Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com ‘POOR COMPANY REPORTS
CRUSH STOCKS 10-19-12 We’re
back to square one on the week as far as most major indexes are concerned. But
you wouldn’t know it by Thursday’s and Friday’s
action. We’re also back to the
previous matter of light volume rallies and heavy volume selling, meaning
distribution. Earnings overall were expected to be weak but corporate revenues
weren’t expected to decline by
this much. The litany of disappointments is quite long: (MSFT), (IBM), (INTC),
(GOOG), (CMG), (MCD), (GE), (AMD) etc.The normal rotation away from tech to
more conservative sectors like financials (XLF), consumer discretionary (XLY),
healthcare (XLV) and so forth came to an abrupt end at least on Friday. Better
relative performance? Perhaps, but most carbon-based investors could care less
about such arcane institutional distinctions. Friday was a “get me out”
day.The dollar (UUP) was stronger which crushed precious metals (GLD) &
(SLV) and commodity tracking sectors (DBC) overall, a very ugly day. Stocks had
their worst day in four months which is the opposite of the previous week’s headline of best week in five months—wash, rinse and repeat.In the eurozone, EU ministers
have an agreement to provide a banking regulatory vehicle. But the details and
calendar of doing so are sketchy. The Spanish delay strategy is clearly
designed to seek a better set of conditions for a bailout. They don’t need one “today” but will eventually. So the meme going around
bullish circles today that the eurozone is fixed is laughable. There isn’t much to add as now the FOMC meeting next week is in
focus not to mention the election and other potential surprises. The FOMC will
make another announcement on Wednesday. They have very few tools left at their
disposal except perhaps lowering bank reserve requirements. Cutting interest
rates to zero doesn’t
seem a sensible option. Perhaps even the glamour of the Bernanke/Draghi Put is
fading as well. Another presidential debate then it’s a sprint to the finish. Given the tightness of the
polls, ZH posted the notion of a Gore/Bush type of election outcome which could
take us to the fiscal cliff in a political mess. How fun would that be? We had
moved a substantial amount of the major index positions from long to cash at
the beginning of the week. This seemed dumb by Thursday morning but now seems
neither astute nor dumb. So is it a buying opportunity or just a move to the
sidelines for now. We choose the latter for now. Trying to make sense of
markets especially in this centrally planned economy, can make anyone look
foolish.As indicated volume was higher on selling as no doubt many trailing
stops were triggered. Breadth per the WSJ was quite negative approaching a
10/90 day…’ , Spain’s Back In Crisis Mode… And Will Take The EU Down With It http://albertpeia.com/spainbackincrisismode.htm , This
Is Why, To An Economist, QE Refuses To Work ZeroHedge.com { A very important point/reference is made here
infra regarding the reality of ‘grant’ (bribe) money which is why academics
are, though contraindicated in terms of reality and 4 years of failure, backing
obama in lock-step legion. Truly pathetic and indicative of decline! True
desperation! } There is practical, everyday common sense... and then there is
economics. Because when it comes to explaining why a square peg won't fit into
a round hole, only an economist will tell you, over and over, that it will
eventually happen, one must just tweak the theory a little first,
and then reality will promptly follow. And while even economists have enough of
a frontal lobe (and realize there is little grant money) to pursue intractable
pegs and hole problems, when it comes to the theory at the heart of their
beloved Keynesian voodoo religion, namely Quantitative Easing, the answer is
always one, and it is very simple: we need more! Yet even
economists are not naive enough to not recognize that QE has not worked in any
of its 4 previous iterations (logically, as if it had there would be no need
for a fifth, open-ended one). Where it gets fun is watching them come up with
amusing yet convoluted, involved and outright demented explanations, some even
in chart format, why QE keeps on failing. Below, we present just such a graphic
explanation which only an economist could love, or care about. , R(osenberg)
& B(ernstein): Two Ex-Merrill Colleagues, Two Opposing Outlooks, One
Permabull Rebuttal Earlier this
week two former Merrill colleagues, since separated, were reunited on several
media occasions, and allowed to spar over their conflicting views of the world.
The two people in question, of course, are Gluskin Sheff's David Rosenberg,
best known during the past 3 years for not drinking the propaganda Kool-Aid,
and systematically deconstructing every "bullish" macroeconomic
datapoint into its far more downbeat constituent parts, and his ebullient
ex-coworker, Richard Bernstein, formerly head of equity strategy at a firm that
had to be rescued by none other than Bank of America and currently head of RBA
advisors, who just happens to be bullish on, well, everything. And since any
attempt at holding an intelligent conversation on CNBC is ultimately futile (as
can be seen
here) and is constantly broken up by both ads, and interjecting anchors and
show producers who care far less about facts than keeping the presentation
'engaging' (and going to such lengths to even allow Jim Cramer to have his own
TV show), Rosenberg decided to dedicate his entire letter to clients today to
"providing a rebuttal" of the slate of reasons why according to
Bernstein the "we are on the precipice of a 1982-2000 style of secular
market." What follows is one of the most comprehensive "white
papers" debunking the bullish view we have seen in a while. Read on. , Goldman's
Releases Walkthru "Toolkit" Of How It Will Respond To Second Coming
Of Greg Smith's Muppetgate , If
The Market's Disconnect With Economic Reality is Over, Watch Out Below , Today's
Redbull-Sponsored Market Plunges By Most In 4 Months , Why
Rajoy's 'Delay-And-Pray' Strategy Won't Work , This
Is The Housing Bubble Beneath The "Recovery" We want to 'believe', we really do; but
anyone with any sense (and no skin in the game) can see through the data; the eon-like
periods of foreclosure and the drastically reduced supply. No matter how
'bullish' homebuilders are, or how much they dream of a future pickup, calling
the recovery (as Bob
Shiller recently noted) is just a fool's errand. The truth is, for the
average citizen, housing is not recovering - the wealth effect is not creating
animal spirits - and we do indeed have more to fear than fear itself. The
following 79 second clip from Bloomberg TV should perhaps clarify the
'difference' in demand for housing. Primary residence 'buyers' are
down remarkably, while 'investors' are up dramatically - now at
pre-crisis bubble levels! Perhaps, as
we noted here, Och-Ziff's stepping away from the 'flip-that-house' or
'REO-to-Rental' game is as good an indicator of exuberance as any. , Spain's
Regional Bailout Fund: A Drop In A Bucket Of Insolvency , Bill
Gross Warns "Very Likely' Central Banks Will Cause 1987-Like Crash
Two bank failures take U.S. tally to 46, FDIC says Marketwatch
Microsoft’s benefit of the doubt is done Marketwatch {
Indeed! }
Pimco says U.S. downgrade imminent Marketwatch
Sales of existing homes decline 1.7% in September Marketwatch
Inventories decline 3.3% to 2.32 million units/ Inventories represent
5.9 months of supply
Banks lead Europe stocks lower amid earnings woes Marketwatch
55
Facts About The Debt And U.S. Government Finances That Every American Voter
Should Know
The Economic Collapse | The future of the
United States of America is being systematically destroyed by our politicians,
but unfortunately most Americans don’t really grasp exactly what is happening.
Keiser Report:
Enema of the State
RT.com | Max Keiser and Stacy Herbert discuss banksters
having the “eyes
of used enema resellers.”
U.S.
to Get Downgraded Amid Fiscal ‘Theater,’ Pimco Says
Bloomberg | The sovereign credit rating of the U.S. will be cut
as “fiscal
theater”
plays out in the world’s biggest economy.
Feds
Give Welfare to the Dead, Deny Medicare to the Living
Michael Tennant | The federal government
has been paying welfare benefits to the dead and withholding Medicare benefits
from the living.
U.S.
Taxpayers Spent $5.6 Million in 2011 to Preserve Cultural Landmarks – in Other
Countries
CNS News | U.S. taxpayers spent $700,000
in 2011 to help conserve the ruins of a 9th century city in East Africa,
according to a State Department report.
Google
Stock Plunges: Trading Halted After Earnings Report Shows 21% Decline
Year-Over-Year
Mac Slavo | Following the trend of
shipping company Fedex, the largest advertising venue in the world is showing
signs of strain in a weakening global economy.
Germany’s
Merkel Calls for EU Veto Power Over National Budgets
New American | If approved, the EU would
have more power over its formerly sovereign members than even the U.S. federal
government has been able to usurp from American states.
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 }
