tag:blogger.com,1999:blog-1258979445050968882.post3405517859651759613..comments2023-11-26T06:55:42.401-05:00Comments on [ The Financial Ninja ]: Financials Face Massive Credit HurdleBen Bittrolffhttp://www.blogger.com/profile/12465978905157927856noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1258979445050968882.post-66956428756380093462008-08-28T12:18:00.000-04:002008-08-28T12:18:00.000-04:00Just read an interesting post over at Mish's Globa...Just read an interesting post over at Mish's Global Economic Trends. Short version: he is debunking conspiracy theories regarding why gold/silver are sliding. The piece that grabbed me is that banks are refusing to lend to continue to fund futures contracts and even retail shops handling coins despite confirmed orders. THAT tidbit (along with LIBOR rates ratcheting up) tells me the banks are getting worse and worse and that we are in for some rough sledding for the rest of the year. I think being short equities is a wise move...and watching gold/silver for a future 'tell' is even better.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-50633604866916187732008-08-27T16:02:00.000-04:002008-08-27T16:02:00.000-04:00Canadian banks are trading at more than double the...Canadian banks are trading at more than double the P/B multiple of US banks - granted there haven't been any dramatic increase in bad debts yet, but the housing market is finally starting to slip. If commodity markets continue to weaken, we'll get a real chance to see if the banks are as "conservative" as everybody says.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-20617152617722911402008-08-27T11:40:00.000-04:002008-08-27T11:40:00.000-04:00thanks Ben.On your XFN, momentum is doing some dan...thanks Ben.<BR/><BR/>On your XFN, momentum is doing some dancing, but it appears to be oversold. With bad news looming, do you expect a big drop...since it is already oversold? Or do you expect a slow slide into the teens?<BR/><BR/>Thx for input on SKF. I just read FDIC needs to borrow money to cover all the bank failures.<BR/><BR/>It reminds me of the big earthquake in SFO. It put many quake insurance underwriters out of biz as they could not cover the policies. <BR/><BR/>How many more banks & institutions does the fed need to bail out before it goes bankrupt?Anonymousnoreply@blogger.com