tag:blogger.com,1999:blog-6418112515382102078Mon, 30 Nov 2009 14:31:59 +0000"For the word of redemption is foolishness to those who are being destroyed, but to those who will be saved it is the power of the Spirit." 1 Cor 1:18http://jessescrossroadscafe.blogspot.com/arthurcutten@yahoo.com (Jesse)Blogger1550125tag:blogger.com,1999:blog-6418112515382102078.post-2823131247333072285Mon, 30 Nov 2009 03:26:00 +00002009-11-29T22:51:06.082-05:00Timmy and the Merry Pranksters at the Treasury and the Fed are throwing taxpayer money at the financial sector with the same prudence with which Angelo Mozilo used sunblock.When the US financial system tumbles there should be little doubt where Ben, Tim, Larry, and their Boss failed the American taxpayer and all holders of US debt.Ratings fraud and accounting deception will continue until http://feedproxy.google.com/~r/JessesCafeAmericain/~3/gTKA50enyTE/dangerous-us-financial-sector.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/gTKA50enyTE" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/dangerous-us-financial-sector.htmltag:blogger.com,1999:blog-6418112515382102078.post-8426458594459576876Sun, 29 Nov 2009 15:29:00 +00002009-11-29T13:00:03.594-05:00generational memorymonetary theorycyclesUS monetary historyWe are not big believers in comprehensive cycle theory. The weakness of cycles is the same as all systems that seek to impose an external order on natural events and occurrences: one can always find something to fit in a less rigorously defined methodology. This applies from biblical prophecy codes based on the placement of words and letters, to cycle and wave theories with a wide range of http://feedproxy.google.com/~r/JessesCafeAmericain/~3/wfRHU17cZgo/38-year-cycle-in-us-monetary-history.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/wfRHU17cZgo" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/38-year-cycle-in-us-monetary-history.htmltag:blogger.com,1999:blog-6418112515382102078.post-5234475384334353348Sat, 28 Nov 2009 15:50:00 +00002009-11-28T11:03:10.683-05:00BloombergMark Pittman, Reporter Who Foresaw Subprime Crisis, Dies at 52By Bob IvryNov. 28 (Bloomberg) -- Mark Pittman, the award-winning investigative reporter whose fight to open the Federal Reserve to more scrutiny led Bloomberg News to sue the central bank and win, died Nov. 25 in Yonkers, New York. He was 52.Pittman suffered from heart-related illnesses. The precise cause of his death wasn’t http://feedproxy.google.com/~r/JessesCafeAmericain/~3/q2ixw5BwyGU/mark-pittman-investigative-journalist.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/q2ixw5BwyGU" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/mark-pittman-investigative-journalist.htmltag:blogger.com,1999:blog-6418112515382102078.post-654703983917118454Sat, 28 Nov 2009 04:46:00 +00002009-11-27T23:55:40.594-05:00A bit overstated and at times over the top, at least to my tastes.However, it is important to hear the issues raised here, and to be aware of them. The documentary settles down after the first ten minutes and presents several thought-provoking ideas and observations.Obviously one may likely not agree with them all, but again, listening to different perspectives helps us to calibrate where we http://feedproxy.google.com/~r/JessesCafeAmericain/~3/nqqWezou4sY/weekend-viewing-fall-of-republic.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/nqqWezou4sY" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/weekend-viewing-fall-of-republic.htmltag:blogger.com,1999:blog-6418112515382102078.post-8890714750984163895Fri, 27 Nov 2009 18:02:00 +00002009-11-27T14:15:00.381-05:00SP Daily Chartmarket manipulationUS Dollar Daily ChartNDX Daily ChartToday was 'Family Day' at the New York Stock Exchange. No it is not the day in which the boys celebrate the families which they have made homeless, the retirements they have ruined, and the faces they have ripped with their lugubrious bump and grind.It is a day on which the junior people, semi-professional greeters, and B class spokesmodels who are stuck working on a long holiday weekend bring http://feedproxy.google.com/~r/JessesCafeAmericain/~3/Y3qHVtmPJRU/family-day-at-new-york-stock-exchange.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/Y3qHVtmPJRU" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/family-day-at-new-york-stock-exchange.htmltag:blogger.com,1999:blog-6418112515382102078.post-4434350224942201802Fri, 27 Nov 2009 07:10:00 +00002009-11-27T12:59:32.009-05:00SP Daily ChartNDX Daily ChartWhile Americans were celebrating their Thanksgiving Day holiday, the rest of the world gobbled 40 points from the December SP 500 futures.Bears are doing high fives and the serial top callers are rolling.Let's see if the correction will continue after the pilfering pilgrims are back on their prop desks.Then again, maybe the Reverend Lloyd is just bringing in the sheaves. Why waste a crisis?Up thehttp://feedproxy.google.com/~r/JessesCafeAmericain/~3/VPxFRb51NXQ/silence-of-turkeys.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/VPxFRb51NXQ" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/silence-of-turkeys.htmltag:blogger.com,1999:blog-6418112515382102078.post-6823406238684299809Thu, 26 Nov 2009 00:48:00 +00002009-11-26T22:44:04.230-05:00evolutionary changegoldfinancial engineeringWhy do so many people continue to turn their noses up at an investment with returns like those listed below? And not only that, why do small groups continue to aggressively attack the very notion that it is genuine, a real trend, a development with appeal across many nations and people, a sustained market trend that is telling us something?Returns, I might add, that are supported by very strong http://feedproxy.google.com/~r/JessesCafeAmericain/~3/Z7tG0oS9tEM/jesses-conundrum-and-tide-of-history.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/Z7tG0oS9tEM" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/jesses-conundrum-and-tide-of-history.htmltag:blogger.com,1999:blog-6418112515382102078.post-3441671875992547908Wed, 25 Nov 2009 14:44:00 +00002009-11-27T05:04:10.087-05:00monetary crisisgoldmonetary theoryGold is a superior store of value.It resists the attempts by the monetary authorities to debase it, because except for concerted attempts to suppress its price through non-profitseeking selling at key market points by central banks, and naked short selling by the global commercial banks in the paper markets, gold cannot be created and controlled by financial engineers like Ben Bernanke.It http://feedproxy.google.com/~r/JessesCafeAmericain/~3/GHqzLMPmmDk/gold-is-rallying-because.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/GHqzLMPmmDk" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/gold-is-rallying-because.htmltag:blogger.com,1999:blog-6418112515382102078.post-7971463351346457995Tue, 24 Nov 2009 19:41:00 +00002009-11-24T17:16:33.675-05:00Tobin Taxfinancial transactions taxfinancial reformThe purpose of a Tobin Tax is to place a financial penalty on short term transactions to curb speculation. It was originally proposed by James Tobin in the 1970's as a means of discouraging international currency speculation after Nixon closed the gold window and rendered the Bretton Woods agreement moot, at least until the ascendancy of the current dollar reserve currency system.The tax is http://feedproxy.google.com/~r/JessesCafeAmericain/~3/_RO9sP_6aFk/what-is-this-tobin-tax.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/_RO9sP_6aFk" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/what-is-this-tobin-tax.htmltag:blogger.com,1999:blog-6418112515382102078.post-2833652797930965996Tue, 24 Nov 2009 16:31:00 +00002009-11-24T14:35:51.620-05:00DeflationDavid Goldman says in the Asia Times that "It’s Still the Worst Deflation in US History." He shows a chart (below) of US commercial lending to prove his point.Asia TimesIt’s Still the Worst Deflation in US HistoryNovember 18th, 2009By David GoldmanThis morning’s news that housing starts “unexpectedly” dropped by 11 percent month on month is consistent with my grim view of the American economy. http://feedproxy.google.com/~r/JessesCafeAmericain/~3/PSfnWew51uU/massive-deflation-sighting-noted-in.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/PSfnWew51uU" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/massive-deflation-sighting-noted-in.htmltag:blogger.com,1999:blog-6418112515382102078.post-1048357840062271105Tue, 24 Nov 2009 14:39:00 +00002009-11-24T12:13:09.400-05:00monetary theoryfinancial engineeringStimulus SpendingKeynesianismmonetary inflationfinancial reformbailoutsThe purpose of monetary and fiscal stimulus in economics is similar to the use of anesthesia and antiseptics during an important surgical procedure to correct some systemic difficulty, some disease, some serious problem in a patient. They enable the procedure, help the patient get through it without excessive pain and death from infection or systemic shock.To apply stimulus and the other http://feedproxy.google.com/~r/JessesCafeAmericain/~3/aWOsl1h-fpw/last-bubble.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/aWOsl1h-fpw" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/last-bubble.htmltag:blogger.com,1999:blog-6418112515382102078.post-6438739623092753393Mon, 23 Nov 2009 19:07:00 +00002009-11-23T15:24:58.479-05:00contrariandollar devaluationdollar bear marketContrarians might take some cheer from dollar bearishness, but one needs to be aware that not everything that is fundamental and recognizable is overdone and wrong.Markets do overrun their trends, especially on the short term and by amateur speculators, setting up very nice opportunities for the professional market makers. The attractiveness of being a 'contrarian' is that when you are right you http://feedproxy.google.com/~r/JessesCafeAmericain/~3/0V7fWB0PLQs/us-dollar-is-in-secular-bear-market-and.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/0V7fWB0PLQs" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/us-dollar-is-in-secular-bear-market-and.htmltag:blogger.com,1999:blog-6418112515382102078.post-1615232139267905051Mon, 23 Nov 2009 17:40:00 +00002009-11-23T15:09:22.762-05:00blame for financial crisisfinancial reformThis video is well worth watching to provoke thought and provide a perspective which you may not obtain from the mainstream media, particularly in the StatesNaomi Klein, Howard DeSoto, and Joe Stiglitz on Economic Power and the Financial Crisis in the USHas the American system failed? What is the American system of markets?Is the US becoming a 'banana republic' and if so how has this happened?http://feedproxy.google.com/~r/JessesCafeAmericain/~3/CTSzfhswURI/has-american-model-of-capitalism-failed.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/CTSzfhswURI" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/has-american-model-of-capitalism-failed.htmltag:blogger.com,1999:blog-6418112515382102078.post-4396263468838567563Mon, 23 Nov 2009 14:12:00 +00002009-11-23T10:56:41.473-05:00This news story is what is known in American parlance as a 'trial balloon.' It is a little leak to the press to assess the public and media reaction to a proposed change.The game plan appears to be one of creating change you can believe in by replacing Bernanke and Geithner with Larry Summers, currently Obama's chief economic advisor and financial Rasputin, and Jamie Dimon, the CEO of J. P. http://feedproxy.google.com/~r/JessesCafeAmericain/~3/Q88v6_sZniU/dimon-touted-as-replacement-for.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/Q88v6_sZniU" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/dimon-touted-as-replacement-for.htmltag:blogger.com,1999:blog-6418112515382102078.post-3707309250217043031Sun, 22 Nov 2009 16:26:00 +00002009-11-22T18:14:07.434-05:00The increase in the monetary base created by the Fed's monetization of debt is striking, not seen since the early stages of the Great Depression.Banks are not lending despite the massive quantitative easing. They are fat with reserves, paying huge bonuses again, and obviously doing something with their money other than providing funds for the commercial activity of the nation.Excess Reserves are http://feedproxy.google.com/~r/JessesCafeAmericain/~3/1lUcIltMNps/us-commercial-banks-turkeys-are-stuffed.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/1lUcIltMNps" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/us-commercial-banks-turkeys-are-stuffed.htmltag:blogger.com,1999:blog-6418112515382102078.post-5640014281703874121Fri, 20 Nov 2009 20:11:00 +00002009-11-22T10:27:33.834-05:00SP weekly chartSP Daily Chartgold weekly chartThe SP is looking a little 'heavy' going into a holiday short weekend in the States. This is where the bulls need to hold the trend.Here is where we find out if the Fed and Treasury effort to reflate the financial asset sector will 'stick' or not. Their approach to the bailouts was a political policy error of the first order, almost shockingly naive to see from an Administration headed by skilledhttp://feedproxy.google.com/~r/JessesCafeAmericain/~3/E87NGVM5XdI/gold-and-sp-500-charts.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/E87NGVM5XdI" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/gold-and-sp-500-charts.htmltag:blogger.com,1999:blog-6418112515382102078.post-3235380873082577345Fri, 20 Nov 2009 01:49:00 +00002009-11-21T14:42:22.480-05:00gathering stormEquities are floating on thin volumes and thick liquidity. It may float further, and await any event to end this rolling top and spark selling that could be quite impressive.But for now stocks are range bound, within a mild uptrend. Here is Steve Meyers view.http://feedproxy.google.com/~r/JessesCafeAmericain/~3/AAW-qReaPuM/steve-meyers-rolling-top-in-us-stocks.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/AAW-qReaPuM" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/steve-meyers-rolling-top-in-us-stocks.htmltag:blogger.com,1999:blog-6418112515382102078.post-9019838821594774805Thu, 19 Nov 2009 23:31:00 +00002009-11-21T14:41:30.657-05:00quantitative easingnegative interest ratesToo many dollars chasing too few opportunities because of mispriced risk, so they are piling into short Term Treasuries again.Grab something solid and hold on tight. Could be rough seas ahead.Three Month T Bill Rates Go Negative On Concern Risk Rally OverdoneBy Cordell EddingsNov. 19 (Bloomberg) -- Treasury three-month bill rates turned negative for the first time since financial markets froze http://feedproxy.google.com/~r/JessesCafeAmericain/~3/_a2Q-kVJOQA/short-term-t-bills-go-nominally.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/_a2Q-kVJOQA" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/short-term-t-bills-go-nominally.htmltag:blogger.com,1999:blog-6418112515382102078.post-8025271703673889053Thu, 19 Nov 2009 19:58:00 +00002009-11-21T14:41:59.496-05:00price discoverycommodity pricesnatural gasAn intriguing divergence for two funds that are purported to have a .99 correlation and are tracking essentially the same thing.Right now, for example, UNG is down .67% for the day and GAZ is up .61%.UNG is considerably more 'liquid' as they say on the Street. Does that make it a more efficient price discovery mechanism?Or more amenable for gaming the retail markets?http://feedproxy.google.com/~r/JessesCafeAmericain/~3/KNWZHoo3CCI/gaz-and-ung-classical-gas.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/KNWZHoo3CCI" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/gaz-and-ung-classical-gas.htmltag:blogger.com,1999:blog-6418112515382102078.post-1494834493824439371Thu, 19 Nov 2009 15:24:00 +00002009-11-22T10:55:49.785-05:00Wall Street banksderivativesfinancial engineeringfinancial reform“Hindsight is a wonderful thing,” said Timothy W. Long, the chief bankexaminer for the Office of the Comptroller of the Currency. “At the height ofthe economic boom, to take an aggressive supervisory approach and tell people tostop lending is hard to do.” Post Mortems Reveal Obvious Risks at Banks, NY TimesWell, the boom is over, so what about now?The current notional value of derivatives on US http://feedproxy.google.com/~r/JessesCafeAmericain/~3/7IOl5Ve0n10/failure-to-regulate-will-continue-until.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/7IOl5Ve0n10" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/failure-to-regulate-will-continue-until.htmltag:blogger.com,1999:blog-6418112515382102078.post-7036079812108121261Thu, 19 Nov 2009 14:42:00 +00002009-11-19T14:18:00.558-05:00SP Daily Chartfinancial engineeringJust another day doing God's work on earth..."Hello Lloyd? Yeah, Larry and I were talking, and we would like to see the market go up, not too fast, but on a nice gentle slope, within a range.Whatever gains you make doing this are yours to keep. Ben will supply the liquidity. We need to make it look like the Administration's policies are working.And most Americans will think they are if the stock http://feedproxy.google.com/~r/JessesCafeAmericain/~3/9-Du73zVwPk/sp-500-daily-chart-pete-and-repeat-were.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/9-Du73zVwPk" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/sp-500-daily-chart-pete-and-repeat-were.htmltag:blogger.com,1999:blog-6418112515382102078.post-8594577460588483813Wed, 18 Nov 2009 17:14:00 +00002009-11-18T14:39:11.019-05:00Housing BubbleHousing CrashHere is the graph associated with a view of the deflating housing bubble that shows we have appreciably fallen, further than the 25% in the blog entry from yesterday.For the details on this view read here.It appears that both sets of numbers, the ones above and the ones from yesterday, have been adjusted somewhat. The numbers from yesterday are Indexed to 1980 = 100, and are therefore a http://feedproxy.google.com/~r/JessesCafeAmericain/~3/Il1ejf4D30Y/housing-prices-have-fallen.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/Il1ejf4D30Y" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/housing-prices-have-fallen.htmltag:blogger.com,1999:blog-6418112515382102078.post-7291142690785860310Wed, 18 Nov 2009 03:19:00 +00002009-11-18T12:14:39.949-05:00commercial real estateHousing CrashInteresting chart to say the least.Ben is pumping the money buttons so hard that the trend may be realized a bit higher in nominal terms once inflation kicks in.But it may not yet be the best time to buy that new home, unless it is done for a primary residence, and with great care. As forecast here several times earlier this year, commercial real estate will be a train wreck in 2010. That should http://feedproxy.google.com/~r/JessesCafeAmericain/~3/dihyNqCGYHc/have-home-prices-only-fallen-14-of-way.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/dihyNqCGYHc" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/have-home-prices-only-fallen-14-of-way.htmltag:blogger.com,1999:blog-6418112515382102078.post-1196300509570089449Tue, 17 Nov 2009 21:02:00 +00002009-11-17T19:34:59.529-05:00NAV of precious metal fundshttp://feedproxy.google.com/~r/JessesCafeAmericain/~3/EWjRq9UcMA4/nav-of-certain-precious-metal-funds-and.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/EWjRq9UcMA4" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/nav-of-certain-precious-metal-funds-and.htmltag:blogger.com,1999:blog-6418112515382102078.post-1119267171268654414Mon, 16 Nov 2009 17:42:00 +00002009-11-17T10:14:53.084-05:00buitergold bogeysMr. Buiter, advisor to central banks and to Godless Sachs, is at it again, comparing gold to Yap Island stone money, ranting against those who would trade valuable bank paper for something that he does not like, (but has endured as a store of wealth nonetheless for thousands of years).Once is a phenomenon, but twice is a trend. What can be dismissed as a crank rant must now be seen as a symptom http://feedproxy.google.com/~r/JessesCafeAmericain/~3/nuIZoyTOJjQ/buiter-obsessing-on-gold.htmlarthurcutten@yahoo.com (Jesse)<img src="http://feeds.feedburner.com/~r/JessesCafeAmericain/~4/nuIZoyTOJjQ" height="1" width="1"/>http://jessescrossroadscafe.blogspot.com/2009/11/buiter-obsessing-on-gold.html