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:  WEDNESDAY 12-22-10

Last Update: 12/23/2010 05:03 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
                       
EU SOVEREIGN DEBT CRISIS                      
Fed extends program to ease Europe debt crisis AP X                  
European Stocks, U.S. Futures Gain on China EU Support Bloomberg X                  
China supports EU efforts at financial stability AP X                  
Bond Leader Pimco Sees Euro Zone in Danger Spiegel X                  
Pricthard Coverage Telegraph X                  
Eurozone crises left to fester VOX X                  
                       
SPAIN                      
OECD wants Spain tax rises if targets prove tricky Reuters X                  
Portugal faces rating cut, Spanish debt costs rise Reuters X                  
                       
UK Telegraph X                  
UK budget deficit balloons to record high Independ. X                  
Ill winds blow British economy no good                      
                       
JAPAN                      
Japan to cut pension payout amid deflation AP X                  
                       
USA                      
The Money Supply, a triple from here? Pollaro                    
Research US: Upgrading our outlook for private consumption Danske                    
                       
Bond Market Rejects Fed's Unconditional Love Baum     X              
Stocks versus bonds, as rates rise Hulbert     X              
$6.5-trillion global bond headache FP     X              
Bond Sales Freeze - Fund Outflows Jump to Record Bloomberg     X              
Banks Look to Profit on Muni-Bond Fears WSJ       X            
Weak Get Weaker as Muni Bonds Are Sold Off WSJ       X            
Budget Cuts To Darken SoCal City Street Lights CBS       X            
The great bank heist of 2010 MW           X        
Homeowners use 'show me the note' to fight foreclosure USAT                 X  
Housing Chill Could Trash 2011 Dorfman                 X  
San Francisco Fed Offers Sympathy to Pre-Crisis Mortgage Lenders WSJ                 X  
                       
ARTICLE SOURCE 11 12 13 14 15 16 17 18 19 20
                       
Food stamp use spikes to 1 in 7 CNN   X                
1 in 3 Working Families Considered ‘Low Income’ WSJ   X                
Staffing Industry Hiring Revenue Surges as Jobs Remain Scarce Bloomberg   X                
Blockbuster plans to close 182 stores by April AP       X            
Land bidding needs to be strictly monitored nationwide Shanghai Daily             X      
Liquidity alert at banks The Standard             X      
Why the United States of America is Broke Mish                 X  
Keeping America Great CNBC                 X  
                       
REMAINING                      
U.S. Retail Sales Growth Accelerated to 4.2% Last Week Bloomberg                   24
                       
CENTRAL BANKING & MONETARY POLICY                      
We’ve seen quantitative easing before – and it didn’t work G&M                    
                       
GENERAL INTEREST                      
Investor Sentiment Shifts Wells Fargo                    
Use ‘Noah’s Ark’ survival kit for 2011 storms Farrell                    
Blackstone raises $15bn for buyout fund WSJ                    
                       
MARKET WARNINGS                      
Monthly Chart Cross Currents                    
Dissappearing Act Cross Currents                    
                       

CURRENCY WARS

                     
BarCap predicts another 'currency war' and more Korean turmoil Finance Asia                    
                       
MARKET & GOLD MANIPULATION                      
Gold Among Worst Asset Classes of New Year Kass                    
                       
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





12-22-10

 

 

1- SOVEREIGN DEBT & CREDIT CRISIS

 

SOVEREIGNS

 

 

Fed extends program to ease Europe debt crisis AP FED

 

European Stocks, U.S. Futures Gain on China EU Support BL

 

China supports EU efforts at financial stability AP

 

Bond Leader Pimco Sees Euro Zone in Danger Spiegel

Pricthard Coverage Telegraph
“Greece, Ireland and Portugal cannot get back on their feet without either their own currency or large transfer payments”

Eurozone crises left to fester VOX

SPAIN

OECD wants Spain tax rises if targets prove tricky Reuters

Portugal faces rating cut, Spanish debt costs rise Reuters

UK

UK budget deficit balloons to record high Telegraph

 

Ill winds blow British economy no good Independent

JAPAN

Japan to cut pension payout amid deflation AP

 

 

USA

 

 

The Money Supply, a triple from here? Pollaro

 

Research US: Upgrading our outlook for private consumption Danske

 

 

 

2- EU BANKING CRISIS

   

 

3- BOND BUBBLE

 

Bond Market Rejects Fed's Unconditional Love Baum

 

Stocks versus bonds, as rates rise Hulbert

 

$6.5-trillion global bond headache FP

 

That’s the total value of corporate bond issues maturing in 2011 and 2012 globally

 

Bond Sales Freeze - Fund Outflows Jump to Record  BL

4- STATE & LOCAL GOVERNMENT

 

Banks Look to Profit on Muni-Bond Fears WSJ


Weak Get Weaker as Muni Bonds Are Sold Off WSJ

 

Budget Cuts To Darken SoCal City Street Lights CBS

5- CENTRAL & EASTERN EUROPE

 


6-BANKING CRISIS II


The great bank heist of 2010 MW

7- RISK REVERSAL

 

 

8- COMMERCIAL REAL ESTATE

 

 

9-RESIDENTIAL REAL ESTATE - PHASE II

 

Homeowners use 'show me the note' to fight foreclosure USAT

 

Housing Chill Could Trash 2011 Dorfman

 

San Francisco Fed Offers Sympathy to Pre-Crisis Mortgage Lenders WSJ

 

10- EXPIRATION FINANCIAL CRISIS PROGRAM

 

 

11- PENSION & ENTITLEMENTS CRISIS



12- CHRONIC UNEMPLOYMENT


Food stamp use spikes to 1 in 7 CNN 

1 in 3 Working Families Considered ‘Low Income’ WSJ

Staffing Industry Hiring Revenue Surges as Jobs Remain Scarce BL

13- GOVERNMENT BACKSTOP INSURANCE

 

 

14- CORPORATE BANKRUPTCIES

 

Blockbuster plans to close 182 stores by April AP


17- CHINA BUBBLE


Land bidding needs to be strictly monitored nationwide ShanghaiD 

Liquidity alert at banks The Standard

19- PUBLIC POLICY MISCUES

 

Why the United States of America is Broke Mish

 

Keeping America Great CNBC
Friedman: America has been acting "exceptionally stupid for a decade"

 



 


OTHER TIPPING POINT CATEGORIES NOT LISTED ABOVE

 

24-RETAIL SALES

 

U.S. Retail Sales Growth Accelerated to 4.2% Last Week BL

 

26-GLOBAL OUTPUT GAP

 

 

31-FOOD PRICE PRESSURES

 

 

32-US STOCK MARKET VALUATIONS

 

 




   

CENTRAL BANKING MONETARY POLICIES, ACTIONS & ACTIVITIES

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

 

We’ve seen quantitative easing before – and it didn’t work G&M


 

 GENERAL INTEREST

 Investor Sentiment Shifts Wells Fargo

 

Use ‘Noah’s Ark’ survival kit for 2011 storms Farrell

Blackstone raises $15bn for buyout fund WSJ
To entice interest, Blackstone gave those willing to write cheques of about $US500 million better terms than others

MARKET WARNINGS

Monthly Chart Cross Currents

 


Dissappearing Act Cross Currents

 

 

 

 

CURRENCY WARS

BarCap predicts another 'currency war' and more Korean turmoil Finance Asia


MARKET & GOLD MANIPULATION

Gold Among Worst Asset Classes of New Year Kass


AUDIO / VIDEO

 

QUOTE OF THE WEEK



"Gold as money is incompatible with unlimited majority rule and scoffs at the idea that money is just 'credit'. It negates any rationale, however farfetched, for the existence of central banks. It precludes 'fractional reserve banking' or any other method of debasing its utility as a medium of exchange. Last and most important, it SEVERELY curbs the power of government to interfere in the lives of its citizens. No assembly of national “leaders” brought together to “modernize” a financial system will ever agree to its use as money. But let one nation anywhere implement it, and the lid blows off."  
 
William A Buckler
Publisher: The Privateer


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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

WEDNESDAY

12-22-10

DECEMBER

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 31  

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.

Copyright and Disclaimer

© 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.