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They now call me Captain
Italian Cruise ship captain Francesco Schettino began his new job as a busdriver yesterday…., one of the many jokes that broke out after a disastrous accident that should not have happened. Many people died needlessly and their families suffer from whatever idiotic thoughts this man had in his head. The accusation against his irresponsibility was...
Commodities Retreat
Gold retreats a little as markets await EU decisions pending market uncertainty and inflationary pressure, look for the potential of $2000/USD in the near future. Gold is off $3.00USD/oz @ 1729.20; Silver slips $0.32@ 33.48USD/oz. Oil also retreats $0.17@ $99.39USD/barrel. The Euro hit a recent high of 1.3521/USD, Range 1.2625- 1.3521/USD within the last weeks....
France to Impose a ‘Robin Hood’ tax
Nicolas Sarkozy as the French President, depicting himself as a man of action,in a pre-election gamble looks to introduce an unpopular 0.1% tax on financial transactions aimed at raising revenues. The emphasis is to raise revenues while discouraging money from flowing offshore. The tax will target shares and not bonds. He has also pledged to...
Corporate Earnings Benefit All?
During this corporate earnings period many companies continue to claim better than expected results. Apple Computer blew estimates out of the water, as they contemplate issuing a dividend to distribute the $100 billion in cash the company holds. This cash reserve is greater than the top 26 companies on the S&P combined. With all this...
Agreement amongst EU Leaders; German and Italian Employment Results Diverge;Canadian Growth Slows; USA Confidence Slips
The EU came to a unanimous decision to tighten their spending, place controls and penalties to those that do not follow the rules. Ultimately they will need more money and will tax their citizens further potentially putting the global economy at risk. German unemployment rate declined to 6.7 in Jan. from 6.8 in Dec., helping...
Commodities Explode on Fed Statement
Gold explodes higher on Fed decision, with pending market uncertainty and inflationary pressure, look for the potential of $2000/USD in the near future. Gold is up $22.40USD/oz @ 1722.50; Silver up $0.34@ 33.46USD/oz. Oil is also up $1.33@ $100.73USD/barrel. The Euro hit a recent high of 1.3521/USD, Range 1.2625-1.3521/USD within the last weeks. The USD...
US Federal Reserve Maintains Low Interest Rate Policy through 2014 – Canadian Prime Minister Harper Key Note Speaker at World Economic Forum
The Federal Reserve on Wednesday said that interest rates would continue to stay at ultra low rates through 2014. Previously, the fed pegged mid-2013 but the extra 18 months is intended to boost a struggling but modestly growing American economy. They state that inflation is subdued; I beg to differ, as they seem unconcerned. But...
Apple Computer Earnings Explode
Apple Computer came out with their earnings last night and blew the estimates out of the water. Apple now is the world’s most valuable firm topping $422 billion as first quarter earnings were $13.06 billion or $13.87USD/Share on revenue of $46.33 billion. Estimates were at $10.04/share on revenue of $38.92 billion. Profit was up 118%...
State of the Union Address Lighting a Fire of Class Warefare
President Obama spoke last night about fairness as the key to a resurgence of the economy. “We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does...
The Don Says Follow Your Heart
This past weekend was my eldest 19th birthday, a milestone which we both survived up until now. I reminisced as if it was yesterday, a man so pumped, I almost kicked my wife off the gurney to give birth myself. I was so prepared with cameras and videos until they told me to put everything...
EU draws line in Greek Debt Talks. Republican Race Gets Interesting.
President Obama will give his State of the Union Address this evening, an opportunity to launch his re-election ambitions to keep his cushy job. Money is not an issue as the new age media campaign was able to draw blood out of stones. Meanwhile Obama is about to nominate Larry Summers as Head of the...
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