China Triples Size Of African Equity Fund To $3 Billion

China’s Africa development fund is set to triple in size to $3 billion, according to China Daily. The China-Africa Development Fund (CAD) targets investment projects on the African continent, including both industrial and infrastructure enterprises. Specifically, the fund has been involved in the creation of a glass factory in Ethiopia and a power plant in [...]

Gartman: Forget Talk Of ‘Limited’ European Money Printing, They’re Going To Go Full Throttle

Dennis Gartman sees the European Central Bank continuing with its quantitative easing measures in an effort to ease the pain on fringe states pushing austerity budgets. Right now, the ECB has suggested the QE programs will be limited and that it won’t hold onto European state sovereign debt forever. Gartman feels that, if the eurozone [...]

Gartman: Forget Talk Of ‘Limited’ European Money Printing, They’re Going To Go Full Throttle

Dennis Gartman sees the European Central Bank continuing with its quantitative easing measures in an effort to ease the pain on fringe states pushing austerity budgets. Right now, the ECB has suggested the QE programs will be limited and that it won’t hold onto European state sovereign debt forever. Gartman feels that, if the eurozone [...]

Goldman Sachs Timberwolf Deal Brought Down A Hedge Fund, Potentially Under Criminal Investigation (GS)

The Timberwolf deal, infamously tagged a “shitty deal” during the Goldman Sachs Senate hearings, is now at the center of a criminal investigation around the firm, according to the Huffington Post. Federal prosecutors are focusing on this deal, and its connections to the collapse of the Australian David Mapley’s hedge fund. Supposedly that deal cost [...]

Hussman: Here’s Why The Market Still Has A Long Way Down

Money manager John Hussman spoke with Bloomberg Television today about how he feels the market is overvalued and has a long way to go down. He was also keen to point out the problems of Europe, and that an orderly path for delinquent states, like Greece, to leave the eurozone needs to be established. Join [...]

Forex Uber-Volatility Datapoint Of The Day: Australia Vs. Japan

The Aussie dollar is up 4.44% over the Japanese yen in today’s trading, partly due to the to growing belief that the mining tax won’t have teeth in Australia, though mainly becaue everyone is having an optimistic day. And of course the move looks really dramatic against the yen, which folks always sell off when [...]

MAP OF THE DAY: Is Katla Ready To Erupt And Bring Europe To Its Knees Again?

A report from University College London is pointing towards a near term eruption of Iceland’s giant volcano, Katla, according to MSNBC.com (heard through Zero Hedge). The President of Iceland has also cautioned against an imminent eruption saying that Europe, its governments, and its airline industry needs to prepare. Katla happens to be one of the [...]

Here Is David Einhorn’s Full Presentation On How We, Not Our Grandchildren, Are The Ones Who Are Going To Pay For This Crisis

Hedge fund manager David Einhorn’s op-ed in the New York Times this morning details how the imminent crisis we’re about to experience will not be the burden of our granchildren, but us instead. Now we have the full presentation Einhorn made to the Ira Sohn conference to back up his beliefs. Big thanks to Market [...]

European Mining CDS Show Positivity Over Australian Tax

With doubts emerging as to whether or not Australia will follow through with its super-tax on mining profits, European mining companies are beginning to show signs of relief in their CDS. It is still unknown whether or not the mining tax will pass, but certain parts of the market seem to agree that even if [...]

10 Things You Need To Know This Morning (BP, SPY)

Good morning. Here’s what you need to know: Asian exchanges were up in overnight trading, and European indices have also started the day stronger, many making over 2% gains. U.S. futures are also showing signs of big morning gains.  Jobless claims and GDP numbers are released at 8:30 AM EST. UPDATE: GDP came in weaker [...]

Compared To Our Bailout, The Euro Bailout Is NOTHING

In what is the clearest expression of the size of the European debt problem right now, Birinyi Associates have put together a display of U.S. private sector bailout debt compared to the problems of Greece, Ireland, and Spain. Spain is the only serious problem of the three, and explains why its condition is of special [...]

MAP OF THE DAY: World Governments Say This Is Where The Terrorists Want To Strike Next

The World Cup in South Africa has emerged as the latest mega target for Al-Qaeda with Iraq making a series of arrests connected to an alleged plot to attack the tournament. Al-Qaeda had denied participation or involvement in a plot. The U.S. and Dutch governments are warning their citizens against travel to the country, noting [...]

Marc Faber: “The Banks Are Gone”

Marc Faber spoke with Bloomberg Television about his bearish views on markets yesterday, and they remain as bearish as always. “The banks are gone,” according to Marc Faber, and are only being kept alive by European Central Bank and government aid programs. Faber, though, feels in the near term that things are oversold, and that [...]

Nightmare! What The UK’s New Austerity Budget Would Look Like In The U.S.

The UK has announced its public spending cuts for the year 2010, and they take aim at a bloated budget and rising deficit. The cuts target a broad range of government activities, including child services and ministerial benefits. We’ve taken those cuts and applied them to the U.S. government budget in a nightmare scenario of [...]

Robert Shiller: BP Oil Spill Could Hammer Consumer Confidence

Robert Shiller spoke with Bloomberg Television reporter Margaret Brennan about the new Case-Shiller index numbers, but also the impact of the BP oil leak on consumer sentiment. 0:33 This is a time of extraordinary uncertainty about home prices, particularly because stimulus measures are being withdrawn 1:25 The government’s measures brought sales forward, and its going [...]

Here’s Why The Crisis In Spain’s Banks Might Not Spread To The Giants Santander And BBVA

Spain’s current banking crisis is unlikely to spread to Santander and BBVA because those banks are well diversified, according to Arturo de Frias of Evolution Securities. In speaking to CNBC, de Frias revealed how the likely impact of this Spanish bank crisis will be positive. 0:10 Spanish problem is serious and it will need to [...]

10 Things You Need To Know Before The Opening Bell (AIG, BP, SPY)

Good morning. Here’s what you need to know: Asian markets fell significantly overnight due to increasing geopolitical fears associated with the Korean Peninsula. European markets are also down hard in early trading on similar news, as well as concerns over the Spanish banking system. U.S. futures are down ahead of today’s trading day. Case-Shiller housing [...]

This Market May Look Boring But Check Out The Chaos In Financials (MS, GS, C, BAC)

Today’s market may seem boring, with minor moves in the major indices, but financials have being moving largely downward, and to a significant degree. The big name big loser, Morgan Stanley down 4.28%. Don’t miss: the 8 hedge fund managers getting killed on financial stocks > From FinViz: Join the conversation about this story »

Things Moving Quickly, As Spanish Government Forces Four Banks To Merge To Prop Up System

The Spanish government has just moved to support its banking system again, forcing four major banks to combine in a bid to save their existence. The move targets Cajastur, Caja de Ahorros del Mediterráneo, Caja Extremadura, and Caja Cantabria, according to Cotizalia. It comes just hours after Spain’s €530 million bailout of CajaSur. The merger [...]

MAP OF THE DAY: Here’s Where Brazil Just Got Hit By A 6.5 Magnitude Earthquake

Brazil just got rocked by a 6.5 magnitude earthquake in the northwest portion of the country. In contrast, the highly destructive Chilean earthquake of February had a magnitude of 8.8. The earthquake hit the state of Acre, which is 1687 miles from the country’s capital of Brasilia. Acre produced only 0.2% of the Brazilian economy [...]

CajaSur Bailout Rattles Spanish Markets But The Rest Of Europe Doesn’t Care

European markets were mixed in today’s trading, but Spain’s IBEX was noticeably lower, off around 1.3%, on concerns over the country’s bailout of regional lender CajaSur. UK FTSE, flat. German DAX, down .5%. French CAC, flat. IBEX, down around 1.3%: See why Spain’s problems are just beginning here > Join the conversation about this story [...]

Here’s Why €530 Million Is Just The Beginning Of The Spanish Banking Bailout

Spain’s bailout of regional bank CajaSur could get much worse as the company has much more bad debt on its books than €530 million. According to Expansion.com, the amount of bad debt on the books of CajaSur, that being debts which are unlikely to be paid back to the bank, could eventually rise to €2.7 [...]

The Spanish Economy Is About To Get Gored And Here Are The Charts That Show You Why

Spain’s bailout of regional bank CajaSur has brought the threat of Spanish sovereign debt back on the agenda. The country has had to provide assistance for the regional bank at a cost of €500 million, and this is just the beginning of what could be a series of banking bailouts in Spain. Spain is already [...]

UK Moves Could Cripple Progress To Save The Euro

UK Prime Minister David Cameron has come out publicly against German Chancellor Angela Merkel’s moves to expand the European Union’s power and federalize control of member states balance sheets, according to The Guardian. The move puts political progress to protect the euro in serious doubt, because it could initiate a new two track European Union. [...]

The Greecing Of America, Simplified

The United States is destined to become the next Greece, unless we act fast to cut government spending, according to a video released by Bankruptingamerica.org. It is a little limited in its criticism, refusing to acknowledge the realities of what superior growth potential can mean for paying down government debt, but is still a catchy [...]

Europe Rallies Back, But Germany Is Down As Country Falls On Its Sword

The German sacrifice of voting yes to provide support for the eurozone bailout has buoyed European indices. Germany’s DAX, showing signs of sacrifice, down around .8% UK’s FTSE, flat France’s CAC, roughly flat Italy’s MIB, up 1.32% Spain IBEX, up 1.48% Portugal’s PSI, up .67% Join the conversation about this story »

Here Is The Only Real Solution To The Oil Leak Crisis (BP, RIG)

The oil leak in the Gulf of Mexico continues, unabated, as you can see live here on Sen. Bill Nelson’s website. The only real solution to the Deepwater Horizon oil leak is to install 2 new relief platforms in the Gulf, offering a means to relieve the pressure and for the oil to escape. This [...]

BlackRock’s Bob Doll: This Correction Is At An End

BlackRock’s Vice Chairman Bob Doll spoke with Betty Liu of Bloomberg Television this morning on where the market was heading. Doll thinks this correction is over, but that we may move sideways for a while. 0:20 After the correction, we will see a bull market rally, so long as things stabilize, particularly in Europe 1:00 [...]

Ferguson: Debt Has Taken Down Empires Before, There Is No Reason Why It Won’t Happen Again

Niall Ferguson’s speech to the Peterson Institute for International Economics examined the roots of sovereign debt crises, and how they have plagued states since the birth of the bond market. Ferguson also made clear, that such crises have brought down some of the world’s biggest empires, and there is no reason why it won’t happen [...]

The 10 German Banks That Angela Merkel Thinks Need Special Protection From Speculators

Germany announced a ban on naked short selling today, that takes effect at 12 AM Berlin time. Chancellor Angela Merkel has come under criticism for the decision, which is now set to hamper those who seek to speculate on German and European markets. There are 10 German financial firms named in the ban, and we [...]

Does This Woman Have Any Idea What She’s Doing?

German Chancellor Angela Merkel has gone on a populist attack against speculators by proposing a ban on naked short selling and CDS trading on a select set of securities. That ban would impact European government bonds and 10 select German financial institutions within the eurozone. The ban is being proposed by Finance Minister Wolfgang Schaeuble. [...]

Does This Woman Have Any Idea What She’s Doing?

German Chancellor Angela Merkel has gone on a populist attack against speculators by proposing a ban on naked short selling and CDS trading on a select set of securities. That ban would impact European government bonds and 10 select German financial institutions within the eurozone. The ban is being proposed by Finance Minister Wolfgang Schaeuble. [...]

Roubini: Austerity Measures Won’t Go Through, And Markets Will Be Punished

Nouriel Roubini was on Bloomberg TV today discussing the sovereign debt situation in Europe and around the world. He remains unconvinced by the European bailout package and the likelihood governments will be able to combat the crisis. 0:30 The problem of a the eurozone crisis has been contained by the bailout, but they must make [...]

Roubini: Austerity Measures Won’t Go Through, And Markets Will Be Punished

Nouriel Roubini was on Bloomberg TV today discussing the sovereign debt situation in Europe and around the world. He remains unconvinced by the European bailout package and the likelihood governments will be able to combat the crisis. 0:30 The problem of a the eurozone crisis has been contained by the bailout, but they must make [...]

10 Things You Need To Know Before The Opening Bell (HD, LOW, GOOG, SPY, GLD)

Good morning. Here’s what you need to know: Asian markets are up in overnight trading, and European indices are continuing to surge. The euro remains low, and gold prices have fallen off slightly. The ECB announced the current extent of their bond buying program, which currently stands at €16.5 billion ($21 billion) in purchases. This [...]

MAP OF THE DAY: Watch Out Florida, Here Comes The Oil

The oil leak growing off the coast of Louisiana could be set to make landfall soon, and may be destined to hit another coast line soon thereafter. Worries are growing that after failed attempts to stem the flow of oil from the leak, it may grow and flow along the current towards the coast of [...]

THE RADAR: 10 Brewing Stories You Need To Watch Right Now

Right now, uncertainty is stretching over markets worldwide as micro issues, like the BP oil spill, and massive one’s, like the collapse of the euro, rattle traders minds. We’ve got the most important stories, both long and short term, you need to watch here, with details of where they are and where they might head [...]

Why The Coming Election Could Bring The PERMANENT End Of The UK Labour Party

Gordon Brown’s gaffe today in calling an old woman a bigot for her opinions on Eastern Europeans belies bigger problems for a party now faced with becoming obsolete. The rise of the Liberal Democrats, through leader Nick Clegg’s masterful performances in the country’s first televised debates, is putting pressure on a Labour Party which has [...]

Yes, Spain Is A HUGE Domino

Spain was downgraded today, and now concerns over a minor Greek crisis are growing into the threat of a massive Spanish meltdown. Spain would not be a minor blip on the world’s economic radar. Spanish banks have received a tremendous amount of financing from the European Central Bank (ECB). From EconomicResources: And Spanish banks also [...]

Police Raid Deutsche Bank And 50 Other Banks In Germany

Bild.de has broke the news of German police raids of Deutsche Bank and fifty other financial firms over tax-evasion charges. The investigation involves 150 people suspected of evading VAT charges due in carbon trading schemes. The taxes avoided add up to €1 billion, according to Bild. Bild explains the tax scheme as this: Dealers in [...]

The Greek “Bailout” Is Ballooning To €135 Billion And Germany Is Not Pleased

The IMF and EU are currently negotiating the full bailout package for Greece, which actually means Germany and the IMF are discussing how much Germany is going to have to shell out to cover the Greek debt mess. Some facts from Der Spiegel: Germany had planned to fund €8.4 billion a year to Greece for [...]

Here’s Everything You Need To Know About The Rapidly Approaching Crisis In Spain

Spain just got downgraded by S&P.  Given that S&P is usually the last to know, it looks like things are only going to get worse for the eurozone giant. While Spain might seem like another Greece or Portugal, its something far different–and worse. The country is a way more important part of the eurozone economy, [...]

Here’s The Presentation Spain Is Using To Convince The World It Can Borrow Money

While Greece and Portugal may be dominating debt crisis headlines at the moment, Spain is the lingering country that could be “too big to bail.” Spain’s economic problems are somewhat similar to Greece and Portugal, in that the country has had extremely low growth since the financial crisis erupted, do to a slowdown in its [...]

Portuguese Bank CDS Go Vertical

Portugal’s banks are starting to buckle under the pressure of their state’s fiscal crisis, as Greece’s debt problems spread across the continent. It may have a smaller deficit, and it may have taken austerity measures, but Portugal’s banks are still feeling the pressure of their sovereign’s problems, and the value of CDS is starting to [...]

10 Things You Need To Know This Morning (RDSA, HMC)

Here’s what you need to know this morning: Greece remains the center of attention this morning, with the country’s sovereign CDS indicating increasing uncertainty over the EU-IMF bailout and its long term position as a euro zone member. Greece’s CDS is now the most expensive in the world, at 945 bps. The Greek crisis is [...]

10 Things You Need To Know This Morning (RDSA, HMC)

Here’s what you need to know this morning: Greece remains the center of attention this morning, with the country’s sovereign CDS indicating increasing uncertainty over the EU-IMF bailout and its long term position as a euro zone member. Greece’s CDS is now the most expensive in the world, at 945 bps. The Greek crisis is [...]

MAP OF THE DAY: There’s A LOT At Stake If The PIIGS Collapse

Its now clear that the European debt crisis could take a huge chunk of the euro zone with it. Greece, Portugal, and Ireland are already in tough debt positions, while larger states like Spain and Italy might soon be. What this could mean is the end of the currency union, as states are forced to [...]

Map Of The Day: Think Asia Is Going To Save Us? Think Again

While the world focuses on the debt crisis in Greece and the looming problems throughout the euro zone, serious debt concerns exist in Asia as well. Asia has real problems looming in Japan and potentially India and Pakistan, if growth levels do not return to pre-recession levels. And while China may seem to have low [...]

BlackRock: Correction May Happen, But It Is Not Going To Matter Much

BlackRock Vice Chairman Bob Doll was on CNBC this morning talking about the power of this recovery. While he sees a correction coming, he doesn’t think its going to hit markets too hard, with the way fundamentals look right now. 0:20 We are due for some sort of correction, but with numbers looking good, we [...]

It’s Not A Sucker’s Rally Anymore — It’s A “Rodney Dangerfield Rally”!

Six months ago, everyone said this was a “sucker’s rally”–and cackled at anyone stupid enough to buy into it. But it’s not a sucker’s rally anymore! Now, CNBC is calling the current market rally the “Rodney Dangerfield Rally,” because no one is respecting its legitimacy and everyone is looking for a way out. Like Rodney, [...]

Rogers: Europe Should Just Let Greece Go Bankrupt

Jim Rogers spoke on CNBC this morning about how he sees Europe bailing out Greece as a huge mistake that will bring further problems in the future. 0:40 They need to let Greece go bankrupt, it would clean up the system 3:10 Far more downside to come in the news 3:40 Can’t solve a problem [...]

It’s Not Just European GOVERNMENTS That Have Massive Pension Problems–Companies Are Getting Hammered, Too

Right now, talk of a European debt crisis is centering on the potential of Greek default.  Investors are also worried about whether IMF-EU assistance will be enough to save the struggling nation, and whether the crisis will spread to the rest of the PIIGS. But debt isn’t just a problem for European governments.  The private [...]

10 Things You Need To Know This Morning (GS, UAUA, CAL)

Here’s what you need to know this morning: The on-again, off-again Greek bailout is very much on again this morning as the country’s prime minister has gone to the IMF asking for assistance. Greek bonds have surged this morning, as the specter of default diminishes. Goldman Sachs director Rajat Gupta has come under further pressure [...]

Closing Bell: Here’s What You Need To Know About What happened Today (MSFT, AMZN, GS, XHB)

Healthcare having a hard day, but everything else is roughly flat. U.S. Markets: DJIA: Up 9.37, or 0.08%, to 11134.29 NASDAQ: Up 14.46, or 0.58%, to 2519.07 S&P 500: Up 2.74, or 0.23%, to 1208.67 Commodities: Oil: Up 0.06, or 0.07%, to 83.74. Gold: Down 4.50, or 0.39%, to 1142.50. Silver: Down 0.09, or 0.53%, [...]

Get Ready To Watch The Pound Scream: It’s Time For UK Debate Number 2

The party leader debate is about to start in the UK, live at 3pm EST on C-Span 3. Liberal Democrat leader Nick Clegg is set to defend his recent poll surge, and Conservative leader David Cameron will try to continue his poll fightback some of last week’s losses. The topic for the debate is foreign [...]

If You Can’t Understand Why Germany Won’t Bail Out Greece, See This Headline

German daily tabloid Bild is ratcheting up fears of a €18 billion ($24 billion) pricetag for the German part of the Greek bailout. The threat of default continues to loom. This is why bailing out Greece is untenable for German politicians. Bild is one of the most popular newspapers in Europe. Also, note the amusing [...]

Map Of The Day: Europe Overwhelmed In A Sea Of Sovereign Debt Hogs

Europe is at the center of a debt storm, and the PIIGS on the periphery are more than just those made famous by the acronym. It seems the UK and France are also eating at the trough, with a few tiny specs of fiscal stability scattered round the continent. From Worldmapping: Join the conversation about [...]

Market Update: Stocks Down On Regulation And Greece Default Worries (SBUX, SNDK, XHB, NOK, BAX, XBI)

President Barack Obama just gave a speech on financial regulation, and the markets continue to adjust to what they heard. The tyranny of Greece still reigns on markets, as the country’s debt yields continue to spiral out of control after the Moody’s downgrade. DOW: Down 75 points, or 0.68% S&P 500: Down 8.84 points, or [...]

A Play-By-Play Guide To America’s Coming Deflationary Debacle

The Japanese scenario haunts the U.S. economy. The idea that all the government spending the U.S. has used to bring the country back from recession may not prevent the economy from crumbling under the weight of its own debts lives in markets today. There have been signs that the U.S. may differ from Japan’s balance [...]

The Complete Guide To The Banks And Countries That Will Get Slammed When Greece Collapses

Greece has just been downgraded by Moody’s, and the country’s bond spreads are going completely nuts. Some kind of default or restructuring seems completely inevitable now, despite promises of support. Thus it’s more important than ever to revisit the various counterparties who will get slammed in a collapse. French banks represent over 25% of claims [...]

Is This The Next Volcano To Put A Halt To European Trade?

Europe is just starting to return to normal since the ash cloud from Eyjafjallajökull’s eruption abated. But there is the threat of an even more catastrophic eruption looming in Iceland. Katla has often erupted immediately after Eyjafjallajökull, in 926, 1621, and 1821. Eyjafjallajökull has also erupted on its own 22 times in the same time [...]

Map Of The Day: In Case You Had Any Doubt Where The World’s Growth Was Coming From

The IMF has released their report on the world economy, and while the recovery is robust worldwide, you can tell quite easily that this is all about emerging markets growth. Now check out the details of the world recovery > Join the conversation about this story »

Sound Smart Talking About The Global Recovery In 60 Seconds

The IMF has released its World Economic Outlook report, and it highlights the heights the world economy has returned to since the financial crisis. The improvements can be seen around the world, but are particularly obvious in the emerging markets of Asia. But Europe and the United States aren’t completely left out of the story, [...]

Saudi Arabia Announces Nuclear Plant, And It Could Have Huge Consequences For U.S.-Iran Relations

The government of Saudi Arabia has announced a new section of its capital Riyadh is set to be powered solely by nuclear energy. This will be the first nuclear power plant in the Gulf states, and the first in the broader Middle East. If the U.S. government backs Saudi Arabia’s bid to build a reactor, [...]

Mayor Of London Warns: The Ash Flight Ban Could Be INDEFINITE And We Need To Prepare For It

The Mayor of London Boris Johnson raised the specter of an “indefinite” flight ban for the UK’s capital today as he warned the country to prepare for the worst. Johnson said that the UK needs to start thinking realistically about the longer term implications of a ban on air travel, as the risks of flight [...]

CNBC Celebrates 4/20 With All Day Marijuana-Thon

CNBC is celebrating 4/20 with an all day conversation about Marijuana. Everyone from Larry Kudlow to Erin Burnett has mentioned the herb live today, but no one is mentioning the links to today’s global celebration of the drug. Tonight the network is re-showing its Marijuana and Money, which highlights the size of the business in [...]

Morgenson: The SEC Is Definitely Looking At Other Firms And Is Going To Act

Gretchen Morgenson of the New York Times spoke with Bloomberg Television about the Goldman Sachs SEC charges. She had quite a bit to say about where the story is headed next and what it is going to take to take down Goldman. 0:40 The SEC is definitely looking at other firms, and they’re going to [...]

10 Dormant Volcanoes That Could Blow And Cost The Economy Billions

Willis Research Network has put together a list of the European and Caribbean volcanoes that could erupt with spectacular results. Those results wouldn’t be limited to ash and fire, like the current Eyjafjallajökull eruption mostly is, but would hit population centers as well. Not just people would be under threat from the flow of lava [...]

Meet Nick Clegg, The Man Who Holds Britain And The Pound In The Palm Of His Hands

Nick Clegg is changing the equation of UK politics, and making the threat of a hung parliament even more real. The Liberal Democrat leader, whose party hasn’t mattered in UK politics since the end of the First World War, stood out in this week’s first ever party leaders debate. The country woke up to his [...]

Eyjafjallajökull Ash Cloud Could Cripple UK Food Imports Within Days

The ash of Eyjafjallajökull could have a severe impact on UK food imports, with foreign fruit and vegetables like pineapple and baby sweet corn already seeing shortages, according to The Guardian. Other produce under threat includes lettuce, grapes, and asparagus. Flights in and out of the UK continue to be halted. British Airways maintains that [...]

Buffet Loses $950 Million In One Day On Goldman SEC Charges (GS)

Warren Buffet lost $950 million in Goldman Sachs (GSI) options today as the bank’s stock tanked as a result of the SEC filing fraud charges against the firm, according to Bloomberg. Buffet’s Goldman Sachs options started the day valued at $3.01 billion, and are now floating somewhere around $2.06 billion. Its unlikely Mr. Buffet will [...]

UBS’ Excellent Presentation: This Recession May Be Over But We’re Not Out Of This Bubble Yet

The world economy might have broken free from its shackles of negative growth, but its yet to escape the bubble that got it there, according to a presentation from UBS’ Thomas Zimmerman. While consumers might yet again be spending cash, many of the core problems that were at the root of the credit crisis still [...]

Bank of America Nailed Earnings Partly Because It Cut Its Loan Loss Reserves (BAC)

Anthony Polini of Raymond James was on CNBC this morning and chalked up Bank of America’s earnings to positive moves in the broader economy and active management. 1:00 The economy is good, but Bank of America is managing itself well, and took a lot out of its loan loss reserves (JP Morgan and Bank of [...]

Ryanair Cancels All Of Its UK And Northern European Flights Till 1PM Monday

Ireland based airline Ryanair has called off all its flights in the UK, Ireland, and Northern Europe until 1PM Monday, according to Sky Breaking News. The airline is from what we know the first to cancel all flights through the weekend. Check out our other coverage of the Iceland volcano crisis here > Join the [...]

10 Things You Need To Know Before Opening Bell (GE, BAC)

Here’s what you need to know this morning: GE reported earnings this morning and they’re down 18% year-over-year, according to WSJ.com. Profits beat estimates, but sales came in somewhat lower than expected. Bank of America has beat first quarter earning estimates, reporting profits of $0.28 a share. Street projections had the firm at $0.10 a [...]

Here’s How To Watch The Crucial UK Debate Live

The UK debate is being shown live, via Justin TV:   Watch live video from Election uktv 2010 on Justin.tv Join the conversation about this story »

Eric Sprott: We’re Very Concerned About China, And We’re “All In” On Precious Metals

Eric Sprott of Sprott Asset Management was just on CNBC talking about how he doesn’t trust the current economic environment, and how he’s long precious metals. 0:10 I haven’t bought into this equity rally, and I have serious concerns about the banking industry’s debts 0:50 Very concerned about China and the potential cooling in lending [...]

Here’s The Real Impact Of The Volcano Ash Crisis In Europe

We’ve already told you about the trail of volcanic ash halting flights across Europe, but the impact is going to be felt in more ways than flight cancellations. The impact of this eruption is not going to just be felt today. The volcanic ash could linger in the atmosphere for 6 months causing disruptions to [...]

10 Things You Need To Know This Morning

Here is what you need to know this morning: China grew 11.9% in Q1 2010, ramping up speculation that the country will try to temper that growth by revaluing the yuan against its dollar peg. This is China’s highest growth rate in three years. GDP numbers point to Singapore as the great success story, with [...]

Morgan Stanley Presents A Complete Guide On How To Play And Make Money on The UK Election

UK elections are now firmly in the forefront, as Parliament has been dissolved and elections called for May 6th. Polls are extremely close, with a recent result showing a mere 3 point lead for the Conservatives. The Labour and Conservative parties have recently released their manifestos, detailing the policy approaches both parties have going into [...]

Morgan Stanley: Here Are The Big Winners In A Yuan Revaluation

Morgan Stanley is 80% certain that the yuan revaluation is going to happen. In the short term, the currency is destined for a 2-3% appreciation against the dollar. After that, Morgan Stanley also predicts a further gradual appreciation throughout the rest of 2010, which will result is a year net appreciation of 4-5% against the [...]

It’s Official: Our Defense System Is WAY Too Dependent On China For Resources

The Government Accounting Office (GAO) has put out a report detailing just how reliant the U.S. military is on foreign sources of rare earth metals. Most shocking: our reliance on China for those imports. China dominates the market for rare earth mineral production and, while not necessarily the top source of those elements, dominates the [...]

What The…. ! Abercrombie Paying Its CEO $4 Million Not To Fly His Private Jet (ANF)

Abercrombie and Fitch is actually paying its CEO $4 million in a lump sum to not fly in the company’s private jet, according to the Wall Street Journal. The company, known for its youth clothing and racy catalogs, is paying its CEO to limit his personal use of the private jet after racking up bills [...]

Map Of The Day: Are You Sitting On Top Of A Ton Of Spent Nuclear Fuel?

President Obama’s nuclear summit has unearthed some unknown truths about the world’s uranium trade. Georgia has stopped the sale of weapons grade uranium 8 times in the last 10 year, including once this past March. Anywhere where there are nuclear power plants and weapons facilities, there is spent fuel and materials that could be used [...]

Goldman’s Jan Hatzius: Serious Threats To The Strength Of The Recovery Are Looming

Jan Hatzius, Goldman Sachs’s chief U.S. economist, sees the second half of 2010 posing more threats to the recovery than the first, with the withdrawal of stimulus and changes in the inventory cycle set to be a drag on the economy. He says its going to take a major shock to rock the recovery completely, [...]

Blackstone’s Awesome Presentation On The 10 Big Surprises For 2010

Byron Wien, senior managing director of Blackstone, has released his yearly list of surprises to be ready for. While we’ve written about those 10 things before, we have a whole new look at his rationale by getting a hold of the entire presentation. It includes an extensive outlook by one of the world’s leading asset [...]

Siegel And Shiller Spar Over The Huge Double Dip Question

Prof. Jeremy Siegel and Prof. Robert Shiller both spoke on CNBC today on whether or not we were headed for a double dip recession. Siegel doesn’t see a chance of one, while Shiller is worried about global confidence levels cracking and crushing the recovery. 0:20 Siegel: There is no chance of a double dip recession [...]

Everyone Agrees, The VAT will Be Disastrous To The US Economy

Professors Martin Field and Robert Reich were on CNBC with Larry Kudlow today discussing how the VAT, or value added tax, would be a bad solution to America’s deficit problems. They also brought up some other interesting solutions to solving America’s debt crisis. 0:13 Prof. Feldstein: Feels we still don’t have enough data to know [...]

Hussman: This Rally Has Ignored Fundamentals, And Will Be Corrected Painfully

The market rebound we’ve experienced is near an end, and we should have seen it coming, according to John Hussman of Hussman Funds. Here’s a breakdown of why Hussman thinks that, even if you ignore questions about the banking system, this market is clearly in line for a correction. Investors have gone through two massive [...]

After Caving On Greece, Angela Merkel Just Ruined Herself

Chancellor Angela Merkel has gone from the hero of Germany’s fiscal conservatives to one of their biggest offenders as the once stubborn leader has been forced into a pricey Greek bailout. Germany is now on the line for as much of 8.4 billion euros ($11.4 billion) in the Greek bailout, according to Der Spiegel. That’s [...]

Eric Jackson: Face It, China Is The New America

Eric Jackson, President of Ironfire Capital, spoke to CNBC about the China he sees, one booming, but bound for a soft correction. 0:50 What’s going on in China is like what happened to America during and after New Deal 1:30 If China has a correction, it will be soft, rather than hard 2:20 China’s government [...]

Mid-Day Update: Here’s What’s Happened So Far (JAV, DCP, ABK, ENTN, ERI, QLTY)

Exchanges: DJIA up 17 points or 0.16% to 11,014 NASDAQ up 3 points or 0.14% to 2457 S&P 500 up 2 points or 0.22% to 1197 Today’s Big Winners Thus Far: Javelin (JAV), up 61.9% DynCorp (DCP), up 48.84% Ambac Financial Group (ABK), up 46.36% Today’s Big Losers Thus Far: Entorian Technologies Inc (ENTN), down [...]

Map Of The Day: Awesome Visualization Of Global Debt Levels

As government debt levels surge worldwide a sea of red balance sheets have begun to engulf the world. This map from the SASI Research Group and Worldmapper points out just how bad the problem is, particularly in Europe and Japan. Via Financial Armageddon: Join the conversation about this story »

Stiglitz: U.S. Monetary Policy Is Creating “Bubbles All Over The World”

Professor Joseph Stiglitz was on Bloomberg Television today talking about the situation in Europe, the crisis of German decision-making on Greece, and the potential for global bubble development. 0:20 Crazy markets are driving the Greece scare 1:22 If Europe continues to hold out and markets continue to act crazy, Greece will have to go to [...]

Map Of The Day: You May Be Sitting On One Of The Largest Shale Gas Deposits In The World

On his blog, T. Boone Pickens pointed out just how much shale gas the U.S. has within its mainland. Boone is calling the U.S. “the Saudi Arabia of natural gas.” Check out the fortune you may be sitting on. The yellow splotchers are where the “gold” lies. Join the conversation about this story »

Art Cashin: Market Conspiracies Point To Secret Fed and ECB Actions

Art Cashin of UBS spoke on CNBC late yesterday about what he, and many traders on the floor, are thinking about treasury auctions and actions in the euro. Conspiracies abound. 0:15 Easing of the currency pressure turned markets around on Thursday 0:30 Some think that the Fed is coming in as a buyer for 30-year [...]

Soros Warns Of A “Negative Of A Bubble” In Greece

George Soros spoke to Bloomberg Television this morning about the crisis facing the euro zone over Greece. He believes Greece going to the market to sell its debt, in the long run, will create a “negative of a bubble” in the country. We believe he even mumbled “reverse bubble” in the interview. 0:18 Greece should [...]

Forget Gold, Here Are The Commodities That Could Have Made You A Killing This Year

Here’s some quick perspective on the commodities market thus far in 2010. The outlook for many economically-driven commodities has brightened as global growth continues. Prices have gone on a tear. Yet gold, which isn’t driven by any significant source of economic use, has been left in the dust by them. It’s up only 5.4% on [...]

10 Things You Need To Know This Morning

Here’s what you need to know this morning: Greece’s position continues to deteriorate as markets continue to pummel the country’s sovereign debt yields. The yield on the country’s 2-year bonds has come close to 8%, suggesting confidence in the country’s ability to refinance its debts is deteriorating. Its not just Greece experiencing sovereign debt concerns, [...]

ABN Amro: This Will Not Be A Jobless Recovery

Edith Thouin of ABN Amro doesn’t think this is going to be a jobless recovery, but it is going to benefit some industries over others. 0:30 There is a pickup in job growth in the U.S. and Europe, and the services and care sectors are benefiting 1:00 Emerging markets are demanding goods from the West, [...]