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Category Archives: Spain is toast

The fine print on Spain’s new €100B credit card

  This should have been a big day for Spain, Italy, the rest of the PIIGS, and risk assets (stock markets) everywhere. But it wasn’t. The S&P500 dropped 1.25%. As you know, the Europeans cooked-up bailout #4 over the weekend. This time, it was for Spain. It was pitched as being ‘way too big’ and therefor akin to a ‘financial bazooka’. The IMF said […] Read the rest of this entry »

Spain is bailed out!

On Friday the denial stopped. Spain admitted it needed outside help. A bailout. Today (Saturday), Spain asked the EU for a bailout of its banking system but did not say how much they’d like. Spain did say, however, that they wanted to wait until June 21st to have the results of two studies suggesting how much money they’ll need. The EU blinked and offered €100B […] Read the rest of this entry »

The Top was in April.

  (Important) Housekeeping comments: 1. We’re approaching the date when we will combine 2 weekly email letters into 1. The new letter will contain a very brief summary and website link to facilitate login and access to the entire letter (economic news and data, analysis, the greedometers, and details on the specific investments we plan to buy / sell.) 2. An interactive greedometer gauge […] Read the rest of this entry »

The Top Cometh…

  The view presented by the greedometers still indicate April is the top for risk assets and that the economic slowdown of 2012 – 2013 began earlier this year. The US economy will probably slow to the point where it stalls completely and falls back into recession in the current quarter. The book (Greedometer. Dow 5000. Why nobody sees it coming.) will go into […] Read the rest of this entry »