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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Friday, April 17, 2009

News Roundup 4-17-09

Goldman Sachs beat earnings at 3.39
Goldman Sachs buries losses to beat estimates - Pretty amazing that the mainstream media (CNBC) don't look below the surface when GS beat estimates this week.
Wells Fargo may need 50 Billion in capital
MetLife Won’t Seek Capital Injection From Treasury
HSBC Finds Buyers for 97% of Record Rights Offering - 22% US Stock dilution with a 41% discount.
U.S. Planning to Reveal Data on Health of Top Banks
Treasury says some Life Insurers will get TARP money
Fed sees no economic recovery this year
Nationwide Mutual cuts 480 jobs and CEO steps down
Fed buys $7.37 billion in Treasury's - I have posted my opinion on this before, click
PIMCO U.S. Debt Holdings to Highest Since 2007 - I cannot comment, PIMCO is owned by Allianz
UK Debt to reach 12% of income - Opening act for the main show, USA.
Biggest recessionary output drop since World War II - Nothing to see here, the worst is behind us, move along

CHINA
China Slows Purchases of U.S. and Other Bonds
China moving into precious metals - Copper? - If the worlds largest country believes resources makes a good investment over treasuries, I won't argue with them!
China Loans, Money Supply Jump to Records on Stimulus
China 1Q09 - 6.1% GDP estimate - AMAZING how only 6% GDP growth is considered "bad" for China. I still contend China leads the US out.
China Mulls New Stimulus to Boost Consumption, Bolster Recovery

One of the reasons I am currently bearish on gold can be found in the comic below, since gold is the "popular" play with the masses.

Matt Bors

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