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HomeOil Regulation or ‘Sex, Drugs, and Football’
Posted by Larry Doyle on May 25th, 2010 2:34 PM |
The disaster unfolding in the Gulf of Mexico is enormous and will have an untold impact on our economy and environment. This tragedy could have been avoided. What a shame. There should be hell to pay by those charged with overseeing the oil industry.
Where were the regulators? A statement released just yesterday by the Department of Interior highlights evidence that the regulation of our oil industry in the Gulf has been quite incestuous. What’s a little incest without throwing in a healthy dose of sex, drugs, and football as well.
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Why I Do Not Trust Washington
Posted by Larry Doyle on May 25th, 2010 11:47 AM |
People can debate the relative strength of the economy all they want. I firmly believe that from a macro-level, our economy has years to go before it has a real chance to recover. Why years?
1. The banking system overall remains loaded with an excessive amount of delinquent loans. Uncle Sam will continue to siphon money from the American public and deliver it to the banks. In the process, these “earnings” will be utilized to write down the values of loans and securities it holds at inflated levels.
2. Credit will not truly flow until the health of banks, especially the smaller and community based banks, is substantially stronger. (more…)
IMF: “Spain’s Economy Needs Far-Reaching and Comprehensive Reforms”
Posted by Larry Doyle on May 25th, 2010 9:00 AM |
Global markets are down 2-3% overnight. What is going on?
From a military standpoint, all eyes are focused on the Korean Peninsula after North Korea’s admission of sinking a South Korean vessel in late March. How will the world respond? Will the U.S. issue some sort of warning shot across the North Korean bow? Will the international community, and especially those who treasure freedom, rally and aggressively denounce the North Korean’s aggression or will we witness what amounts to a ‘kumbaya’ session?
From an economic standpoint, all eyes are focused on the Euro-zone where fiscal pressures remain elevated. Today the focus is Spain. (more…)
Recommended ‘Sense on Cents’ Reading
Posted by Larry Doyle on May 23rd, 2010 9:20 AM |
In the midst of my weekend reading, two articles jumped out at me as providing a wealth of sense on cents:
Legendary Investor Is More Worried Than Ever
by Jason Zweig,
The Wall Street Journal, Intelligent Investor; May 22, 2010
‘100% Protected’ Isn’t as Safe as It Sounds
by Gretchen Morgenson
The New York Times; May 23, 2010
LD
No Quarter Radio’s Sense on Cents Welcomes Back Joe Saluzzi
Posted by Larry Doyle on May 22nd, 2010 10:00 AM |
UPDATE: This episode of NQR’s Sense on Cents with Larry Doyle has concluded. You can listen to a recording of the episode in its entirety by clicking the play button on the audio player provided below. Once the audio begins, you can advance or rewind to any portion of the episode by clicking at any point along the play bar.
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What really happened in the markets on Thursday May 6th? Can regulators truly address the underlying issues that caused the ‘flash crash’ or are our equity exchanges fundamentally and structurally broken?
How can you protect yourself in the face of such unbelievable volatility? Who benefits and who loses in the face of this volatility?
Will circuit breakers proposed by regulators work? Will we witness more days like May 6th?
If you have any interest in our markets and our economy, you will not want to miss my show this Sunday evening from 8-9pm ET as No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Back Joe Saluzzi. >>>> (more…)
If Andrew Cuomo Is Such a Tough Guy, Then…
Posted by Larry Doyle on May 21st, 2010 1:33 PM |
NY Attorney General Andrew Cuomo
The Wall Street Journal reports today that Andrew Cuomo will be exceptionally tough with legislators who do not play ball with him if and when he is governor of New York. How might Cuomo display his toughness? Cuomo’s Message: Dont Cross Me highlights:
As Democrats in Albany prepare to celebrate the kickoff of Andrew Cuomo’s campaign for governor next week, Mr. Cuomo is quietly putting out the word that if he’s elected lawmakers who resist his agenda will be punished. (more…)
“The SEC: Designed for Failure”
Posted by Larry Doyle on May 20th, 2010 4:08 PM |
Thank you to a loyal Sense on Cents reader for providing a recently released report by the U. S. House of Representatives Committee on Oversight and Government Reform entitled The SEC: Designed for Failure.
Much of what the American public has been fed about the SEC has been produced by the SEC itself. With all due respect to SEC Office of Inspector General David Kotz, who is widely respected, the other internal reports produced by the SEC have the stamp of career regulator Mary Schapiro. Regular readers of Sense on Cents know I have little regard for Mary.
This Congressional committee is led by Darrell Issa (R-CA). The report highlights that amongst the SEC’s issues, a lack of funding was not one of them. What else did the report find? What does it recommend?
Executive Summary (more…)
Charting the Dow
Posted by Larry Doyle on May 20th, 2010 2:44 PM |
While financial media and the financial industry tend to focus on the day to day, I believe we are far better served to look at the big picture and chart the major market averages over a longer time frame. To that end, what does a 3 year chart of the Dow tell us? Let’s navigate.
The Dow topped out at slightly over the 14000 level in the 4th quarter of 2007. We bottomed at approximately 6600 in March 2009. The Dow moved to a recent high of approximately 11,300 and is now trading at 10,200.
What do these numbers represent? (more…)
