ODDS AND ENDS

NEW YORK (Reuters) -" Goldman Sachs Group Inc posted a 53 percent decline in quarterly profit on Wednesday, in part reflecting lower results in fixed-income trading."

"Wells Fargo 4Q profit up, aided by lower reserves" - AP (same link)

Bank "profits" aided by lowering loan loss reserves? even as housing prices continue to slide?

2010 ends as 2nd worst year for home construction - AP story link

Starts are about 50% LESS than during a normal economy, recovery.

Chinese President HU (not WHO) is here, first visit since 1997. He has stated NO CHANGE IN YUAN currency valuations, and Pres Obama has insisted things muct change, as has Congress. Chinese currency manipulation has destroyed US manufacturing and gives them unfair advantage.

Even a 20% revaluation would not help, Chinese workers on avg make 10% of what US workers make. THEN we have to BORROW to buy the CHinese products...think about it next time to see an ipad that allows 65% margins for Apple....they dont want to make it here, but they want you to buy lots of them...but nobody cares.

A SUPER BULL would be first time one started without dividend yields and PE'S matching the avg of all other MAJOR BEAR BOTTOMS in history....with almost everyone bullish and all in as cash held by FUND MGR'S at all time low.....you always need new money coming in....always must find the greater fool to hand off to....it's ALL PAPER PROFITS until you sell.

The SECULAR change may be employers attitudes towards overhead, meaning head count. LESS people doing more with aide of technology is good for profits.....

WHO THEN is going to buy the enormous inventory of unsold homes and the addt'l shadow inventory held off the market because just like diamonds held in a vault in Russia, it would crash the market.

CHINESE have further hinted they want the YUAN to be the reserve currency, and they are already our equal or better militarily, which they built with US $'s.....thank you very much! welcome to 3rd world status

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