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While China is lowering interest rates and easing reserve requirements for banks, Federal Reserve chairman Ben Bernanke reinforced his wait-and-see approach before reassuring banks, and Wall Streeters, that he was ready to act if necessary. “We have a number of different options” he told a Congressional panel – should the cancer in Europe spread to America. But...
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The Dow Jones Industrial Average continued its correction this week ending June 1, 2012. The Average lost 339 points, or 2.7%, of its value in this four-day trading week; and is now down 1% for the year. The 15-51 strength Indicator was also down for the week, shedding 1.3% of its value. Despite poor Market...
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While above-average companies continued to outperform this week, average ones went nowhere – and I guess that’s good news considering the ugly Market environment that surrounds us. The stock market selloff that began in April got some more juice this week: Best Buy’s profit fell again, this time 25%; and consumer staple cereal maker General...
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Facebook fell flat on the first day if its highly anticipated initial public offering (IPO). The stock opened at $42 per share and then quickly rose to $45 – before dropping like a hot rock to a dismal first day close of $38.23. That was Friday, May 18th. On Monday, day two, facebook closed at...
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Further to my blog: Stay Ready, Be Patient, I have a few more points to make about credit risk, interest rates, bonds, and high yield mutual funds – but first, some irony. On May 28, 2012 the aforementioned blog asked rhetorically, “Wouldn’t it be interesting if they [Greece and Spain] struck a new deal with [the IMF]?...
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The ugliness at JP Morgan Chase continues to top headline news. Even though it’s a really bad situation there, it is just one bad apple in what has become a truly spoiled bunch. Banks are in terrible shape all over the world. Greece and Spain have experienced significant cash runs on their banking systems because,...
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I would love to blog today about the competition between Spain and Greece – which country will steal the headlines, and who is in worse shape.  But today I don’t care about them, or their problems. Today I care most about those being screwed the most with the current U.S. financial condition. U.S. senior citizens –...
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Spain, not Greece, continues to headline news from across the pond. There is real trouble in Europe. Here is a sample of recent Wall Street Journal headlines in the past several days: Spain’s Unemployment Jumps, Deepening Crisis (4.27.2012) Data Deepen Spanish Gloom (4.30.2012) Hollande, Sarkozy Square Off in France in key Vote for Euro Zone...
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May 02, 2012 Those who have read my book know that I grew up in the inner city.  It was there I learned that a seasoned con-artist could be more sincere and convincing than Mother Teresa. Daunting economic conditions can easily make you question yourself, the conventional approach, and your options going forward. Let me...
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Every time I write one of these blogs I try to talk in real terms.  In other words – I always try to keep it real.  But today I am going to talk in Real terms – that is, adjusted for inflation. Inflation, you may recall from my book, is not growth but a general rise in prices....
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