Bank Loans
Stocks jumped up a little today, but they are really going sideways as are all other markets.
In the news today…..
Bank Loans – are down since the crisis started – not much new there, but what are the banks doing with your deposits? Here is a graph showing the decrease in loans.
Bank Loans
Banks are buying short term Treasuries, and making money on your deposits. So, the banks, in effect, are bailing out the government as the government needs somebody to buy their bonds. What a warped world we live in. Here is the change in bank loans and treasury purchases. It tells the entire story.
Bank Assets
US Monetary Base – or how much money is the FED printing? Look at the following graph and you will see that the FED hasn’t stopped printing money now that we are “recovering”. I wonder why? They just don’t seem to think that less money is needed yet – so they keep on printing. This is the inflation story in a graph.
Monetary Base
Turkey Wild Card – the Turkish Government arrested 50 officers in their military who were planning a coup d’etat. I am reporting this to you so you know that things can come out of the blue to change everything. What if the military took over Turkey, and they were militant islamists? What would that mean to the world?
And here’s what happened last week……
New Housing – sales were down
Jobless Claims – were up
Durable Goods Orders – were down.
All bad news for the economy, and which was totally ignored by stocks.
Here are the last numbers for today:
Dow Jones 30 Industrial – 10,404 (up 79)
10 Year Treasury Bond – 3.61% (up 0.01%)
Euro – $1.3556
Gold – $1118 (down $1)
Oil – $78.87 (down $0.87)
Gasoline – $2.16 (down $0.03)