Pardon Me, Vallejo DID File for Bankruptcy
How dumb was I when I said they avoided bankruptcy in my recent article - knowing what I know about how institutions are run these days, I should have looked further.
One of our readers was kind enough to update me on the fact that Vallejo, CA DID file for chapter 9 bankruptcy protection. Here is […]
When City Hall Forecloses
Rising labor costs and lower property tax revenue will cause municipal bankruptcies
There are 350 or so cities and towns just in the state of Massachusetts. What is the chance that every municipality in the US has a good financial manager at the helm?
Think about it - if the best MBA’s working at Merill Lynch, […]
Jim Rogers: “…you should have another job”
Jim Rogers totally fires off on CNBC’s market cheerleaders. Watch this spectacular video:
CNBC - Rogers - July 15, 2008
Most notable quotes:
“if you’re blaming all this on short sellers, then you should have another job.”
and…
“last weekend we doubled the national debt”
the first quote he was responding to a comment by Bertha Coombs of […]
Where the Heck Are They Going Then???
An article from Multi-Housing News featured a report by the National Multi Housing Council reporting that rising foreclosures are not leading to a significant increase in rental demand:
MH News Article
My question, as you could probably guess, is where the heck are they going? Perhaps many of these people are shacking up with parents or friends […]
Randy Pausch is Gone
FYI - many of you saw my post on Randy Pausch’s “Last Lecture” at Carnegie Mellon. He had a website tracking his progress through chemotherapy and treatment. Unfortunately, he died over the weekend.
Here is the Carnegie Mellon page posted as a tribute:
CM Pausch Page
If you haven’t seen his lecture, you really should. It was […]
Absolutely One of the Best Summaries of Fannie & Freddie CORRUPTION
This piece from the Wall Street Journal is perhaps one of the best summaries of why both political parties are full of deadbeats and that we need term limits yesterday. Reading this I am simply incredulous:
Wall Street Journal - Gigot Opinion Piece
This makes me sick…please support term limits - our founding fathers did not […]
Reality Strikes in the form of…BAD HOUSING DATA
The rah rah crowd on financial TV must be befuddled. The market was up for the past week as investors drank the rally Kool-Aid. Banks, retail, housing and other consumer related stocks rose. Many thought we had seen the bottom - but as Bill Fleckenstein often says, we still haven’t fixed the central problem - […]
The Latest From Jim Grant & Marc Faber
For those of you that simply enjoy hearing from the smarter people in the financial/economic world, here are a couple of the latest articles on two of my favorite guys:
Jim Grant in the Wall Street Journal
Marc Faber on Lateline Business in Australia
Jim Grant ponders why there is no public outrage over Wall Street’s AND […]
Wood Stoves Flyin’ Off the Shelves
I recently visited some friends in Maine. Driving up Route 16 through Conway, NH and then heading East toward Fryeburg, ME, I noticed just how much life is different up there. The businesses lining the sides of the road include wood carvers, roof rakers, prefab house sellers, and wood stove sales outfits. I don’t see […]
The Coming Run on Biotech - Genentech is a 1st or 2nd Inning Play
[Editor addition - today (7.23.08) Roche announced another purchase - see HERE )
See my latest 15 articles on the right hand column — >
Today, Roche Holding AG, a large Pharmaceutical company, announced that they will offer over $44 billion to buy out the remaining shares of Genentech - See Yahoo Finance Story Here. Many will […]
They Say This Couldn’t Happen in San Francisco
Numerous people, including peppy real estate agents, novice “investors,” and disinterested laymen all have told me that San Francisco real estate prices are recession-proof. They said prices couldn’t fall there - too many rich tech people, high income singles, and a beautiful, livable city all combined as evidence of that assumption.
Well, they are WRONG. […]
Fleckenstein and Battipaglia Explain Things Perfectly
Two conversations today that you may find helpful in understanding the current mess:
Bill Fleckenstein, of Fleckenstein Capital, explains the mess in the financial markets and why the proposed change to the short sale uptick rule is foolish:
CNBC LINK
Joe Battipaglia, of Stifel Nicholas, seems to be the one with a strong opinion on this video […]
Jim Rogers Speaks Again - Bailout is a “Disaster”
Jim Rogers, one of my favorite “smart people” to listen to, was on Bloomberg this morning:
Jim Rogers on Bloomberg (click the video link to the right of the news story)
As many of you may know, Jim is not a fan of government bailouts and he certainly predicted the current Freddie/Fannie disaster. He, along with Marc […]
The Pickins Plan
T. Boone Pickens is going out on his own to try to influence the national debate on our use of and dependence on foreign oil:
www.pickensplan.com
Here is a video of him discussing his plan:
Video
It’s great to see some positive ACTION! He’s right - if we can mix our knowledge and ingenuity in wind, solar, and […]
Cantarell’s Lesson: Oil Will Run Out Faster Than We Can Find It
Anyone who was a member of Congress 30 years ago should be thoroughly questioned by the media and the public. Why? We need to know who voted against oil exploration, development of nuclear power plants, and gas exploration. Now I know the environmentalists among you are experiencing internal temperature increases, however, look at where we […]
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