A reduction of this magnitude without a depression and social "tensions" is highly unlikely ...... Especially when the numbers are based on "realistic" forecasts that even would make "Wall Street Finest" proud.....
Eine Reduzierung in dieser Größenordnung ist ohne eine gefühlte Depression sowie starken sozialen "Spannungen" nicht vorstellbar..... Besonders vertrauenerweckend ist zudem das die Prognosen auf gewohnt konservativen Annahmen basieren die selbst Wall Street Finest blaß aussehen lassen..... ;-)
This explains why GOLD Is Not A $ Story........ Wouldn´t also surprise me if charts like this won´t be seen as "unusual" any more down the road......
Damit erklärt sich auch leicht warum GOLD keinesfalls lediglich eine $ Story ist........ Zudem befürchte ich insgeheim das selbst zur Zeit noch aussergewöhnliche Charts wie dieser nicht länger die absolute Ausnahme bleiben......
The following story fits perfectly.......
Die nachfolgende Meldung passt da hervorragend ins Gesamtbild......
Obama Pays More Than Buffett as U.S. Risks AAA Rating
March 22 (Bloomberg) — The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama. Two-year notes sold by the billionaire’s Berkshire Hathaway Inc. in February yield 3.5 basis points less than Treasuries of similar maturity, according to data compiled by Bloomberg.Reassuring........ At least the worldwide banking system is now "well capitalised" and not in danger of needing another bailout....... ;-)
Procter & Gamble Co., Johnson & Johnson and Lowe’s Cos. debt also traded at lower yields in recent weeks, a situation former Lehman Brothers Holdings Inc. chief fixed-income strategist Jack Malvey calls an “exceedingly rare” event in the history of the bond market.
In reflecting on why the past 15 years have been so riddled by irresponsible speculation, it is impossible to ignore the rise over that same period of widely-viewed financial programming that is equally riddled with cartoonish content that encourages short-term thinking and speculation (buy-buy-buy! sell-sell-sell! boo-yah!)"Anti Spin" from Chris Whalen via NC ( MUST READ!!!!)
In fact, the banking system is continuing to sink under bad loans and even worse securities losses. Telling the public that the banks are “fixed” is irresponsible. Unfortunately this false perception is widespread, including among major media such as CNBC and also with a number of my clients in the hedge fund world.But at least Bubblevision is a very good tool to spot sentiment......
He figures Citi is worth about $8.50 in that outlook."Wall Street Finest & Lehman June 2008 ZH
H/T Claire Morel / ReutersThe biggest JGB holder on the planet – the Government Pension Investment Fund (GPIF) – which has already admitted it’s no longer able to roll maturing bonds, has announced that it will open credit lines so it doesn’t have to sell them to fund its obligations…
To spell that out: we are going into a year in which the government has ¥213 trillion of bonds to roll over… and the biggest holder of JGBs is openly admitting he has no new inflows of money
Click here & here to get the entire report... Some pretty scary charts & the following stat............So who will fund the Japanese government´s deficit in the future? It is not likely to be the international capital markets, especially if its bonds are offering only a 1.5% yield.
But if international investors were to demand triple that, pricing JGBs in line with international bond market peers (all priced too generously in my opinion) the game would soon be up because Japan´s current debt service already amounts to 35% of pre-bond issuance revenues.
H/T Zero Hedge
For more on this topic make sure you visit the excellent slide show Japan - The Point Of No Return from Vitaliy N. Katsenelson via Barry
Wer mehr zu diesem Thema sehen möchte dem empfehle ich die erstklassige Ansammlung von Charts Japan - The Point Of No Return von Vitaliy N. Katsenelson via Barry
.... the past decade. Wall Street lost trillions, lost 11% of your money. Adjusted for inflation, Wall Street lost 20% of your money.
WIESBADEN – As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, 75.0% (EUR 746.6 billion) of all goods exported from Germany in 2008 (to the value of EUR 994.9 billion) went to European countries.
The second largest sales market for German goods was Asia with a share of 11.8% (EUR 117.2 billion), followed by America with a share of 10.2% (EUR 102.0 billion).
Only 2.0% (EUR 19.7 billion) of all German exports were sold to Africa and 0.8% (EUR 7.6 billion) to Australia and Oceania.
H/T TGTGT"Europe is emerging phoenix-like from the ashes as confidence in its banks boosts overall confidence in European equities," said Gary Baker, head of European equity strategy at BofA Merrill Lynch Global Research.:-) !
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