What is truth?

Archive for January, 2013

NAMA Wine Lake

“We will amend the rules to ensure that no senior public servant (including political appointees) or Minister can work in the private sector in any area involving a potential conflict of interest with their former area of public employment, until at least two years have elapsed after they have left the public service” Fine Gael/Labour Programme for Government March 2011

Fine Gael and Labour came to power with a programme for government which promised to strengthen safeguards to prevent state employees with privileged access to confidential information and policy, from quitting to work in the private sector where they might expect to be enriched by virtue of formerly privileged access. This followed a decade of so-called “revolving doors” which is a misnomer because it is used to describe one-way traffic where senior civil servants including secretary generals at government Departments left for lucrative positions in the private sector

What the…

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“fake economist unmasked”.

The story in the Guardian is of a Portuguese chap who convinced everybody, possibly including himself, that he had taught economics in the USA and even worked in the world bank. He debated issues on the economy regularly on Portuguese media, and became a celebrity and celebrated for his easy style and making simple of the complex.

There is of course much glee being rubbed on hands at this – many people consider the whole activity of economics to be applied charlatasim. But it raises a question on the nature of the business.

There is to me no such thing as the profession of an economist. A profession, I suggest, is on that has rules and regulations, standards for entry and exit, a recognized way of doing things. Accounting is one ; so also is nursing, or taxidermy. Economics has none of these. The deficiencies in modern (macro) economics have been well publicized over the last half decade : a read of the blogs of Krugman, Simon Wren Lewis, Mark Thoma, or a host more will show both an evisceration of the abstruseness of much of modern macro modeling and a deep searching of the soul by practitioners of a craft………………………..

full article at source: http://www.irishbusinessblog.com/2013/01/30/pretending-to-be-an-economist-not-really-such-a-bad-thing/


France is Bankrupt and is too Big to Bailout

Quote of the week

“When the republic is at its most corrupt the laws are most numerous.”


– Tacitus

Dick Emery – the milkman

German Economy: Returning to zero growth in January 2013


Germany’s CESIfo published the latests (January 2013) assessment of the state of the German economy in Manufacturing and these are slightly more upbeat than at the end of Q4 2012, albeit with some clear seasonal supports.

“In manufacturing the business climate indicator continued to rise. Manufacturers are more satisfied with their current business situation than last month. The improvement in expectations with regard to future business developments continued into the New Year. Optimism is returning. After three successive declines, capacity utilisation rates also rose.”

As per data below, in manufacturing ‘optimism’ is not exactly ‘returning’, but rather ‘pessimism is receding’, as business expectations remain below 0 on balances:

full article at source: http://trueeconomics.blogspot.de/

New Highs- Bull market continues

Sent into us by Val,Thanks !

by: Peter Brown

Market reached new highs yesterday. After a pull back to support the market put in a strong rally above 1500. There seems no end to the strenght of this market. Driven by a need for return and the lack of interest rates anywhere else it would seem everyone is piling into stocks. It will lead to a correction eventually but we could be a lot higher before that happens.

Today we are off to a strong start. 1498 is support and 1506 is short term target.Market is not overbought so we can go higher. If there is to be a correction it will require some fairly bad news, so Friday NFP numbers are probably the only chance. This market is a buy no question about it. Wait for the dips.

Euro is on a burner higher. 1.3500 and above. There is little on the charts and expect further gains once the stock market rally continues.

Max Keiser report 398

“Trade Trigger” Service Announcement from Wealthbuilder.ie

“Wealthbuilder Trade Trigger” © was launched in January 2012. It is a service whereby 10-15 equity trades per year in “real time”, are sent to student-investors by text and email, during the main American Stock Market trading hours. (10am – 4pm U.S Eastern Time; 3pm – 9pm Irish Time). This unique service motivates participants to comprehensively track trades from their mobile phone, tablet, or computer desk-top. Full sell “stop loss” levels are always provided when trades are “triggered”.
This service was developed for the benefit of some students who were experiencing difficulty successfully applying what was taught in the Wealthbuilder investment course due to work place or life-style constraints.
The investment approaches used in the “Trade Trigger” service mirror the Value and Momentum strategies used in the Wealthbuilder training and mentoring course. This course marries fundamental analysis with technical analysis and its mission is to “hot-house” students so that they may quickly master the investment and trading techniques necessary to achieve superior investment returns.
Fundamental analysis is utilized to identify excellent “Trade Trigger” candidates. Technical analysis is applied to choose entry points, sell stop levels, hold positions and sell points.
Over the past year “Trade Trigger” has grown to become a significant additional resource available to student clients and has helped them experience a quantum leap in their trading application, market understanding and investment success.
Ideally the “Trade Trigger” system is best suited to market participants who intend to invest through index brokers. The leverage and liquidity provided by these types of investment houses allow students to be fully invested even though they may have no more than 10% of their portfolio at risk in any one stock. Potential losses are mitigated through the disciplined use of stringent stop losses.
The Trade Trigger service costs 1,500.00 Euro per annum.
The programme objective is to guide students to attain average returns in the 40-60% range.
The Wealthbuilder course director is Christopher M. Quigley. He was born in 1958 in Dublin, Ireland. He holds a Bachelor Degree in Accounting and Management from Trinity College Dublin and is a graduate of the Marketing Institute of Ireland. He commenced investing in the stock market in 1989 in Belmont, California where he lived for 6 years. He has developed the Wealthbuilder investment and trading course over the last two decades as a result of research, analysis and trading experience. This system integrates fundamental analysis with technical analysis and focuses on momentum, value and pension strategies. Since 2007 Mr. Quigley has written over 80 articles which have been published on popular web sites based in California, New York, London and Dublin.

A full archive of “Trade Trigger” trades since inception may be reviewed through this link http://www.wealthbuilder.ie/trade-trigger.html

Iceland President: Let the Banks Fail

Iceland President: We Decided to Let the Banks Fail , “We didn’t follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery.”



By Thomás O Cléirigh
Yet we in Ireland are saddled with puppets who are mouthpieces for the faceless bondholders who now control every aspect of Irish public life. They have total control of the media, Unions, civil service and the Judiciary, and we are bombarded with the mantra we have to pay every penny back to the bondholder gamblers and crooked bankers. Otherwise our country would be shunned by the world markets!
What bulls,**t , we are now financial slaves and we are worse off now than we were five years ago! These debts are not ours and constitute “odious debts” We must refuse to pay any more and demand the return of the funds we have already paid out period!
The incompetent politicians and civil servants must also be brought to justice one way or another!

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