Business Summary Links By Day
The
Federal Reserve Sends Thank You Letters To Congress For Letting Them Destroy
Our Economy In Secret http://albertpeia.com/feddestroyingeconomy.htm , Time to reap gains and hedge positions Marketwatch
‘it is time to take profits’, Dave’s
Daily: http://www.etfdigest.com ‘IRRATIONAL EXUBERANCE DOESN’T LAST 10-1-12
In the eurozone Monday it
was revealed that €59 billion
was less than €62 billion
expected and needed from the Spanish bank stress tests. Further, unemployment
in the eurozone soared to a record 11.4% and corporate earnings estimates were
lowered by 52%. All this was seen as bullish prompting innovative spin such as
Nicholas Spiro, managing director of Spiro Sovereign Strategy in London
asserted: “Although the
political and economic situation in Spain is extremely precarious, and
manufacturing and labor market conditions across Europe remain bleak, investors
are taking comfort from the fact that things could be worse.” So, when a reporter calls
you for a comment, and clients may be aware, try some nonsense to dazzle
them.There was some good news from the ISM Mfg Survey (51.5 vs 49.7 expected
& prior 49.6) which was the first increase in months. The PMI Mfg Index was
more sobering (51.1 vs 51.5 previous) and Construction Spending was weaker
(-.6% vs .6% expected & prior revised to -.4%). The ISM is one of the more
important indicators and bulls ran with it recanting the previous theme, “bad news is good, good news
is better”. So there’s better data they think
and QE3 provides the safety put bulls love.Bernanke was
speaking today and touted the Fed’s QE3 program as a good strategy to cure high unemployment.
This is hard to understand since all previous QE attempts have failed to budge
unemployment much. He also stated the inflation would remain low for a long
period. This also doesn’t square with
what most folks are paying for food, energy and healthcare. But, perhaps he and
Mrs. Bernanke don’t need to
shop for food, have the government limo to escort them about and most night’s out for food are taxpayer
funded. Bernanke also surprisingly stated that stimulus (QE) would be kept in
place even after the economy gains strength. He argued that Milton Friedman
would be approving of what the Fed was doing. This definitely does not agree
with Anna Schwartz who co-wrote with Friedman the famous “A Monetary History of the United
States”. She criticized Bernanke & Co policies before
passing away this June. “It’s like the only lesson the
Federal Reserve took from the Great Depression was to flood the market with
liquidity,” she told an
interviewer in 2008. “Well, it isn’t working.” And, as to bailing out
banks she called them “rogue
operations”.So stocks
rallied sharply out of the gate and were turbo-charged after the ISM data at 10
AM. Early gains were led by materials (XLB) and the industrial (XLI) sectors.
As the day wore on enthusiasm waned led primarily by tech (XLK) which never
really joined much of the rally. Gold (GLD) hit new 2012 highs intraday but
also saw gains fade late. The dollar (UUP) was flat as were commodities
overall. Bonds (TLT) were stronger.Volume was modest and breadth per the WSJ
was positive…’ , Where We Are and Where We’re Going (10-1-12) http://albertpeia.com/fedroadtoperdition.htm , Guest
Post: The Global Spring ZeroHedge.com ‘…Whether it was the intention from
the outset or not, what globalization
has created is a very small class of incredibly wealthy people that are
extraordinarily corrupt as a group and also above the law. The
writing is on the wall folks. The global economy is headed back down into
depths that will prove worse than 2008, and this time no amount of money printing and propaganda
will be enough to hold things together. TPTB know this. What
we have today is not Socialism or Capitalism, it is Ponzism. , Australian
Government 'Finds' Extra $338bn Assets (But No Unicorns Yet) In what could easily be a Friday Humor post,
Reuters
reports that the Aussie government's statisticians, taking a page out of
the German's
'creative' accounting book, have found an additional $338bn of assets for
the nation. 'Cheers' all around as the Australian Bureau of Statistics (and Lies) revised household wealth up
by AUD14,380 for every one of the country's 22.6 million people
- as new estimates of unlisted shares and other equity pushed the
nation's total financial assets to AUD3.1tn (compared to an originally reported
AUD2.77tn. As the miners from down-under continue to struggle against a fading
China, this miraculous 'find'
has dropped the ratio of debt to liquid assets from a worrisome 170.1% to a
meager 129.1%. Rumors are circulating that the ABS is now looking
for the ark of the covenant, the philosopher's stone, and Shangri-La. , Guest
Post: Lacy Hunt: "No Increase in Standard of Living Since 1997" , JPMorgan
Sued By NY AG Over "Shit-Breathing" Bear Stearns RMBS Fraud NY Attorney General Eric Schneiderman is
suing JPMorgan over "multiple fraudulent and deceptive acts" in
selling mortgage-backed securities causing losses of over $20bn. The suit appears to be related to
conduct at Bear Stearns and is on the back of the monoline insurer lawsuits,
and whistleblower affidavits such as the following:
In connection with the Bear Stearns
Second Lien Trust 2007-1 (“BSSLT 2007- 1”) securitization, for example, one Bear Stearns
executive asked whether the securitization was a “going out
of business sale” and expressed a desire to “close this
dog.” In another
internal email, the SACO
2006-8 securitization was referred to as a “SACK OF SHIT” and a “shit breather.”
While we hope this would effectuate
some real change, the likelihood is that it will at best result in a $300mm
civil-lawsuit slap-on-the-wrists and brownie points for Schneiderman while
nothing changes. , Presenting
Spain's Economic Collapse In Context
, Guest
Post: China's Broken Growth Model
, Fed's
'Trickle-Down' Policy Lines Pockets Of Mortgage Originators , Venture
C(r)apital: Myth And Reality ‘…Venture
capital (VC) has delivered poor returns for more than a decade. VC returns
haven’t
significantly outperformed the public market since the late 1990s, and, since
1997, less cash has been returned to investors than has been invested in VC. Speculation among industry insiders is that
the VC model is broken…’ , Ben
Bernanke Just Told A Massive Lie About Milton Friedman Ben Bernanke is so desperate to find support
regarding his steal from the poor and give to the 0.01% policies he is now
telling blatant lies about famous, dead economists that can’t refute
what he says. In this case Milton Friedman. In his Q&A today,
The Bernank claimed: BERNANKE:
MILTON FRIEDMAN WOULD HAVE SUPPORTED WHAT FED DOING Well I
suppose it’s easy to make things up about people that can’t claim
otherwise, but he made a big mistake this time. Why? Because Anna
Schwartz, who co-wrote the famous work “A Monetary History of the United States” with
Milton Friedman in 1963, actually came on the record on several occasions
calling out The Bernank and saying there’s no way Friedman would agree. The sad part
about this is it seems Bernanke waited until Schwartz died to really start
spewing the lies. This guy is not only dangerous he is despicable and
increasingly desperate… Don’t take it from me though, back in October 2008 Anna
Schwartz had this to say in the Wall Street Journal.
Submitted by
Tyler
Durden on 10/01/2012
According to a recent CNN poll, 60%
of Americans want go to war with Iran to prevent them from getting
nuclear weapons. This in spite of the fact that the US intelligence community
is fairy unanimous that Iran is not even currently pursuing nuclear weapons. Simultaneously 71% of Americans
— in total
contradiction to the evidence recognised by both the CIA and Mossad that Iran
is not currently even developing a nuclear weapon — believe that Iran
currently has nuclear weapons. Unlike the 71%, I’m not
really convinced by this — if anything, it could be Iranian disinformation to
try and avoid an American or Israeli attack. More importantly, the US and Israeli intelligence community at
large don’t buy it. If they had any real evidence that Iran had a bomb
today, Netanyahu would have been presenting it at the UN instead of drawing red
lines on Wile E. Coyote bomb diagrams.
Submitted
by Tyler Durden on 10/01/2012
Submitted by Tyler
Durden on 10/01/2012
Because the horse and buggy is the new
normal car:
This is what happens when you don't
take advantage of US,
Chinese,
or for that matter Global
channel stuffing. It is, for now, unclear if Mario Draghi's monetization of
1-4 cylinder Fiats is forbidden by Article 123. , Euro-Zone
'Misery' Has Never Been Higher
http://albertpeia.com/catsareamazing.htm
Posted by :
williambanzai7
Post date: 10/01/2012 - 15:53 Cats can now walk on the ceiling...
Cats can now walk on the ceiling
The masses will find this appealing
And with this distraction
Keynes flew into action
To stimulate Kleptocrat stealing
The Limerick King
The morons who venerate Keynes
Have somewhat remarkable brains
Instead of IQ
It's loaded with goo
That runs out whenever it rains
The Limerick King
Benny has seen better days
Gone are his Keynesian ways
After the crash
He only had cash
He's now hoping charity pays
The Limerick King
AP Business
Highlights
...Yahoo Market Update…
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
Infowars.com | Now is the time to put an end to Obama’s
treasonous and tyrannical behavior.
http://albertpeia.com/impeachobama.htm
Wobama’s
Choom Gang Bangin’ { This brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... {
http://albertpeia.com/wobamaschoomgangfantasy.htm }
Drudgereport: Obama: 'Sometimes I Forget' Magnitude of Recession…{
Oh! How conveniently forgetful, though the vast majority of americans don’t
have wobama’s luxury of feigned amnesia suffering from what wobama did and
didn’t do contrary to promises last time around the perpetual campaign trail
littered with his typical jive-talking b***s***! The following headline will
help him remember some of his sordid, pot-clouded high school past! }...
FLASHBACK: Obama's Sordid High School Past...
By Ben Shapiro ‘While the Washington Post has been diligently
digging into relatively innocent high school pranks
by Mitt Romney, they’ve spent the last few years diligently ignoring President
Obama’s far more controversial high school days.Obama, by all accounts, was a
habitual drug user in high school. He tried cocaine, he admits in Dreams
From My Father; he “tried drugs enthusiastically.” The Chicago Tribune
reported back in 2007 that Obama thanked the “Choom Gang” in his high school
yearbook; “chooming” was Hawaiian slang for smoking pot. The Honolulu
Advertiser reported that Obama’s senior portrait “prominently displayed …
A package of ‘Zig-Zag’ rolling papers and a matchbook.” One of Obama’s close
friends was arrested for drug possession during high school.In his memoir,
Obama talked about routinely getting high. “Junkie. Pothead,” he wrote. “That’s
where I’d been headed: the final, fatal role of the young would-be black man.”
But, according to Obama, he only got high because he was contemplating deep
matters: drugs could “push questions of who I was out of my mind.” Obama told
students in 2007 that this activity constituted “goofing off” and “wasting
time”:"I will confess to you that I was kind of a goof off in high school
as my mom reminded me," Obama said. "I went to high school in
Cracks
in the Washington Post story on Romney’s ‘pranks’ emerge
Correction
Request: Washington Post Uses Falsehood in Romney Hit Piece
Media
Downplays Obama's Past, Tries to Define Romney with Teen Prank
If we're going to delve deep into a candidate's past, let's delve deep into a
candidate's past. Here's Obama in his own words admitting to physically shoving
a little girl named Coretta. Yes, it was at this moment that the first
shot in the War on Women was fired.
http://albertpeia.com/obamashovesgirl.png
No doubt that after expending all that energy
bullying an innocent little girl, young Obama readied himself for round two by
eating a Golden Retriever. More on this breaking story here.If
you're wondering what the rules are regarding a candidate's past; how far back
we're allowed to go in an attempt to define them -- the answer is simple: the
corrupt media will let us know.
Obama WILL NOT pursue gay marriage as part of party
platform...
STONE: 'Playing a
cruel and cynical game'...
Unites Republicans?
New Black Panther Niggers Plan Newspaper Cover With
Zimmerman In Noose { and civilized people everywhere should respond with
niggers in nooses and contributions to the Klu Klux Klan! } ...
LOONEY CLOONEYLAND: BIG CAMPAIGN BOXOFFICE FOR NIGGERO
– Meanwhile, looney clooneyland ain’t doin’ so well with the niggero model –
see next headline! ...
Failed Wobama model illustrated: 16 Reasons To Move Away From
Postal Service loses $3.2b in first quarter...
78% of
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{ some prior links of current interest }