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NOVEMBER ISSUE - 40 PAGES

Integrating Macro Research

& Technical Analytics

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:  MONDAY 11-29-10

Last Update: 11/30/2010 05:43 AM

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
                       
N. Korea warns of new attacks CNN                    
South Korean military protests response to shelling by North CNN                    
                       
German haircut demands fuel crisis Pritchard X                  
Thinking the unthinkable -- a euro zone breakup Reuters X                  
Eurozone borrowing costs hit record FT X                  
The euro debt crisis - similarities and differences DB Research X                  
First Greece, then Ireland - Europe's debt problem has gone from bad to worse Telegraph X                  
Can the EU Absorb Problems In Peripheral Economies? Scotia X                  
                       
IRELAND                      
Ministers sign off on €85bn Ireland deal FT X                  
Dublin pays €17.5bn for own rescue FT X                  
EU Ministers Race to Complete Aid Package for Ireland Bloomberg X                  
Bail-out to be announced on Sunday FT X                  
Irish crisis in pictures FT X                  
Ireland- Writing on the wall FT X                  
Ireland's banks prepare for full nationalisation as crisis grows Independ. X                  
Ireland set to tap into pension fund Thisismoney X                  
Irish commercial property market now the most vulnerable in world I-Independ. X                  
Your 4,600 bill I-Independ. X                  
What economists say... Telegraph X                  
No risk of euro zone breakup in Irish crisis - EU Reuters X                  
'Nasty Precedent' If Irish Bondholders Are Hit: Strategist CNBC X                  
                       
PORTUGAL                      
Portugal Says EU Can't Force Govts to Accept Rescue Aid Bloomberg X                  
EU denies pushing Portugal towards bailout Reuters X                  
EU leaders fight to stop Portugal slipping into eurozone mire Independ. X                  
                       
SPAIN                      
Spanish Prime Minister 'Absolutely' Rules out Bailout Reuters X                  
Derrick Says Spain May Jump Portugal in Bailout Queue Bloomberg X                  
Spain foreclosures may triple in '11: report MW X                  
Spain could be forced to seek bail-out 'within months' Telegraph X                  
                       
GERMANY                      
When will Germany call time on its economic experiment? Prosser X                  
How Germany appears to be benefiting from euro crisis G&M X                  
Debt Crisis: Merkel's Reputation on the Decline in Europe Spiegel X                  
Germany Rejects Plan to Boost Bailout Fund WSJ X                  
EU rescue costs start to threaten Germany itself Pritchard X                  
Merkel confident plummeting euro can ride out storm Independ. X                  
Merkel Made Investors Fear `Unthinkable Problems,' Prodi Says Bloomberg X                  
German Inflation Gains More Than Economists Forecast on Food, Energy Costs Bloomberg X                  
Why Germany and its automakers won't let the euro collapse DetNews X                  
                       
ITALY                      
Berlusconi’s government faces a do-or-die test Bloomberg X                  
Italy Next? VOX EU X                  
                       
USA                      
Will the next fiscal crisis start in Washington? Washington Post X                  
                       
France, Germany Forge EU Debt-Crisis Plan to Share Burden With Investors Bloomberg   X                
EU Outlines Bond Restructuring Plans WSJ   X                
Hungary Follows Argentina in `Nightmare' Pension-Fund Ultimatum Bloomberg         X          
                       
ARTICLE SOURCE 11 12 13 14 15 16 17 18 19 20
                       
Food stamps recipients swell by 15 million this Thanksgiving IBD   X                
Housing bubble risk intensifies in Hong Kong IB Times             X      
China's State-Planned Economy Is Doomed to Flop Pauly             X      
Can U.S. Afford Political Gridlock Already? Harding                 X  
                       
REMAINING                      
There is No Food Inflation; the BLS Made Sure of That Sheehan                   31
                       
CENTRAL BANKING & MONETARY POLICY                      
                       
GENERAL INTEREST                      
Assets matter as much as debt FT (Wolf)                    
Schemes of the Rich and Greedy Hudson                    
                       
MARKET WARNINGS                      
                       

CURRENCY WARS

                     
Russia buys Canadian dollar, may add Aussie dollar MW                    
Unsound Money in China Canavan                    
Competing currency devaluations ahead Brimelow                    
                       
Q3 EARNINGS                      
                       
MARKET & GOLD MANIPULATION                      
                       
VIDEO TO WATCH                      
The Day the Dollar Died You Tube                    
                       

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





11-29-10

 

GEO-POLITICAL TENSIONS - ISRAEL / KOREA / IRAN

 

KOREA

N. Korea warns of new attacks - North Korea military sizable but aging CNN

 

South Korean military protests response to shelling by North CNN


1- SOVEREIGN DEBT & CREDIT CRISIS

 

SOVEREIGNS

 

 

 

 

German haircut demands fuel crisis Pritchard
“There is a major fear of contagion in the eurozone”

 

Thinking the unthinkable -- a euro zone breakup Reuters

 

Eurozone borrowing costs hit record FT
Some traders warned that contagion could even spread to the core eurozone debt markets of France and the Netherlands.

 

The euro debt crisis - similarities and differences DB Research

 

First Greece, then Ireland - Europe's debt problem has gone from bad to worse Telegraph

 

Can the EU Absorb Problems In Peripheral Economies? Scotia

 

IRELAND

Ministers sign off on €85bn Ireland deal  FT
o 85B Euro over 7.5 years. Rate "close to 6%"
o 50B Euro for Fiscal Deficits
o 10B Euro to recapitalize banks
o 25B bank contingency (17.5 from Ireland)
o IMF putting in 22B

Dublin pays €17.5bn for own rescue  FT

EU Ministers Race to Complete Aid Package for Ireland  BL
European finance ministers are racing to conclude an international rescue package for Ireland before markets open to stop the country’s financial crisis from spreading to the rest of the euro region. Finance ministers from the 16 euro nations meet at 1 p.m. in Brussels before a meeting of all 27 EU ministers. European Central Bank President Jean-Claude Trichet will also attend.

“The market has got it into its head that it is going to pick off one country at a time.” 

Alan McQuaid, chief economist at Bloxham Stockbrokers in Dublin.



o More than 50,000 people took to the streets of Dublin yesterday to protest budget cuts
o Investors are looking for details on:
   i) The interest rate Ireland will pay on its loans and
  ii) The fate of senior bondholders in the country’s banks.
o The average yield investors demand to hold 10-year debt from Greece, Ireland, Portugal, Spain and Italy climbed above 7.5 percent on Nov. 26. The yield on German 10-year bonds was 2.73 percent.
o 14% Unemployment
o 31B Euro Bank Capital Support already => 32% of GDP deficit
o 31.5B Tax revenue this year.
o Ireland’s Sunday Business Post and the Sunday Tribune newspapers today reported that the ECB vetoed hurting senior bond holders.

 

Bail-out to be announced on Sunday  FT
o IMF/EU loan likely to be a 9 Year duration
o Greece paid 5%, rumors being denied of 6.5% while PIIGs bonds currently > 7.5%

 

Irish crisis in pictures  FT
Over 600 unfinished housing estates across the country


Ireland- Writing on the wall  FT

Ireland's banks prepare for full nationalisation as crisis grows Inde Moody’s
o The Irish government is expected to take Allied Irish Banks, the weaker of the two, into full public ownership with Bank of Ireland set to have around 85 per cent of its shares held by the Irish government.
o Both banks also passed European-wide stress tests at the end of July conducted under the auspices of the Committee of European Banking Supervisors. The tests have been facing increasing criticism in recent months.
o Yesterday a European Commission spokeswoman said the banks would face "severe" restructuring requirements linked to the country's bailout package."There will be a severe restructuring plan in place for Irish banks," the spokeswoman said. "There's nothing wrong with saving Irish banks, but it's going to be done using German, French, Italian money."
o the Irish banks will eventually have to be re-privatised to help to repay the vast loans that will be extended. The main interest would come from private equity players, seeing them as a potential recovery play when the problems have finally eased. Wilbur Ross, the billionaire investor, said his WL Ross & Co is one of two final bidders for EBS Building Society, another Irish bank. Irish Life & Permanent and a group led by Cardinal Capital are the final two bidders. The Cardinal group includes the Carlyle Group and WL Ross.

 

Ireland set to tap into pension fund ThisisMoney
In a move that will see Irish workers shoulder yet more pain in the years ahead, Dublin said it would now begin digging into the €24bn (£20bn) pension nest-egg to fund its day-to-day needs. Having already siphoned off €7bn (£6bn) to prop up its crippled banks last year, Dublin will in the future force its National Pensions Reserve Fund to buy debt issued by the government.

 

Irish commercial property market now the most vulnerable in world I-Inde
"Banks have been moving on from extend and pretend to extend and amend"

The debt funding gap is defined as the difference between the existing debt balance secured by commercial property as it matures and the debt available to replace it.

 

COUNTRY      GAP     % OF CRE

Ireland         -$6.5B       -16%

Hungary       -$2.0B        - 1%

Spain          $33.0B          6%

USA            $49.0B         1%

UK              $54.0B          6%

Japan          $70.0B

 

Germany     $10.0B

France         $10.0B

 

Europe accounts for over half of the global debt gap between now and 2013 @ $245B

 

Your 4,600 bill Irish Independent

 What economists say...  Telegraph

No risk of euro zone breakup in Irish crisis - EU Reuters

'Nasty Precedent' If Irish Bondholders Are Hit: Strategist CNBC

 

PORTUGAL

 
Portugal ground to a halt as its two biggest unions stopped trains and buses, grounded planes and halted banking services in protest over planned austerity measures.

Portugal Says EU Can't Force Govts to Accept Rescue Aid BL

EU denies pushing Portugal towards bailout Reuters

 

EU leaders fight to stop Portugal slipping into eurozone mire Inde

SPAIN

Spanish Prime Minister 'Absolutely' Rules out Bailout Reuters

WSJ: "Let me warn those who are shorting Spain that they're mistaken."

Derrick Says Spain May Jump Portugal in Bailout Queue BL

 

Spain foreclosures may triple in '11: report MW

 

Spain could be forced to seek bail-out 'within months' Telegraph

 

GERMANY
“Germany cannot keep paying for bail-outs without going bankrupt itself. This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver.”
Professor Wilhelm Hankel, of Frankfurt University

 

When will Germany call time on its economic experiment? Prosser

 

How Germany appears to be benefiting from euro crisis G&M

 

Debt Crisis: Merkel's Reputation on the Decline in Europe Spiegel

 

Germany Rejects Plan to Boost Bailout Fund WSJ

 

EU rescue costs start to threaten Germany itself Pritchard

 

Merkel confident plummeting euro can ride out storm Independent

 

Merkel Made Investors Fear `Unthinkable Problems,' Prodi Says BL

 

German Inflation Gains More Than Economists Forecast on Food, Energy Costs BL

Why Germany and its automakers won't let the euro collapse DetNews

FRANCE

 ITALY

Berlusconi’s government faces a do-or-die test BL Italy Next?

 

UK


JAPAN

 

 

USA

 

 

Will the next fiscal crisis start in Washington? WP (Bair)

 

 

2- EU BANKING CRISIS

   

France, Germany Forge EU Debt-Crisis Plan to Share Burden With Investors BL

 

Germany and France have forged revamped crisis rules for the euro that aims to make investors share some of the burden of any post-2013 bailout, German government spokesman Steffen Seibert said.

 

EU Outlines Bond Restructuring Plans WSJ

 

Creditors of euro-zone countries that face insolvency after 2013 will see their bond holdings restructured—and may be forced to take losses—under a proposal agreed by the leaders of France and Germany, and top European Union officials, according to people familiar with the matter.

Finance ministers, meeting Sunday in Brussels to approve an international rescue package for Ireland valued at about €85 billion ($110 billion), will also discuss the proposal.

The proposal to make private-sector creditors bear part of the burden of future troubles was agreed earlier Sunday by ...

 

 

3- BOND BUBBLE

 

 

4- STATE & LOCAL GOVERNMENT

 


5- CENTRAL & EASTERN EUROPE

 

Hungary Follows Argentina in `Nightmare' Pension-Fund Ultimatum BL

6-BANKING CRISIS II



7- RISK REVERSAL

 

 

8- COMMERCIAL REAL ESTATE

 

 

9-RESIDENTIAL REAL ESTATE - PHASE II

 

 

10- EXPIRATION FINANCIAL CRISIS PROGRAM

 

 

11- PENSION & ENTITLEMENTS CRISIS



12- CHRONIC UNEMPLOYMENT


Food stamps recipients swell by 15 million this Thanksgiving IBD  FNS

People collecting benefits from the Supplemental Nutrition Assistance (SNAP) program in the US rose by 15 million since the start of the recession in December 2007, says a report.

With the new addition, the total number of people receiving the benefits from the program, commonly known as Food Stamps, increased to 42.2 million this Thanksgiving, accounting for 1.37 percent of the US population, said Economic Policy Institute on Wednesday.



13- GOVERNMENT BACKSTOP INSURANCE

 

 

14- CORPORATE BANKRUPTCIES

 

 

17- CHINA BUBBLE


Housing bubble risk intensifies in Hong Kong IBTimes

China's State-Planned Economy Is Doomed to Flop Pauly

19- PUBLIC POLICY MISCUES

Can U.S. Afford Political Gridlock Already? Harding



 


OTHER TIPPING POINT CATEGORIES NOT LISTED ABOVE

 

24-RETAIL SALES

 

 

26-GLOBAL OUTPUT GAP

 

 

31-FOOD PRICE PRESSURES

 

There is No Food Inflation; the BLS Made Sure of That Sheehan

 

32-US STOCK MARKET VALUATIONS

 

 




BP - British Petroleum

SULTANS OF SWAP: BP Potentially More Devastating then Lehman!

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

 






   

CENTRAL BANKING MONETARY POLICIES, ACTIONS & ACTIVITIES

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




 

 GENERAL INTEREST

Assets matter as much as debt  FT  (Wolf)
We should indeed avoid burdening the future with unproductive debt. Yet productive debt is not a burden, but a blessing.

What then is productive debt? This is a question raised by a thought-provoking paper by Oxford University’s Dieter Helm, an expert in utility regulation.*

* “Rethinking the Economic Borders of the State”, Social Market Foundation,www.smf.co.uk

 

Schemes of the Rich and Greedy  Hudson

 

FLASH CRASH - HFT - DARK POOLS

 

MARKET WARNINGS

 

CURRENCY WARS

Russia buys Canadian dollar, may add Aussie dollar MW

 

Unsound Money in China Canavan  Chapman

 

Competing currency devaluations ahead Brimelow

 

Q3 EARNINGS

 

MARKET & GOLD MANIPULATION

 

AUDIO / VIDEO

The Day the Dollar Died YouTube

 

 

QUOTE OF THE WEEK



"Germany cannot keep paying for bail-outs without going bankrupt itself. This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings."

 Professor Wilhelm Hankel, of Frankfurt University
EU rescue costs start to threaten Germany itself - Telegraph


"We're not swimming in money, we're drowning in debts"

German finance minister Wolfgang Schäuble before Bundestag
EU rescue costs start to threaten Germany itself - Telegraph


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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

MONDAY

11-29-10

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.