Juggling Dynamite

“I’m working on it, because I’m an investor that ultimately does believe in the system, but believes that the system itself is at risk.”

Central bankers, seeking to stimulate economies, have lowered rates below zero in Europe and Japan, driving down returns on national debt, while investors seeking higher yield have pushed up the value of other credit. Stimulus from central banks worldwide has artificially pushed up values of stocks and credit, which has made Gross cautious on such assets, he said.

Eliminating credit as an investment means “not buying stocks, not buying high-yield bonds,” Gross said.  Here is a direct video link.

Meanwhile global capital seeking shelter from other markets continue to move into US Treasuries driving so-called ‘safest’ yields lower in a vote for continued deflation.

“Low risk for the bank”…well with taxpayers underwriting the risk of capital loss, and bank bailouts and social payments to families when credit busts, recessions, job losses and foreclosures wreck havoc, and bank executives getting to sell junk, commit fraud, keep profits and stay out of jail– you can see why banks think these products are golden alright.

Branded “yourFirstMortgage,” Wells Fargo’s new product has a minimum down payment of 3 percent for a fixed-rate conventional mortgage of up to $417,000. Down payment help can come from gifts and community-assistance programs.

“We are fully underwriting the borrowers, we are partnering with Fannie Mae to originate and sell these loans…”  Here is a direct video link.

Now that the old conservative government is no longer gagging our scientists, we get a new non-shocking report from Environment Canada.  The finding: Alberta’s oilsands industry is one of the biggest sources in North America of harmful air pollutants called secondary organic aerosols (SOAs) that are then carried by winds across the country to pollute soil and water. See Alberta’s oilsands huge source of harmful air pollution, study finds: 

“Such production should be considered when assessing the environmental impacts of current and planned bitumen and heavy oil extraction projects globally,” the researchers wrote…

The World Health organization says particles of that size are small enough to be inhaled deep into the lungs, where they cause chronic inflammation. Long-term exposure significantly boosts the risk of dying of cardiopulmonary illnesses, and there is no evidence of a safe level of exposure.

Gee, it looks so environmentally friendly in pictures…