Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com ‘OCTOBER DATA REMAINS QUESTIONED 10-12-12 It’s hard to
accept a lot of the data being released lately. Once trust in the data is lost
investors will sour on releases for a longer period than you might expect. This
began last week Friday with the release of the employment report. Yes, Jack
Welch jumped on it as not credible and political. He was dismissed as an old
crank. But the data still remained counterintuitive to most. Then came Jobless
Claims Thursday recklessly released by the Bureau of Labor Statistics (BLS)
when it was incomplete. Away from the BLS Friday was the U of Michigan Consumer
Sentiment report which showed a spectacular and historical beat of estimates
(83.1 vs 78.3 expected & prior 78.3). This is also weird since the number
one thing commonly affecting consumers are energy prices which are historically
high. It might be that households think current WH occupants will change in the
future. Is that a reasonable conclusion? It’s the only thing I can think of frankly.Friday the BLS was
once again in the picture releasing the Producer Price Index which was still
higher (1.1% vs .8% expected & prior 1.7%). But wait, what the BLS and
officialdom wants you to pay attention to are the so-called “core” rates. For this data point
ex-food and energy there was no inflation (0% vs .2% expected & prior .2%).
So headline writers (MarketWatch: “PPI Confirms Fed’s No-Inflation View”) and Fed governors can tell people there is no inflation
and what exists is dismissed as “transitory”. Monday will feature the
Consumer Price Index including the headline number and “core” rate again. Let’s remember these data
points have been massaged and altered over since 1980 several times to get the
data to a point where entitlement payments by the government to recipients are
more manageable. This is quite silly and there is a lot of trickery in the
entire process. For example, while TVs, autos and Nike Lebron specials
may cost more today, the BLS asserts you’re getting more for your money ergo no inflation. So when
you growl over prices at the supermarket or gas pump do you feel thankful that
the “core” rate is deemed too
volatile to be credible even though you consume this stuff every day? I thought
not.J.P. Morgan (JPM) delivered good earnings that beat expectations ($1.40 vs
$1.21) and Jamie Dimon asserted to all that the housing market has now “turned the corner”. Wells Fargo (WFC)
followed with earnings ($.88 vs $.87 estimated) after adjustments. The bottom
line is both stocks fell on the day.Stocks just can’t seem to keep the bullish
trend going as October unfolds. Most indexes were down 2-3% on the week posting
their worst week in 5 months. Concerns about Spain once again surfaced about if
and when a bailout would be requested also weighed on stock prices. The other
day some had wondered if Spain would “opt-out” of the euro
and move back to the peseta which sounds seductive but actually isn’t. Who would then buy their
bonds? Is there a lack of trust in government data building? Perhaps. It may
also be due to the previous narrative that Obama would be reelected which
seemed bullish for some reason. Now a possible Romney election means more
uncertainty given bulls knew what they had with him. With either person winning
the so-called “fiscal cliff” looms. And, I admit this
is all speculative on my part.The dollar (UUP) was slightly weaker but gold
(GLD) was much weaker. As indicated stocks couldn’t get out of their own way
and were led lower by banks (KBE), financials (XLF), homebuilders (ITB),
semiconductors (SMH) and miners (GDX). Bonds (IEF) were firm and commodities
(DBC) overall were weaker. Volume still remains ultra-light and breadth per the WSJ was
negative…’ , Bear
market may begin Tuesday { We are in a secular bear market (foolishly)
obfuscated by fiat paper currency creation/printing! } , Did Bernanke Bluff About QE3? http://albertpeia.com/bernankebluff.htm , Visualizing
America's Economic Freedom Plunge
ZeroHedge.com As we
noted last week, the US, long considered the standard bearer for economic
freedom among large industrial nations, has experienced a rather remarkable
plunge in economic freedom over the last decade. This excellent infographic
summarizes what factors drove us here, which countries are on the rise, and why
we are more like Venezuela, etc., than many would like to believe. , Guest
Post: Opening Pandora’s Box: If
Israel Strikes Iran, What About Hezbollah? , Mike
Krieger Topples The Last Domino With the election right around the corner,
the chickens are going to come home to roost. Our ability
to print our own currency and buy all the commodities we want with it is the
exorbitant privilege that allowed us to export most of the problems within the
monetary system elsewhere first. As Nixon’s Treasury Secretary John Connelly said when
confronted by a group of European Finance Ministers: “it’s our
currency, but your problem.” At the time he was correct, as we were at the
very beginning of the fiat dollar standard. 41 years later the system is
in its final days and our currency is about to become our problem as well. There were always going to be massive consequences
to keeping this ponzi alive. The main point here is one I was
hammering on in my last piece The Global
Spring. You can only push people so far into hardship before
things snap. They snapped in North Africa. They snapped in
Southern Europe. They snapped in China. They are about to snap
here. Oh, and one last thing. What do you think all of this signals for corporate margins? , Retirement:
The Scary Numbers Behind The Soothing Lies , Guest
Post: About That "No Recession" Call The usual
definition of a recession is GDP goes negative. { If real inflation numbers are
used, recession and contraction are already here! ( Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events .. “the new recession has started.”… Over the past 33 years, we have called the start of every
recession..Currently, the GDP deflator is 1.8%, which hardly reflects the true
rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation..is now more than 11%.
Using that to adjust GDP for inflation, would show that the economy is now in a
very sharp contraction…’) } But this isn't necessarily true. Notice
that GDP never went below the zero line in the 2001 recession. Dipping close to
zero was good enough. The more interesting line is our composite of economic
activity. We can pose the
"recession" question in this way: if real investment,
net earnings after debt service and M2 money are all puking, how can the
economy be "growing slowly but steadily"? , NASDAQ
Drops Most In 5 Months As Leaders Languish
, Kaminsky
On "Hypocrite" Biden: "I'd Have Punched Him In The Face" , S&P
Futures Break 50DMA ‘… From the day before Draghi's spike, the VWAP
(volume-weighted average price) for S&P 500 futures is 1444.5 - so on
average in aggregate buyers are now losers...’
, Charts
Of The Day: Why America Needs To Embrace The Fiscal Cliff Instead Of Kicking
The Can Once Again , Santelli
And Shiller On Housing, Animal-less Spirits, And Bernanke's Impotence "We've
seen rallies that fizzle before" is why Bob "I don't see the reason to call this a major turning
point" Shiller is not calling the bottom in the
housing market as he notes that while momentum helps, "right now it is
partly seasonal" in an excellent reality-based discussion with CNBC's
Rick Santelli. From the rise and fall of Greenspan's nationwide housing market
correlations (not convinced this is anything but idiosyncratic) to the fact
that a 'bottom' does not mean a recovery is coming and his expectations of
longer-to-wait; the esteemed gentleman, dismissing concerns over rising
interest rates and house prices - and pointing out how mortgage rates do not
help forecast a house price recovery, makes a vital point: "Why the urgency" to buy a house?
Despite the 'money for nothing', Shiller and Santelli explain there is "no way for Bernanke to change our
'animal spirits'" and his ZIRP is in fact psychologically damaging not
invigorating. Absolute must watch!
Submitted by Tyler
Durden on 10/12/2012
http://albertpeia.com/allfornaught.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 }
