March 12th, 2010
Published Daily
COMMENTARY for Friday

Economy Red-Hot — If You’re a Bank

by Rick Ackerman on October 30, 2009 1:28 am GMT · 11 comments

The Guvvamint plastered a 3.5 percent GDP growth rate on the marquee yesterday, and traders acted as though the information had come from Walter Cronkite himself. We always expect the stock market to wet its pants when these dog-and-pony shows turn up the wow factor with “Sabre Dance” and a laser show. But did the bond markets have to go nuts as well?  We would have thought they had better sense. It’s one thing for whacky » Read the full article


TODAY'S ACTION for Friday

A Gutless Dollar Rally So Far

by Rick Ackerman on October 30, 2009 3:30 am GMT · 0 comments

Lots of charts to go with today’s touts, but the one I want you to look at most closely is the DXY chart, since it would seem to contradict a growing, bullish consensus among forecasters, including a few I greatly respect. I’ll leave it to Harry to steer the discussion in the chat room, since he is the expert’s expert when it comes to the “burning up” of prior peaks.


Rick's Picks for Friday
$ = Actionable Advice + = Open Position
Current  Actionable  Open
All Picks By Issue:

GS – Goldman Sachs (Last:178.47)

by Rick Ackerman on October 30, 2009 1:46 am GMT

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AKAM – Akamai Technologies (Last:22.45)

by Rick Ackerman on October 30, 2009 2:02 am GMT

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ESZ09 – E-Mini S&P (Last:1061)

by Rick Ackerman on October 30, 2009 2:20 am GMT

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GCZ09 – Comex December Gold (Last:1045.40)

by Rick Ackerman on October 30, 2009 2:40 am GMT

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DXY – NYBOT Dollar Index (Last:75.96)

by Rick Ackerman on October 30, 2009 3:08 am GMT

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This Just In... for Friday

Why are we in Afghanistan?

by Rick Ackerman on October 30, 2009 12:01 am GMT · 0 comments

The resignation of Matthew Hoh, a key U.S. official  in Afghanistan, is a body blow to U.S. foreign policy. Click here to read his resignation letter, which questions our mission at the deepest possible level.

Credit and Deflation

by Rick Ackerman on October 30, 2009 6:42 am GMT · 0 comments

I’ve often suggested tuning out money-supply definitions of inflation and focusing instead on credit, which has been collapsing.  Thus far, however, the collapse has been more than offset by the Federal Government’s expansion of the money supply, according to Frank Shostak, an economist whose work we have featured here before.  In a recent article written for Mises Institute, Shostak explains how deflation could arise from a further fall in credit, but only if the credit that is imploding is of the type that has been created out of thin air. Click here to access the article.