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In The News Today

Posted: Jan 04 2011     By: Jim Sinclair      Post Edited: January 4, 2011 at 2:46 pm
Filed under: In The News

Dear CIGAs,
You might recall Armstrong’s article, "Show Me Money."
He has made predictions based on the last trade on the US Dollar and the Euro on the last business day of 2010.
Taking his advice predicated on the close, the following will occur in 2011.
1. The US dollar declines in 2011.
2. The euro remains neutral on balance in 2011.
That fits the situation well in my opinion.

Jim Sinclair’s Commentary
Maybe China would like a state with a good deal of waterfront property?

Illinois Has Days to Plug $13 Billion Deficit That Took Years to Produce By Tim Jones – Jan 3, 2011
Illinois lawmakers will try this week to accomplish in a few days what they have been unable to do in the past two years — resolve the state’s worst financial crisis.
The legislative session that began today as the House convened will take aim at a budget deficit of at least $13 billion, including a backlog of more than $6 billion in unpaid bills and almost $4 billion in missed payments to underfunded state pensions.
The fiscal mess is largely of the lawmakers’ own making, and failure to address the shortages threatens public schools, local governments and other public services, said Dan Hynes, the state’s outgoing comptroller.
“We’ve reached a very critical and concerning point,” Hynes said in an interview in his Chicago office, with packing boxes stacked in the corner. “What’s missing right now is a general understanding by the public of where we are, of how bad it is, and what the fallout would be if we don’t deal with it properly.”
What the public may not appreciate, Wall Street does. Illinois shares with California the lowest U.S. state credit rating from Moody’s Investors Service, which in September forecast possible “further financial deterioration.” Unlike California, Moody’s assigned Illinois a negative outlook.
More…