Feb. 13 (Bloomberg) -- David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates Inc., talks about Greek auseterity measures approved by lawmakers and the global economy. Rosenberg, talking with Betty Liu on Bloomberg Television's "In the Loop," also discusses investment strategy. (Source: Bloomberg) … [Read more...]
Archives for February 2012
Gold King as Currencies Debased
Yesterday the Bank of England announced another round of quantitative easing, this time spending $79.1 billion on government bonds. On the chart below you can see the effects previous rounds of quantitative easing have had on the price of gold in U.S. dollars and pounds sterling. As monetary authorities in the United States and the United Kingdom have poured money on their economies, the price of gold in their currencies has skyrocketed. The continued debasement of fiat currencies has been a boon for gold investors, but a terrible strain on savers, diluting the value of their nest eggs. … [Read more...]
Sam Zell on Mark to Market Taxes
Who’s Custodian for Your Money?
You can see the hubris. As the bankruptcy of MF Global unfolds, customers are still looking for their money. That money should have been segregated and not part of the bets the firm was making with its own money. So far, $1.2 billion in client funds is missing. Where did it go? From Vanity Fair’s “Jon Corzine’s Riskiest Business”: That’s what U.S. congressmen mainly wanted to know when Corzine testified before the House Agriculture Committee on December 8. An informal survey of customers suggests that most think Corzine belongs in jail. Those who know him well, on the other hand, still … [Read more...]
Billionaire T. Boone Pickens on Oil Prices, Natural Gas
Feb. 2 (Bloomberg) -- T. Boone Pickens, chairman of BP Capital LLC, talks about the outlook for oil prices. Pickens also discusses the Obama administration's energy policy, prospects for natural gas and TransCanada Corp.'s Keystone XL pipeline project. He speaks with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg) … [Read more...]
What We’re Reading 2-3-12
Cyberattacks likely to escalate this year, Byron Acohido, USA Today The Zero Decade, The Wall Street Journal Iran Says Nuclear Scientist’s Murder Shows Foreign-Backed Terror Campaign, Ladane Nasseri and Nicole Gaouette, Bloomberg Class Warfare and the Buffett Rule, Arthur B. Laffer, The Wall Street Journal Saint Warren’s Dark Side, Charles Gasparino, New York Post Robert Shiller: A Housing Bottom? What Are They Thinking?, Henry Blodget, Daily Ticker The Buffett Ruse, The Wall Street Journal Romney's Fair Share, The Wall Street Journal … [Read more...]
Employment Picture Brightens: Is it Bullish for Stocks?
The Bureau of Labor Statistics released the monthly jobs report this morning. The headline numbers blew away expectations. Non-farm payroll employment increased by 243,000 in January compared to estimates of 140,000. The unemployment rate came in at 8.3%, 0.2% better than expectations. The big upside surprise in January’s employment numbers is likely related to the Labor Department’s annual benchmark survey and population adjustments, but there is no denying the positive trend in the labor market. Over the last three months, non-farm payrolls have increased by an average of 200,000, while the … [Read more...]