Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com ‘BRING OUT THE BEARS 10-9-12 … successive reports from the World Bank (Monday) and IMF
(Tuesday) that global economic growth was going to decline. This isn’t really news now is it?
Just about every forecasting organization has stated this as a given. But in
the absence of other news investors needed an excuse to do some selling.I’ll bet you’re like most people and don’t really understand the
distinction between these two entities. Per the IMF is this brief description:“The World Bank and the IMF
remain distinct. The fundamental difference is this: the Bank is primarily a
development institution; the IMF is a cooperative institution that seeks to
maintain an orderly system of payments and receipts between nations. Each has a
different purpose, a distinct structure, receives its funding from different
sources, assists different categories of members, and strives to achieve
distinct goals through methods peculiar to itself.”Got that? They have
occupied the same building, held joint conferences, share a common library
exchange economic data, present joint seminars, daily hold informal meetings
and may send out joint missions to member countries. They are funded by a
variety of member countries (you and me in particular) and often make money on
lending. Since their lending activity dried-up in 2009 they sold 212 tons of
gold (with the consent on the U.S. Congress) to other central banks to keep the
organization funded and everyone employed. (A good deal? Not!) In other words
they’re similar to the UN formed
during the post WWII era and just about as effective. They probably have
outlived their usefulness but once you get these organizations started it’s an exercise in futility
to eliminate them. Why do you think so many luminaries from around the globe
want top jobs there? They’re lucrative
and terrific benefits including jets and 5 star hotels.Meanwhile in other news
the U.S. government has sued Wells Fargo (WFC) claiming fraud in mortgage
underwriting and falsely certifying FHA loans. That was felt in Omaha and on
Wall Street. I guess Buffett didn’t get a heads-up from the White House. Oil prices (USO) rallied
even as the dollar (UUP) climbed which is unusual. Perhaps these are tensions
being exhibited from the Middle East. Prior to the first Gulf War oil prices
were climbing out of a long trading range a few weeks before the Iraq invasion
of Kuwait. Obviously some players knew what was about to happen in advance. Let’s see what’s up now. Aside from oil
most commodity prices were weaker (DBB) & (GLD) while the heavily weighted
energy sector (DBC) was higher. Also a story is making the rounds that Spain could or even should just opt out of the euro in
lieu of accepting harsh conditions from the troika.Stocks overall sank led by
technology (QQQ) & (XLK) once again as Apple (AAPL) continued its slide but
Intel (INTC) and semi’s overall
(SOXX) led the way down. Also much weaker were homebuilders (ITB) which needed
some consolidation. The confusion in markets threw-off other relationships such
as weaker bonds and weaker stocks. After the close Alcoa (AA) released earnings
which are always highly anticipated but have more complexity and “adjustments” than even the BLS can
conjure up. The report just released showed a loss of 13 cents vs previous 15
cent profit. Revenues were lower at $5.83 billion vs $6.42 billion prior but
beat estimates of $5.56 billion. Adjusted earnings 3 cents vs 0 cents expected.
Oh the joy! Volume overall was much heavier than on recent days but
still light overall. Breadth per the WSJ was negative...’, 28
Good Questions That The Mainstream Media Should Be Asking http://albertpeia.com/28questionsmainstreammediashouldbeasking.htm , S&P: Q3 downgrades far outpace upgrades Marketwatch , Wall Street should shrink , pay smaller bonuses Marketwatch
, U.S. stocks finish lower on earnings anxiety, IMF
Marketwatch , Uncle
Sam Prepares To Unleash Up To 30,000 Drones Over America For "Public
Safety" Zerohedge.com , The
ECB-Driven Toxic Debt Loop At The Heart Of Europe's Misery , Guest
Post: The Unstimulus If your predictions are wildly out-of-whack
with reality, you need to change your approach. Jared Bernstein
and Christy Romer Administration predictions have been an unmitigated disaster.
Not only did the real figures not match up to the advertised ones, but they are
also much worse than the baseline expectations. Romer and Bernstein appear to
have both severely under-estimated the depth of the crisis, and over-estimated
the effectiveness of the stimulus package. Obama might talk about spreading the wealth around, but
the aggregate effect of the policies pursued during his administration have
squarely benefited large corporations and the
financial sector, and not the middle class or small business. Is reinflating financial bubbles and
pumping up corporate profits Obama’s idea of recovery? The money
isn’t trickling
down, and small businesses and the middle class are more in debt
than they were before the crisis started.
, European
Banks Need To Sell Up $4.5 Trillion In Assets In Next 14 Months, IMF Warns While yesterday it was the sovereigns who
suffered the wrath of the IMF's wholesale growth outlook downgrade (unbeknownst
to Christine Lagarde), today it is the turn of the financial sector (which
is increasingly being blurred with the former in a world in which central banks
are used to both backstop bank liabilities and fund endless public deficits,
unafraid of the consequences in a closed loop fiat world in which defection is,
so far, impossible) to be greeted by a cold dose of reality emanating from the
IMF's "Global
Financial Stability Report" especially as pertains to Europe's
insolvent banking system. The most notable finding of said report is the
admission that the IMF was only kidding when it said six months ago, in April
of this year, that the worst case outlook now has European banks deleveraging
to the tune of $3.8 trillion through the end of 2013, or over the next 14
months: now this number is 18% higher, or a gargantuan $4.5 trillion (12% of
bank assets). This is how much debt Eurobanks will need to shed in a "weak
policies" case in which Europe continues to delay implementing fiscal
reform, aka austerity, as per Figure 2.14. Even the baseline (and this being
the IMF it means it has zero chance of happening) scenario is not much better,
at a revised $2.8 (7.3%) trillion in deleveraging. The reason for the increase
is due to "lower
expected earnings, higher losses linked to worsened economic conditions, and
greater funding pressures on banks." , Guest
Post: Are Businesses Quietly Preparing For A Financial Apocalypse? US corporations are sitting on more cash
than at any point since World War II. That's without including banks.
We're only talking about nonfinancial corporations – the ones
that sell goods and services and make the economy go. Those businesses hold $1.4
trillion. As investors,
we can infer quite a bit from corporations' inability (or unwillingness) to
deploy their cash. For one, it indicates that business
have assumed a very defensive stance. Cash, of course, is a buffer against
uncertainty - the uncertainty that business slows for any reason. But $1.4
trillion? That tells us that businesses are not just a little jittery
about the future. They're
prepared for an apocalypse. , Bill
Gross' Advice To Asset Managers: "Turn Lead To Gold" At least he did not say Tungsten...Gross: Stock and bond managers today must be alchemists:
turn lead into gold. NOT likely. Too much lead (bubbled assets). , Charts
Of The Day: 111 Years Of Federal Tax And Spending , Everything
You Need To Know About Resolving The Fiscal Cliff But Were Afraid To Ask , Global
Growth Reality Hits As Cummins Cuts Guidance And 1500 Jobs , Jack
Welch Terminates Contract With Reuters, Fortune In Aftermath Of Infamous Tweet , Guest
Post: NFIB - Small Businesses Don't Agree With BLS Since the release of the most recent BLS
Employment Situation Report, which showed an astounding drop in the
unemployment rate, we have spent a good bit of time dissecting the release and
discussing why the real unemployment rate is really between 17% and 22%
depending on how you calculate it. (See Here
and Here)
However, today's
release of the September NFIB Small Business Survey shows the extent to which
the current BLS employment calculation method may have detached from reality.
No matter how you look at the data there is a clear disconnect between the BLS
report and economic realities. From the NFIB's point view it is "economic
uncertainty" that weighs on business owners and keeps them on the
defensive. The actions by the Federal Reserve to buy bonds and inject
liquidity into the financial system does not solve the problem of "poor
sales", reduce regulations that strangle growth or solve the "fiscal
cliff" issues that threaten business profitability by the end of the
year.
Mysterious
Algorithm Was 4% of Trading Activity Last Week
CNBC | A single
mysterious computer program that placed orders — and then subsequently canceled them — made up 4
percent of all quote traffic in the U.S. stock market last week.
Goldman
Issues Strong Sell On Obama As Firm Refuses To Vote With Its Wallet
Zero
Hedge | Goldman Sachs money moves away from virtually
anointing Obama in 2008 to shunning him.
From
Zero Interest Rate To Zero Retirement: How The Fed Doomed Elderly Americans To
Endless Work
zerohedge.com | Fed is
spinning its wheels by sticking to the old model of trying to stimulate growth.
IMF
warns global economic slowdown deepens, prods U.S., Europe
Reuters
| The IMF said the global economic slowdown is worsening.
A
Second Greek Man On ‘The Lagarde List’ Has Been Found Dead
Business
Insider | Since Friday, two men on the list have turned up dead in apparent
suicides.
Food
is the New Oil and Land the New Gold: Lester Brown
Daily
Ticker | The United Nations food agency reports that food prices are rising
again.
Medicaid Fraud in the
Billions
New
American | The amount, just in New York, is estimated by Issa’s committee
to be in excess of $15 billion, equivalent to $1.9 million per patient per
year!
http://albertpeia.com/19numbersusturningfromchristianity.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
_______________________________________
{ some prior links of current
interest }
