ForexLive » Dennis Yanez

Friday funnies on the way?

Dennis Yanez — Thu, 04 Feb 2010 18:03:19 +0000

Between “seasonal adjustments” and bureaucratic sleight-of-hand, it is almost an impossibility to try to guess the NFP headline number tomorrow, let alone the impact the “real” number will make on markets.

Perhaps “terrible Thursday” will put enough traders on the sidelines through the fear-of-god factor and the Friday jobs data will be a non-event.

For some further reading try this:

http://jessescrossroadscafe.blogspot.com/2010/02/non-farm-payrolls-report.html

A Stellar Group Obama Assembled for Banking Reform

Dennis Yanez — Thu, 21 Jan 2010 19:25:26 +0000

“President Obama joined Paul Volcker, former chairman of the Federal Reserve; Bill Donaldson, former chairman of the Securities and Exchange Commission; Congressman Barney Frank, House Financial Services Chairman; Senator Chris Dodd, Chairman of the Banking Committee and the President’s economic team to call for new restrictions on the size and scope of banks and other financial institutions to rein in excessive risk taking and to protect taxpayers. ”

The inclusion of Dodd and Frank, two world class experts on banking and economics who hand no hand in the recent financial fiasco, is particularly brilliant.

Who were the “brains” behind the TARP bailout? I seem to recall Republican congressmen were violently opposed to that stupid program and had nothing to do with AIG and GM bailouts either.

More grandstanding for the unwashed masses for votes in the 2010 general election. What deals will be cut to ensure campaign funds from Wall Streeters in the coming months I wonder?

Academics know ALL the answers

Dennis Yanez — Wed, 20 Jan 2010 11:54:04 +0000

Wondering why the global economy is so thoroughly screwed up? Please read this short article for some insights into why we are where we are in a faux recovery.

The Academic as Economic Expert Debunked

Another in a series of 2010 predictions

Dennis Yanez — Fri, 18 Dec 2009 13:10:46 +0000

“6. Angry American public to form third party in the US
The anti-incumbent mood is approaching 1994 and 2006 levels as a result of bail-outs and general disapproval of both the big parties. A demand for real change among American voters could propel a third new party to become a deciding factor in the 2010 elections.”

This is the most plausible of the bunch.

…Link…

And Trichet & Co thought they got dissed in China

Dennis Yanez — Tue, 08 Dec 2009 15:08:02 +0000

Talk about dealing with securities fraud. Tough love indeed.
BEIJING — China executed today the former manager of a securities company who embezzled millions of dollars — the first execution of an executive from the communist country’s financial sector, state media said.
…Link…

Obama administration proposes further stimulus measures

Dennis Yanez — Fri, 04 Dec 2009 15:13:25 +0000

In a never battle to stimulate consumer spending and boost economic activity, the administration is considering some of these proposals:

…Link… Visit W3Schools.com!New Economic Stimuli proposals

FC trading 1980’s style

Dennis Yanez — Thu, 03 Dec 2009 14:00:56 +0000

For all us old timers out there this brings back memories:

http://www.youtube.com/watch?v=_jhKEBVE9zw

Who could have made such a terrible mistake?

Dennis Yanez — Sat, 21 Nov 2009 15:55:57 +0000

If one is concerned about confidence in USD and the state of US debt levels, this opinion piece in NYT is required reading. When I read comments like this one from the op-ed piece I fear for what sort of ram-rodding of policies could occur if the Pelosi-Reed-WH economic advisory team troika will foist off on taxpayers.

Remember Reid has already complained about this pesky problem.

Strong dollar my foot!

“However, Yglesias feel that pesky matters like Congressional rules are getting in the way of that problem-solving: “But giving defeated electoral minorities veto power over large elements of national policy tends to undermine this dynamic. What’s wanted is an opportunity for the Obama administration to take its best shot at fixing the economy ….”

http://opinionator.blogs.nytimes.com/2009/11/20/whose-recession-is-it-anyway/

Perhaps Gerry could comment on the truth of this

Dennis Yanez — Wed, 18 Nov 2009 16:12:22 +0000

3 men arrive in heaven:
The first man walks up to Einstein and says “I have an IQ of 220″. Einstein says “excellent, we can discuss quantum physics!”

The second man approaches and says “I have an IQ of 120″…and Einstein says “that’s great, we can play chess together”

The third man saunters up and says “I have an IQ of 20″…Einstein says “so where’s Cable trading then?”

The shape of a global protectionist battle to come

Dennis Yanez — Sat, 14 Nov 2009 23:35:32 +0000

India, Japan, Korea and Thailand seem to think the great procrastinator will press China on anything? His Asian tour of contrition and apology is proof positive he doesn’t have the “right stuff” to be the supposed leader of the free world.

http://www.bloomberg.com/apps/news?pid=20601109&sid=al7q1khJ9o3k

… and the NYT piece on his Tokyo stop:

http://www.nytimes.com/2009/11/14/world/asia/14prexy.html?hpw

Soak the “rich”

Dennis Yanez — Tue, 05 May 2009 14:58:48 +0000

Seems O and Gov Patterson (NY) are redefining the term “wealth”. Annual income of $250,000 or net worth of $750,000 with one institution or total net worth in excess of $1.5 million is the new rich.

The article asserts with tax revenues dropping new guidelines are necessary. How soon before they move the goalposts again?

http://money.cnn.com/2009/05/04/news/economy/colvin_rich.fortune/

The Economic “red shirts” the “Greenshoots”

Dennis Yanez — Mon, 27 Apr 2009 12:03:13 +0000

For a couple of weeks we have heard O, Larry Summers and host of global talking heads opining the worst of the recession is behind us. The Economist sees it differently and warns against over optimism in this piece:

AEP once again in a cheerful frame of mind

Dennis Yanez — Fri, 24 Apr 2009 11:01:46 +0000

Germany’s slump risks ‘explosive’ mood as second banking crisis looms”

“A clutch of political and labour leaders in Germany have raised the spectre of civil unrest after the country’s leading institutes forecast a 6pc contraction of gross domestic product this year, a slump reminiscent of 1931 and bad enough to drive unemployment to 4.7m by 2010. “

Are economists deliberately making gloomier forecasts …

Dennis Yanez — Thu, 23 Apr 2009 12:54:53 +0000

… making still dreadful econ stats look “better” by comparison?

Although EZ data came in “better than expectations”, things can’t be too great in Der Vaterland if brothels have to run “Blue Light Specials” ala Kmart:

Sarky getting snarky – FT

Dennis Yanez — Fri, 17 Apr 2009 12:52:34 +0000

French president criticises world leaders

“Barack Obama is “not always up to standard on decision-making or efficiency”, José Luis Rodríguez Zapatero is “perhaps not very intelligent” while Angela Merkel “had no choice but to come round to my position” when she saw the state of German banks.

President Nicolas Sarkozy is well known for his blunt speaking and ascerbic observations. But even by his standards, insulting his American, Spanish and German counterparts – three of his closest allies – over a brief lunch is quite an achievement.

Thought for today … and tomorrow … and ….

Dennis Yanez — Thu, 16 Apr 2009 07:58:55 +0000

“Just because things have stopped getting worse doesnt mean they will get better.”

AEP in his usual cheerful frame of mind on EU junk bonds

Dennis Yanez — Wed, 15 Apr 2009 01:24:18 +0000

“A third all of junk bonds in Britain and Europe are likely to default over the course of this crisis as the debt-driven excesses of buy-out boom come back to haunt, according to a new report by Standard & Poor’s. “

Son of Sam(urai) is coming back

Dennis Yanez — Tue, 14 Apr 2009 19:54:49 +0000

May God save us all from another fiasco:

” April 14 (Bloomberg) — The carry trade is making a comeback after its longest losing streak in three decades.

Stimulus plans and near-zero interest rates in developed economies are boosting investor confidence in emerging markets and commodity-rich nations with interest rates as much as 12.9 percentage points higher. Using dollars, euros and yen to buy the currencies of Brazil, Hungary, Indonesia, South Africa, New Zealand and Australia earned 8 percent from March 20 to April 10, that trade’s biggest three-week gain since at least 1999, data compiled by Bloomberg show. “

WSJ – TARP relief extended to Life Insusrers

Dennis Yanez — Wed, 08 Apr 2009 12:45:48 +0000

Jamie pointed out Girl Scouts and Professional Bowlers yesterday, I would guess their relief plan is still a few weeks away. Poor babies.

“The Treasury Department has decided to extend bailout funds to a number of struggling life-insurance companies, helping an industry that is a lynchpin of the U.S. financial system, people familiar with the matter said.

The department is expected to announce the expansion of the Troubled Asset Relief Program to aid the ailing industry within the next several days, these people said.”

http://online.wsj.com/article/SB123914741752198971.html#mod=testMod

Ur Gummint Bailout Money At Work

Dennis Yanez — Tue, 07 Apr 2009 12:55:39 +0000

GM has the answer to its survival … it’s a bird, it’s a plane, it’s … a flippin’ bloated Segway. How practical and forward thinking. Especially their idea that :

“Mr. Burns imagines a hands-free urban driver ignoring dense city traffic to concentrate on sending text messages from a PDA clipped in to serve as a dashboard, while the mobile Internet pod moves toward its destination.”

Mr Obama, tear this company down!

http://wheels.blogs.nytimes.com/2009/04/06/gm-conjures-up-a-people-moving-pod/