Key News & Views

– Bill Gross tells CNBC the dollar index will make a new low.  Editor Note: That’s a shock!

– Mark Faber tells Bloomberg the US dollar will eventually go to zero.  Editor Note: Mark, by then your great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great, great grandchildren won’t remember your ponytail once the world is on aTurkish lira based monetary system.  

Quotable
For Missing the Unmissable

Bernanke, the most passionate cheerleader of Greenspan’s follies, is picked as his replacement, partly, it seems, for his belief that U.S. house prices would never decline and that at their peak in late 2005 they largely just reflected the unusual strength of the U.S. economy. As well as missing on his very own this 3-sigma (100-year) event in housing, he was completely clueless as to the potential disastrous interactions among lower house prices, new opaque financial instruments, heroically increased mortgages, lower lending standards, and internationally networked distribution……

….read more HERE.