Posts Tagged ‘Click The Button’
Jeremy Grantham: Prepare for Low Growth, Higher Energy Prices
Monday, July 27th, 2009
Jeremy Grantham has released his latest newsletter, “Boring, Fair Price.” Grantham’s newsletter is a must read, given that he has made some of the most noteworthy and canny calls of the last decade. Grantham called the tech bust, accurately predicted 10 years out, the S&P 500 would revert to a fair value of 950 last fall, give or take a few days, and exited emerging markets last summer. In early March, his letter, presciently titled “Reinvesting when Terrified,” was released the day the market turned around.
Here, Grantham writes how he has bitten hard on the energy transition apple, a theme we have covered a great deal throughout the year, and goes to some, but not too much length to explain that higher energy prices loom, and what their impact will be on agriculture and transportation, and how oil will eventually flow (only) to its first and best uses. This one will be near and dear to Canadian investors.
Click the button in the top right corner to full screen the viewer, and use the menu on the left hand topside to print. Or, you may download it here.
Tags: 10 Years, Agriculture, Amp, Apple, Bust, Canada, Canadian Investors, Click The Button, Emerging Markets, Energy Prices, Energy Transition, Few Days, Gmo, Higher Energy, Jeremy Grantham, Last Decade, Left Hand, Low Energy, Newsletter, oil, Q2, Top Right Corner
Posted in Emerging Markets, Markets | No Comments »
Goldman Sachs: “Engineering Every Major Market Manipulation Since The Great Depression”
Friday, June 26th, 2009
Matt Taibbi, the controversial Rolling Stone investigative columnist who has been stalking Goldman Sachs, et al, to unearth the deep dark secrets as well as the alchemists of the current credit crisis, boldly alleges that Goldman Sachs has been “engineering every major market manipulation since the Great Depression.” The article covers a lot of ground, and while it may be difficult to agree with all of it, there are some glaring and enlightening confirmations that a good deal of it is plausible. For certain, this Rolling Stone article will make for great weekend reading.
Felix Salmon: Matt Taibbi’s 12-page screed on Goldman Sachs has appeared on newsstands… Suffice to say that in the second sentence of the piece Taibbi describes Goldman as “a great vampire squid wrapped around the face of humanity”; later on, he calls it “the planet-eating Death Star of political influence”. He’s also a dab hand at the pen-portrait:
Rubin was the prototypical Goldman banker. He was probably born in a $4,000 suit, he had a face that seemed permanently frozen just short of an apology for being so much smarter than you, and he exuded a Spock-like, emotion-neutral exterior; the only human feeling you could imagine him experiencing was a nighmare about being forced to fly coach.
Taibbi makes the case that it’s not just wheat futures which have been overrun by index speculation, but commodities in general and oil in particular. Indeed, Taibbi puts Goldman, Zelig-like, at the center of no fewer than four speculative bubbles: one in the 1920s in which Goldman-controlled entities ended up losing an astonishing $475 billion in today’s dollars; the tech bubble; the housing bubble; and the oil-price bubble ending in 2008. He calls the US “a gangster state, running on gangster economics”, and is very explicit about exactly who he thinks the gangsters are. (Clue: they paid just $14 million in tax on $2 billion in 2008 profits.)
To view the whole article, click here.
Hat tip: Zero Hedge
Source: Felix Salmon, Reuters, June 24, 2009 - Matt Taibbi vs. Goldman Sachs
Tags: Alchemists, Click The Button, Columnist, Commodities, Confirmations, Credit Crisis, Current, Dab Hand, Dark Secrets, Death Star, Goldman Sachs, Great Depression, Hat Tip, Housing Bubble, Major Depression, Market Manipulation, Matt Stone, Matt Taibbi, Newsstands, Nighmare, oil, Oil Price, Pen Portrait, Political Influence, Rolling Stone, Screed, Speculative Bubbles, Stalking, Stone Article, Top Hat, Wheat Futures, Zelig
Posted in Gold, Markets | 3 Comments »
