Business Summary Links By Day
Warnings
That A Massive Stock Market Crash Is Imminent http://albertpeia.com/massivestockmarketcrashimminent.htm , Dave’s
Daily: http://www.etfdigest.com ‘PATIENCE IS THE OPERATIVE WORD 10-3-12 You really have to be careful now. Bernanke’s high wire act has no
guarantee of success. At the same time it’s worked before to drive up stock prices. This seems to be
what his main objective is and confirmed as it were by Bloomberg. But how many times can you go to the
well with this stuff? That’s the
question. Stocks are trying to rise and are dueling with poor economic data
from China and the eurozone not to mention what should be poor upcoming
earnings news.Hewlett-Packard (HPQ) warned today earnings as the overall PC
business is in trouble with weak demand.Economic data from the U.S. included
ISM Services data (55.1 vs 53.5 expected & prior 53.7). Comically the
person responsible (Nieves) at ISM said “hard to pinpoint the reason for the gain in the index.” Embedded within the data
were higher prices paid and the employment component weakened (51.5 vs prior
53.8). The usually unreliable ADP Employment Report rose (162K vs 140K expected
& prior revised lower to 189K vs 201K). Investors found the data overall
less than thrilling but let’s face it QE3
rules for now.Thursday is Jobless Claims again and then Friday’s all-important Employment
Report. Also we’ll see what
impact if any the first presidential debate provided.
In commodity
markets oil (USO) plunged, not so much on inventory issues as was feared, but
more about future demand prospects. (Crude Oil Inventories -.5M BBLs vs -2.4M BBLs
previously) doesn’t mean there’s a build in inventories
particularly.In other news it was reported that Chelsea Clinton has left her job on Wall
Street { Difficult to imagine with bill and hill her endowing (genetically)
parents, but I personally think she is a good person and couldn’t possibly imagine wall
street as a suitable place for her; even to get ‘her feet wet’. } to search for more meaning in her no doubt
wretched life. Me? I’m more
interested in Monica Lewinsky’s forthcoming
tell all. Yeah, I’m feeling
like a rascal today.Stocks were led higher by Biotech (IBB) where earnings aren’t the driving force,
transportation (IYT) with energy lower, financials (XLF) and healthcare which
may benefit from an Obama win. Bonds (TLT) were flat while the dollar (UUP) was
slightly higher. Commodities (DBC) tumbled with weak energy markets but gold
(GLD) remained firm and near resistance levels. Given what’s ahead and ordinary market
action this will be another short post.Volume remained quite light as investors
seem tense before employment data, debate and then earnings. Breadth per the
WSJ was again unremarkable…’ , Fed's Latest Easing Has Little Impact -- Out of
Bullets (As Predicted By Many, including Graham Summers, all of whom among
others assert the severe inflationary impact of the misguided over-printing/creating/fiat currency and ‘weimar
effect’)?
Marketwatch Headlines for
10-3 http://albertpeia.com/marketwatchheads10312.htm ,
Obama
Contract Slides On InTrade
ZeroHedge.com The first debate
is still in progress, but the habitual gamblers who have a compulsion to bet
all the time 24/7 on event outcomes have already spoken via their favorite
venue InTrade, and the initial reaction is not favorable for the incumbent…’ , First
Obama vs Romney Presidential Debate - Live Webcast , ‘…the first of many presidential debates
will begin, whose ultimate goal will be to validate in the minds of those
47% or so (aka the very loud minority) who intend to vote for the next
president, that they have made the right choice. They haven't (for the reason,
or rather 16,171,037,343,409 reasons, see
here: neither candidate {now} can do anything at all to prevent
the debt crisis iceberg that America is careening into full speed, and which
nobody {I did!} could have foreseen). ..
, 4
Years After TARP - Winners, Losers, Bubbles, And Troubles , Fed
Confused Reality Doesn't Conform To Its Economic Models, Shocked Its Models
Predict "Explosive Inflation"
, Complete
Fed Failure: Retail Investors Pull Out Most From Domestic Equity Funds In Two
Months Just as we had suspected for
months, Bernanke's attempt to herd cats and to drive retail investors into
equities is now a complete and unmitigated catastrophe. According to just released ICI data,
in the week ended September 26, the second full week after the announcement of QE3, retail
investors pulled
$5.1 billion from domestic equity funds, following a massive $4.8
billion outflow the week prior, and the most in 2 months. This is also the
sixth largest weekly outflow in 2012 to date, a year in which over $100 billion
has already been pulled from equity mutual funds. And since we now know that
Bernanke's only motive for QE3 is to stimulate a wealth effect and to push
everyone into the broken casino, where such trading farces as Kraft's flash
smash today, as Knight Capital's implosion a month ago, and FaceBook's IPO, not
to mention the virtually daily Flash Crash in at least one name, have killed
every last shred of faith in equities, it can be safely said that QE3 has
failed three short weeks after being launched. As to where the money did go:
why taxable bonds of course - not even the "dumb money" is that dumb
to go where the Fed tells it to, and instead merely does what the Fed does: it keeps on frontrunning the
Fed's monetization of the US deficit, which is now going on for the 3rd year
in a row… , NY
Mass Transit Fares Will Rise 35% From 2007 To 2015, And Surge From There , David
Rosenberg: "RIP Wealth Effect"
So the Fed is pinning its hopes on stimulating the economy via the
wealth effect again, as it did when it revived the post-tech-wreck asset bubble
in housing and credit in that now infamous 2003-07 period of radical excess.
But here's the rub. While there is a wealth effect on spending, the correlation
going back to 1952 is only 57%. But the correlation between spending and
after-tax personal incomes is more like 75%. The impact is leagues apart. And that is the problem here, as
we saw real disposable personal income decline 0.3% in August for the largest
setback of the year. The QE2 trend of 1.7% is about half the 3.2% trend
that was in place at the time of 0E2. Not only that, but the personal savings
rate is too low to kick-start spending, even if the Fed is successful in
generating significant asset price inflation. The savings rate now is at a mere
3.7%, whereas it was 6% at the time of QE1 back in 2009 and over 5% at the time
of QE2 2010 — in other words, there is less pent-up demand right
now and a much greater need to rebuild rather than draw down the personal
savings rate. , About
That Money On The Sidelines: It's "All In" Despite being told again and again by
any-and-every commission-taker and newsletter-vendor that sentiment is
terrible, managers will need to high-beta performance-chase, and the
'money-on-the-sidelines' is just around the corner; it appears that reality
is different. The Net Long Interest in S&P 500 Futures (the most liquid
equity trading vehicle in the world) is now at its highest since December 2008. The last
time investors were this 'net long', the S&P 500 fell over 25% in the next
two months. , Kyle
Bass On The Federal Budget: "I Don't Know How To Fix This" Hayman Capital's Kyle Bass is back and
cutting through the caustic bullshit that surrounds every waking moment in this
kick-the-can world. Dispelling the myth of our 'deleveraging' virtue, with global debt having grown from
$80tn to over $200tn in the last ten years alone (a 10.7% CAGR) and the
frightening reality of central bank balance sheet growth of 16% per annum, Bass
concludes (rightly) that "you can't do this for very long" as
governments infinitely leverage and central banks have begun the endgame of
open-ended money-printing. Addressing the question of timing, Bass notes that
while Europe and Japan are 'perceived' to be 'staying together' there are in
fact devastating losses occurring (ask Greek bond-holders) and he firmly
believes that "Germany will never go joint-and-several with the rest of
Europe." The world sits at a place it has never been before in peace-time - as
far as global debt balances and deficits - and that is why the global investing
playbook is so hard. He goes on to address hyper-levered economies,
delayed inflationary outcomes, and worries that the cost-push (lower GDP,
higher CPI) prints are just beginning in Europe. As a fiduciary, and something
all investors should consider, Bass states "Given what we see coming,
our job is not to lose money!"
, Does
Stimulus Spending Work? As we
patiently await tonight's much-anticipated debate - and its zinger-ful diatribe
of tax, spend, save, borrow, jobs, jobs, jobs word bingo - we thought this
perfectly succinct clip dismissing the myth of how government stimulus leads to
economic growth was particularly pertinent. Professor Antony Davies provides
evidence, via empirical data from 1955, that there is no connection between federal
spending and economic improvement - and as we have repeatedly noted - it
merely
adds to government debt. From the 'magic' of the Keynesian multiplier to the
eyes-wide-shut view of spending creating jobs while ignoring the
taxing-borrowing-printing nature of that spending. Government doesn't create jobs, it
'moves' jobs; as three years of stimulus spending has left us with ~8%
unemployment and $4.6tn more debt.
, 'Mugabenomics'
From Zimbabwe To The UK - "Gold Is Good" In a post entitled 'Mugabenomics: Inflation
in UK Higher than in Zimbabwe,' Guido Fawkes points out how the Liberal
Democrats Vince Cable once warned that Quantitative Easing (QE) was “Mugabenomics.”, IMF
Brings Good Tidings: Prepare For Another Lost Decade "It will surely take at least a
decade... for the world economy to get back to decent shape" is the somewhat shockingly honest (and at
the same time hopeful that ECOpocalypse does not happen before) outlook that
the IMF's Olivier Blanchard offers in a recent interview with Hungary's Portfolio.ru
via Reuters.
, Guest
Post: It's Not America Anymore Those who rally behind the modern concept of America
rally behind a façade — an empty
shell devoid of the heart and soul that gave life to this once great
experiment. It is time for us to decide what kind of Americans we wish to be:
the deluded rah-rah puppets of a desiccated totalitarian society, or the
watchmen on the wall. Will we be the keepers and protectors of the vital core of
the American identity, or will we be fly-by-night consumers of the
flavor-of-the-day political carnival, eating every tainted sample from the
elitist platter in an insane attempt to replace our free heritage with a sleek,
sexy, rehashed form of top-down feudalism?
Ultraluxury
NY Real Estate Market Cracking As Legendary 740 Park Duplex Sells 45% Below
Original Asking Price Even as the media desperately tries to whip everyone into a
buying frenzy in an attempt to rekindle the second housing bubble, the
marginal, and less than pretty truth, is finally starting to emerge. Over the
weekend we presented the first major red flag about the state of the housing
market - in this case commercial - when we exposed that "New
York's Ultraluxury Office Vacancy Rate Jumps To Two Year High As Financial
Firms Brace For Impact." What is left unsaid here is that if demand
for rents is low, then, well, demand for rents is low: hardly the stuff housing
market recoveries are made of. Today, on the residential side, CNBC's Diana
Olick adds to this bleak picture with "Apartment Demand Ebbs as ‘Avalanche’ of New Units Open." In other
words rental demand for both commercial and resi properties is imploding. But
at least there is always owning. Well, no. As we have shown,
the foreclosure, aka distressed, market is dead, courtesy of the complete
collapse in the foreclosure pipeline as banks are effectively subsidizing the
upper end of the housing market by keeping all the low end inventory on their
books (who doesn't love the smell of $1.6 trillion in fungible excess reserves
to plug capital holes in the morning. It smells like crony capitalism). But at
least the ultra luxury, aka money laundering market was chugging along at a
healthy pace. After all there are billions in freefloating dollars that need to
be grounded in the US, courtesy of the NAR which is always happy to look the
other way, another issue we discussed
this weekend. Now even that market appears to be cracking, following the purchase of a
duplex in New York's most iconic property: 740 Park, by, who else but a former
Goldman partner, at a whopping 45% off the original asking price.
http://albertpeia.com/christianspatriotsobamasterrorists.htm
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 }