highly taxed as a form of gambling.

When the oligarchy’s enablers, hired help is the politer word, and assorted useful idiots ask, "But how then will we do this or that?" ask them back, "How did we do it twenty years ago?" Before the financial revolution and the descent into a bubble economy and a secretive and largely corrupted government with a GDP whose primary product is fraud.

Other nations, such as China, are surely acting for their own interests, and in many cases the interests of their people, much more diligently and effectively than the kleptocrats who are in power in Washington and New York these days. How then could we possibly subvert the Constitution and the welfare of the people to unelected foreign organizations? If this requires a greater reliance on self-sufficiency, then so be it. America is large enough to see to its own, as the others see to theirs.

Economics will not provide any answers in and of itself. Economics without an a priori policy and morality, without a guiding principle…
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SP 500 September Futures Daily Chart

SP 500 September Futures Daily Chart

Courtesy of JESSE’S CAFÉ AMÉRICAIN

Stocks were rallying today on optimism about earnings based on last night’s results from Alcoa and CSX. 

After hours tonight Intel announced better than expected earnings and raised its forecasts. This caused the futures to gap open when they resumed trading. Here is what they look like now, after hours.

This has been a wicked rally off the lows. It *might* be getting towards a short term top, possibly tomorrow, but I would not want to get in front of it. Wait and see how the rally progresses.

 


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Obama to Tell the G20 to Fix the US By Changing the World

Obama to Tell the G20 to Fix the US By Changing the World

Courtesy of Jesse’s Café Américain

obamaWhen you can’t run a state, run for President. When you can’t run your country, attempt to run the world.

This directive to the G20 is probably going to make the Organizer-in-Chief’s recent pathetic sermonette on altruism and self-denial to Wall Street seem effective by comparison.

Unless he is as prime an example of boobus Americanus as he appears to be by his actions, we suspect that this proposal is intended merely to be an unachievable blue sky diversion from a genuine agenda for reform and action, which might be an annoying hindrance to Obama’s constituents on Wall Street. It has been estimated that the reforms on the table from Europe, for example, might cut the trading revenues at Goldman Sachs by a third.

What Obama does not say, and perhaps does not realize, is that the majority of the problems that exist in the US’s imbalanced trade relationships is the position of the US dollar as the world’s reserve currency.

Owning the reserve currency is a significant benefit for your government and financial sectors, but it makes your manufacturing and productive economy the target of every mercantilist command economy around the globe that is by definition hungry for dollars.

Reuters
Obama wants G20 to rethink global economy

By Jeff Mason and Dave Graham
Mon Sep 21, 2009 12:29am EDT

WASHINGTON/BERLIN (Reuters) – U.S. President Barack Obama said on Sunday he would push world leaders this week for a reshaping of the global economy in response to the deepest financial crisis in decades

The summit will be held in the former steelmaking center of Pittsburgh, Pennsylvania, marking the third time in less than a year that leaders of countries accounting for about 85 percent of the world economy will have met to coordinate their responses to the crisis.

The United States is proposing a broad new economic framework that it hopes the G20 will adopt, according to a letter by a top White House adviser.

Obama said the U.S. economy was recovering, even if unemployment remained high, and now was the time to rebalance the global economy after decades of U.S. over-consumption. (The recovery is as tenuous as Mr. Obama’s prospects for a second term – Jesse)

"We can’t go back to the era where
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SP Futures Hourly Chart at 1 PM

SP Futures Hourly Chart at 1 PM

Courtesy of Jesse’s Café Américain

The US equity markets have bounced back to key resistance on a much great than expected drawdown in oil inventories.

The trade today seems very technical (ie short squeeze by the 100 million dollar men) and lacking in conviction.

Let’s see how the markets deal with this and then trade accordingly. Volumes remain light, and may do so until September. However, if anything ‘happens’ this market may flop as convincingly as Obama’s "change" platform.

Jesse's Chart

 


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Market Shadows

Releasing CAT

Releasing CAT: Sold Caterpillar on today’s earnings report bounce

By Paul Price of Market Shadows

I am satisfied with the move in Caterpillar because we bought our position during its out-of-favor periods. Here are the dates when we purchased and how much we paid for CAT when it went into our Virtual Value Portfolio .  

   Stock                                                  Ticker              Date             # Shares       Price

...

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Zero Hedge

Exactly Like 7 Years Ago? 2014 Is Turning Out To Be Eerily Similar To 2007

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Michael Snyder of The Economic Collapse blog,

The similarities between 2007 and 2014 continue to pile up.  As you are about to see, U.S. home sales fell dramatically throughout 2007 even as the mainstream media, our politicians and Federal Reserve Chairman Ben Bernanke promised us that everything was going to be just fine and that w...



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Chart School

Real Median Household Income Declines 0.73% in March

Courtesy of Doug Short.

Summary: The Sentier Research monthly median household income data series is now available for March. The nominal median household income was up $285 month-over-month and up only $1,494 year-over-year. Adjusted for inflation, it declined 0.73% MoM but is up 1.3% YoY.

The previous monthly gain was the second largest of the 171 data points in this series since the turn of the century. The latest number erased much of that gain. In real dollar terms, the median annual income is 7.5% lower (about $4,309) than its interim high in January 2008.

The traditional source of household income data is the Census Bureau, which publishes annual household income data in mid-September for the previous year.

Sentier Research, an organization that focuses on income and demographics, offers a more...



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Phil's Favorites

Bill Moyers on the American Oligarchy

Courtesy of Larry Doyle.

Prior to correcting a problem, one needs to identify and expose it. That said, bringing about real change is challenging when the interests of those charged with protecting and promoting the public interest are outweighed by their personal pursuits and willingness to trade their position for payoffs.

Make no mistake, this reality is ultimately a failure of leadership on so many levels. Bill Moyers offers a few minutes of cutting commentary on the growing presence of an American oligarchy.

The quid pro quo system of governance practiced by our elected officials and regulatory executives allows for a host of corruptible practices including a tax structure that does not advance our national interests, economic and otherwise.

Regrettably, though, this is the reality in which we currently live. The corruption, legal and illegal, are a burden on all of ...



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Insider Scoop

Great Lakes Dredge & Dock Sells Demolition Business for $5.3M

Courtesy of Benzinga.

Related GLDD Imperial Capital's Top 8 Investment Opportunities Barron's Recap: Meltdown For 3D Printing?

vGreat Lakes Dredge & Dock Corporation (NASDAQ: GLDD), the largest provider of dredging services in the United States and a major provider of environmental and remediation services, today announced that on April 23, 2014, it completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise ...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Option Review

Casino Stocks LVS, WYNN On The Run Ahead of Earnings

Shares in Las Vegas Sands Corp. (Ticker: LVS) are up sharply today, gaining as much as 5.7% to touch $80.12 and the highest level since April 4th, mirroring gains in shares of resort casino operator Wynn Resorts Ltd. (Ticker: WYNN). The move in Wynn shares appears, at least in part, to follow a big increase in target price from analysts at CLSA who upped their target on the ‘buy’ rated stock to $350 from $250 a share. CLSA also has a ‘buy’ rating on Las Vegas Sands with a $100 price target according to a note from reporter, Janet Freund, on Bloomberg. Both companies are scheduled to report first-quarter earnings after the closing bell on Thursday.

...

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Sabrient

What the Market Wants: Market Poised to Head Higher: 3 Stocks to Consider

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

Yesterday, the market continued its winning ways for the fifth consecutive day.  The S&P 500 closed within 1% of its all-time high, and the DJI was even closer to its all-time high.  Healthcare, Energy and Technology led the sectors while Financials, Telecom, and Utilities finished slightly in the red.  All three sectors in the red are typically flight-to-safety stocks, so despite lower than average volume, the market appears poised to make new highs.

Mid-cap Growth led the style/caps last week, up 2.87%, and Small-cap Growth trailed, up 2.22%. This week will bring well over 100 S&P 500 stocks reporting their March quarter earn...



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OpTrader

Swing trading portfolio - Week of April 21st, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly. Click here and sign in with your PSW user name and password, or sign up for a free trial.

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Digital Currencies

Facebook Takes Life Seriously and Moves To Create Its Own Virtual Currency, Increases UltraCoin Valuation Significantly

Courtesy of ZeroHedge. View original post here.

Submitted by Reggie Middleton.

The Financial Times reports:

[Facebook] The social network is only weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook and use it to pay and exchange money with others, according to several people involved in the process. 

The authorisation from Ireland’s central bank to become an “e-money” institution would allow ...



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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



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Pharmboy

Here We Go Again - Pharma & Biotechs 2014

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Ladies and Gentlemen, hobos and tramps,
Cross-eyed mosquitoes, and Bow-legged ants,
I come before you, To stand behind you,
To tell you something, I know nothing about.

And so the circus begins in Union Square, San Francisco for this weeks JP Morgan Healthcare Conference.  Will the momentum from 2013, which carried the S&P Spider Biotech ETF to all time highs, carry on in 2014?  The Biotech ETF beat the S&P by better than 3 points.

As I noted in my previous post, Biotechs Galore - IPOs and More, biotechs were rushing to IPOs so that venture capitalists could unwind their holdings (funds are usually 5-7 years), as well as take advantage of the opportune moment...



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