Tuesday, December 08, 2009

Burton Schlichter Joins the CFRN Family / Emini Futures Trading - Tuesday December 8th, 2009


Click the headline above to listen to today's show and our first on-air chat with Burt.

Bill Provenzano of UpsideBreakout.com will become a part of our DAILY Broadcast beginning next Monday.

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It's Getting Interesting in Marxistville:
Competing Copenhagen Theories

Are rich countries taking over, or will poor countries reap rewards of redistribution?
By Bill Bonner

12/08/09 Johannesburg, South Africa – The Dow stayed in the same place yesterday. The correction in the gold market continued, with a $5 loss in the gold price.
The employment news on Friday was better than a poke in the eye with a stick. But how much better? Better enough to justify higher prices on Wall Street? Better enough to sell your gold because you believe that it will be clear sailing from here on out?
Uh…we wouldn’t advise it.
Maybe Main Street has been misled – again – by Wall Street and the feds. Spread around enough hot money and it begins to look like there’s a real recovery going on. Employers – as well as consumers – are duped. Business owners, for example, are likely to think that the recession is over and halt the layoffs.
More likely, Friday’s announcement that unemployment has bottomed out is bogus. A single swallow doesn’t make a spring. Nor does a single month’s worth of jobless numbers tell us much about the underlying trend.
Jobless rates…like other financial numbers…bounce around. One month is insignificant. We’ll have to wait to see what happens next, just like everyone else. But there are probably a million or so more job cuts to come before the bottom is finally reached.
Don’t blame businessmen for being confused. The press reports make it sound like it’s back to business-as-usual. And for the banking industry, it DOES seem as though nothing has changed. They’re lending to cockeyed private equity deals…aiding and abetting speculators in the carry trade…and handing out billions in bonuses. Just like old times.
They’re…Read more…

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