luni, 26 septembrie 2011


I urge my readers to remember the words of Pianist Artur Schnabel: “The notes I handle no better than many pianists. But the pauses between the notes – ah, that is where the art resides”.

Similarly, most investors are about equally good (or bad) at selecting stocks and other investments as well as at “timing” the market. However, some investors are more responsible and disciplined in their approach and that is where the superior performance comes from. As Dietrich Bonhoeffer noted, “Action springs not from thought, but from readiness for responsibility


Doar 10% din IMM-uri îndeplinesc condiţiile necesare obţinerii unui împrumut bancar, restul trebuie să-şi rezolve problemele apelând la cămătari” Potrivit autorităţilor din Wenzhou, 80% din IMM-urile din regiune folosesc în mod curent împrumuturi de la cămătari pentru a-şi putea continua activitatea, deşi dobânzile pe care cămătarii le impum trec de 10% pe lună. Doar în luna iulie, băncile ilegale din Wenzhou au rulat 17,2 mld. dolari, cu 40% mai mult decât cu un an înainte şi reprezentând o treime din întreg PIB-ul anual al oraşului. Iar statistica este a Băncii Centrale a Chinei.

Dacă avem o mină de aur cu mare potenţial în România aceea este agricultura, a declarat, miercuri, economistul Daniel Dăianu,

GRECIA
Cea mai urgentă problemă este aceea a exproprierilor, a estimat comisarul european. Potrivit acestuia, costurile exproprierii sunt 'neobişnuite; în timp ce ele se ridică în medie la 2 la sută din costurile totale de construcţie în restul Europei, aici se ridică la 10 la sută

BNR a vândut, astăzi, prin intermediul a două bănci comerciale, circa 20 de milioane de euro pentru a opri leul din scădere

Să-i permitem Greciei să intre în încetare de plăţi acum ar distruge încrederea investitorilor în zona euro şi ar putea declanşa o contagiune mai mare decât cea produsă de falimentul Lehman Brothers în 2008, a declarat duminică cancelarul german Angela Merkel, Atâta timp cât FMI-ul este convins că datoria Greciei este sustenabilă, cancelarul german va susţine această poziţie, a

the average vehicle commuting to and from work has only 1.1 people it.



Nouriel Roubini : while monetary policy has limited impact when the problems are excessive debt and insolvency rather than illiquidity, credit easing, rather than just quantitative easing, can be helpful. The European Central Bank should reverse its mistaken decision to hike interest rates. More monetary and credit easing is also required for the US Federal Reserve, the Bank of Japan, the Bank of England, and the Swiss National Bank. Inflation will soon be the last problem that central banks will fear, as renewed slack in goods, labor, real estate, and commodity markets feeds disinflationary pressures.

We love the idea of looking to establish a long USD/JPY

German Chancellor Angela Merkel said euro-region leaders must erect a firewall around Greece to avert a cascade of market attacks on other European states .


The Greek 2 year yield was up to 67%. The Greek 1 year yield is at 134%.

The Portuguese 2 year yield is up to 17.6% (rising quickly) and the Irish 2 year yield was down to 9.05%.

The European Union should strengthen its banks with public money, and spread money to small and mid-size businesses.
Nouriel Roubini : Emerging-market economies have more policy tools left than advanced economies do, and they should ease monetary and fiscal policy. The International Monetary Fund and the World Bank can serve as lender of last resort to emerging markets at risk of losing market access, conditional on appropriate policy reforms. And countries, like China, that rely excessively on net exports for growth should accelerate reforms, including more rapid currency appreciation, in order to boost domestic demand and consumption.

The European Central Bank should reverse its "mistaken decision" to boost interest rates, while others such as the Federal Reserve, Bank of Japan, Bank of England and Swiss National Bank do more

The price of copper hit a high for the year on April 8, three weeks before the S&P 500 hit its bull market high and then embarked on a vicious sell-off that intensified Thursday, bringing the stock benchmark to the cusp of a bear market. There is an old saying that every stock bull market has a copper top

The dollar "is going up against everything right now” for a number of reasons, said Rogers. would own the U.S. dollar, or the Swiss Franc, or agriculture. n China’s economy, saying, “They’re doing their best to cool things off … I expect them to continue to do it, and that is causing more slowdown around the world. hope the trade war doesn’t break out" because throughout history when it does it has "caused depressions,” Rogers added. “You saw what happened in the 1930s. It led to depression and it also led to war. So I hope it can be contained.”

towards creating floating autonomous states.
to peacefully test new ideas for government,
he Poseidon Award will be awarded to the first seastead which houses at least 50 full-time residents, is financially self-sufficient, offers seastead real estate on the open market and has de-facto political autonomy. In constructing the seasteads, participants should keep in mind that they can't flee rough seas and need to be able to weather a heavy storm. They should also be modular, with the possibility of expanding as the population does, be economically built and fully self sustainable

According to Moody's, CRE prices are up 1.2% from a year ago and down about 42% from the peak in 2007

IMF will not have enough money to bail out larger European countries if the crisis should spread. It is neither a case of IF or WHEN


But reports suggest leaders are working on a plan to allow Greece to default on its debts and remain in the euro.

Copper fell from $4.20 to $3.25—close to 25%—in about three weeks. The ongoing price collapse of copper signals that the markets have collectively decided that there is going to be no resurgence of the global economies—at least not for the next 9 to 18 months. rima facie, the fall in the price of copper is deflationary: Less demand means that the prices fall—meaning the dollar acquires purchasing power.

en Bernanke is famous for being terrified of deflation

According to the deflationary world view, falling prices oblige producers to cut back on production—which means firing workers. These fired workers—husbanding their resources during their unemployment—spend less, further contracting demand, thus putting more downward pressure on prices, forcing more producers to cut back and fire even more workers, who thus spend less

Bernanke will have no choice but to announce some new “non-traditional” liquidity injection scheme shortly.

Eu2 trillion of firepower to meet Italy and Spain’s financing needs in the event that the two countries were shut out of the markets.
  • G20 now preparing itself for Greek default after October - Sky sources. Will be on Sky News imminently with more
  • G20 sources: all efforts behind the scenes (by G20 members) are now going into recapitalising banks, preparing economies for default.
  • G20 sources: default not expected until after Cannes G20 early November. Emergency funding should still keep Greece afloat thru October
  • G20 sources: No suggestion Greek default need imply country leaving the euro
  • G20 sources: @ Washington summit marked difference in attitude. Confident euro members edging closer to recapitalising banks, expanding EFSF

Faber: after wrong on buble on stock, real-estate, commodity
QIII is for sure, when SP reaches 900-950. USD will go up because is better than many other. Stock market depends on china slowdown. China might collapse. Gold has had a big movie, recently was overbought, global liquidity is contractgin - > hits asset prices. On long run, they will print money, as soon as the markets will go down 15-20%.

ECB and European banks have Greece bonds. There are no private investors on these. THEY should and will default. It's a market solution. The germans want to bail out the banks not the greek government. PG will leave EU. There will be a greek currency

every time the market appears poised to crash, stock and sector correlations reach new highs while return dispersion drops as fundamentals and technical are broadly ignored, and only the roar of the thundering herd matters.

acă Grecia va intra în default (incapacitate de plată) pe datoria de stat de 340 miliarde euro

Aproximativ 50 de studenţi au intrat în sediul postului de televiziune cu intenţia de a difuza un mesaj de contestare a reformei universitare, potrivit poliţiei. Această reformă a provocat proteste în mai multe facultăţi.

Grecia este în insolvenţă şi se îndreaptă spre o depresiune economică, ceea ce va cauza daune catastrofale în întreaga Europă, este de părere Bruce Kasman, economist şef în cadrul băncii de investiţii JP Morgan Chase


BUSINESS – electric bike

probability of a recession in the U.S. in August at 5.8 percent, up slightly from 4.9 percent in July.

The “double-bottom” formation is therefore the line in the sand for a sharp move lower.
In conclusion, bar an unlikely surprise announcement from the European side, the downside risk remains wide opened.

This makes Norway and Sweden rather unique in today’s Europe. In addition both countries suffered severe real estate crises in the beginning of the 90’s which have led to strict risk control and alert crises management.

Potash is a salt used in fertiliser and is responsible for improving water retention, crop yield, nutrient value and the disease resistance of food crop
he greatest catalyst for fertiliser/potash is the price of foo
Potash is only produced in 12 countries
Canada being the largest producer with just less than 30 percent of total global mining production. Furthermore, the top three countries, Canada, Russia and Belarus produce approximately 64% of global potash and hold close to 90 percent of the world reserves
anadian marketing organisation, sells for Potash Corp., Agrium and Mosaic which supplies 25 percent of world potas






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