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Home“The Time for Action is Now”
Posted by Larry Doyle on March 25th, 2011 4:34 AM |
Having spent the better part of the last two weeks in Europe, I have gained an even greater perspective for the need to address our massive fiscal deficit here at home. While selected analysts would discount the global impact of the debt strapped peripheral nations of Europe, we do so at our peril. Why so? Have you looked at some of the European peripheral bond markets lately? (more…)
Sense on Cents Will Return
Posted by Larry Doyle on March 16th, 2011 12:46 PM |
I should have informed you that for a variety of reasons Sense on Cents will not have regular commentary again until March 24th.
The world remains filled with risks, many of them new and unsettling. From Japan to Bahrain to Libya to Europe and throughout the United States, our global economy has a host of issues. The most serious concerns clearly center on Japan. Let us all continue to hold all those directly and indirectly impacted by ongoing developments in Japan in our prayers.
I look forward to reconnecting with those who enjoy reading my work as much as I enjoy writing it.
See you in a week.
Larry Doyle
Pray for Japan: Must See Photos
Posted by Larry Doyle on March 11th, 2011 7:31 PM |
I do not know if there are words to properly describe the level of devastation embodied in these photos from Japan taken earlier today. I know that I do not possess the ability to appropriately describe what the Japanese people must be experiencing.
In the spirit of grace and kindness, I send my prayers and I would ask everybody to do the same. Pray for Japan and all those impacted by this natural disaster.
I thank the regular reader who shared these photos from the site, Boing Boing.
I hope anybody who views these will share them with friends, family, and colleagues so their prayers and assistance can be directed to Japan as well.
Larry Doyle
A whirlpool is seen near Oarai City, Ibaraki Prefecture, northeastern Japan, March 11, 2011. The biggest earthquake to hit Japan on record struck the northeast coast on Friday, triggering a 10-meter (33-foot) tsunami that swept away everything in its path, including houses, ships, cars and farm buildings on fire. (REUTERS/Kyodo )
Houses are swept by water following a tsunami and earthquake in Natori City. (REUTERS/KYODO)
A massive tsunami hits the coastal areas of Iwanuma, Miyagi Prefecture, northeastern Japan. (REUTERS/KYODO)
Sendai Airport is flooded after a tsunami following an earthquake in Sendai. (REUTERS/KYODO)
An oncoming tsunami strikes the coast in Natori City, Miyagi Prefecture, northeastern Japan March 11, 2011. (REUTERS/KYODO)
A massive tsunami sweeps in to engulf a residential area after a powerful earthquake in Natori.(REUTERS/KYODO)
People evacuate to a street following an earthquake in Sendai, northeastern Japan. (Reuters)
Boats are swept by a wave after a tsunami and earthquake in Asahikawa city. (Reuters)
Houses and buildings burn following earthquake in Iwate Prefecture. (Reuters)
Natural gas storage tanks burn at Cosmo oil refinery in Ichihara city. (Reuters)
Natural gas storage tanks burn at a facility in Chiba Prefecture, near Tokyo. (Reuters)
A massive tsunami hits the coastal areas of Iwanuma, Miyagi Prefecture, northeastern Japan. (Reuters)
An aerial view of a tsunami swamped Sendai Airport in northeastern Japan. (Reuters)
Houses swept by a tsunami smoulder near Sendai Airport in Japan. (Reuters)
Houses burn at night following an earthquake in Natori City, Miyagi Prefecture, northeastern Japan. (Reuters)
People stand on top of a building near cars and airplanes among debris swept by a tsunami at Sendai Airport. (Reuters)
People evacuate along train tracks following an earthquake in Tokyo. (Reuters)
Will March 11th Bring “Day of Rage” in Saudi Arabia?
Posted by Larry Doyle on March 10th, 2011 9:14 PM |
Tunisia, Egypt, Libya. What nation is next on the hit parade of social unrest in the Middle East? Could it be the oil exporting nation of Saudi Arabia? What would civil unrest in that nation mean to the price of oil and oil-related products worldwide? How high might the price of gas rise in our nation?
The uncertainty in our equity markets recently is clearly heavily influenced by the turmoil in Libya, but we should keep our eyes focused squarely on Saudi Arabia. Friday March 11th has been designated a “Day of Rage” in the nation where social protests are outlawed. What might happen? What is driving the unsettledness in Saudi Arabia? For a detailed backdrop on what is troubling the people of Saudi Arabia, let’s review a recent Bloomberg interview with Mai Yamani,……… (more…)
What’s Really Going on at the SEC?
Posted by Larry Doyle on March 10th, 2011 9:44 AM |
How do you view the local cops on the beat within your hometown? I recall fondly looking up to the ‘men in blue’ as a young boy in Boston. The general admiration and respect for our law enforcement back then certainly did not mean that there were not improprieties occurring. We should not be that naive. That said, the institution of law enforcement itself definitely commanded respect. Can we say the same for those enforcing financial regulations today? Regrettably the record over the last number of years shows significant shortcomings.
These shortcomings at the SEC were supposed to change under the leadership of Mary Schapiro. (more…)
Housing Barometer Makes New Low
Posted by Larry Doyle on March 8th, 2011 7:09 AM |
How do we measure what is really going on within the housing market? Regularly we see reams of housing data from new home sales, housing starts, building permits, and the Case-Shiller Housing Index. What are we to make of these various indicators?
Is there a common denominator that can be derived and utilized to measure what is truly going on within our housing market? Thanks to our friends at 12th Street Capital for bringing to our attention just such a vehicle. Let’s navigate, but bring your boots because where we’re going here does not look very pretty. (more…)
March Unemployment Report: Where’s the Dough?
Posted by Larry Doyle on March 6th, 2011 9:30 PM |
The Unemployment report released this past Friday would seem to have some good news for everybody:
1. The unemployment rate ticked lower to 8.9% and economists project it to head even lower.
2. Non-farm payrolls increased by 192k jobs with the private sector adding over 220k jobs while state and local employment lost approximately 30k jobs.
3. Last month’s report was revised to show even greater job growth.
All good and we can start thinking of March Madness on the college hoop circuit, right? Well, not so quick. What is the fly in the ointment? Despite the perceived improved job situation, the overall number of unemployed has barely budged off the bottom of the barrel. How does that work? The fact that so many of our fellow brethren whom have given up looking for work altogether remain out of the labor pool completely and thus are not counted in the unemployment rate. If they reenter the labor pool, the overall rate of unemployment could very quickly move higher. (more…)
Amerivet Wins Round in Amerivet v. FINRA
Posted by Larry Doyle on March 5th, 2011 10:01 AM |
Did the Wall Street regulator FINRA have funds from its own internal investment portfolio invested directly or indirectly in Bernie Madoff’s Ponzi scheme? Did FINRA effectively front run the auction-rate securities market in 2007 when it liquidated a position of approximately $647 million ARS from that same internal portfolio?
Do you think investors and all Americans would like to know the answers and details to these questions and much more? Do you think we deserve to know these answers? You think?
After developments this week, we are that much closer to learning answers to these questions and potentially much more about Wall Street’s regulator FINRA. How so? Let’s navigate.
The donnybrook legal battle continues between Amerivet Securities of Moreno Valley, California and the Wall Street self-regulatory organization FINRA. For those keeping score, the latest round this week was a decided victory for Amerivet. Why do I believe this specific case and the allegations made by Amerivet are so important? (more…)
My Thoughts on Wisconsin
Posted by Larry Doyle on March 4th, 2011 6:36 AM |
What is really going on in Wisconsin?
Are Wisconsin Governor Scott Walker and his Republican colleagues trying to ‘break the unions’?
Are the ‘Wisconsin 14’ senatorial contingent true patriots standing up for the rights of the working man?
Given the level of heated protest on the streets of Madison and on the airwaves throughout the nation, clearly people have strong opinions on both sides of this topic. What does it all mean? (more…)
Bill Gross: Who Will Ultimately Finance Uncle Sam and at What Rate?
Posted by Larry Doyle on March 3rd, 2011 6:47 AM |
If Ben Bernanke had never stepped into the markets via the Fed’s quantitative easing program, where would our level of interest rates currently be? What about equities, commodities, and our greenback? I think the following are easy assumptions to make:
1. Interest rates would be higher.
2. Credit spreads would be wider.
3. Equity markets would be lower.
4. Commodity prices would be lower.
5. The greenback theoretically would be higher, but I am less confident of this.
What will happen to our markets and our economy when Ben Bernanke ultimately does pull the punch bowl–that is quantitative easing–away from those utilizing the easy money provided by the Fed to prop our markets and our economy? (more…)
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