Comments on: Aren’t You the Least Bit Suspicious that Goldman is Talking Up the Banks? http://www.dailyreckoning.com.au/arent-you-the-least-bit-suspicious-that-goldman-is-talking-up-the-banks/2009/10/06/ An independent perspective on the Australian and global investment markets Sun, 21 Mar 2010 08:08:15 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Biker Pete, Vancouver Island, Canada http://www.dailyreckoning.com.au/arent-you-the-least-bit-suspicious-that-goldman-is-talking-up-the-banks/2009/10/06/comment-page-1/#comment-105628 Biker Pete, Vancouver Island, Canada Sun, 11 Oct 2009 20:06:12 +0000 http://www.dailyreckoning.com.au/?p=7159#comment-105628 One indicator that banks are in better shape may be their very recent re-emergence as sponsors of worthwhile community projects. For a decade a B4 bank has supported a town charity, for which I work without financial recompense. Earlier this year, the bank contacted us to withdraw support. As the 'lost' sum was considerable, around a quarter of all donations, this was a major blow; more so because our community is extremely loyal to that bank(!) A letter I wrote last week about the matter has received a very favourable response. It appears that we'll again get the money. Australian banks aren't in poor shape (for a _number_ of reasons, _one_ of which is the high rate of interest, comparative to other nations). One indicator that banks are in better shape may be their very recent re-emergence as sponsors of worthwhile community projects. For a decade a B4 bank has supported a town charity, for which I work without financial recompense. Earlier this year, the bank contacted us to withdraw support. As the 'lost' sum was considerable, around a quarter of all donations, this was a major blow; more so because our community is extremely loyal to that bank(!) A letter I wrote last week about the matter has received a very favourable response. It appears that we'll again get the money. Australian banks aren't in poor shape (for a _number_ of reasons, _one_ of which is the high rate of interest, comparative to other nations).

]]> By: Mike http://www.dailyreckoning.com.au/arent-you-the-least-bit-suspicious-that-goldman-is-talking-up-the-banks/2009/10/06/comment-page-1/#comment-105619 Mike Sun, 11 Oct 2009 15:15:17 +0000 http://www.dailyreckoning.com.au/?p=7159#comment-105619 Haven't seen any numbers for this week but as of last Friday (Oct 2nd) 98 banks had failed this year -- 96,97, and 98 occurred that week. These are small regional banks whereas the media only reports on Wall Street banks. The market doesn't care about a meaningful economic recovery. Rallies now eventuate when news breaks indicating we are getting worse slower (as opposed to getting better). Another half million people registered as unemployed last week. Market loved it because the number was 30,000 lower than predicted!! U6 unemployment (unemployment + people forced into part time work cause of no full time) is officially 17%. Given that the crash is now 12 months old we could see a drop in official unemployment numbers because long term unemployed, people out of work over 12 months, are not included in the numbers!! In other words rather than reduce unemployment by creating jobs here (living in USA) they are defined away. Haven't seen any numbers for this week but as of last Friday (Oct 2nd) 98 banks had failed this year -- 96,97, and 98 occurred that week. These are small regional banks whereas the media only reports on Wall Street banks.

The market doesn't care about a meaningful economic recovery. Rallies now eventuate when news breaks indicating we are getting worse slower (as opposed to getting better). Another half million people registered as unemployed last week. Market loved it because the number was 30,000 lower than predicted!!

U6 unemployment (unemployment + people forced into part time work cause of no full time) is officially 17%. Given that the crash is now 12 months old we could see a drop in official unemployment numbers because long term unemployed, people out of work over 12 months, are not included in the numbers!! In other words rather than reduce unemployment by creating jobs here (living in USA) they are defined away.

]]> By: peterg http://www.dailyreckoning.com.au/arent-you-the-least-bit-suspicious-that-goldman-is-talking-up-the-banks/2009/10/06/comment-page-1/#comment-104770 peterg Wed, 07 Oct 2009 02:08:48 +0000 http://www.dailyreckoning.com.au/?p=7159#comment-104770 "they pray that some other scheme will be established to take the troubled assets of their hands"... perhaps a 'little' carbon trading?, or a war. "they pray that some other scheme will be established to take the troubled assets of their hands"... perhaps a 'little' carbon trading?, or a war.

]]> By: Don http://www.dailyreckoning.com.au/arent-you-the-least-bit-suspicious-that-goldman-is-talking-up-the-banks/2009/10/06/comment-page-1/#comment-104656 Don Tue, 06 Oct 2009 04:51:07 +0000 http://www.dailyreckoning.com.au/?p=7159#comment-104656 You can read more on Mr Hudson here: http://michael-hudson.com/ You can read more on Mr Hudson here:

http://michael-hudson.com/

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