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NOVEMBER ISSUE - 40 PAGES

Integrating Macro Research

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Gordon T Long

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READ ALL THE

"EXTEND & PRETEND" SERIES

 

 

Stage I Comes to an End!

 

A Matter of National Security

 

A Guide to the Road Ahead

 

Confirming the Flash Crash Omen

 

Its either RICO Act or Control Fraud

 

Shifting Risk to the Innocent

 

Uncle Sam, You Sly Devil!

 

Is the US Facing a Cash Crunch?

 

Gaming the US Tax Payer

 

Manufacturing a Minsky Melt-Up

 

Hitting the Maturity Wall

 

An Accounting Driven Market Recovery

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER 


 

 

 


 

READ ALL THE

"SULTANS OF SWAP"

 

ACT I

Sultans of Swap: Smoking Guns!

 

ACT II

Sultans of Swap: The Sting!

 

ACT III

Sultans of Swap: The Get Away!

 

 

ALSO

SULTANS OF SWAP: Explaining $605 Trillion in Derivatives!

 

SULTANS OF SWAP: Fearing the Gearing!

 

SULTANS OF SWAP: BP Potentially More Devastating then Lehman!

 

SULTANS OF SWAP: Gold Swaps Signal the Roadmap Ahead

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 


 

 

 

 

READ ALL THE

"EURO EXPERIMENT" SERIES

 

 

 

EURO EXPERIMENT: German Steel or Schmucks?!

 

 

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 

 

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Current Thesis Advisory

62 pages

 

Published November 2009

 

EXTEND & PRETEND

 

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READ ALL THE

"INNOVATION" SERIES

 

Innovate or Die

 

INNOVATION: America has a Structural Problem!

 

INNOVATION: What Made America Great is now Killing Her!

 

America - Innovate or Die!

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 


 

 

 

READ ALL THE

"PRESERVE & PROTECT" SERIES

 

 

 

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 

 

 

 

 

 

 

 

POSTS:  THURSDAY 11-10-10

Last Update: 11/11/2010 11:18 PM

SCHEDULE: 1st Pass: 5:30AM EST, 2nd Pass: 8:00 AM, 3rd Pass 10:30 AM. Last Pass 5:30 PM
ARTICLE SOURCE 1 2 3 4 5 6 7 8 9 10
                       
Doubts Grow Over ‘Peripheral’ Euro-Zone Nations FT X                  
Euro slips below $1.38 as debt worries persist AP X                  
IMF warns austerity measures may have to be reconsidered Telegraph X                  
Greek FinMin: Greece Not Ireland, Banks Under Control MINI X                  
Portugal Sells Bonds, Relief Seen Despite Yield Rise Reuters X                  
Ireland on Brink as `Beggar' for Aid After Losses by Fingleton Bloomberg X                  
Research Ireland: Debt crisis part II Danske X                  
Ireland's Fate Is Tied To Doomed Banks WSJ X                  
30-Year Treasury Auction Disaster- Yield Now 4.32% BI     X              
Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire Bloomberg           X        
Junk-Bond Sellers Find Risk Too High WSJ             X      
Mutual Funds Seek to Avoid Risk Supervision by Fed Bloomberg             X      
                       
ARTICLE SOURCE 11 12 13 14 15 16 17 18 19 20
                       
U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare Bloomberg X                  
This Is How The Mainstream Media Got Today's Jobs Report Wrong BI   X                
Hong Kong $230,000 Bid Overtakes London-New York Wine Auctions Bloomberg             X      
China's October trade surplus soars to $27 billion AP             X      
China raises bank reserves to calm credit growth Reuters             X      
China aims to draw excess cash by raising yield on bills Shanghai Daily             X      
China's property price growth slows to 8.6% in Oct Xinhua             X      
Convertible Bonds Lead Debt Gains Amid Yuan Bets: China Credit Bloomberg             X      
Shareholders rush to cash in Standard             X      
’More than 26 times covered...’ FAsia             X      
Hong Kong Home Sales Worth More Than $2.6 Million Jump 86%, Defying Curbs Bloomberg             X      
Hong Kong Asset Bubble Risk Rises With Fed Easing Liquidity Rush, RCM Says Bloomberg             X      
Deficit Panel's Leaders Push Cuts WSJ                 X  
The Fed's QE2 Misadventure Will Cost U.S. Households $4.6 Trillion Smith                 X  
                       
REMAINING                      
Fish stocks dwindle as trawlers empty Asia's seas AFP                   31
CENTRAL BANKING & MONETARY POLICY                      
Latest QE threatens the world Duncan                    
In a QE2 world, only a handful of investments hold appeal Rosenberg                    
QE in the mid 1930s Appeared to Have Been Successful Kasriel                    
Bernanke tells Jacksonville University students QE is not inflationary Pollaro                    
The end of the world we’ve known since WWII Fabius Maximus                    
Stephen Roach: QE represents “what got us into the mess” Credit Writedowns                    
Is the Fed’s Definition of Price Stability Evolving? FRBSL                    
Faber: The Developing World Should Be Thanking Bernanke... BI                    
Bernanke Panned by Palin, Cheered by Faux Fed Baum                    
The Fed is right to turn on the tap FT Wolf                    
Is the Fed's Debt-Buying Unconstitutional? Fox                    
Fed Easing Seen Ineffective by 75% in Global Poll Favoring ECB Bloomberg                    
GENERAL INTEREST                      
An unfortunate needle points to war Harrison                    
Kiss Your Assets Goodbye If Certainty Reigns Ritholtz                    
                       
MARKET WARNINGS                      
10 Market Bubbles That Could Soon Burst Daily Finance                    

G20 MEETING

                     
Federal Reserve action under global attack ahead of G-20 CNN                    
G-20 Nations Wrangle Over Strengthening Vow on Currencies Bloomberg                    
G-20 Unity Born in Crisis Fractures as Leaders Pursue Own Ends Bloomberg                    
Turkish PM to air concern over Fed's QE2 at G20 summit Reuters                    

CURRENCY WARS

                     
Chinese firm downgrades US credit rating Xinhua                    
China, U.S. in `grand bargain' on yuan appreciation: Goldman's O'Neill Bloomberg                    
'Currency war can create prisoner’s dilemma' Korea Times                    
It's not just the dollar's fault Barr                    
Q3 EARNINGS                      
                       
MARKET & GOLD MANIPULATION                      
World Bank chief says G20 should heed gold price FT                    
If the World Goes Gold... WSJ                    
Carney rejects return to gold FT                    
Roubini: Here's Why a Gold Standard Won't Work CNBC                    
Gold Standard: How to Prep for It TheStreet                    
Raise in CME Silver Margins Prompts After-Hours Sell-Off Kitco                    
$60 Silver? Casey                    
VIDEO TO WATCH                      
                       

Complete Legend to the Right, Top Items below.
Articles with highlights, graphics and any pertinent analysis found below.

 

 

 

                    LATEST RESEARCH PUBLICATIONS

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COMMENTARY for all articles by Gordon T Long

 

CURRENCY WARS: Debase, Default, Deny!

 

In September 2008 the US came to a fork in the road. The Public Policy decision to not seize the banks, to not place them in bankruptcy court with the government acting as the Debtor-in-Possession (DIP), to not split them up by selling off the assets to successful and solvent entities, set the world on the path to global currency wars.

 

By lowering interest rates and effectively guaranteeing a weak dollar, the US ignited an almost riskless global US$ Carry Trade and triggered an uncontrolled Currency War with the mercantilist, export driven Asian economies. We are now debasing the US dollar with reckless spending and money printing with the policies of Quantitative Easing (QE) I and the expectations of QE II. Both are nothing more than effectively defaulting on our obligations to sound money policy and a “strong US$”. Meanwhile with a straight face we deny that this is our intention.  

 

Though prior to the 2008 financial crisis our largest banks had become casino like speculators with public money lacking in fiduciary responsibility, our elected officials bailed them out. Our leadership placed America and the world unknowingly (knowingly?) on a preordained destructive path because it was politically expedient and the easiest way out of a difficult predicament. By kicking the can down the road our political leadership, like the banks, avoided their fiduciary responsibility. Similar to a parent wanting to be liked and a friend to their children they avoided the difficult discipline that is required at certain critical moments in life. The discipline to make America swallow a needed pill. The discipline to ask Americans to accept a period of intense adjustment. A period that by now would be starting to show signs of success versus the abyss we now find ourselves staring into.  A future that is now massively worse and with potentially fatal pain still to come. READ MORE

   

 

CURRENCY WARS: Misguided Economic Policy

 

The critical issues in America stem from minimally a blatantly ineffective public policy, but overridingly a failed and destructive Economic Policy. These policy errors are directly responsible for the opening salvos of the Currency War clouds now looming overhead.

 

Don’t be fooled for a minute. The issue of Yuan devaluation is a political distraction from the real issue – a failure of US policy leadership. In my opinion the US Fiscal and Monetary policies are misguided. They are wrong! I wrote a 66 page thesis paper entitled “Extend & Pretend” in the fall of 2009 detailing why the proposed Keynesian policy direction was flawed and why it would fail. I additionally authored a full series of articles from January through August in a broadly published series entitled “Extend & Pretend” detailing the predicted failures as they unfolded. Don’t let anyone tell you that what has happened was not fully predictable!

 

Now after the charade of Extend & Pretend has run out of momentum and more money printing is again required through Quantitative Easing (we predicted QE II was inevitable in March), the responsible US politicos have cleverly ignited the markets with QE II money printing euphoria in the run-up to the mid-term elections. Craftily they are taking political camouflage behind an “undervalued Yuan” as the culprit for US problems. Remember, patriotism is the last bastion of scoundres  READ MORE


  BRIEFS  

Obama's 'Hail Mary' Export Strategy
   
     

 READER ROADMAP -  2010 TIPPING POINTS aid to positioning COMMENTARY

1

         

1-SOVEREIGN DEBT

2-EU BANKING CRISIS
3-BOND BUBBLE

4-STATE & LOCAL GOVERNMENT

5-CENTRAL & EASTERN EUROPE
6-BANKING CRISIS II
7-RISK REVERSAL

8-COMMERCIAL REAL ESTATE

9-RESIDENTIAL REAL ESTATE - PHASE II
10-EXPIRATION FINANCIAL CRISIS PROGRAM
11-PENSION CRISIS

12-CHRONIC UNEMPLOYMENT

13-GOVERNMENT BACKSTOP INSUR.
14-CORPORATE BANKRUPTCY

TODAY'S TIPPING POINTS UPDATE

RED ALERT

AMBER ALERT

ACTIVITY

MONITOR

Click to Enlarge





11-10-10

 

GEO-POLITICAL TENSIONS - ISRAEL / KOREA / IRAN

 

 

IRAN

 

ISREAL

 

KOREA

 

1- SOVEREIGN DEBT & CREDIT CRISIS

 

SOVEREIGNS

 

 

Doubts Grow Over ‘Peripheral’ Euro-Zone Nations FT

 

Euro slips below $1.38 as debt worries persist AP

IMF warns austerity measures may have to be reconsidered Telegraph

GREECE

Greek FinMin: Greece Not Ireland, Banks Under Control MINI

 

PORTUGAL

Portugal Sells Bonds, Relief Seen Despite Yield Rise Reuters

 

GERMANY

 

FRANCE

 

UK

 

IRELAND

Ireland on Brink as `Beggar' for Aid After Losses by Fingleton  BL

Research Ireland: Debt crisis part II Danske

Ireland's Fate Is Tied To Doomed Banks WSJ
The debt is judged as risky as Greece's was this spring just before that nation begged for a European Union bailout.
JAPAN

 

 

USA

 

 

 

VETERAN'S DAY - REMEMBERANCE DAY


NO GOVERNMENT RELEASES

 

 

2- EU BANKING CRISIS

   

 

3- BOND BUBBLE

 

30-Year Treasury Auction Disaster- Yield Now 4.32%  BI

 

 

4- STATE & LOCAL GOVERNMENT

 


5- CENTRAL & EASTERN EUROPE

 


6-BANKING CRISIS II


Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire BL

7- RISK REVERSAL

 
Junk-Bond Sellers Find Risk Too High WSJ
As they exit, mom-and-pop investors are flooding in, along with mutual funds that are usually dedicated to other investments...

Mutual Funds Seek to Avoid Risk Supervision by Fed BL

 

8- COMMERCIAL REAL ESTATE

 

 

9-RESIDENTIAL REAL ESTATE - PHASE II

 

 

10- EXPIRATION FINANCIAL CRISIS PROGRAM

 

 

11- PENSION & ENTITLEMENTS CRISIS


U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare BL
“This country’s out of money and we better start thinking” Without “tough choices we’re on the most predictable path toward an economic crisis  that I can imagine”


12- CHRONIC UNEMPLOYMENT


This Is How The Mainstream Media Got Today's Jobs Report Wrong  BI

13- GOVERNMENT BACKSTOP INSURANCE

 

 

14- CORPORATE BANKRUPTCIES

 

 

17- CHINA BUBBLE


Hong Kong $230,000 Bid Overtakes London-New York Wine Auctions BL
That’s not investment. That is just uncontrolled spending.”

China's October trade surplus soars to $27 billion AP

China raises bank reserves to calm credit growth Reuters

China aims to draw excess cash by raising yield on bills Shanghai Daily

China's property price growth slows to 8.6% in Oct Xinhua

Convertible Bonds Lead Debt Gains Amid Yuan Bets: China Credit BL

Shareholders rush to cash in Standard

’More than 26 times covered...’ FAsia

The move may have been triggered by uncertainties lying ahead...

Hong Kong Home Sales Worth More Than $2.6 Million Jump 86%, Defying Curbs BL

Hong Kong Asset Bubble Risk Rises With Fed Easing Liquidity Rush, RCM Says BL

19- PUBLIC POLICY MISCUES

 

Deficit Panel's Leaders Push Cuts  WSJ

Leaders of a White House commission laid out a sweeping plan to cut the federal budget deficit by hundreds of billions a year by targeting sacrosanct areas of U.S. tax and spending policy, such as Social Security benefits, middle-class tax breaks and defense spending.

 

The Fed's QE2 Misadventure Will Cost U.S. Households $4.6 Trillion  Smith

 

Total loss inflicted on households by QE2 to date: $4.6 trillion. The Fed's QE2 has been an unmitigated disaster for 90% of American households, as it has destroyed the value of their purchasing power in a Devil's Pact to goose stocks, which only benefits the top 10% of households--and most of those paper gains are reserved for the top 1%

Those are the numbers; exactly what conclusion can be drawn from them except the Fed is a horrendously misguided, Elite-dominated destructive force which must be reined in politically?



 


OTHER TIPPING POINT CATEGORIES NOT LISTED ABOVE

 

24-RETAIL SALES

 

 

26-GLOBAL OUTPUT GAP

 

 

31-FOOD PRICE PRESSURES

 

Fish stocks dwindle as trawlers empty Asia's seas AFP

Demand for top-quality seafood, from Southeast Asian nations themselves and from Hong Kong and China, is another major factor behind the emptying of the seas.

According to World Fish data, there were 10 times more fish in the Gulf of Thailand in 1965 than 30 years later.

 

In Malaysia the decline was between 80 and 90 percent while in the Philippines it is estimated that there was a 46-78 percent dropoff in fish stocks.

 

There is little data from other countries without the resources to carry out the studies, but World Fish believes the rate of decline in those three countries is reflected across Southeast Asia.

 

32-US STOCK MARKET VALUATIONS

 

 




BP - British Petroleum

SULTANS OF SWAP: BP Potentially More Devastating then Lehman!

------------

 






   

CENTRAL BANKING MONETARY POLICIES, ACTIONS & ACTIVITIES

------------

 

Latest QE threatens the world Richard Duncan
Fed move portends dangers for global economy

In a QE2 world, only a handful of investments hold appeal Rosenberg

QE in the mid 1930s Appeared to Have Been Successful Kasriel

Bernanke tells Jacksonville University students QE is not inflationary Pollaro

The end of the world we’ve known since WWII Fabius Maximus

Stephen Roach: QE represents “what got us into the mess” Credit Writedowns

Is the Fed’s Definition of Price Stability Evolving? FRBSL

Faber: The Developing World Should Be Thanking Bernanke... via BInsider

Bernanke Panned by Palin, Cheered by Faux Fed Baum

The Fed is right to turn on the tap FT (Wolf)

Is the Fed's Debt-Buying Unconstitutional? FOX

Fed Easing Seen Ineffective by 75% in Global Poll Favoring ECB  BL

Global investors doubt the Federal Reserve’s plan to buy more Treasury securities will boost the U.S. economy or bring down unemployment and say they believe the government is pursuing a weak-dollar policy, a poll shows.


 

 GENERAL INTEREST

An unfortunate needle points to war Harrison Dr. HB

 

Kiss Your Assets Goodbye If Certainty Reigns Ritholtz

 

FLASH CRASH - HFT - DARK POOLS

 

MARKET WARNINGS

10 Market Bubbles That Could Soon Burst Daily Finance

 

G20 MEETING

Federal Reserve action under global attack ahead of G-20 CNN

G-20 Nations Wrangle Over Strengthening Vow on Currencies  BL

Group of 20 nations failed to resolve differences over currency policies blamed for distorting global trade and investment, hours before their leaders gather, a South Korean official said.

 

 

G-20 Unity Born in Crisis Fractures as Leaders Pursue Own Ends BL

 

Turkish PM to air concern over Fed's QE2 at G20 summit Reuters

 

CURRENCY WARS

Chinese firm downgrades US credit rating Xinhua
"In essence, the US government's move to devalue the dollar indicates its solvency is on the brink of collapse”

China, U.S. in `grand bargain' on yuan appreciation: Goldman's O'Neill BL

'Currency war can create prisoner’s dilemma' Korea Times

It's not just the dollar's fault Barr

 

"The US currency is roughly back to where it was before the global financial crisis (when many of the countries now complaining about a weak dollar were actually doing pretty well)," writes Julian Jessop of Capital Economics. "If this is a 'currency war,' it still seems pretty phony."

 

Greenback has fallen 12% against the yen and a staggering 18% against the euro since early June.

The Fed's trade-weighted broad exchange index, which tracks how the dollar trades against two dozen or so global currencies, has fallen just 7% since the euro and yen took off in late spring.

the reason the euro and the yen have been under such pressure is because they are bearing the brunt both of Bernanke's reflation play and of China's refusal to play by the same rules as most everyone else.

 

China's decision to continue with this policy, at a time when others in the emerging world are screaming about the dollar's plunge against their floating currencies, isn't just putting a floor under the broad dollar index and sending the yen and euro screaming higher. It's also holding back a deeply troubled U.S. economy, writes Andrew Balls of Pimco.

 

"The U.S. faces structural as well as cyclical problems and the fact that the U.S. dollar has not been allowed to weaken versus important Asian currencies is one factor frustrating structural adjustment in the U.S.," Balls wrote this week.

 

It is certainly not the only one. As Balls' colleagues at Pimco have pointed out repeatedly, U.S. politicians must confront the country's glaring deficiencies in areas such as infrastucture and energy policy before we can expect enough good jobs to start popping up here. Someone must also get a grip on the deteriorating U.S. fiscal picture, sooner rather than later.

 

But policymakers here aren't the only ones who bear responsibility for the muddle that is the global trade picture right now.

 

"At some point, emerging market countries may decide that the potential benefits of large scale currency interventions are outweighed by the costs, and therefore allow their currencies to appreciate rather than trying to frustrate the process of global rebalancing," Balls writes. "If not, creeping protectionism remains a serious threat."

 

Hopefully, this is not a something's got to give sort of situation. But even if it is, a look back at the last crisis suggests that it may not be the dollar that will end up taking the brunt of the bad news, however richly deserved it may seem.

 

Q3 EARNINGS

 

MARKET & GOLD MANIPULATION

 

World Bank chief says G20 should heed gold price FT
Zoellick said critics had misunderstood his proposal as a call for a return to the gold standard...
If the World Goes Gold... WSJ

 

Carney rejects return to gold FT

Roubini: Here's Why a Gold Standard Won't Work CNBC

Gold Standard: How to Prep for It TheStreet

Raise in CME Silver Margins Prompts After-Hours Sell-Off Kitco 

$60 Silver? Casey

“The margins were only raised for silver – but under the SPAN margining system that the CME uses, the possibility of other margin increases propped up...”

AUDIO / VIDEO

 

QUOTE OF THE WEEK

"It could unfold very, very quickly. Because deflation is a swing of poverty feedback, it can take awhile to build up. If you try to explain to people what's coming, because it doesn't happen instantly, they tend to go back to sleep. The thing they need to understand, however, is that when it does hit a tipping point, a kind of critical mass, then it can unfold exceptionally quickly. Then it's very much like having the rug pulled out from under your feet. So I tell people all the time, prepare now because it's better to be two years too early than five minutes too late. You can't play with this sort of thing. In September, 2008, we came within a few hours of the banking system seizing up, and that could easily happen again. People wouldn't get a lot of notice. For anyone who's not in the meeting room-it will be too late by the time they find out. My worry is that if there are an enormous number of people who just had the rug pulled out from under their feet, they're going to run around like headless chickens, and the human over-reaction to events will be really responsible for a large percentage of the impact. “

Automatic Earth


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Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. Of course, he recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments.ont>

 

© Copyright 2010 Gordon T Long. The information herein was obtained from sources which Mr. Long believes reliable, but he does not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Mr. Long may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website. Mr. Long does not intend to disclose the extent of any current holdings or future transactions with respect to any particular security. You should consider this possibility before investing in any security based upon statements and information contained in any report, post, comment or recommendation you receive from him.

 

         

TODAY'S NEWS

THURSDAY

11-11-10

NOVEMBER

S M T W T F S
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30        

ARCHIVAL

 

 


 

         

TIPPING POINTS

1-SOVEREIGN DEBT & CREDIT CRISIS

2-EU BANKING CRISIS
3-BOND BUBBLE

4-STATE & LOCAL GOVERNMENT

5-CENTRAL & EASTERN EUROPE
6-BANKING CRISIS II
7-RISK REVERSAL

8-COMMERCIAL REAL ESTATE

9-RESIDENTIAL REAL ESTATE - PHASE II
10-EXPIRATION FINANCIAL CRISIS PROGRAM
11-PENSION CRISIS

12-CHRONIC UNEMPLOYMENT

13-GOVERNMENT BACKSTOP INSUR.
14-CORPORATE BANKRUPTCY
 

15-CREDIT CONTRACTION II

16-US FISCAL IMBALANCES
17-CHINA BUBBLE
18-INTEREST PAYMENTS
19-US PUBLIC POLICY MISCUES
20-JAPAN DEBT DEFLATION SPIRAL
21-US RESERVE CURRENCY.
22-SHRINKING REVENUE GROWTH RATE
23-FINANCE & INSURANCE WRITE-DOWNS
24-RETAIL SALES
25-US DOLLAR WEAKNESS
26-GLOBAL OUTPUT GAP
27-CONFIDENCE - SOCIAL UNREST
28-ENTITLEMENT CRISIS
29-IRAN NUCLEAR THREAT
30-OIL PRICE PRESSURES
31-FOOD PRICE PRESSURES
32-US STOCK MARKET VALUATIONS
33-PANDEMIC
34-S$ RESERVE CURRENCY
35-TERRORIST EVENT
36-NATURAL DISASTER

 


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Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. Of course, we recommend that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments.

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© Copyright 2010, Gordon T Long. The information herein was obtained from sources which the Gordon T Long. believes reliable, but we do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that the Gordon T Long. or its principals may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website. Gordon T Long does not intend to disclose the extent of any current holdings or future transactions with respect to any particular security. You should consider this possibility before investing in any security based upon statements and information contained in any report, post, comment or recommendation you receive from us.