Don't Mess With Momma Bear

The cardinal rule of the (real) bear crowd is never mess with the female bears.

The biggest bear trap in the history of the free world? As people from all of Europe pile into US Dollars and buy Treasuries (bonds) and gold....our interest rates go yet lower....

We have been wrong on our bearishness on US debt.....but for the right reasons. We never like to invest in bad business plans, poor management or money losing operations. The key metrics everyone is so focused on in Greece right now... for it's relatively small population...when applied here... to our balance sheets.....we are worse.....by the way..the USA is a material part of the proposed cash bail out..where does that capital come from?

Wdc, llc., gets yet another pass for now by the media and the markets.......they think they can lose trillions and borrow to do so and not have to pay anything to access that capital....this is not a long term trend...but a short term one.

Black Gold? As investors debate the future of China, we read that China's coal imports jumped 165% in March year over year....others observe that if current trends continue... demand might exceed supply availability from all of Australia....next year!

The US Stock Market remains the best relative performing market in the world.

The NY T's had a nice article on complexity recently...."Complexity creeps up on you, it's the cumulative costs that makes a society insolvent....it was the cumulative impact that did them (The Romans) in".

Soon American children will say things like the Greek 36 year old said last week, "I cannot help but blame my parents for what's happened. They were here all the time, but what did they do to stop it". Another 24 year old said, "We will live much worse than our parents, why should we be made to pay for their mistakes."

Stocks over sold?
Bonds over bought, yes.
Oil, still in a trading range.
Nat gas bottomed.
China still resting......AND VERY MUCH NOT IN THE NEWS
Gold...new highs in all other currencies than the US dollar.
Yuan under priced, yes
Silver seems cheap relative to gold.
The biggest and most profitable stocks are now the least expensive...which is unusual...

The disaster in the Gulf oil rig will have broad and material impacts on all drilling going forward...lets hope that gets capped very soon.

Danny Boy seen here... sees this chaos as disturbing to so many people....