Of Imminent Defaults And Self Deception. Kyle Bass Prepares For The Worst

In his latest letter to LPs, Kyle Bass of Hayman Capital Management, offers his tell-tale clarity on what may lie ahead for Europe and Japan. With his over-arching thesis of debt saturation becoming more plain to see around every corner, Bass bundles the simple (and somewhat unarguable) facts of quantitative analysis with a qualitative perspective on the cruel self-deception that we all see and read every day about Europe.

Whether it is Kahneman's "availability heuristic" (wherein participants assess the probability of an event based on whether relevant examples are cognitively "available"), the Pavlovian pro-cyclicality of thought, or the extraordinary delusions of groupthink, investors in today’s sovereign debt markets can't seem to envision the consequences of a default.

His Japanese scenario is no less convicted, as we have discussed a number of times, with the accelerant of this debt-bomb being the very-same European debacle and his time-frame for this is set to begin in the next few months.

Global Bailout Surprise Twist Endings Presents: "Stocks Soar As Investors Bet On Gov't Rescue Plan"

First Black Friday, and now the Modern Finance Farce Company Surprise Twist Ending takes on the global bailout...

How The U.S. Will Become A 3rd World Country (Part 1)

The United States is quickly becoming a post industrial neo-3rd-world country. Partly as a consequence of worsening unemployment and lack of economic opportunity, falling real wages and household incomes, growing poverty and increasing concentration of wealth, the U.S. government faces a historic fiscal crisis. Dominant corporate influence over the U.S. government, particularly by large banks, weakening rule of law at the federal level and destructive tax policies are compounding the economic problems facing the United States. Barring fundamental reforms or a hyperinflationary collapse of the U.S. dollar (due to the fiscal problems of the U.S. government), the deterioration of the U.S. economy will continue and accelerate. As the U.S. economy continues its decline, public health, nutrition and education, as well as the country’s infrastructure, will visibly deteriorate and the 3rd world status of the United States will become apparent.





Central Banks’ Latest Move Shows Desperation

Posted by: George Washington

Post date: 11/30/2011 - 18:35

Hey, at least a handful of Ben's buddies will make a bundle ...

China Manufacturing Contracts As New Export Orders See Biggest 2 Month Drop Since Dec2008

UPDATE: HSBC China Manufacturing PMI prints at 47.7, deteriorating at fastest rate (and lowest level) in 32 Months
Suddenly this morning's RRR cut doesn't feel quite so much like China doing Europe a favor. Chinese Manufacturing PMI printed at a lower-than-expectations 49, signaling its first contraction (<50) since Feb 2009. As if it was really ever so, as clearly concerns were growing since we had the Flash PMIs earlier in the month. Across the board, sub-indices were weak with New Orders and New Export Orders falling significantly as the latter remains below 50 and Inventories rose significantly. Notably New Export Orders have now fallen the most over two months since Dec 2008.

The Other One Percent: Corporate Psychopaths and the Global Financial Crisis

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Agriculture Probably The Best, Silver And Gold Perhaps Second Best

Admin at Jim Rogers Blog - 2 hours ago

"I suspect agriculture products would give better protection during the next several years although gold and silver will be good too – perhaps second best." - *in CNBC`s Investor Clinic* *Tickers, SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), ELEMENTS Rogers Intl Commodity Index - Agriculture Total Return ETN (RJA) * *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg a... more » 

The Fed is So Predictable  

Posted by: Chris Celi

Post date: 11/30/2011 - 17:15

The Fed is becoming a gigantic waste basket of bad assets. Waste baskets do not have infinite capacity.

MF Global: Proof that the U.S. government is not able or willing to protect investors.



The Euro-Crisis is Much Worse Than It Looks



Top central banks move to avoid global liquidity crunch.



China cuts reserve ratio in move to inject cash.



Harrisburg: a city at war with itself.



Prepare For Riots In Euro Collapse, Foreign Office Warns



European Banks Frantically Trying To Dump $7 Trillion of Cr*p Assets, But No One Will Buy Them



Venezuela Brings Home Gold Reserves



Today's Currency War May Be Tomorrow's Crisis



More Women Are Canning, Becoming Domestic Homesteaders






Crisis-hit Greeks leave the cities for a new rural life

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