Monday, September 17, 2012
BI - Fleckenstein interviewed on King World News: blah blah Satan blah blah silver rounds blah blah guns & ammo. Also, he thinks bonds are finished as "a place to hide". So invest in metals. Gee, I wonder which ones: tin? Lead? Pfft.... Well, at least GT's "omg inflation" chorus is singing early to greet the new dawn.
Beyond Brics - the Indian government are big fat liars. In contrast to Kiron Sarkar's idea that India may be rounding a corner, this other guy is doubtful. One of them is wrong. The market will tell us. Sarkar versus Prasanna: two men enter! One man leaves!
WSJ Marketbeat - is the Euro rally a classic short squeeze? Well, obviously everyone was on one side of the boat, as (I think) JC Parets kept saying. Now they found out they were wrong. But is that really all? And by the way - a strengthening Euro is bad for Europe. It's bad for the periphery, who only just started posting trade surpluses; it's especially bad for Germany, who are now uncompetitive again.
Mental Floss - How one pilot helped defeat communism.
Beyond Brics - China shipping takes a plunge. This includes a 13% July yoy contraction in shipping to Europe; differentiating between core and periphery (or as I like to call them, cunt and non-cunt), northern shipping dropped by 9% while southern shipping dropped by 21%. Cos austerity's caused an economic depression dontcha know. I'd expect this is a big reason that China was looking doomy earlier this summer.
Beyond Brics - China slowdown - Fed to the rescue? China is indeed a clusterfuck, but you've gotta admit that a restart of US growth would be a very positive thing for China's economy. After all, the only thing they can do without fucking it all up is exporting cheap shit to white people.
Put the two articles together, and you'd have to think that if US growth brings stimulus to other nations, and if perhaps Europe is done sucking, that maybe China's seen the worst? Yes, it's still a clusterfuck, but it's now perhaps a clusterfuck that has hit bottom.
WSJ Marketbeat: JP Morgan says China's turned a corner. To wit: their "real-economy momentum indictor for China, which has been negative for every day since April 5, flipped to positive on Sept. 6". Dunno of what value that is. But if you're bearish China, please do keep one eye on the market.