Obviously the cleanup crew they have on call for the Pentagon is much more efficient, than the one in Lagos.
Jun 4, 2012 by AlJazeeraEnglish
Tuesday, June 5, 2012
Nigerian plane crash
Amazing a plane crashes into a reinforced concrete building yet you can still see bits of plane everywhere.
Obviously the cleanup crew they have on call for the Pentagon is much more efficient, than the one in Lagos.
Obviously the cleanup crew they have on call for the Pentagon is much more efficient, than the one in Lagos.
'Banks rob us!' Canadian girl becomes Internet sensation after exposing banksters
Jun 4, 2012 by RTAmerica
Economists around the world are struggling to break free of the clutches of the financial crisis. But a twelve-year-old Canadian knows what needs to be done. Victoria Grant took the Internet by storm overnight, after a video of her slamming Canada's banks for robbing the people went viral. RT talks to internet sensation Victoria Grant and her mother Marcia Grant.
Economists around the world are struggling to break free of the clutches of the financial crisis. But a twelve-year-old Canadian knows what needs to be done. Victoria Grant took the Internet by storm overnight, after a video of her slamming Canada's banks for robbing the people went viral. RT talks to internet sensation Victoria Grant and her mother Marcia Grant.
Robert Prechter on the Bullishness of an EU Breakup and the coming Global Deflation
Jun 4, 2012 by CapitalAccount
Welcome to Capital Account. Billionaire hedge fund manager George Soros says the EU is like a bubble and authorities will not be able to meet the demands of the market coming up. It doesn't keep Eurocrats from pushing for new master integration plans. But are they doomed to fail when the mood is this negative? Was the very formation of the EU made possible by a secular bull market and the psychology that accompanies it? We are talking about bull market mania. RobertPrechter, founder of Elliot Wave International, joins us to explain.
Welcome to Capital Account. Billionaire hedge fund manager George Soros says the EU is like a bubble and authorities will not be able to meet the demands of the market coming up. It doesn't keep Eurocrats from pushing for new master integration plans. But are they doomed to fail when the mood is this negative? Was the very formation of the EU made possible by a secular bull market and the psychology that accompanies it? We are talking about bull market mania. RobertPrechter, founder of Elliot Wave International, joins us to explain.
Egan Jones Downgrades The UK From AA To AA-
From ZeroHedge.com
When one is expected to go down for missing a comma in their NRSRO application, one at least should go down swinging. Sure enough, Egan-Jones, the only rating agency with any credibility left, is at it again, this time cutting the big momma itself - the UK - from AA to AA-.
6/4/2012: United Kingdom: EJR lowered AA to AA- (Neg.) Projected A+ (S&P: AAA) (6152Z LN)Synopsis: On the balance of payment side, imports have exceeded exports by an average of approximately 500B pounds annually over the past several years. The major problems for the UK is that Europe's banking crisis does not appear to be abating as evidenced by the miserable results of most EU banks. On the fiscal side, the deficit to GDP has declined over the past three years from 11.5% to 8.3%, which is a respectable decline, but the bulk of the reduction was the result of increased taxes since GDP growth was weak. The over-riding concern is whether the country will be able to continue to cut its deficit in the face of weaker economic conditions and a possible deterioration in the country's financial sector. Unfortunately, we expect that the UK's debt/GDP will continue to rise and the country will remain pressed.
Full report here.
This chart may have something to do Egan-Jones decision:
Monday, June 4, 2012
Global fears wipe another $24b off the Aussie market
From SMH.com.auOriginal source
Australian shares slumped to a six-month low today as investors joined a global flight out of risky assets, triggered by fresh concerns over a global economic slowdown after anemic US jobs figures and soft Chinese factory data.
The benchmark S&P/ASX200 index plunged 78.9 points, or 1.9 per cent, to 3985, losing grip on the psychological 4000 level and hitting its lowest mark since November 25. The broader All Ordinaries index lost 83.5 points, or 2 per cent, to 4033.4.
Among the sectors, energy stocks fell 3.3 per cent, materials dropped 2.8 per cent and financials lost 1.7 per cent. Gold miners and telcos were the only two sectors to post gains, adding 2.7 and 0.5 per cent respectively.
The day's losses wiped another $24 billion off the market's value and took the slump since May 1 to 10.4 per cent, meeting the usual definition of a market correction. For the year, the benchmark index is down 1.75 per cent.
Read more: http://www.smh.com.au/business/markets/global-fears-wipe-another-24b-off-market-20120604-1zqla.html#ixzz1wozU1p1p
Of course you could have just bought gold and not worried about all this white noise.
Buy Bullion Bounce?
Ha ha the world is coming apart at the seams and a very small percentage of the world thinks that a little bit of gold might be wise as insurance and yet the boofheads on CNBC see it as the best shorting and put option play on the table. Very sad, some people just can't be saved. If you are going to play the long and short games, I think you would be better to go short JPM and go long Gold and Silver, just don't do it in the nude.
Worst Day of Year for Stocks
Classic MSM comment. Couldn't bring themselves to mention that Gold was up 4%, the best one day move in 3 years.
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