Reames Financial

Libor Scandal? Who Cares?  According to Warren Buffett We All Should!

No BS Weekly Update  7/16/2012
In This Issue
Looking in the Mirror
Cool Stuff
Secret Lives of Links
Good Eats

QOTD

 

"Don't go around saying the world owes you a living. The world owes you nothing. It was here first." -Mark Twain

 

Like us on Facebook

 

Follow us on Twitter

 

View our profile on LinkedIn 

 

Dear  ,

 

Libor Scandal?  Who Cares?  According to Warren Buffet We All Should!

 

How many of you have been following the Libor Scandal in Europe?  Many of you are probably saying "Libor?  What the heck is Libor?"

Let's start at the beginning as they say; whoever they is. 

wikilibor
(Click to read article)

If you'd like a more in depth analysis then try this article from the Economist. 

wikilibor
(Click to read article)

But still, many would say "So what, that's Europe.  Why should I care?"

 

Well here's a 9 minute video interview with Warren Buffet and why we should care here in the US.
buffet
(Click to read article and watch video)
Be sure to check out the slide show in the article below the interview with Mr. Buffett.  It gives you very concrete ways in which this scandal could affect all of us here in the US.  The biggest issue here in my opinion is the shaken confidence in the financial markets.  We are supposed to be playing on a level playing field.  Now we find out that is not the case at all.
In my opinion this is just one more issue that will make people skeptical about the markets and will further damage what is already the weakest recovery since the Great Depression!
 
The 2012 Reames Financial Half-time Report: The Certainty of Uncertainty
 
I again want to take a quick moment to remind you that the 3rd Annual Reames Financial Half Time report is coming up.  In our continuing effort to leverage the internet we will be doing this year's Half Time Report as a live webinar.  We will take a look at how things have gone for the first half of the year.  We will look at how that compares with last year at this time.  And we will talk about where we think things are going and what opportunities we think are worthwhile.

The theme of this year's Half Time Report will be "The Certainty of Uncertainty".  The date will be July 24, 2012 at 7:00 PM.  Please put it on your calendar now.  Look for your email invitation later this week!

 
Until next week , Protect Your Wealth! 

 

Sincerely,
Phil's signature in blue

 

 

 

 

Like us on FacebookFollow us on TwitterView our profile on LinkedIn
Week In Review
Market Savior? Stocks Might Be 50% Lower Without Fed(CNBC)

RF: But can they keep it up forever?

Achuthan: US Has Already Plunged Back Into Recession(Moneynews)

RF: Might want to take note of this. The ECRI has been incredibly accurate in calling recessions in the past.

Richmond Fed's Lacker: US May Be Close to Maximum Employment(Bloomberg)

RF: Is this part of the new normal that Mr. Gross at PIMCO has talked about? It used to be that 5% unemployment was considered full employment. Mr. Lacker is now suggesting that things have changed and around 8% unemployment is considered full employment. That means that he thinks those lost jobs are never coming back. Wow!

Regulator: Dismal Housing May Force Banks to Take Risky Bets(Reuters)

RF: As if the banks don't have a choice! Nothing has changed. Our banks are still taking what many would consider inappropriate risks.

Actions by Trio of Top Central Banks Reflect Rising Level of Alarm(Reuters)

RF: It's not just the U.S. It's not just Europe. It's all around the world. Even the Chinese central bank is taking action.

Laughter

DownDaily 9-22-2011  

COD
(www.chartoftheday.com)

Growth 

Teen Millionaires...How Did They Do It?
Teen Millionaires...How Did They Do It?

Link 
 Dare to take the mystery link challenge? 

 

We can't be held responsible for the time you waste or the knowledge you gain by clicking this link!

 

CLICK HERE IF YOU DARE!
Good Eats
One of the things I love about summer is the chance to eat what I call carnival food.  Really good crappy food that is not healthy for you at all.  It's an indulgence.  You wouldn't want to try and live on it but a couple of times a year, what the heck?  Enjoy!
corndog
(Click for recipe and to print)

If we're worth reading we're worth recommending.

That's no BS.

Please let others know about us!

 

Like us on FacebookFollow us on TwitterView our profile on LinkedIn

Securities offered through Foothill Securities, Inc.  Member FINRA/SIPC
Reames Financial is not an affiliate of Foothill Securities, Inc.

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The DJIA was invented by Charles Dow back in 1896.

The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia.
 
The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.

Google Finance is the source for any reference to the performance of an index between two specific periods.
Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

Past performance does not guarantee future results.

You cannot invest directly in an index.

Consult your financial professional before making any investment decision.

Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

These are the views of Reames Financial and not necessarily those of Foothill Securities, Inc., and should not be construed as investment advice. Neither Phil Reames, Reames Financial, nor Foothill Securities, Inc. gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information.

By clicking on these links in the No BS Weekly Update, you will leave our server as they are located on another server. We have not independently verified the information available through this link. The link is provided to you as a matter of interest.

Phil Reames

Reames Financial

1856 Skyler Dr.

Kalamazoo, MI 49008

269-349-3966

preames@reamesfinancial.com