Let's say it's fair game. Losses don't come as a surprise no more than should come the sophisticated financial products hard selling to people unable to suspect or evaluate the type of risks these products exposed their savings to. The least being tell me the people's "rep" don't know the latest piece of legislation for consumer's protection since the so called "crisis" hasn't taken the slightest step towards more security for the financial products subscribers. Tell me more about the new Consumer Financial Protection Bureau your "rep" have lauched to make sure any more Natixis stuff won't go on...!

Just kidding.

Well, that just the game..... Jospin and a few others have been repeatedly warned of the consequences the statutory change of that bank will have, not to mention quite a few elected "rep" (+Juju, he's excused he couldn't do much anyway) and the treasury (Direction du Tresor)..... who happened to cover up how were sold the first set of unquoted stocks (parts sociales des caisses d'epargne) and the inevitable consequences the experience will have on how financial products are sold without any consumer protection regarding their level of understanding.

None of these situations were ignored by the authorities. Up to the AMF that can't say they ignored their notice warning were not given to subscribers.... a regular practice.

What Capitalism?

Well, it's just the proof that a diaspora action well driven will be very tough to offset.... dirty policies have a price.

Whatever Wall Street sold to high profile bank professionals or very greedy and lazy investors doesn't explain to me no more than Capitalism does why some morons have been selling risky mortgages to uneducated people no more than it does explain to me how retirees over 75 and whatever their age actually that never owned stocks their entire life have seen their life time savings gone after trusting their favourite adviser at the local branch of their local bank buying Natixis stocks....

And guess what I mean it!

I just happened to not buy that.

Don't know can't get a hold of his.

Got it? Just read something funny, don't know if true, Oliver Stone had say in 1987 when he did the first Wall Street, "I had in mind at the time that Capitalism will get better, more socially responsible... nicer? Why expect from what after all is just a system to organise the exchange of good and services some vertue ethics every single area of society has been unable to show during the same period of time?

I can't tell you as it seems that if someone says I'm Breizh, first, second and third and the damBIP BIP french stuff takes the 100th seat, he or she'll be hunted down, deprived of jobs or any revenue, many inquiries will go on and more... Of course the same stuff goes on if someone says I'm Corsican first, second and third or anyone else EUSKADI and others, it can even ended being accused of murder, I'd say the COLONA trial looks like that.

So the day you ready to move, you just jump into the scheme and it's done.

What you can do is buy UK companies that can be easely transferred to a UK registrar through an investor company scheme the company runs (ie the list).

Done?

What just amased me really is that it didn't seem to bother anybody.

Don't know. Texas for sure has Castle law.

He wrote earlier he will ask asylum to Alaska.

Music and in the morning 97.5 my hometown country station. I saw today some guys argueing pretty badly where I have a cup of coffee. Didn't end up with a fight but with some death threats and stuff... Can't imagine that back home, that kind of stuff is very serious. You want sometime behind bars, you just bought yourself a one way ticket if not a bullet if the guy feels you were serious and got scared. Never do that, never ever.

I wish I could teleport myself in Kissimmee. Missing home?

It seems they don't know how to cut spendings? I mean may be.

>You're back? Just got there .

It does trigger some wild reactions... I tried but anytime they talk about their budget woes, they call tax hikes "savings" meaning spending cuts....???.?§?.? Weird! Or is it just me?

Thanks anyway.

What have you been up to?

Economy : What you ever learned about it is dead?

1. The worse the data is
2. The bigger the QE is expected to be
3. The higher will go both Stocks and Bonds Markets as the Central Bank buying lowers yields

Better have a poor economy after a financial crisis triggering unconventional Central bank measures than a healthy one with just a recession I guess ?

I have problems with the stuff too. A stock market that can only go higher data good or bad is rather unusual, to think that the good or bad data echoing the economic situation has absolutely no effects on companies profits is even stranger. Vote for Rick!

FOREX.com Market Commentary

FOREX.com Market Commentary

To keep in mind why in the first place QE was introduced. Unconventional measures haven't been introduced to boost markets or act on a recession but to prevent a depression and massive deflation. To conclude the Fed will jump into another row of QE just to fight a slowing recovery alone is doubtful, "Measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability. With substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to remain subdued for some time before rising to levels the Committee considers consistent with its mandate. " as well as

"The Committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate. " let think the deflation pressures are under a Fed very high scrutinity even more than the may be slowing recovery is?

I do apoligised for this delayed response Bill. But YES I think these two young ladies are patriots in their own ways. Whatever the clip was about, Katy is a very talented and sucessful young artist contributing to the making of modern times American culture you can hear all over the world's radios. So is Bristol. It must have been horrible to be thrown in the press with a not exactly planned pregancy, so young, feeling somewhat responsible to watch her Mum demonised and see her principles mocked as well as her entire family in the midst of a political campaign. If dancing with the stars heal some, well good.

Both are Patriots.

I shot twice already this month. We're about to renew. £ big time and USD.

Must Read (2)

I meant end of it. Keep in mind the following.
Unemployment number going where?

The credit bubble has burst leading to home prices deflation partially replaced in the economy with a sovereign credit bubble of obviously a smaller size to fuel the public spending (so called stimulus) aimed at relay the private spending (both companies and households) deprived of credit. Has the GDP contracted enough to match the no free lunch theory as the deleverage goes on?

Buffett: Tax the Rich (doesn't always mean the same thing depending where you are - the price of growth, the more you leave to the People to spend and invest, the more the economy grow overtime)

"When a country needs more income, and we do -- we're only taking in 15 percent of GDP ... they should get it from the people that have it."
WARREN BUFFETT TO CNBC: "WE'RE STILL IN A RECESSION"
U.S. CAPITALISM'S 'REGENERATIVE CAPACITY' MORE IMPORTANT THAN GOVERNMENT STIMULUS
COMPLETE INTERVIEW TRANSCRIPT

Growth :

Spain unveils ‘austere’ 2011 budget

Europe’s debt problems are turning into a ‘rolling crisis’, according to Lena Komileva of Tullett Prebon

Asian stocks drop amid recovery fears

It's a quarter thing....

It's just a bit new I guess.

Looks good doesn't it?

Did you say Social Security the unique french retirement system?

No kidding?
Poor Kid on Block Fleeced by the Elderly: Laurence Kotlikoff

Calling Social Security contributions part of personal savings seems as natural as not. After all, the system provides most Americans with much of their old-age income. And it sends us an annual statement detailing what we’ve contributed and can expect to receive in retirement. That’s pretty darn personal.

It's fair game, the operators we are need to know the institutions that have the ressources to meet the capital requirements in a timely fashion and those that have plans to do so sometime in the 2050s....

At this time, we need ratings to clear up the banks that already meet the Basel capital requirements or have credible detailed plans to do so before the year's end and the others that will start 2011 with no means to reach the kind of financial strengh we expect from respected financial institutions regardless of the Basel calendar of obligations as we need the rating agencies to highlight more than that knowing the political bargaining that took place to get the kind of results we saw....

Do you agree?

Today's can't miss

Hedge Fund Crackdown May Snare European Real Estate Investors

Europe’s commercial real estate owners, saddled with 1.9 trillion euros ($2.5 trillion) of debt, may be forced to make billions of euros in cash payments under planned laws that would treat them like hedge funds.
Catastrophic’
“That would be a catastrophic result for property businesses using derivatives like interest-rate swaps,” according to a European Property Federation study on the proposals. “Some would be unable to fund margin requirements and could default on their borrowings and risk insolvency.”

That kind of proposal may trigger an even bigger real estate crisis than the subprimes did with much worse consequences as EU states won't be able to put up a banking bailout plan of such a tremendous scale after the difficulties we saw to avoid Greece's and other peripherical's economies defaults.

We have to get the rating agencies to clear up fast the EU banks already stuck with hundreds of billions of risky sovereign debts and unable to meet the Basel capital requirements out of the way before they cause another catastrophy after we know the poor investments they have made contributing greatly to the subprime's problem....

out of the market

German and Irish data fuel growth fears
Goldman Sachs Says Tax Rise May Erase U.S. First-Half Growth

We ought to get pretty quickly now from the rating agencies is the downgrade of banks that do not meet the Basel new requirements as soon as DB is done. We must be clear, those that don't must face the consequences and assume the downgrade that comes with it? I mean banks with a significant part of their activity being international.

Do you agree and does next week meeting in London suits you?

They get nothing from the Paris regime that don't they don't pay for but the ideas, language and political system domination they are under for now such a long time make any change scary... What do you really get out of the money you give is the question to ask and did you ever ask yourself what if they weren't there what would be the change? What do they do for us we can't do for ourselves and our community? If we pay for what we get shoudn't we be in charge and able to change who, what and how things are done.... for us?

What do they do more, take or give? What do we get from their presence and domination we can't replace? Have our culture and language gain or loose, have they ever done something to promote it worldwide? Is there anything our community and each of us don't know how to do that we can't get done with a better deal we'd be benefiting more with someone else?

EUSKADI : Reunification, a right for Euskadi's voters to decide

País Vasco - A thriving community with a very active legislative branch the Paris regime refuses to North Euskadi....

Leaving it to the voters, we are working on a date for the Euskadi Heritage National day. The Council hasn't yet decided anything, thinking of l'Aberri Eguna or any suitable date.

After several comments made, the Council decided to adjust some of its previous statements. The Heritage National days aren't meant to be some kind of remembrance day to honor the fallen... it is to celebrate thriving communities, their language, their culture, the best of their secular traditions and their promising future as we reverse the ugly, degrading and inhuman policies the Paris regime engaged in for decades to eradicate anything different and steal their wealth. As we reverse these policies, we want to make it clear, we are telling folks forced to hide often humiliated, you guys have a great Culture, a fantastic language and you belong to a very honorable and thriving community we will honor, RUN with it.

only in San Francisco

I'd say that, DB is the only one that drew all the consequences of both the crisis and Basel, raising its capital adequately..... They can say whatever they want, HSBC didn't need any bailout of any kind.... That's all I mean.... the kind that say I'll meet bank capital requirements through profit accumulation is ludicrous... requirements aimed at prevent future crisis.... shameful!

Must Read and Can't Miss - combined Eurozone Banks in dire straights

Deflation: Is it real? What can you do?
Central Banks Struggle for Exit as Recovery Weakens
Ireland fears hit eurozone stocks
Ireland’s economic recovery stalls
Spread between Irish and German bond yields hits record
Germany leads slowdown in eurozone
Purchasing managers’ survey shows pace of expansion tumbling
Gold price on the way back to over 1000 euros as the eurozone sovereign debt crisis hits again the head lines as eurozone periphericals CDS reach new highs.

Can't miss

Yoshikami: Real Estate's Double Dip
ECB bond buying signals new strains
Credit Agricole Sees $1,350 Gold At Year-End
Manager: It's a Short-Covering Rally—Take Profits Now!
Debt Restructuring in Euro Zone Inevitable: Economists
BoE Sees Renewed Easing Calls, Lone Hike Vote Updated 4 hours ago
BOE Says More Stimulus on Agenda After Posen Proposes `Plan B'
Today's Europe Industrial Orders Decline More Than Forecast Tomorrow's PMI?

;-)How long does it take before you start missing home? Just wondering.

Gold Far From Real Record: Chart of the Day

Don't know what she really meant?? Does it mean some sites may come under attacks by muslims today in NYC, it's unclear, I'd recommend you turn to AMCHA if possible if you wanna find out.

I whished I had been left in peace at least for today.... I mean they're terrible.
Visit http://firetheimam.com/
http://www.facebook.com/firetheimam

Over the last several weeks, we reported the facts -- this Imam is hardly a moderate. He refuses to call Hamas a terrorist organization, and has said that the US has more Muslim blood on their hands then al-Qaeda. Imam Rauf calls for Sharia law to be brought to the US and for the Israeli-Palestinian conflict to be "solved" by a one state (Arab!) solution. Appalling!

www.OneJerusalem.org

And now guess what, hopefully, the french are going to do some honest reporting about NYC.

Was stuck. Don't know why.

I'm about to leave it for now. Send me the graphs for next week in the morning on sunday.

Well, I guess that if Christians didn't all become Muslims at the time, they had some good reasons to choose to do so meaning they deeply disagreed with the content I suppose. I told you you have to refer to what lead to the First Amend and try to find out what had in mind the Founders when writing it and choosing to have it as the first words of the Bill of Rights. What did they want to solve then, what were the conflicting situations they had met and what were their thoughts about the nature and the risks of future conflicts such an Amend would be able to solve? And frankly, as controversial it may sound, to me, the situation in which the Pastor Jones is is exactly what the Founders were trying to solve with the First Amend. Ask yourself who is the weakiest party at the dispute, who is threatening to solve it through the use of force or intimidation and who is facing a possible Federal Gov intervention even if it is a friendly type of intervention? The answer to that clearly indicates to me who and why the First Amend is protecting. That said, should the Pastor go ahead is something he and his community have to decide for themselves but don't make mistakes I can predict that if nothing is done to care for the 09/11 victims families pain over what was a very inappropriate and sick project, we'll see more of that.

I'm looking for the course I had so many years ago if I find it, will send it.

Today's can't miss (Updated)

With Global Food Prices Rising, What Can Investors Do?

U.S. Job-Market Woes Prompt Reductions in Growth Forecasts

Today's can't miss

Economy to Slow Further but Rebound Next Year: Bullard (I go for second half)
Trichet Says Will `Take Time' to Wean Banks Off Emergency ECB Liquidity (Broad Credit availability may not be on the horizon yet)
Looking into it now.

I haven't change anything I still support the view, 1400 1500 by year's end. Everything is pointing in that direction.

Well, it's a little teaching. Muslims should jihad their supremacist leaning, they've got a problem.
The cross graph?

Not to me you know may be cause I know Gainesville's people and the way they look at things. To me they're doin a very American thing which is tellin look the Founding Fathers granted us with the very same rights that we can use to hurt one another's feelings, it's up to us to go a little further. The very same legal right leading to the building of a mosque at Ground Zero allows the Pastor Jones to worship the way he wants including burning some books. The Constitution guarantees the Pastor can do so without any intervention from the Gov or anybody else.

DB to raise, got more?

U.S. Economic Growth to Halt in Second Half: Roubini

I have but didn't get yours yet. Frankly haven't had the time yet but will be looking for it in a few minutes. What I can tell you is the point they wanted to make is when you aren't shy to hurt the 09/11 victims families using the rights the first Amend is granting you with, I guess you shoudn't be shy to see your own hurt as well by someone's using the very same religious freedom granted by the very same 1st Amend? When you worship the way you want (a constitutional right) regardless others feelings I guess you should expect to see others do exactly the same?

Have it good!

Hurry cause I wanna be gone.

Well, I won't say that I'm happy with that... the anti-cyclical buffer seems to be gone but much worse to me, the so called "minority stakes in other financial firms" to count as capital is definitly wrong and will lead to a new row of managements gaming the new set of rules, it doesn't meet any of the requirements you expect from capital in a time of crisis in the financial system regarding the liquidity rules. Finally, the transition period is much too long given the situation, a bet on future profits accumulation to meet the new capital standards looks to me more like gambling than banking.

What have you heard so far about the proposal?

Today's can't miss (updated)

Stocks Advance as Debt Concern Eases; Treasuries Decline

“Today’s news flow on debt sales in Europe is giving some relief,” said Roberto Campani, senior portfolio manager at Pioneer Investments in Dublin, which manages the equivalent of $236 billion. “We are in a situation where the swinging from risk-on to risk-off is a bit too quick as skepticism over a self-sustainable economic recovery and concern over a double-dip in western markets persist."

Basel Capital Ratio Compromise Reached, Zeitler Says
Policy makers are seeking to raise the quality and quantity of reserves held by banks to avoid another financial crisis. Governments have been wrangling over the details with France and Germany among those concerned that their banks and economies wouldn’t be able to bear the burden of tougher capital requirements until economic recoveries took hold. Group of 20 leaders meet in November in Seoul to approve the rules.

No, it was yesterday BGA wholesale and export federation.

The statement mentions GDP may slow by more than half next year. What are your numbers?

Valentin, circulez...! Ah Yann....! Ainsi la foi... jouerait un rôle? La vérité sur la nature et le degré du rôle des activités des populations dans des manifestations climatiques extrêmes dépendrait elle de la croyance dans ce rôle?

Today's can't miss

German Exports Unexpectedly Decline 1.5% as Global Economic Recovery Slows

Meredith's, Even though emerging markets will continue to expand, they won’t do so fast enough to offset the declines in the U.S. and Europe, Whitney said.

IMF foresees Greece's debt topping out 149% of GDP in 2012...

Gartman: Gold to Hit New Highs? I see a nice run for softs too.

I meant yours?

Updated?

Not that far from my hometown.

I strongly disagree with that kind of fake analysis... I know Gainesville and I can say it's a very nice city with very good people, there is no extremist there and certainly not in Bastist Church.... What you have instead as I see it is very good people tired of too much political correctness that wanted to make their point and obviously they have.... They haven't done anything yet and just said they will (burn a coran)to expose two things, islam is an ideology of hatred and death promoting violence throughout the world, and, the hypocrisy of a numberless people pretending there is no problem, it's a great faith.

They say, look, beginning of 2010, Malaysia, not a bible but several churches were set on fire. Pakistan, near Sialkot, a church was set in fire.... we could go on like that with similar incidents in many parts of the world with a muslim majority. Have you seen any backlash verses muslim communities where possible such as those Teheran and others have promised or did you hear any of those warning us today about the potential threats our action may cause making some similar statements about the consequences these churches set on fire may have for muslim communities where they are minorities?

Now, they say, tell me they don't think think just like us, yes islam is an enterprise of violence they know it and they know we are not.

To be honest, I mean, they make a point.

Are you done with the graphs?

Oh well, actually I wouldn't be surprised some have accepted to classify 09/11 terrorists under conditions.... you know.

Relax, the smiley was for Louise, she cracks me up, have you seen that smile she's got?

;))

Lies and some form of blackmail in 2001 ie "they're terrorists too... classify mine, I'll classify yours... despite the very different nature of the conflict doesn't necessarily lead to no change for ever, does it? I mean, reevaluation of what's at stake, why, what for, justice, the marginalisation of Euskal Herria's heritage, culture, language and interests creating a moral vaccum that ideologies of hatred and death can fill are enough for the wise to conclude that a decision made under extreme circumstances easily understandable does not have a definitive character?

I bet it doesn't, just wait.

keyboard? Just kidding!

Important reminder, Protection of money market investors at risk (sicav monetaire)

Forward that one. Doesn't make much noise but....

However, even before the crisis, financial rescues were far from uncommon, according to Moody’s. It found that 146 funds would have broken the buck without the intervention of their parent company between 1980 and mid-2007, suggesting supposedly ultra-conservative money market funds are vulnerable to losses even in relatively normal market conditions.

And more

History littered with bail-outs - Sep-05
‘Boring’ products that hid high risks - May-11
Treasurers avoid money funds - Jan-31
New rules for money funds - Dec-13
Money funds face qualifying criteria - Jul-12

What have you got?

We're moving. Was told that privately, François admitted he'd rather be in a coalition government negociating a status for the Small Nations reinstating their rights including the Euskadi reunification than seeing a UN envoy or any international body or forces, should the situation to deteriorate rapidly, in charge of solving the coming crisis.

.....C'est amusant l'idée que se font de Dieu, les hommes.....

Ce qui sans doute m'amuse le plus, c'est qu'ils croient qu'ils puissent avoir été dotés du language pour alternativement me mentir, se mentir à eux-même et sans cesse inventer de nouvelles justifications aux manifestations de leurs bas instincts ou se moquer de mes autres créations...., de tous animaux que j'ai crée c'est bien le seul à croire cela, tous les autres n'utilisent-ils pas le language qu'à des choses utiles et tout compte fait moins nuisibles?

Today's can't miss

Commodities
India Sugar Production Increases to Match Demand Next Year, Minister Says

Liked Art, you'll love Larry
Why Is the Paris-Based OECD Pushing Obama's Big-Government Agenda With Your Tax Dollars?

Currencies
Canada's Dollar Strengthens for First Week in a Month After U.S. Adds Jobs

Macro numbers
Oil Ends Below $75 as ISM Disappoints, Earl Fades
Months of pain lie ahead

Markets
Investors  turn to linkers and gold to hedge uncertainty
Fears grow over global food supply Softs were late, grains have now made some gains and have reached a better price for producers, next livestock to head to the new normal but when?
Trade Gap in U.S. Probably Narrowed on Falling Imports as Economy Slowed

Months of weak growth and high unemployment lie ahead

Cautionary tale about exit strategies from 1930s Japan

Roubini Says Dollar, Franc May Beat Gold in Recession (Expectations Management, it's slowing but less than some feared at least for now, do you feel better?)

Roubini also said the underlying problem is that developed- economy debts need to be reduced, which will take time and require an extended period of slow growth, he said.
Also speaking from Cernobbio, Harvard University historian Niall Ferguson said the global economy remains plagued by the trade imbalances that helped trigger the financial crisis and that U.S. consumers are not going to provide the engine of the growth.
“If global imbalances caused this crisis, the bad news is they’re back,” he said. “The short answer is that nothing is going to replace the U.S. consumer in the short term.”

Don't miss Art (CNBC)

Economists: Gloom and Doom Ahead, Especially in US

"Greece will not make it," said Sinn. He said the world can either subsidize Athens indefinitely, force a degree of austerity that actually risks "civil war," or — in what he suggested was the least bad option — encourage Greece to restore its drachma currency despite the domestic banking collapse that could well result.

I'm done and off.

My last, Fed May Face Less Pressure to Add Stimulus After Jobs Report but it won't improve the numbers, will it?

Did well?

Think I read it in the Hutffington.

No, on this one I stick to Art and I ain't gonna buy either the worker's exhaustion stuff...

Stay tuned

Treasury 10-Year Yield Will Fall Below 2%, Bank of America Says
The Fed will purchase $500 billion to $750 billion of Treasuries over six months and possibly more as needed to support the economy in a second round of quantitative easing, according to Priya Misra, head of U.S. rates strategy at Bank of America Merrill Lynch.

US companies cut 10,000 jobs in August

Eurozone manufacturing recovery slowed in August. Strong growth continued in Germany and France, but downturn in Greece deepened
Key points:
􀂃 Final Eurozone Manufacturing PMI at six-month low of 55.1 in August, as growth of output and new orders moderated.
􀂃 Germany, France and Austria recorded fastest rates of output growth.
􀂃 Job creation continued, but still centred on Germany, the Netherlands and Austria.

Rob Dobson, Senior Economist at Markit said: “The Eurozone Manufacturing PMI suggests that the expected cooling of the sector from the buoyant growth rates seen earlier in the year is underway. Expansion of output and new orders both slowed noticeably in August although, on current form, manufacturing should provide a solid contribution to third quarter GDP.
“However, drilling down into the national data highlights just how uneven the recovery remains. August saw France, Germany and Austria stay well ahead of a subdued chasing pack including Spain and Italy, while Greece remained firmly in the grips of a deep downturn. Imbalances also remain in the labour market, with jobs created only in Germany, Austria and the Netherlands.
“Meanwhile, weaker global trade flows led to the smallest increase in new export orders since January, which may lead to a slower growth profile at Eurozone manufacturers in the coming months.”

To watch "The rate of contraction in Greece accelerated sharply since July, following a similar quickening in the pace of reduction in new orders." A situation with the potential to undermine significantly the efforts in which the country is engaged to reduce its deficits, a step closer to restructuring with the sovereign debt crisis back in the headlines (Sovereign Debt Worries Will Last 10 Years: Strategist).

Can anyone afford to neglect homework?

Euro zone PMI at 6-month low
Manufacturing activity in the euro zone expanded in August at its slowest pace since February


UK Manufacturing PMI falls to lowest since November
Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.

"Taken alongside the euro zone figures published today, it looks as if a broad industrial slowdown is occurring across much of the EU."

Making lemonade out of lemons

Ultimately, however, we would prefer to use any correction higher in USD/JPY or JPY-crosses and other risk assets as a selling opportunity in anticipation of renewed pessimism in the weeks ahead. Next Friday's US Aug. employment report should serve as a prominent reminder of the weak rate of job creation in the US and the improbability of a near-term improvement in the outlook. In the next section, we highlight some key price levels to monitor any potential correction or subsequent relapse.