Posts Tagged ‘depression’


October 5, 2011

The European problems are made from the continued deception of the policy makers that meander from crisis to crisis. Eurocrats denied that there was a sovereign credit crisis even as the BOND MARKET was aggressively selling the debt of the PIIGS. A problem in Greece when rates went above 10% on 2-year Greek Bonds? No, just some speculators moving the markets in an attempt to make a quick EURO. There are no problems in the EU. Now that the lies have given birth to a major crisis and possible global DEPRESSION, the EUROCRATS are beginning to acknowledge that something is rotten in Brussels.


Notes From Underground: Better Data Leads to More of the Same

October 3, 2011

Global equity markets were battered for another day as investor fears continued to outweigh any desire to add risk to portfolios. All U.S. data releases were better than expected and even auto sales proved to be a million more units above consensus on an annualized basis. The equity markets did try to rally but the attempt was short-lived and by market’s end the selloff was greater than 2.5%. Commodities were soft and the DOLLAR continued to rally on its haven status. The BOND market saw the impact of the “TWIST” as it is now October and the SOMA (SYSTEM OPEN MARKET ACCOUNT) began its work on affecting TREASURY DURATION.


Notes From Underground: Why is “DEPRESSION” Making its Way Back into the Mainstream Lexicon?

October 2, 2011

The news has been more than dismal for the last three months and the equity markets have certainly reflected fears of a renewed global recession. However, as interest rates are being held at historically low levels and growth continues to stall, the idea of a DEPRESSION is making its way onto the opinion pages of financial news.