The bad news seems overpowering. When the words of pessimism ring everywhere and permeate the soul. When all seems lost to so many. In times such as these, positive indicators are often lost on the masses or at least drowned out in the din of the howlings from the salivating horsemen.
For your enjoyment;
http://www.cbc.ca/money/story/2009/03/03/f-canada-banks.html
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There is lots to be upbeat about Comrade but the tooting of our banks isn't one of them except for some of the smaller ones like LB.
ReplyDeleteThe sun will shine once again. The msm negativity will go away once his majesty is toppled in another election.
http://krugman.blogs.nytimes.com/2009/03/04/marginal-marginalizers/#comments
This one is kind of funny especially the Eisenhower quote. After the CNN interview? Our leader of supposed high intellect is a member of the 'negligible few'. ;)
China is presenting their economic stimulus. Remember this, China's motivation is China, nothing and no one else.
I don't believe in coincidence. Garth is right about a climb in the markets. There is a U.S. dollar/treasury bubble. Wonder what's going to happen if that bubble bursts?
A walk down Memory Lane. Maxine, or Little Maxine as she used to be known, was also a sweet, cute and lovable hard-assed explosion of a child to live with. Read on . . .
ReplyDelete------
Little Maxine came into the kitchen where her mother was making dinner. Her birthday was coming up and she thought this was a good time to tell her mother what she wanted. 'Mom, I want a bike for my birthday.'
Now, Little Maxine was a bit of a troublemaker. She had gotten into trouble at school and at home. Little Maxine's mother asked her if she thought she deserved to get a bike for her birthday and she, of course, thought she did.
Little Maxine's mother, being a religious person wanted her to reflect on her behavior over the last year, and write a letter to God and tell him why she deserved a bike for her birthday.
Little Maxine stomped up the steps to her room and sat down to write God a letter.
LETTER 1
Dear God:
I have been a very good girl this year and I would like a bike for my birthday. I want a red one.
Your friend, Maxine
Little Maxine knew this wasn't true. She had not been a very good girl this year, so she tore up the letter and started over.
LETTER 2
Dear God:
This is your friend Maxine. I have been a pretty good girl this year, and I would like a red bike for my birthday.
Thank you, Maxine
Little Maxine knew this wasn't true either. She tore up the letter and started again.
LETTER 3
Dear God:
I know I haven't been a good girl this year. I am very sorry. I will be a good girl if you just send me a red bike for my birthday.
Thank you, Maxine
Little Maxine knew even if it were true, this letter was not going to get her a bike. By now, she was very upset. She went downstairs and told her mother she wanted to go to church.
Her mother thought her plan had worked because Little Maxine looked very sad. 'Just be home in time for dinner,' her mother said.
Little Maxine walked down the street to the church and up to the altar. She looked around to see if anyone was there. She picked up a statue of the Virgin Mary, slipped it under her jacket, ran out of the church down the street into her house, and up to her room.
She shut the door, sat down and wrote this letter to God.
LETTER 4
I GOT YOUR MAMA. IF YOU WANT TO SEE HER AGAIN, SEND THE BIKE.
Signed, YOU KNOW WHO
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Of course, this fits very nicely with C.One's post re: balancing the positive and negative news, which is where humour comes in. Comedy is a great healer!
Curious. Oil producers are running out of space to store their stuff, and there is a worldwide glut. Yet gas prices in Kelowna -- about an hour ago -- said gas prices had risen to 94.9.
If a glut exists, the price per barrel is around US$40, GM is close to laying off 300,000 workers in Europe as no one is buying new cars anymore, why is the price of gas rising?
Either the big fat-cat oil execs. are making themselves filthy rich, or this entire planet has become a connspiracy theory! -- http://tinyurl.com/daqbu8
Charles,
ReplyDeletethe oils are doing it because they can. There is no one they have to be afraid of, and bottom lines do not care about reproaches. Heck, they haven't even bothered to produce the usual lame excuses, such as supply and demand, platform/refinery/pipeline interruption, heating season, travelling season, anticipated shortage or whatever else used to be said to add insult to injury.
At least this part of "capitalism" still works.
THOUGHT FOR THE DAY! (Courtesy wrh.com)
ReplyDelete"In the United States today, the Declaration of Independence hangs on schoolroom walls, but foreign policy follows Machiavelli." -- Howard Zinn, historian and author
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Here is one (possible) conspiracy theory which has a link to Canada and The Globe and Mail. Short, so check it out and especially the last para. -- http://tinyurl.com/bunrng
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Today's Obamatoons -- quite good. -- http://tinyurl.com/bha5xn
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If the UK food prices rise 9% and inflation is near zero per cent, is that indicative of stagflation? -- http://tinyurl.com/avunnd
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This may be one reason for the Bombay bombings recently -- Israel, the US and India set it up themselves, then conveniently blamed Pakistan, a predominantly Muslim country for it. -- http://tinyurl.com/dxta77
"Both Israel and India aspire to become unchallenged military powers of Middle East and South Asia respectively.
"Above all, they over ensure that no Muslim country can possess nuclear capability and be in a position to avert blackmailing and bullying tactics. In other words, both desire weak and subservient states doing their bidding. Nuclear capability with any country is a death knell for their megalomaniac aspirations and hence a binding necessity to prevent its acquisition."
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BTW. the govt. in Puerto Rico says it is broke. Does that mean we can go there for free holidays?!
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For those that thought GE was a strong, safe company to buy into, think again. -- http://tinyurl.com/ckwy4t
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Gives a different point of view from Garth's posts re: GD2. -- http://tinyurl.com/dnd9cs
Dee, you have a negative view of Canadian banks I take it. Why is that and which countries banking practices do you advocate?
ReplyDeleteNot the American ones Comrade.;) I like what Germany has done. 30% minimum down payment for home purchases which encourages household savings to be higher. I haven't seen or heard of German banks having to go to market to raise capital but I could be wrong. From what I've been reading they've learned from past mistakes.
ReplyDeleteI have a problem with the Canadian banks solely because of the amount of times they've had to go to market to raise capital. I don't know if it's for acquisitions or what but I believe it will effect the dividends eventually. LB is more of a local bank and from what I could see hasn't been paying too much attention to 'growth'. Given what's going on now, it's a good thing.
Canadian banks are in good shape relative to others but I don't believe in comparisons. We shouldn't feel or have to measure ourselves to others. We can look to them as a guideline and learn from their mistakes but not comfort ourselves that our neighbour is worse off than we are. We have to set our own guidelines. According to My guideline, very conservative and boring, I don't like what the banks are doing.
Another thing that's really been disturbing me is the call to open up the lending by some. Banks aren't going to lend unless it's for growth and my impression is they don't see that growth coming anytime soon.
http://business.timesonline.co.uk/tol/business/economics/article5851028.ece
Britain had deflation numbers in January according to one opinion writers in an online rag over there. Apparently the government posted positive numbers but they used January 08 instead of month to month.
Remember my asking whether governments banks were trying to create hyperinflation in order to offset deflation? Better minds than I could probably answer that question but printing money does run a risk of hyperinflation.
I'll post about China here. China is spending money but not here. They ordered a whole bunch of potash from Russia, too bad Soros, because they got it at a cheaper price. I also read that Vietnam and Russia are bartering rice for oil but can't seem to find the article. Very interesting.
Look what happened to the markets when China hinted at spending money. Bandwagon effect driving commodity prices higher. They were stung last year from what I've been reading. 1.3B people they have to worry about and there's a drought on top of that. They're still exporting goods but not too many electronics. Toy exports are still going on.
I like the boring stocks where the companys weren't focused so much on growth, they've lost in the markets but their balance sheets are still okay.
Charles? The oil tanker thing? Wasn't there something in the media that they were going to put a stop to that because the costs of leasing those tankers were outweighing any gains? I remember reading that a couple of weeks ago.
Said enough for today.
Sorry Comrade, one more thing about the banks?? They sell insurance.
ReplyDeleteI was wrong about German bailouts
http://news.bbc.co.uk/2/hi/business/7653868.stm
I still believe higher down payment on home purchases is a good idea even if that means slower growth in the housing sector.
Gee! Can't seem to get away from here. ;)
ReplyDeletehttp://www.ft.com/cms/s/0/351b77d6-097d-11de-add8-0000779fd2ac.html
Container shipping is down.
http://www.ipsnews.net/news.asp?idnews=45951
ReplyDeleteInteresting article.