Turns out, one of the nastiest, most pernicious bear rallies in stock market history is just a wuss without the boldly deranged leadership of Goldman Sachs, J.P. Morgan et al. So what problems do the banks have now that they didn’t have two weeks ago? Answer: Mainly, it’s a matter of perceptions. To help shape your own perceptions, here’s a link to a widely read Rolling Stone article by Matt Taibbi that should leave no doubt as to whether the banking system’s other shoe is yet to drop.
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Evidence of a conspiracy to suppress the price of gold sometime surfaces in ways that should give pause even to die-hard skeptics. Click here for Antal Fekete’s very interesting ruminations on “bad” gold supposedly on offer by the Bank of England, paper-shuffling to obscure the crime, and, get this now, the prospect of a global short-squeeze on physical.
Long-time subscribers may recall my occasional paeans to Howard Hill — the Mozart of fixed-income instruments, as far as I’m concerned. I used to quote Howard regularly on the site — until he took a 9-to-5 job with an investment firm that did not allow him to be quoted, at least not publically. As a result of massive layoffs in his sector, however, Howard has returned to café society and the salons of cyberworld as a blogger. I would encourage you to visit his site, Mind on Money, by clicking here, and to experience a dialogue that promises to be as high-minded and enlightening as any you will find on the Web. He really knows his stuff.
Here’s something to buck up all you libertarians: Michigan Rep. Mike Rogers’ opening statement on health care reform. It’s heartening to know that there are still a few men of conviction on Capitol Hill. Click here for the YouTube segment.
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Rick Ackerman is the editor of Rick’s Picks and a partner in 
Green Shoots, or Lurid Sensationalism?
by Rick Ackerman on October 22, 2009 12:01 am GMT · 8 comments
With Goldman shares mired in a cyclical dither, we expected Google to lead the market higher yesterday. And so it did, although the net effect was a merely weakly buoyant Dow Average that crashed in the final hour. With hubris alone driving stocks higher, it would seem there’s no substitute for the un-real thing. Which is to say, Goldman’s flashy, smoke-and-mirrors modus operandi will always look more impressive to traders than Google’s old-fashioned focus on advertising revenues. Google was up nearly $8 at one point, and nearly $32 since Friday, on perceptions that it is among the few companies in America with a hot » Read the full article