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  • Bailout Package For Greece Put On Hold...

    In This Issue..

    * Euro rally fades on latest Greek development...
    * Brazilian real rallies...
    * Canadian loonie ratchets higher...
    * Another Geithner smoking gun?

    Good day... And a Tub Thumpin' Thursday to you! It's Tub Thumpin' because... I say so! Every day's a new day... And for someone like me that had two strikes called on me before I knew the pitch was even coming... Every day is special!

    I want to thank every one that sent along a note of good wishes, and advice to tell the people that decide that email is a good way to ruin someone's day, good riddance... I'll have more on this in the Big Finish...

    But what a day the currencies had yesterday! The euro gained ground all the way back to 1.3730 (but saw some profit taking at the end of the day) and all the other currencies followed in step... Now... There's two ways to look at this... Either the euro is like a star that's getting ready to burn out... (it always shines brightest before it burns out), or... It's like a star that had been covered up by another planet, and is coming back into view!...
  • The Italian Job...

    * The dollar continues to rally... * Obama bounce picks up steam... * ECB and BOE meet this week... * Brazilian reals on a roll! ** The Italian Job... Good day... And a Terrific Tuesday to you! A very icy Tuesday here in St. Louis... When I left home this morning (I live Southwest of the office) there was nothing on the ground, but as I got closer to the office, I could see the ground was wet. Arriving in the parking lot, I found the wet to be nothing but ice! You should have seen me attempting to walk from my car to the front door! Shuffling my feet very slowly was more like it, but can you blame me? That's all I need is to take a nasty fall on ice when I'm already walking with a cane! Oh well, I'm here, and safe... Well, front and center this morning, the dollar has gained a huge chunk of ground back from the euro and Swiss franc that it had lost last month. The euro has seen the underside of 1.34 in almost a month, but that's where it sits this morning. And the Swiss franc has taken a tumble too... So, what's the reason behind this move? Ahhh grasshopper, sit, and listen, there's a story to this that you'll want to hear!...
  • Retail Sales Disappoint Again...

    * Dollar rally continues... * U.S. data continues to be weak... * Gold and the A$... * Sterling melts away... ** Retail Sales Disappoint... Good day... And a Thunderin' Thursday to you! Michael Phelps didn't swim in any finals yesterday, so no Gold for the U.S! I'm just floored by this kid! My oldest son, Andrew, was a pretty good swimmer in his day, but my goodness, this kid is on a different planet! OK... Well, front and center this morning, we have a report that just printed that shows U.S. Home Foreclosures rose 55% in July. Bank seizures almost tripled according to RealtyTrac Inc. That's sad folks, simply sad... I look at this report and shake my head in disgust for Alan Greenspan. Yes, Big Al Greenspan is the root of all evil in the housing meltdown... Sure there were the greedy folks that booked loans that shouldn't have happened and all that, but down at the root of the meltdown you'll find Big Al's picture!...
  • London Traders Buy Dollars...

    * U.S. and U.K. Holidays... * Kiwi "catches up"... * Brazil's Current Account... * Watch out for protectionism......