Thursday, June 30, 2011

Jim Rogers Talks Greece, Remains Long Euro

In the spirit of austerity (sans bow tie), Jim Rogers cuts through the political rhetoric and banker platitudes by explaining simple truths about the current state of affairs.

This is What Happens When You Run Out of Other People's Money

Goldman Sachs: Government Shouldn't Embrace Austerity, But We Can

Goldman Sachs warned in February that if the Government embraced any budget cuts it would hurt the economy and drag down GDP.

Apparently, just like their forecasts, they've changed their mind. Or at the very least, have decided to say one thing & do another - which we know never happens.

Certainly cutting $1 Billion in expenses this year is not embracing austerity, right?

Today Goldman told the NYS Department of Labor that they could potentially be laying off ~230 people, citing "economic reasons."

Read the entire article here.

Wednesday, June 29, 2011

Herman Cain Hammers Obama In Newly Released Video

Game On.

Obama: Are We Really Going To Pay The Chinese Instead of Entitlements?

Our fearless leader took to the podium once again (unclear if joined by his teleprompter), to discuss the debt ceiling.

He frames yet another great argument for increasing our debt:

"Are we really going to pay interest to Chinese who hold treasuries, and we're not going to pay folks their social security checks?"



Just remember, he's not interested in passing out blame. And moreover, the buck stops with him! Kind of. Ok, not really.

GDX diverges from GLD

Insomniac Clip of the Evening: Joe Biden's Greatest Hits

Our favorite is 2:42 in, but they're all classic.

Enjoy

Flashback: Milton Friedman Offers Perspective on the Capitalism vs. Socialism Debate

Milton Friedman reminds us to keep in perspective how much we really do have relative to other countries - and that it was brought to us via Capitalism.

"When all is said and done, while there are people in this country who are worse off than other people, by and large, even the poorest people in this country are relatively well off compared to the conditions in many other countries in the world."

He also warns us that pursuing socialism will lead to the loss of both equality and liberty.

"In my opinion, a society that aims for equality before liberty, will end up with neither equality nor liberty"

Tuesday, June 28, 2011

Flashback: Alan Grayson Tells Vikram Pandit to Get The Fuck Out

Heads I win, tails you lose.


We at Boiler Room say to Pandit: GET THE FUCK OUT OF HERE.

Update: Dollar Seen Losing Global Reserve Status

The Financial Times reported today that a survey of central bank reserve managers predicts that the Dollar will lose its status as the world's reserve currency within the next 25 years.

As we discussed here, and here, we firmly believe that the Dollar is in very serious trouble with respect to its status as the world's reserve currency.

The survey was conducted by UBS, and consisted of more than 80 central bank reserve managers, sovereign wealth funds, and multilateral institutions with more than $8 Trillion in assets.

Read the full story here.

Cap & Trade - Nothing More Than A Stealth Way To Redistribute Wealth

You've heard it all by now. Cut greenhouse gases, SUV's are evil, the Earth has a temperature, the Coca-Cola bear has no ice to sit on.

We have seen CNBC become a mouthpiece for "Green Energy", and the President of the United States promise to put solar panels on the White House.

Now, we're not going to get into the debate on whether or not the science supports Al Gore & his chakra, but we will take a quick look at whether or not this could be a giant scheme to redistribute wealth.

Cap & Trade, in a nutshell, is a system whereby a corporation has to purchase permits from regulators in order to release carbon into the atmosphere. The sneaky thing is that the amount of credits you are allowed to buy from the Government is capped. So, when a large corporation runs out of permits, where will it be able to buy more? The answer: Smaller, less productive corporations who have more permits than they actually need. Take wealth from one corporation (or country), and give it to another - pretty clever scheme.

That's all well and good you say, but certainly that's just a theory, and there is no formal exchange in place to facilitate these transactions. Wrong. There is in fact a fully operational exchange called Chicago Climate Exchange (CCX). See members here.

Well, it can't be very big, and probably doesn't have much potential you say. Wrong. Founder of CCX Richard Sandor claims it's a $10 Trillion dollar a year market.

Dick & his extremely creepy hat sat down to discuss this market with Bloomberg - He doesn't seem the least bit shady.



Currently, this exchange is voluntary, but not if the Obama administration has anything to say about it. Last year President Obama tried to ram through Cap & Trade legislation before the November elections but couldn't get enough support.

President Obama is a huge proponent of this system, and lest we forget he likes to "spread the wealth around"



Probably the most frightening thing about all of this, is that President Obama admitted that his plan, if signed into law, would in fact cause electricity rates to "necessarily skyrocket." Hopefully he isn't able to mobilize enough citizenruh to get this back in front of Congress in any serious fashion.




The U.K. has it's foot in the door on this nonsense, we'll see how that all works out for them.

If you begin to connect the dots, President Obama has been targeting this for some time now. He admits he wants to spread the wealth around, and he's got just the tool to do it (CCX). The only thing standing in the way of America losing even more wealth is Congress - and we see what the President thinks about congress.

Do some more digging on this, we think you'll find it very interesting.

Monday, June 27, 2011

Do As I Say, Not As I Do - Congress Sneaks In Over $6 Million In Staff Bonuses

As Congress and the Obama administration publicly ridicule Wall Street for their "fat cat" ways, they're privately sneaking in bonuses for their own employees.

A recent CNN Investigation uncovered ~$6 million dollars worth of bonuses that were handed out to congressional staffers - well hidden in a House expense report.

We hear "Let them eat cake" is one of the most popular screen savers on Capitol Hill.



And just for laughs, here is President Obama laying into Wall Street for their bonuses.

Documentary: Money as Debt

This 50 minute documentary takes a look a the nature of the modern monetary system. The film analyzes how fractional reserve banking creates money and relies on a perpetual expansion of debt to sustain itself. Fellow serfs, we recommend you watch it.

Unemployment: Something's Gotta Give

The cheapest way for companies to avoid paying for health insurance, competitive or minimum wages, anti-sexual harassment and diversity sensitivity training, workplace accessibility and safety provisions, domestic emission standards, and other costs imposed on them the second you become an employee of their firm, is to not hire you in the first place. Cha-Ching!

Thanks to endless government mandates, the quickest way to kill the market capitalization of an American firm is to expand its American work force. And, of course, pegged exchange rates by foreign governments only help to exacerbate the difference between domestic and foreign labor costs. The high domestic cost of labor has resulted in the proverbial 'sucking sound' of jobs being outsourced abroad. Not that there's anything wrong with that, except for when it is. In a world unencumbered by central planners, jobs will always be created, destroyed, and reallocated by way of competitive (dis)advantages and technological advancements -- ain't nothing wrong with that. But, when governments get involved in economic central planning, they retard the markets from readjusting toward a true equilibrium demand for jobs and price level of wages.

If it isn't already clear, the purpose of this post is to elucidate a simple, but often overlooked, point: Something's gotta give. The only way to get labor participation to return to its previous highs and unemployment to its lows, whether undertaken proactively or unwillingly (See: Greece), will be for Americans to accept lower real wage rates. We don't think that this necessitates a lower standard of living for all Americans. Sure, $0.99 stores that are currently filled with Chinese products will become $7.99/stores, LCD TVs may have to be purchased less frequently than twice a year, and, dare we say, Apple may have to lower its profit margins. But the end result will actually be net positive long term since a lower cost of labor will fulfill what Bernanke cannot; low unemployment and a stronger domestic economy.

Until that time comes, the grand Keynesian experiment will continue, with governments worldwide trying to create economic prosperity while achieving precisely the opposite.


Sunday, June 26, 2011

U.S. Deficit Spending & the 10-yr Yield - Where's Geithner's Incentive?

The current yield on the U.S. 10-yr is ~2.87%. The concerning thing is that it is down ~47% since July 2001.


With the reluctance by any political party in the United States to address Federal spending in any meaningful way, we wonder what the incentive is for Tim Geithner to stop borrowing to finance the debt.


China Center For Economic Research: Time Is Right For Yuan's Full Convertibility

As we recently warned, China is very serious about replacing the $USD as the world's reserve currency. Recently at a Global Think Tank Summit in Beijing, a leading economist at the China Center for Economic Research said:

"China's timing for realizing the yuan's full convertibility into other currencies is already mature enough to facilitate yuan's internationalization, and the country will be able to liberalize currency exchange rates in three years"

Three years. As the push for a new world currency continues, the Chinese may have tipped their hand as to the timeline they are working with to get themselves prepared to be a major player in world currency - and consequently the timeline the United States has to get it's fiscal house in order.

As politicians play patty cake in Washington, China is preparing to exit the Dollar in order to help form a new basket of world currencies that the IMF supports.

What happens when China (and the rest of the world) no longer needs to hold all those trillions in $USD reserves? What happens when the Chinese no longer need to fund American consumerism, knowing that the Dollar will be so worthless it can no longer purchase half of what it used to?

Once again we warn that the United States better get serious about their finances, and quickly. Not only the Federal Government, but individual households as well.

When, not if, but when the Dollar is not necessary to settle all debts, the demand for the Dollar significantly, and quickly, decreases. With all of the Dollar's in circulation, the value will plummet - welcome to a modern day Weimar Republic. Jim Rogers has been warning that American's need to focus more on building more trade skills, and worry less about landing that flashy Wall Street job - this is precisely why.

By the way, Jim Rogers moved to Singapore in 2007, and is making his children learn Chinese. Just something to think about as President Obama & Speaker Boehner play golf instead of working.

h/t JEliasof

New York Times Business Columnist: People of Kansas & Missouri Have "Low Sloping Foreheads"

As if you needed another example of the media being completely elitist and out of step with everyday Americans - New York Times "business columnist" David Carr recently was on Bill Maher's show and exposed himself as the piece of shit elitist he is.

When discussing the "sophistication" of states, Carr, chin up & chest out, said proudly:

"I think if it's Kansas, if it's Missouri, no big deal -- that's the dance of the low sloping foreheads"

Low sloping foreheads is New York Times speak for unintelligent. This is the type of knowledge $NYT wants people to pay for - which is the reason Subway meals are valued as much as their stock.

Stay classy.



CFTC Chief Gary Gensler Admits Impotence of His Organization

Gary Gensler spoke at the WSJ CFO Network forum. For those interested in viewing the entire clip, most of the interesting content is at the end during Q&A, although Gary does discuss Risk Redoucheing during an earlier part of the segment.

Saturday, June 25, 2011

Flashback: Alan Grayson Questions Bernanke on $500 Billion in Foreign Bank Lending

Following a recent expose' by ZeroHedge on the stealth $600 Billion bailout of foreign banks, we urge you to take a look at this exchange between former Rep. Alan Grayson and Bernanke on Fed's blatant bailout of the world's banking system.


Nevada Fires Back at Meredith Whitney

The drama continues to unfold in the wake of Meredith Whitney's Municipal default prediction last December.

Earlier this month, Meredith Whitney visited CNBC and confirmed that she is in fact still standing by her call. During that interview, Whitney made some unflattering comments about the state of Nevada's finances.

Friday, Nevada state Treasurer Kate Marshall came on to CNBC to dispute Whitney's comments. She did not mince words.

"I can't speak for Ms. Whitney ... but I do have to say it would be nice if she did a little homework, drilled down a little bit into what those numbers are"



So who is right? Only time (and Charlie Gasparino) will tell.

Six Months Later: Meredith Whitney Discusses Her Muni Call

Meredith Whitney has been under intense scrutiny since her bold call last December on Municipal bond defaults. She sat down with CNBC earlier this month to discuss the status of the Muni market, and whether or not she still believes in her prediction.

"I think about my thesis all the time. It's my job to be right so I better be right. it from a timing perspective if the market moves against me for a month or two months, you know, I'm -- I know I'm right"


Friday, June 24, 2011

Flashback: Ron Paul Throws Common Sense at the Treasury Secretary

"You listed as number one, the monetary policy was too loose, too long. If monetary policy way too loose, lasted too long, how can you say well this is the real problem so we'll double the money supply? Interest rates were too low at 1%, let's make them 1/4% - how can you reconcile this just on common sense?"

Boiler Room Presents: GTFO - Timothy Geithner

Treasury Secretary Tim Geithner says of course he supports increasing taxes on small businesses - otherwise you'd have to shrink the size of government.



We at Boiler Room say to Turbo Timmy: GET THE FUCK OUT OF HERE

New World Reserve Currency Plan Set In Motion as America Awaits New Season of Jersey Shore

As America wonders if Ronnie and Sammi will ever get their shit together at the Jersey Shore, a plan to replace the world's reserve currency is being set in motion. And along with that comes a significant shift in global power.

We believe that China is actively leading a movement to establish a new world reserve currency. This is a very significant issue, and the mainstream media is (predictably) not covering it in any depth at all. As usual, our friends at ZeroHedge have been covering this, but you'd be hard pressed to find more than an opinion article here and there elsewhere in the media. We are trying to raise the flag as best we can.

China, the largest holder of U.S. Treasuries & USD reserves in the world, began to make some noise back in 2007, when it warned the United States that a "Nuclear Option" was on the table (which would rapidly liquidate holdings of U.S. Treasuries) if Congress tried to bully them into letting the Yuan appreciate. Ironically, our fearless leaders are still playing with fire today.

Between the inflation the United States has caused around the world, and the ridiculous attempt by Washington to tell China what to do with it's currency, it seems as though China has had enough of the games. In November of last year, China and Russia came to an agreement whereby they would not use the USD to settle debts between them. Instead, they would use their own currencies.

We believe this was just the tip of the iceberg. Just last week, Russian & Chinese leaders hosted a Global Economic Forum. During this meeting, China President Hu Jintao said "the global economic order is undergoing profound changes" & called to "enhance global economic governance."





And George Soros, one of the richest men in the world, has also been calling for a new world reserve currency. You remember George, the guy who collapsed the British Pound .





Also, the IMF (dirtbag directors and all), proposed a new world currency as recently as February. And just to add insult to injury, Goldman Sach's was at the Global Economic Forum last week, and they are already positioning themselves to front run any changes.

We surmise that a new world reserve currency is not far off. Nobody is telling the truth about the severity of our economic condition, or the fact that others are taking full advantage of this crisis to rebalance world power. Soaring interest rates along with hyperinflation is waiting just around the corner for the United States if things do not change in a hurry. Hopefully it is not too late.

Tuesday, June 14, 2011

New Footage of Lloyd Blankfein's Testimony Surfaces

Boiler Room has obtained exclusive footage of some additional testimony given by Lloyd Blankfein to Congress in regards to the role Goldman Sachs played in the financial crisis.

Monday, June 13, 2011

Shovel Ready vs. Not Shovel Ready - Obama Debates Himself

Remember when Congress passed the American Recovery & Reinvestment act back in 2009? Well, a good part of that $780 Billion was supposed to go directly to "shovel ready jobs", and kick start the economy. You'll recall that at the time, unemployment was 8.2%.

Flashback:




Well, as it turns out, we're actually at 9.1% unemployment today. Oh, and $780 Billion dollars more in debt. Apparently that's funny to some people - and by some, we mean President Obama. Today the President spoke at his "Council on Jobs & Competitiveness" meeting, and had this to say about those shovel ready jobs of his: "shovel ready was not as shovel ready as we expected." This was apparently funny to him, as well as the leader of that circus, Jeff "NOPAT" Immelt.

Stay classy guys - it's your world, we're just living in it.

Sunday, June 12, 2011

ZeroHedge Bailout Exclusive Getting Noticed

As you may know already, our friends over at ZeroHedge released an exclusive late last night exposing what's really happening with the cash from the Fed's QE2 program. If you have not seen it, you can read about it here.

The story has been picked up by Glenn Beck's theblaze.com website, and is featured as one of the top stories. This is excellent news. We hope to see this gain traction & begin to get the attention from Congress & the American people that it deserves.



We will continue to update on this as the events unfold.

Gold / S&P 500 / DXY Trending

Recently there have been many folks trying to downplay anyone not bullish on equities. Here's the problem: The $USD is falling, and Gold has outperformed the S&P 500 over a 3.5 year span.

If you believe Tim Geithner, President Obama, and Ben Bernanke, then by all means pour all your cash into equities & treasuries.

We believe that we're in for some difficult times ahead (especially if QE3 is inevitable, as ZeroHedge uncovers here) - be long equities if you trust the aforementioned folks... and CNBC.

Saturday, June 11, 2011

Jim Rogers Sits Down With the WSJ

Excellent commentary on China & the United States. Barry Ritholtz says to ignore him though, he's just a crank.


Ron White Provides A Solution To Our Financial Woes

Much more sound than anything Congress is currently pitching.

Charlie Gasparino's Obsession With Meredith Whitney

Charlie Gasparino has an obsession, and that obsession's name is Meredith Whitney. Like the bully from A Christmas Story, Gasparino has been constantly trying to back Whitney into a corner because of her December 2010 call on municipal bond defaults.

We normally don't pay much attention to this blowhard, but today he ironically tweeted that "being nasty gets you nowhere in life", and this got our attention.

We started Boiler Room in part because we're sick of the bullshit that goes on, and we figured it was time to start calling people out on it. Well, it's time to call Gasparino out for being a ridiculously pompous ass. Charlie Gasparino has been nothing but nasty toward Meredith Whitney. Article after article, tweet after tweet, Gasparino cyber bullies Meredith Whitney as if he has any credibility that differentiates himself from her. In a recent article Gasparino writes "Whitney, of course, has gained almost as much fame for what she got right as for what she got wrong." Citing her call on muni's as what she got wrong. Two problems with that Charles: 1. She was one of the few who called the banking crisis correctly  - we'd say she's earned a tiny bit of credibility. 2. The states are indeed in trouble with their deficits. This saga has not played all the way out yet.

It's fine to have a rational debate about whether or not Meredith is right. What's not fine is becoming captain keyboard and trying to bully people into backing off their opinions simply because you say so.

We wonder if it's the booze that's got you so impressed with yourself:



Either way, it's time for Gasparino to get over himself and realize that he's just a journalist, with credentials no better than Meredith Whitney. He keeps demanding she present her research. We demand you put the martini's down and present your own research. How much due diligence have you done on state & municipal finances? Quit trying to cyber bully Whitney into backing off her comments. Instead, why don't you grow a pair and prove to everyone why what she's saying absolutely cannot happen.

P.S.- Don't forget about this little guy. We're sure muni defaults will never be a problem though.

P.P.S.- It's dynamite insight such as this that makes us wait on the edge of our seats for you to appear on tv again. You're top notch.

Thursday, June 9, 2011

Jim Rogers Sits Down With Glenn Beck

Jim Rogers sat down Thursday with Glenn Beck to discuss the state of affairs in the United States.

"Glenn most politicians are not that smart. That's why they become politicians...the people in America that become the best politicians are the people who excelled at playground. They didn't excel in anything else. Most of them have never held jobs, they don't know how the world works"

Enjoy

Debtocracy: A Documentary of the Bankruptcy of Greece

As most documentaries on the subject of economics, this one incorrectly defines capitalism and then attributes problems that were caused or exacerbated by central planning as an indictment of capitalism.

Acknowledging those errors for what they are, as well as other inconsistencies in the narrative with which we at the Boiler Room may not necessarily agree with, Debtocracy does provide a look into the financial hell hole that exist in Greece and does, on occasion, make lucid points. As such, it may be worth a peek.

Wednesday, June 8, 2011

Central Planners Force Banks to Slash Debit Swipe Fees by 75%

Deemed as a 'victory for Main Street', USA Today reports that the national average of $0.44 per Debit card swipe will be reduced to $0.12 after a Senate vote to postpone the measure failed to attain the requisite amount of votes.

Of course, we at the Boiler Room think this 'victory' will be short lived. Banks will likely make up the difference by charging higher fees elsewhere, like in checking accounts, offer lower savings rates, or even limit the maximum amount a person can charge on their debit card (thereby the banks make up on volume what they are missing on margin). Indeed, this strategy was already proposed.

QE3 Google Trends Revisted: A Curious Case of Search Origins

A few days ago, we presented a Google search trend of "QE3". While the spike in the search for 'qe3' is not surprising, what is surprising is the region that is contributing to most of the search volume. It's surprising because that region is not the United States. Instead, we find that Hong Kong & Taiwan account for well over 90% of total search results. Could it be that China is more dependent on QE3 than the US? And could it be that China's search volume for QE3 would surpass Hong Kong's if it wasn't for the Chinese firewall? We wonder...

Dallas Fed Chief: Central Bank Is Out of Bullets

Head of the Dallas Fed, Fisher, candidly admits that the Federal Reserve is out of bullets, and that no current policy extension (QE3) or new exotic methods would do anything to change the outlook on the economy. Here are some poignant quotes from the interview:
We’ve provided the fuel. The real issue is who is gonna step on the accelerator and move this economy forward by hiring more people? You have more people working, you have more consumption and growth. And right now there is a hesitancy.
I personally do not think there’s a lot more that the Federal Reserve, in fact, I can’t think of more that the Federal Reserve can do right now with the traditional tools, or even with the expanded toolkit that we have. Because we filled the tanks up. So the real issue is people taking that gas and driving the vehicle forward, the vehicle being the economy and employment. 
 On chatter that the Fed will pursue QE3:
I don’t understand that talk because what more can we do? Interest rates are at 0, going out on the yield curve interest rates are extremely low, the 10 year Treasuries are bopping around 3.0%, 30 year money is under 4.0%. I don’t hear people complaining about a lack of access to credit. You see an awful lot of refinancing of balance sheets, bringing the cost of leverage down. So, if we add more liquidity on top of what is already sufficient, what impact is it likely to have? That’s not the issue right now. To me the issue is people putting that liquidity to use, to hire American workers. (emphasis ours)
On Fed inspiring business confidence:
Not lead them [businesses] to conclude that we will inflate our way out of this. Because that would be another retardant.---At the end of June, this program of expansion of our holding of Treasuries ends.---But here’s the point. It’s over at the end of June.
The real test will be to follow. A lot of companies announced, with some bravado by the way, that they were going to be increasing prices significantly in the June period, consumer prices across the board. 
 If this wasn't a shot across the bow of the equity markets, we don't know what is.

Tuesday, June 7, 2011

DXY Update - Look Out Below

Remember when Turbo Timmy said:

“It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive,”


A Boiler Room Production: Hitler Bullish on the Dollar

Flashback: Financial Markets 2008

Courtesy of SlopeOfHope.

Fuck You Mom & Dad!

Why are so many kids and young adults burdened with insurmountable credit card debts and student loans? Turns out, they picked up their financial etiquette from their parents.

GM Update - On a 10% slide over the past 5 days "Auto Recovery"

Monday, June 6, 2011

White House Sends Goolsbee Packing

Today the White House sent the memo around that Chief Economist Austan Goolsbee is leaving the White House to move back to academia. Sure. We all know that the infamous "leaving to pursue other interests" line means he was told to leave on his own or he would be fired.

The White House is scrambling to do damage control as a result of Friday's job numbers. Non-farm payroll's increased a dismal 54k, and unemployment ticked up to 9.1% -- ZeroHedge provides a more detailed look at that number here.

The White House, led by top notch economist Austan Goolsbee, has championed a Keynesian strategy that between the Recovery Act & QE2 has thrown more than $1.3 trillion dollars into the economy. Unfortunately, unemployment has gone from 7.8% in January 2009, to 9.1% as of the time of this article.

Couple the unemployment rate with the fact that President Obama is in full campaign mode, and someone has to take the fall. Hence it's time for Goolsbee to "pursue other interests."

In the clip below, Austan explains just how brilliantly Keynesian policies work - or at least until the house of cards comes crashing down again and unemployment pops up to above 9%. We speculate that perhaps if he'd spent less time playing with markers and more time reading Hayek, he may have had his job for at least the full term.

Flashback: Obama Promises The First Thing He'll Do Is Bring The Troops Home

We interrupt that message to bring you this:

Outgoing Defense Secretary Robert Gates said Sunday that he sees "modest" drawdowns of our estimated 150,000 troups beginning this July.

By higher mathematics, we're roughly thirty months into President Obama's term. We suppose "first thing" could be used loosely.

Google Trends (6/6/11): QE3

Boiler Room Presents: Bernanke Highlights His Own Failures

Enjoy this unintentionally hilarious video.

Sunday, June 5, 2011

Saturday, June 4, 2011

Boiler Room Presents: Golf Clap - Gene Simmons

Gene Simmons drops some knowledge on CNBC



Boiler Room Says Well Done Gene - Golf Clap

Friday, June 3, 2011

CNBC Tells Secretary of Labor to "Put That Coffee Down!"

In the following clip, Secretary of Labor Hilda Solis reveals the ineptitude of central planners. Credit must be given to the CNBC staff who call the Secretary on her bullshit.

Flashback: Steve Liesman Wants Bernanke & Geithner to Decide the Height of Levees on the Mississippi River

Thursday, June 2, 2011

Boiler Room Presents: Get The Fuck Out of Here - Henry Paulson

"The Troubled Asset Purchase Program on it's own, is the single most effective thing we can do to help the American people" - No Hank, the single most effective thing to do would be to let the system reset, and not bail out all your asshole friends who made this madness possible.



We at Boiler Room say to Hank: GET THE FUCK OUT OF HERE

Joe Rogan Talks Politics

Joe Rogan maybe best known as a commentator for the UFC and as a comedian. Still very much in control of the subject at hand, Rogan cuts through the BS as he discusses politics.

USA Hogs Attention Away From PIIGS

Not to be outdone, Central planners in the USA decided that the Euro Zone cannot be the ultimate fuck up. Even the destructive powers of tornadoes have been overshadowed by the destructive forces of the printing press. Why else are Asian markets in a tail spin? Marketwatch provides some insight with a quote from Mitul Kotecha (head of global forex strategy at Credit Agricole),
“Global-growth worries led by the U.S. have now surpassed Greek and euro-zone peripheral-country concerns as the main driver of risk aversion.”

...and, uhh, BTFD!

QE / Gold Correlation

If you recall, back on August 27, 2010, Ben Bernank hinted at QE2. Since then, Gold has seen a roughly 24% increase in price - did anyone notify Dave Ramsey?

As Wall Street hit's the QE3 easy button, we're anxious to see where Gold ends up if the Fed obliges.


Boiler Room Presents The 1st Installment of: Get The Fuck Out of Here

We don't even know where to begin with this clip. This is the person responsible for guiding the world economy. We urge you to slide the garbage can closer to your desk, as this may cause you to vomit.



We at Boiler Room say to Bernank: GET THE FUCK OUT OF HERE

Wednesday, June 1, 2011

Milton Friedman Presents: The Free Lunch Myth

"Government is at fiction, whereby everybody believes that he can live at the expense of everybody else"

Google Trends: QE3

Presented without commentary.

Peter Yastrow is Long Stocks Due to "Awesome Dividend Yields"

During a CNBC exchange, Peter Yastrow acknowledged bad economic news in true CNBC style; he's bullish on stocks. Reason? The dividend yields are just too good to pass up. Here's a visual of these "awesome dividend yeilds":

Historical S&P 500 Dividends. From multipl.com:

Boiler Room Exclusive: Bernanke / Blankfein Meeting Caught On Tape

Due to some connections at the airport, Boiler Room has obtained exclusive footage. The video shows the tail end of the meeting in which Ben Bernanke informs what looks to be Lloyd Blankfein that he has been awarded billions of dollars in secret loans.



WTI Update

The last time we were on the upswing at this level was March 2008 -- We're just raising the flag.