Monday, May 11, 2009

Stress Test Mess; Hard Assets Conference

The 'Helicopter Economics Investing Guide' is meant to help educate people on how to make profitable investing choices in the current economic environment. In addition to the term helicopter economics, we have also coined the term, helicopternomics, to describe the current monetary and fiscal policies of the U.S. government and to update the old-fashioned term wheelbarrow economics.

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Over the weekend, the Wall Street Journal reported that banks were given major concessions on the Stress Test and their needs for capital were reduced considerably from first estimates. This blog already reported last week that you couldn't believe the stress test numbers. We are glad the mainstream media is trying to keep up with our reporting only days later, instead of the usual weeks or months later as has been the case in the past. Reports were also out this weekend that bankruptcy for GM is inevitable. Surveys show people became more reluctant to buy GM cars once president Obama, in a kick them while their down moment, said the government would force them into bankruptcy unless a number of concessions from bondholders, unions and management were made. Great way to handle the problem of a declining U.S. manufacturing base and make the current deep recession even worse. GM should just convert itself to a bank (its credit arm GM capital already did) and then it would be permitted to lie about its financials and receive unlimited government handouts - it's the American way (unfortunately).

The New York Hard Assets Conference is today and tomorrow and I will be covering it in the blog.

NEXT: Hard Assets - the Good, the Bad and the Sleazy

Daryl Montgomery
Organizer,New York Investing meetup

This posting is editorial opinion. Like all other postings for this blog, there is no intention to endorse the purchase or sale of any security.

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