http://pragcap.com/the-only-news-you-need-to-know-today

Anyway, thanks to lefty, bought some long treasuries in our Fidelity IRA’s where we don’t have much cash. Research and spreadsheet makes it look good. Would like to buy some in my schwab acocunt where I have a good bit of cash, but they only show ask and not bid numbers on bonds. Fidelity shows both bid/ask and don’t look too bad. Anyone have any experience of trying to sell treasuries through Schwab?

http://www.businessinsider.com/henry-blodget-inflation-will-save-us-inflation-will-save-us-1933-propaganda-film-2009-6

Oops. Inadvertently hit submit without the link before.

‘Bubble of Belief’ in China Economy Seen Bursting

http://www.bloomberg.com/apps/news?pid=20601109&sid=aN5ok_FbkeQw

it’s all a charade- place your bets accordingly

Anyone have an experience with Schwab’s spreads?

http://zerohedge.blogspot.com/2009/06/soc-gen-expect-new-equity-lows-in-h2.html

The post is a deflation of the China will save the world theory currently in vogue. Sorry to sound like a broken record, but I agree wholeheartedly with him that China is playing a confidence game like the US is and that it may endure a greater collapse than we are. There are too many stats contradicting all the rosy pictures painted of the “Chinese recovery.” Just this morning, CNBC was crowing about the fact that Walmart and some other companies were going to list on some Chinese exchanges and how much higher the multiples are there, which alone should tell you something.

Firs, a mostly on-topic reference: The chart Barry posted looks a lot like that for China with the exception of a little blip at the end.

http://zerohedge.blogspot.com/2009/06/soc-gen-expect-new-equity-lows-in-h2.html

The article is devoted to deflating the China-will-save-the-world-theory that is current. Had CNBC on for a few minutes this morning and some of them were rejoicing about news that Walmart and some other companies were going to be listed on Chinese exchanges and how much higher the multiples were over there. Nothing like high multiples to inspire confidence. Sorry to keep harping on China, but I agree with the zero hedge post that the China story is part of the con game being played right now.

Ben22: thanks for the link to the Eclecitca doc. Hendry is my hero since he did that “monkey’s pick bottoms” rant.

Thanks to Lefty for bringing up the idea of buying long treasuries. Got some for me and the wife in our Fidelity IRA’s. Didn’t have much cash there, though. But they did show the spreads. In Schwab, where I have a lot of cash, they don’t even show the spreads, only ask prices. While the ask prices were consistent with Fidelity’s, I wonder what their spread is when it’s time to sell. When I emailed Schwab, they were very ambiguous about that and recommended calling to get quotes so their specialist could get me the best price. WTF? It’s all computerized.

Anyone have any experience with selling treasuries at Schwab?

Sweet dreams to Lefty thinking about Karen thinking about the leftback bottom. Think of her thinking about it in a bikini. :)

http://zerohedge.blogspot.com/2009/06/reit-cbls-brief-and-painful-stay-on.html#disqus_thread