Posts Tagged ‘Angela Merkel’

Irish Citizens Sold Down the River in “Firepower of Stupidity”

Mish writes about how Irish Citizens Sold Down the River in "Firepower of Stupidity" - Ilene 

Courtesy of Mish 

Today the Irish Government sold its citizens into debt slavery by agreeing to guarantee stupid loans made by German, British, and US banks. Those loans fueled one of the biggest property bubbles in the world. Ireland has since crashed.

Ireland Agree To Bailout

Please consider Ireland Seeks Bailout as ‘Outsized’ Problem Overwhelms Nation

Ireland applied for a bailout to help fund itself and save its banks, becoming the second euro member to seek a rescue from the European Union and the International Monetary Fund.

Irish Prime Minister Brian Cowen said he expects talks on the package to be completed in the “next few weeks.” Finance Minister Brian Lenihan said the loan will be less than 100 billion euros ($137 billion), though he refused to give any further details at a press conference in Dublin today.

“A small sovereign like Ireland faced with an outsized problem that we have in our banking sector, cannot on its own address all those problems,” Lenihan said. Ireland may not draw down on the entire loan, he said.

While Ireland may not fully use any cash it gets from the EU and IMF, Lenihan said the size of the package “is important to demonstrate” the “firepower that stands behind the banking system.”

The Irish turmoil has also reopened tensions about the governance of the euro region after German Chancellor Angela Merkel last month called for bondholders to foot more of the bill of European bailouts. Her stance, criticized European Central Bank President Jean-Claude Trichet, sparked a bond market selloff.

Bondholders Should Foot Entire Bill

Trichet is pissed about common sense statement by German Chancellor Angela Merkel about who should foot the bill. Actually, Merkel did not go far enough. When you make stupid loans you pay the price. Or at least you should.

But no! Trichet as well as the Irish Prime Minister seem to think that Irish taxpayers should bail out the Irish banks (which is in reality a bailout of German, and UK banks that made piss poor loans to Ireland).

Why the average Irish citizen should have to bail out foreign bondholders is beyond me, but I do note that the same happened in the US with taxpayers footing an enormous bill for Fannie Mae, Freddie Mac, and…
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German Economy Minister Accuses US of Currency Manipulation

German Economy Minister Accuses US of Currency Manipulation

Courtesy of Mish

At long last a major player is finally pointing a the currency manipulation finger where it needs to be placed, the US.

Please consider Germany Says Fed Is Headed ‘Wrong Way’ With Monetary Easing

The Federal Reserve’s push toward easier monetary policy is the “wrong way” to stimulate growth and may amount to a manipulation of the dollar, German Economy Minister Rainer Bruederle said.

Fed Chairman Ben S. Bernanke yesterday gave Group of 20 finance ministers and central bankers meeting in Gyeongju, South Korea an overview of the U.S. central bank’s efforts to jumpstart the world’s largest economy. His strategy, which investors expect will soon include greater asset purchases, drew criticism at the talks, said Bruederle.

“It’s the wrong way to try to prevent or solve problems by adding more liquidity,” Bruederle told reporters yesterday, saying that emerging-market officials were among the critics. Bruederle, a member of the Free Democratic Party, the junior partner in Chancellor Angela Merkel’s government, stepped in for hospitalized Finance Minister Wolfgang Schaeuble at the meeting.

“Excessive, permanent money creation in my opinion is an indirect manipulation of an exchange rate,” Bruederle said. The minister has taken a pro-market stance in his first year in office, criticizing state intervention in cases such as providing aid for General Motors Co.’s German Opel unit.

The Big Point

I have been saying for years that the US was every bit the currency manipulator we accuse China of being. My stance is that interest rate policy decisions in and of themselves are manipulative.

Moreover, we have since gone one step further with futile unwarranted rounds of quantitative easing baked into the cake.

Thankfully, the German economic minister is willing to say what anyone with an ounce of common sense has known for a long time: “Excessive, permanent money creation in my opinion is an indirect manipulation of an exchange rate.”

Correction:
Rainer Bruederle is "Bundesminister für Wirtschaft und Technologie", "Federal Minister for Economy and Technology", not Finance Minister. He was filling in for hospitalized Finance Minister Wolfgang Schaeuble at the meeting.

Mike "Mish" Shedlock

 


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Never Let the Threat of a Manufactured Crisis Go to Waste

Never Let the Threat of a Manufactured Crisis Go to Waste

Courtesy of Mark Thoma, Economist’s View 

There’s been a lot of speculation about the motives of the Austerians — those who want to begin balancing budgets now because they believe that’s what markets want. For example, Paul Krugman attributes it, in part, to

moralizing and posturing. Germans tend to think of running deficits as being morally wrong, while balancing budgets is considered virtuous, never mind the … economic logic. “The last few hours were a singular show of strength,” declared Angela Merkel … after a special cabinet meeting agreed on the austerity plan. And showing strength — or what is perceived as strength — is what it’s all about.

But there is another argument based upon the notion of "never let a crisis — or the manufactured threat of one — go to waste." This is an opportunity to "starve the European Beast" in the eyes of many European conservatives, and there are those who are using the "that’s what markets want" argument as cover for an ideological agenda:

The spectre of laissez-faire stalks Britain, by Jeremy Seabrook, CIF: The relish with which David Cameron announced that our whole way of life would be affected for years by impending cuts, and no one in the land would be exempt from the asperities about to be inflicted, suggested to many that he and his fellow cabinet-millionaires will probably weather the coming storm better than the rest of us.

His parade of Margaret Thatcher, who resembled nothing so much as a faded kabuki performer, outside 10 Downing Street, was also highly symbolic. It was a redemptive moment, the "ultimate" triumph of policies she advocated (but did not entirely follow) 30 years ago. It exhibited the qualities of purification ritual, reversion to a more severe form of capitalism; and in the process a transformation of nanny state into stepmother state.

Nick Clegg’s pious assertion that cuts would be fair and compassionate was at odds with Cameron’s gusto, which is familiar enough in Conservative rhetoric: Cameron confronting an overweening state, which will be shrunk so the private sector might flourish once more. When he said the effects of his policies would be felt for decades to come, he meant something more than a mere diminution of the structural deficit. He admitted as much… 

While cutting back big government may appear a


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Merkel Tells Obama To Stuff It

Merkel Tells Obama To Stuff It

Courtesy of Karl Denninger at The Market Ticker 

This ought to get interesting….

Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that "we are going to discuss when to quit the phase of short-term measures and go on to lasting budget consolidation."

Such a move was "urgently necessary, in the view of the Europeans and particularly of Germany," she said.

Obama urged the world’s leading economies Friday to avoid scaling back government spending too quickly or risk derailing the global recovery.

Heh heh heh….

Oh Mr. President?  Yes, you Mr. Obama.

Chancellor Merkel appears to have figured out the meaning of this graph:

That is, more than two years of attempting to force credit creation to expand, thereby once-again restarting the Ponzi Scheme, has failed.

All further exercises in this vein will do is make the damage worse, exactly as I said it would in 2007 initially.

"Our highest priority in Toronto must be to safeguard and strengthen the recovery," Obama said in the letter dated June 16, but released Friday amid concerns about the pace of the global recovery.

There is no recovery Mr. President.  There has not been and will not be until the speculators and banksters that have taken on excessive debt, either as creditors or debtors, are forced to disgorge same.

The below chart lays forth the wasteland you are creating:

You (and you predecessor, George Bush) have replaced 11% of final demand (in the form of GDP) with deficit spending.  You have no credible plan to stop doing it as final private demand has failed to rebound, just as it did not in the 2003-2007 years and thus George Bush was unable to withdraw his bogus "stimulus" measures.

You are now trapped in an exponentially-deteriorating credit picture Mr. President.  The only question remaining is whether you and your idiot "advisors" will recognize this and act in time to prevent the destruction of the political system of The United States.

There is no means by which you can avoid the pain and adjustment that has to be taken.  It is not possible, mathematically, to continue to increase the total systemic indebtedness, irrespective of the manipulations and games you attempt to pull on the body politic.

Angela Merkel and the rest of the EU have come to recognize that the…
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Which Horizon?

Which Horizon?

Courtesy of James Howard Kunstler 

UK, England, Tyne and Wear, Whitley Bay, St Mary's Lighthouse, dusk

     Did the nation heave a sigh of relief when BP announced that their latest gambit to "cap" the Deepwater Horizon gusher will result in hosing up fifty percent of the leaking oil? If so, the nation may be sighing too soon since the other half of the oil will still collect in underwater plumes and hover all around the Gulf Coast like those baleful mother ships in the most recent generation of alien invasion movies. I shudder to imagine the tonnage of dead wildlife flotsam that will wash up with the tide for years to come. It will seem like a "necklace of death" for several states, though even that may not be enough to distract them from the more gratifying raptures of Nascar and NFL football. 

     For the moment we can only speculate on what the still-unresolved incident will mean for America’s oil supply. The zeal to prosecute BP for something like criminal negligence has bestirred a Department of Justice comatose during the rape-and-pillage of the US financial system. BP may be driven out of business, but then what? The net effect of the oil spill, one way or another, will be the gradual shut-down of oil drilling activity in the Gulf of Mexico. New government supervision will make operations very costly, if not non-viable, and the surviving companies will probably pack up for the west coast of Africa where supervision is almost non-existent.  Anyway you cut it, the US will produce less oil and import more — and have to rely on the political stability of places like Angola and Nigeria, not to mention the simmering Middle East.

     So far, also, the US has done nothing in the way of holding a serious national political discussion about the the most important part of the story: our pathological dependency on cars. I don’t know if this will ever happen, even right up to the moment when the lines form at the filling stations. For years, anyway, the few public figures such as Boone Pickens who give the appearance of concern about our oil problem, end up down the rabbit hole of denial when they get behind schemes to run the whole US car-and-truck fleet on something besides gasoline.

     This unfortunate techno-narcissism shows that almost nobody wants to think about living…
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Paul Krugman’s Magic Keynesian Mirror

Paul Krugman’s Magic Keynesian Mirror

Courtesy of Mish

Paul Krugman is quite upset with the deficit hawks at the G-20, so much so that he says Lost Decade, Here We Come

The deficit hawks have taken over the G20.

It’s basically incredible that this is happening with unemployment in the euro area still rising, and only slight labor market progress in the US.

The right thing, overwhelmingly, is to do things that will reduce spending and/or raise revenue after the economy has recovered — specifically, wait until after the economy is strong enough that monetary policy can offset the contractionary effects of fiscal austerity. But no: the deficit hawks want their cuts while unemployment rates are still at near-record highs and monetary policy is still hard up against the zero bound.

Utter folly posing as wisdom. Incredible.

G-20 an Amazing Success

Female devil holding whip, flames in background

In sharp contrast, I called the G-20 an Amazing Success

With all the heated debate and every country doing what they want, inquiring minds just may be asking "How the heck can you call this a success?"

That’s a good question so let’s highlight the positives.

Defining G-20 Success

  • Merkel and Trichet politely told Geithner to go to hell. Given that Geithner needs to be fired, this is a positive event.
  • Europe is more concerned about sovereign debt issues than stimulating growth. Only fools like Geither and the IMF would argue against that.
  • No one paid any attention to Geithner or the Keynesian clowns at the IMF, most notably, IMF Managing Director Dominique Strauss-Kahn.
  • There was no agreement on a universal bank levy. A universal tax is the wrong approach to risk management and it punishes banks with good lending practices.
  • Geithner made a complete fool out of himself.
  • A dozen cheers for German Chancellor Angela Merkel who said “We can only spend what we receive in income.” Finally someone gets it.

 What more could you possibly ask for?

Predictable Reaction 

Without mentioning Krugman specifically, I am not surprised by his reaction. Indeed, I predicted it on Saturday in G20 Heated Debates; Europe Politely Tells Geithner Where To Go.

Kiss the Illusion Goodbye

With global stimulus efforts playing second fiddle to default concerns, a double-dip recession is just around the corner. Please see Hungary Tries To Calm Markets; Europe Headed Back in Recession, US Will Not Decouple for further


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Prepare NOW: They “Get It”

Prepare NOW: They "Get It"

Courtesy of Karl Denninger at The Market Ticker 

Anyone who doesn’t believe that "they" (the powers that be) "get it" at this point needs to remove their head from their ass:

G-20 central bankers and finance ministers agreed in a joint statement today that “within their capacity, countries will expand domestic sources of growth.” At the same time, European Central Bank President Jean-Claude Trichet told reporters that Europe’s best contribution to the global rebound is to achieve fiscal sustainability.

Those two are polar opposites.  You just heard Trichet admit that what everyone wants they cannot have.

Look folks, if you currently spend 11% of GDP by borrowing money and blowing into the economy to prop it up and you achieve "fiscal sustainability" (defined as not doing that any more) GDP will inevitably contract by the amount of stimulative borrowing you withdraw.

Geithner said at a press briefing today that “credible commitments to fiscal sustainability over the medium term” are needed to generate a durable recovery. Spain’s Finance Minister Elena Salgado said at a separate European press briefing that deficit reduction should come “no later than 2011.”

Game’s up folks – that’s six months out.

Let’s be straight with everyone here.  These are the current deficit additions for the first five months of 2010 (click for a larger copy):

That’s nearly $700 billion in five months.  Annualized it’s $1.68 trillion.  Last year’s total was $1.647 trillion.

Ignore the CBO and other government claims.  That which is borrowed is that which is owed, and the increase in that which is owed over a year’s time is the true deficit in the budget, irrespective of all claims otherwise.

This comes out to roughly 12% of GDP.  If we contract that deficit spending in 2011 to the European standard of no more than 3% of GDP then either GDP contracts by the difference (8-9%) or the government extracts that from you in the form of taxes.

Either way you don’t have it – it is either not produced and thus not paid or it is produced and stolen.  Irrespective of how it is achieved you are going to see roughly 10% of your
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G-20 an Amazing Success; Another Look at the Impossible

G-20 an Amazing Success; Another Look at the Impossible

Courtesy of Mish 

In relative terms, as economic summits go, the recent G-20 meeting was a spectacular success.

Unfortunately, one might not get that impression from the Bloomberg headline G-20 Coordination Fails as Governments Clash on Recovery Recipe.

Global policy makers are starting to clash over their individual prescriptions for recovery as Europe demands lower budget deficits while the U.S. warns against pushing exports instead of domestic demand.

At a meeting of Group of 20 finance chiefs in Busan, South Korea, June 4-5, Treasury Secretary Timothy F. Geithner said the world cannot again bank on the cash-strapped U.S. consumer to drive growth and urged other nations to stimulate their own demand.

Global policy makers are starting to clash over their individual prescriptions for recovery as Europe demands lower budget deficits while the U.S. warns against pushing exports instead of domestic demand.

At a meeting of Group of 20 finance chiefs in Busan, South Korea, June 4-5, Treasury Secretary Timothy F. Geithner said the world cannot again bank on the cash-strapped U.S. consumer to drive growth and urged other nations to stimulate their own demand.

The conundrum is that governments are all trying to harness a rebound in trade, which the Netherlands Bureau for Economic Analysis last week estimated grew 3.5 percent in March, more than double February’s pace.

Companies from French beverage maker Pernod Ricard SA to Japan’s Toshiba Corp. and Nissan Motor Co. are counting on foreign demand to stoke earnings.

In the U.S., President Barack Obama aims to double exports over five years, while China is refusing to bow to international pressure to allow an appreciation in the yuan, which it has held at 6.83 per dollar for almost two years to help its exporters.

Japan’s new prime minister, Naoto Kan, enters office with a reputation for favoring a weak yen after saying as finance minister that he wanted the currency to fall “a bit more.” French Prime Minister Francois Fillon said June 4 the euro’s drop below $1.20 is “good news” after a gain that was “penalizing our exports.” Britain’s Osborne said last week in Beijing he is “keen” to make the U.K. more trade-driven.

‘Who Will’ Buy?

“If everyone’s expecting to export their way out of trouble, who will be buying?” said Alvin Liew, a Singapore- based economist for Standard Chartered Plc. “Countries may


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Nations Over Banks (Who Serve Only Themselves)

Great Denninger quotable:  "No nation can survive when the rule of law becomes subordinate to a handful of rich and powerful people who simply steal anything they want with impunity.  The economy of such a nation ultimately is bled dry by that corruption and theft, with the people over time refusing to innovate and provide their effort when it will simply be robbed away from them."

Nations Over Banks (Who Serve Only Themselves)

Courtesy of Karl Denninger at The Market Ticker 

monopolies, big banks

Are you listening Mr. Obama?

First, let’s look at the idiocy among so-called "reporters"

Swaps Soar on Germany’s ‘Act of Desperation’: Credit Markets

Desperation?  Or is it more like this?

Merkel Seeks EU Rules After German Short-Selling Ban (Update1)

You know, like the rule of law, for instance?

“The lack of rules and limits can make behavior in financial markets driven purely by the profit motive destructive and lead to an existential threat to financial stability in Europe and even the world,” Merkel told lawmakers in Berlin today. “The market alone won’t correct these mistakes.”

Yes indeed.  But the profit motive isn’t evil or bad.  It’s only bad and troublesome when it comes with lawlessness and conflicts of interest.

For example, Goldman Sachs:

As the housing crisis mounted in early 2007, Goldman Sachs was busy selling risky, mortgage-related securities issued by its longtime client, Washington Mutual, a major bank based in Seattle.

Although Goldman had decided months earlier that the mortgage market was headed for a fall, it continued to sell the WaMu securities to investors. While Goldman put its imprimatur on that offering, traders in the same Goldman unit were not so sanguine about WaMu’s prospects:they were betting that the value of WaMu’s stock and other securities would decline.

Got that?  Oh, and it wasn’t just WaMu; the article documents trades against Bear Stearns, the State of New Jersey,  AIG and Thornburg, with the worst being AIG that they profited from twice - first by their demise, then again when they managed to get paid at "par" for bets with AIG that were in fact worth zero as the company was bankrupt!   Yet Lloyd has said:

“Questions have been raised that go to the heart of this institution’s most fundamental value: how we treat our clients.” — Lloyd C. Blankfein, Goldman Sachs’s C.E.O., at the


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The German Government Has Had Enough

The German Government Has Had Enough

German Chancellor Merkel answers questions as she leaves the European Council after a Euro Zone leaders summit in Brussels

Courtesy of Karl Denninger at The Market Ticker

If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today.

It appears that the German Government has just plain had enough of the crap that the banksters have tried to pull, and has decided to do what Barack Obama should have done in early 2009.

That is:

  • No more naked credit crap, especially against sovereigns but not only against sovereigns.  No insurable interest, no CDS – period.
  • Naked shorting will now be actually stopped in 10 leading financial institutions.
  • Germany has had it with naked shorting of Gold, and specifically noted bank manipulation of gold prices via naked shorts beyond intent or ability to deliver.
  • Germany has also said that they’re not going to permit Euro derivatives that are not a "bonafide" FX hedge.  That is, no more naked bets on Euro movements either.
  • Hedge funds are going to be regulated, position size limits mandated and enforced, reporting enhanced and a transaction tax is coming.
  • It’s about damn time.
Handcuffed businessman holding credit cards

Oh, and it appears that instead of telling all the banksters what they were going to do and "getting permission" first, or even discussing it with other governments, the German Government did what all governments should do - make up your mind and then do it without giving a good damn whether the banksters or other governments like it – and without giving them input into the decision or notice that it’s coming.

The bid rigging, the game-playing and the rest are all a bunch of crap.  I’ve been hollering about this now for more than three years and yet our government spends it’s time fellating the bankers and their dogs instead of enforcing the law.

It is illegal to defraud people.

It is illegal to rig markets, including the massive bid-rigging that I wrote about this morning, the Jefferson County Alabama scam and dozens if not hundreds more – all committed, it is alleged (and in some cases proved) by the major banks.

It is illegal to short stocks with no intention or ability to deliver.

And it is illegal to bribe government officials, no matter how you accomplish it.

These are not "isolated incidents" or even a pattern of conduct – as the bid-rigging report this morning makes clear ripping people off has become an institutionalized…
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Phil's Favorites

Johnson & Johnson vaccine suspension - what this means for you

 

Johnson & Johnson vaccine suspension – what this means for you

Vials of the Johnson & Johnson vaccine to prevent COVID-19. The use of this particular vaccine has been halted temporarily. Justin Tallis/AFP via Getty Images

Courtesy of William Petri, University of Virginia

The Centers for Disease Control and Prevention and the Food and Drug Administration on April 13, 2021 halted use of the one-dose Johnson & Johnson COVID-19 vaccine that has been given to 6.8 million people in the U.S. The pause is...



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Biotech/COVID-19

Johnson & Johnson vaccine suspension - what this means for you

 

Johnson & Johnson vaccine suspension – what this means for you

Vials of the Johnson & Johnson vaccine to prevent COVID-19. The use of this particular vaccine has been halted temporarily. Justin Tallis/AFP via Getty Images

Courtesy of William Petri, University of Virginia

The Centers for Disease Control and Prevention and the Food and Drug Administration on April 13, 2021 halted use of the one-dose Johnson & Johnson COVID-19 vaccine that has been given to 6.8 million people in the U.S. The pause is...



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ValueWalk

UK's First-Time Buyers See House Prices Climb

By Jacob Wolinsky. Originally published at ValueWalk.

First-time buyers paying as much as £73k more to get on the ladder since the market reopened

Q1 2021 hedge fund letters, conferences and more

The Climbing Cost Of Houses For First Time Buyers

Research by the new build snagging and defect management experts, ...



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Zero Hedge

Trading Bonds In Venezuela? Bring A Gunman And Cash

Courtesy of ZeroHedge View original post here.

The Venezuelan bond market - described by Bloomberg as one of the 'tiniest and almost certainly the most primitive' in the world - is also one of the most dangerous.

Based in Caracas where Nicolas Maduro's socialist government is 'ever so slowly freeing up the battered economy' for capitalistic endeavors, the US dollar has become the defacto currency. Yet, there's no electronic method to electronically transfer USD from one bank to another - which mean...



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Digital Currencies

Coinbase Sets Reference Price At $250, Well Below Last Private Market Trade

Courtesy of ZeroHedge

Ahead of tomorrow's much-anticipated direct listing of massive crypto-exchange Coinbase, Nasdaq has just announced the company's so-called Reference Price at $250.

On April 14, 2021, the Class A common stock of Coinbase Global, Inc. is expected to list on Nasdaq through a Direct Listing using the ticker “COIN”.

Because this security has not previously traded on any listing market and has no prior day's closing price, Regulation SHO Rule 201 will not apply to the security until its second day of trading on Nasdaq.

As a Direct Listing, COIN will be in a regulatory halt until ...



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Kimble Charting Solutions

Semiconductor Red Hot Performance Tests 20-Year Breakout Level

Courtesy of Chris Kimble

Will the “Red Hot” semiconductor index cool off or get even hotter due to the shortage of chips?

This chart looks at the Semiconductor Index on a monthly basis over the past quarter-century. No doubt the trend is up as it has created a series of higher lows and higher highs since 2009.

Fibonacci extension levels were applied to the 1996 lows and the 2000 highs. Currently, the index is testing the 261% extension level, while at the top of the rising channel as momentum is at the highest level since the 2000 highs.

The rare chip shortage coul...



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Chart School

Gold Gann Angle Update

Courtesy of Read the Ticker

The Biden Yellen team have made their play, and it is not US dollar friendly.

Janet Yellen speech named "International Priorities — Remarks to The Chicago Council on Global Affairs" (here) can be summed to (via Luke Gromen) :


The US is accelerating a move away from "subjugating the US middle and working class to support the USD", to "subjugating the USD to support the US middle and working classes".



Well the above is true, but as we all know large US deficits and the trend of the US dollar are joined at the hip, and that trend is down '...

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Politics

For autocrats like Vladimir Putin, ruthless repression is often a winning way to stay in power

 

For autocrats like Vladimir Putin, ruthless repression is often a winning way to stay in power

Russian police officers beat people protesting the jailing of opposition leader Alexei Navalny, Jan. 23, 2021 in Moscow. Mikhail Svetlov/Getty Images)

Courtesy of Shelley Inglis, University of Dayton

Russian dissident Alexei Navalny, sick with a cough and ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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