Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com ‘JOBLESS CLAIMS SNAFU 10-11-12 You can
almost hear Jack Welch’s “I told you so” after Thursday’s Jobless Claims data
was released. The data (339K vs 370K expected & prior, as usual, revised
higher to 369K from 370K) was later explained by the BLS as a problem with “one
large state didn’t report additional quarterly figures as expected, accounting
for a substantial part of the decrease”. Well that will do it. So an early
rally based on incomplete information was undone as the day wore on. So the result was wasted buying power from my view. Other economic data
included The U.S. Trade Deficit ($-44.2B vs $-42.5B) and the Bloomberg Consumer
Comfort Index fell (-38.5 vs -36.5). Newly appointed Fed Governor Jeremy Stein spoke today and
the bottom line was this quote regarding the effects of QE: “…giving a
significant boost to stock prices.” I think that sums things up
neatly. The dollar (UUP) was slightly weaker and gold (GLD) slightly
higher. Commodities (DBC) and oil (USO) were also higher. Bonds rallied as
stocks fell into the close. Stocks were led lower once again by disappointment
in tech (XLK) and an appeals court decision to stop a ban on Samsung selling
its phones to benefit Apple (AAPL). The latter continues to suffer
losses. Consumer Discretionary (XLY) and Homebuilders (ITB) were
also weak…’ , Marketwatch: Florida poll shows Romney leading Obama by 7 points ,
FOX: Stocks:
More decay is on the way In times like these, a medium-term speculator's
prey is usually found in the more-speculative climes of the market, i.e. Nasdaq
titles. , Poll:
Romney leads Obama in Florida by 7 points
Obama's
Lucky Charms: A Hindu God In His Pocket, A Masonic Emblem, And A Ring That Says
"There Is No God Except Allah"
http://albertpeia.com/ohowweird.htm Why do our politicians have to be so
weird? { Why? Because in, ie., O’s case, he is weird. Homo/hetero,
Muslim/Hindu/Christian, for Wall Street/against Wall Street, prosecute/no
prosecute, war/no war, say one thing/do another, truth/no truth, etc.. wobama’s
gotten’ by on b***s*** and ‘special consideration’ alone, never having done
anything of substance in his entire life. Indeed, even his so-called
‘auto-biographies’ are works of what appear to be ‘choom-gang’ induced
fantasies which reveal a psychogenic/dissociative amnesia that works well in
the continuing ‘narrative’ devoid of fact on his ‘more b*** s*** campaign
trail’ littered with the cowpies of stark reality. People owe themselves and
their children more than this grifter’s con which in numbers measures more than
the increased deficits of all the presidents since President General Eisenhower
combined to obfuscate his unequivocal failure. Drudgereport:
UPDATE: Obama gives himself
an 'incomplete' grade... {
Wow! The audacity! The unmitigated gall! This from the record holder for fundraisers,
151 and counting. Then there’s the 100 plus rounds of golf in addition to being
famously over-vacationed while in office. Did wobama expect that these things
would in choom fashion magically come to fruition while he was ‘workin on his
tan’, golf swing, or shootin’ hoops on the taxpayer dime? http://albertpeia.com/wobamaschoomgangfantasy.htm
Dave’s Daily: http://www.etfdigest.com ‘JOBLESS CLAIMS SNAFU 10-11-12 You can
almost hear Jack Welch’s “I told you so” after Thursday’s Jobless Claims data
was released…’
Jack
Welch: I Was Right About That Strange Jobs Report
WSJ |
The 7.8% unemployment figure released by the BLS last week is downright
implausible.
- The US Labor market noted that one
state accounted for the entire drop.
- It is the first week of the quarter which historically adds volatility,
especially with expectations of a seasonal adjustment.
- Extended benefits rose (+13,802) in the latest week due to the state of NY
returning to the program starting Sept 9th.
Update details:
- Although initial upside was seen in
US stock futures, most of the move has since been pared as attention paid to
these factors.
Al Peia • (posted to
Yahoo News) What large
state? Nobody seems to care. That state's going to pay for the
scam/fraud/corruption. What state?!
A
Dash Of Hair Transplant And Just Add Laughter ZeroHedge.com We always
said that the presidential race in a country in which 40% of spending
on wars, entitlements, interest on said debt, etc. is funded
by debt (purchased mostly by foreigners and monetized by the Fed), is moot,
and is merely one big tragicomedy designed to evoke nothing but laughter
(especially since it is the creditors who call the shots). Today, we see that
at least Joe Biden got the memo. , We Are On
The Road To Serfdom We are now five years into the Great Fiat
Money Endgame and our freedom is increasingly under attack from the state,
liberty’s eternal enemy. It is true that by any realistic measure most states
today are heading for bankruptcy. But it would be wrong to assume that ‘austerity’ policies
must now lead to a diminishing of government influence and a shrinking of state
power. The opposite is true: the state asserts itself more forcefully in the
economy, and the political class feels licensed by the crisis to abandon
whatever restraint it may have adhered to in the past. Ever more prices in financial markets are
manipulated by the central banks, either directly or indirectly; and through
legislation, regulation, and taxation the state takes more control of the
employment of scarce means. An anti-wealth rhetoric is seeping
back into political discourse everywhere and is setting the stage for more
confiscation of wealth and income in the future. This will end badly. , Debate
Post-Mortem: Wreckin' Raddatz, Laughin' Angry-Boy Biden, And Vice President Ryan , Visualizing
America's Education , The
Forecasting Folly Of Equity Valuations And Earnings Growth , Fed's
"Other Assets" Hit All Time High Of $205 Billion , Guest
Post: Trade Deficit - Recession Risks Increase , Do
20% Of Firms Cheat On Earnings? ‘…To wit, Bloomberg notes a recent paper (below)
that finds 20% of CFOs will
"manage earnings to misrepresent economic performance"
with 93.5% admitting it is to influence the stock price. 'Red flag's
include EPS inconsistent with cash-flows, unusual accruals, or an industry
outlier. Amid pressure to maintain stock prices (and keep a career going),
60% of earnings 'management'
is to increase income and of course 66% of CFOs hope for fewer
accounting rules going forward. , Goldman's
Cohn On The Fed's One Way Con While
stating the somewhat obvious - that the Fed's actions will cause 'pain' when they (try to) stop QE
- when it comes from a high-ranking officer of the establishment elite (as
opposed to a tin-foil-hat-wearing, BLS-exposing, HFT-undermining, fringe blog)
such as Goldman Sachs' President Gary Cohn, perhaps more mainstream will begin
to question the one-way path we are on. Cohn's interview on Bloomberg TV ranged
from his reading habits (Greg Smith's tell-all) to the world's central bank
printfest and how "we
will have to go through the pains of stopping QE".. , Cashin
Remembers Germany's Hyperinflation Birthday , The
Collapse Continues: Greek Unemployment Rises For 35th Consecutive Month, Passes
25% , Charting
The 'Housing Recovery' Subsidy: Foreclosures Slide To Five Year Lows A
month ago, when RealtyTrac posted their latest US foreclosure numbers for the
month of August, we presented what we called was the "Foreclosure
Stuffing" thesis, explaining the explicit subsidy by the banks for the
housing market, whereby the entire foreclosure process has now ground to a
halt, and in doing so removing millions in inventory flow from the distressed
end market, forcing limited buyers to chase what supply there is, and in the
process boosting prices of existing inventory higher. In other words a
traditional inventory removal-based subsidy. It is therefore not surprising
that today RealtyTrac reported the latest foreclosure data, and lo and behold,
just as we expected, the
great foreclosure collapse has taken another leg lower, with the total number
of foreclosures for the month of September sliding to 180.4K, a decrease of 7
percent from the previous month and down 16 percent from September 2011, and
the lowest in five years!
Submitted
by Tyler Durden on 10/11/2012
With government bond markets
increasingly manipulated directly via central-bank intervention - and becoming
increasingly illiquid - the odd situation we find ourselves in once again is
that CDS markets perhaps provide a 'cleaner' picture of where credit risk is
actually being traded between market participants (hedgers or speculators). To
wit, Bloomberg's ever-insightful Michael McDonough has noticed a significant
divergence between market-implied perceptions of risk (CDS) and
ratings-agencies perceptions among several nations. Most notably France and Italy (with Belgium
close behind) appear considerably 'over-rated'. Italy's implied
rating is equivalent to BB+ at S&P - well below its average rating of BBB+
and France's implied rating of A is around four notches below its composite
rating. Spain also appears set for more pain as its market price implies a
sub-investment grade rating is imminent.
Submitted
by Tyler Durden on 10/11/2012
This is just getting stupid. After
expectations of a rebound in initial claims from 367K last week (naturally
revised higher to 369K), to 370K (with the lowest of all sellside expectations
at 355K), the past week mysteriously, yet so very unsurprisingly in the
aftermath of the fudged BLS unemployment number, saw claims tumble to a number
that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or
339K. Ironically, not even the Labor Department is defending it: it said that
"one large state didn't
report some quarterly figures." Great, but what was
reported was a headline grabbing number that is just stunning for reelection
purposes. This was the lowest number since 2008. The only point to have this
print? For 2-3 bulletin talking points at the Vice Presidential debate tonight.
Everything else is now noise. It is also sad that the US "economy"
has devolved to such trivial data fudging on a week by week basis, which makes
even the Chinese Department of Truth appear amateurish by comparison. Needless
to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the
past week but who's counting. Finally, what is the reason for ongoing QEternity
if the employment situation is now back to normal. Finally, in completely
ignored news, because who needs global trade when you have toner cartridge, and
generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on
expectations of a deterioration to $44.0 billion. Then again nobody talks about
the US trade deficit during presidential debates so all good here.
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 }
