Recent Reports Hint Of Trouble on the Chinese Front...collection of troublesome quotes..
Deepwater Cutters cancelled..."The U.S. Coast Guard has canceled a roughly $600 million contract awarded to a joint venture of Lockheed Martin Corp. and Northrop Grumman Corp., and said it plans to award a new deal next year"...due to serious design flaws...
China to Build State Owned Competition for Boeing, Airbus...CrossProfit says "China is sitting on top of a trillion Dollar surplus and has finally figured out how to spend it constructively, thus helping its people while simultaneously preparing the Chinese economy for the next fifty years"...this move would make sense...
Blackstone is planning an IPO...apparently "Blackstone Group, one of the most powerful private equity players, is reportedly planning an initial public offering that could come to market in the next few months"...in my opinion this is a sign of a market top in private equity...the big dogs are looking to dump on anyone foolish enough to buy into this..
Homeowners Drop Insurance After Katrina...The AP has a story saying "Facing soaring premiums or feeling shortchanged by their insurers, a growing number of homeowners and businesses in Louisiana and Mississippi are "going bare," or dropping their coverage altogether, insurance agents and consumer advocates say. Many more are drastically reducing their coverage"...that is not an unreasonable response to the higher insurance rates that are being quoted. The probability of another major hurricane hitting New Orleans is publicly available, and one can weigh the expected value of all those premium payments vs the cost of just walking away...
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