predictions

  • 16 Dec 2011 at 12:59 PM

Dick Bové: Everyone Is Getting Fired

Over the past six months or so, Wall Street has laid off a whole bunch of people. Unfortunately, having a job at this very moment does not mean you will 3 months hence. More cuts are a’ coming and according to Rochdale analyst Dick Bové, a lot more. What kind of numbers is he talking about? Let’s see. Morgan Stanley said yesterday that come 2012, 1,600 employees will be relieved of their responsibilities to the firm. Citi is getting rid of 4,000. RBS will be letting a buch of staff go, too, though the Brits have not said how many. Let’s assume a few other firms will add a couple thousand bodies to the count. How many did you get? ‘Cause after carrying the one, Bové estimates “at least another 150,000 will be fired in 2012,” and while no, he won’t show his work, he will tell you this: the government is loving this. Read more »

The Brits hate to be the bearers of bad news but if they have to, they have to. Read more »

  • 16 Sep 2011 at 1:01 PM

Bloomberg: Go Get Your Gas Masks

Mayor Bloomberg warned Friday there would be riots in the streets if Washington doesn’t get serious about generating jobs. “We have a lot of kids graduating college, can’t find jobs,” Bloomberg said on his weekly WOR radio show. “That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.” Bloomberg’s unusually alarmist pronouncement came as President Obama has been pressuring reluctant Republicans to pass his proposed job creation plan. “The damage to a generation that can’t find jobs will go on for many, many years,” the normally-measured mayor said. Bloomberg gave Obama kudos for coming up with a jobs plan. “At least he’s got some ideas on the table, whether you like those or not,” he said. “Now everybody’s got to sit down and say we’re actually gonna do something and you have to do something on both the revenue and the expense side.” [NYDN]

From: Richard Bove
Sent: Friday, September 09, 2011 05:58 AM
Subject: Predictions

Read more »

“I thought a few months ago that the perfect storm would be 2013,” Roubini said in an interview in London today. “But now, the economic weakness in the U.S., euro zone and the U.K. is front loaded. So we’re going to double dip earlier. The climax of it could be 2013, or it could be already earlier. It depends on what policy tools are available.” [Bloomberg]

“Gold is strong in any and all currency terms, and it is now entering that stage when prices go parabolic,” Gartman said today in his Suffolk, Virginia-based Gartman Letter. “This will end when it ends; there is really nothing more that can or shall or should be said.” [Bloomberg]

Related: Dennis Gartman Just Wants To Point Out That He Sooooo Called That Earthquake In Japan

  • 20 Jun 2011 at 3:47 PM

Analyst: Might Not Want To Light A Match Near Athens

As Egger noted, there is “ample precedent” for protests to turn into riots. In 2008, demonstrations over the shooting of Alexandros Grigoropoulos, a 15-year old boy, by police in Athens, turned into a week-long riot, with public buildings, including a police station, set on fire by protestors wielding Molotov cocktails. The riots escalated so quickly and were so widespread that the Athens police reportedly ran out of tear gas. With tensions as high as they are now, Egger said, overzealous policing could see the situation spiral out of control. “Until the vote of confidence and after that, until the vote on austerity, there is a very explosive situation there,” he said. “The Greek police are not known to operate with a soft touch. This is a very risky situation. If they injure or kill somebody with whom they are fighting these running battles, then the whole thing is going to go up in flames, like it did in 2008.” [CNBC]

  • 20 May 2011 at 4:00 PM

Jamie Dimon: Debt Default Would “Dwarf Lehman”

It would be a “moral disaster” if the United States were to default on its debts and become unable to pay its obligations, Jamie Dimon said at an appearance in Colorado Thursday evening. The U.S. is the financial linchpin of the world, and the economic effects of the U.S. defaulting could be “potentially catastrophic,” he said at a dinner for the University of Colorado Denver Business School. “It will dwarf Lehman,” Dimon said. [HP]