Silver Catches Bid, Test of $30.50 Immanent

Gene Arensberg: Silver's current move not like previous ones

 

Silver Catches Bid, Test of $30.50 Immanent

 

According To Its National Bureau Of Statistics, Chinese Food Prices Have Increased By 4.6% In Ten Days!

Submitted by Tyler Durden on 02/14/2011 12:06 -0500

This is simply stunning. A quick parsing of the data released every ten days by the National Bureau Of Statistics of China indicates that the average price of food in 50 cities in the January 21-31 period has increased by 4.6% compared to the prior 10 day period (and 416% annualized)! Granted, this is a simple average calculation of the 29 food items tracked without any weighing, although a quick glance at the components confirms that tonight's Chinese CPI will likely be a doozy. Some of the key changes: cucumbers up 28.2% in ten days, kidney beans up 21.9%, rapes [no pun] up 14.5%, tomatoes up 12.9%, hair tails up 4.7%, bananas up 3.6%, chickens up 3.1%. And this, again, is in the past 10 days! But not all is lost: Soybean oil actually dropped by 0.1%. Time for China to release an adjusted adjusted CPI which excludes all foodstuffs except for Soybean oil (and remember, in China, food is 31.4% of CPI)... which actually is exactly what is about to happen.

As Brent Front Month Contract Rolls To April, Price Hits $103.75, Wheat Highest Since 2008

Submitted by Tyler Durden on 02/14/2011 10:47 -0500

As more and more contracts roll to an April OTR, the entire commodities curve is going parabolic. 

 

 

 

 

 

Neil Barofsky To Step Down As Head Of SIGTARP

Submitted by Tyler Durden on 02/14/2011 10:42 -0500

And so, the departures will continue (following Warsh and Weber) until all dissent is eliminated. More if we get it, but it really doesn't matter. The greatest unsupervised ponzi wealth transfer has just been greenlighted.

 

At $1.3 Billion, Insider Sales Surge To Highest Of 2011, Double Last Week's Total

Submitted by Tyler Durden on 02/14/2011 11:28 -0500

The latest S&P 500 insider buys/sells report is out, and it is more of the same. Looking at the 8 inside purchases for a total of $21.4 million one may say that the buying interest was not too shabby. That is until one realizes that there was one purchase for $20.2 million by News Corp insider skewing the entire distribution. Where the fun was, however, is as usual on the selling side, where insiders dumped the biggest amount of shares so far in 2011, selling over $1.3 billion worth of stock (a 61.4x insider buying to selling ratio), which was nearly double last week's $749 million. The biggest selling: MSFT ($417 million), Nasdaq ($268 million), and, surprise, Juniper at ($65 million) and AutoNation ($30.5 million). In other words, with each artificial uptick in the market, we see a new YTD record pick up in selling. With that in mind, remember that the S&P will hit a fresh all time high before the end of June. Cause Bernanke said so. 

 

 

 

A 50% Pick Up In Revenue In 2 Years: A Cheat Sheet For Obama's Wacky And Wonderful Budget

Submitted by Tyler Durden on 02/14/2011 11:35 -0500

We will spare you drinking (or reading as the case may be) the latest Koolaid from the White House. The only thing one needs to know about Obama's latest budget is that projected revenues are expected to grow from $2.2 trillion in 2011 to $3 trillion in 2013 (and $3.6 trillion in 2015). We wonder just where the tax increases will come from considering the new "compromising" administration has pretty much given up on the option of tax increases in order to get republican complicity to extend national looting and pillaging until the end of Obama's last term. What is unclear is whether the Treasury counts as revenues the interest payments remitted back to Geithner by the Fed on the trillions in monetized debt. In other words, the more debt monetized, the stronger the "revenues!"