Business Summary Links By Day
Q3
Earnings Season To Date Summary: Ugly... And Getting Worse Roughly one third of the S&P has reported
earnings so far, with another third reporting in the next five days and
almighty AAPL on deck Thursday evening, and if there is one word to describe
what has happened so far, that word would be "ugly." The same word would be used to describe how
Q4 is shaping up to be. And that word will be very a optimistic prediction of
what 2013 will bring unless a major catalyst develops that pushes Congress to
resolve the fiscal cliff situation. So far that catalyst is missing. But going
back to Q3 earnings, here is how Goldman's David Kostin summarizes events to
date: "3Q reporting season is roughly one third finished. Two early
conclusions: (1) Information Technology results have
been startlingly weak with high-profile revenue disappointments by the four
horsemen: MSFT, GOOG, IBM, and ORCL. (2) EPS guidance for 4Q has been overwhelmingly negative across all S&P
500 sectors with 18 of 20 firms lowering 4Q earnings guidance by a median of
5%. Analysts have lowered 4Q EPS estimates for stocks
already reported by 0.4%. We expect
further EPS cuts of 6% loom ahead. Firms reporting next week: AAPL,
T, PG, MRK, CMCSA, AMZN, COP, AMGN, OXY, MO, UTX, MMM, CAT, DD, and FCX." Sorry
Bob Pisani, better luck spinning earnings favorably next QE. , One World
Economic System Kills American Jobs
http://albertpeia.com/oneworldeconsystemkillsamericanjobs.htm , Three Things Investors Don’t Know About Europe How To Buy Bullion
(What to Ask and What to Own) The Recipe For Hyperinflation http://albertpeia.com/europebullionhyperinflation.htm ,
Monster
(Pre-Debate) Ramp Sends Stocks Vertical In last Hour ZeroHedge.com What can we say? All makes
perfect sense: earnings dismal (worse than expected) means BTFD and if there is
one lever to do that effectively given the massive over-exposure in every
levered fund in the world, its AAPL. A 4% rally in AAPL - which perfectly topped out at Thursday's closing
VWAP - was enough to drag stocks comfortably green by the close
with a near-vertical ramp in S&P futures just to help things along. Seems
like the standard
pre-debate rally that we warned about last week - so let's not get too
carried away by today's 'all-is-well' rally. Broadly speaking, risk-assets did not dip as hard as stocks
and the ramp into the close (which as is typical) pulled stocks back up to
'fair' - but with the inevitable overshoot. While we leave up
to our readers to divine the implications of such outlier moves on debate days,
our only suggestion for those who have missed their opportunity to buy the
central bank policy vehicle, formerly known as the S&P 500, with both hands
and feet, is to wait until the next presidential debate and go all in. After all, "it's only fair" that
the market will soar hours ahead of the two teleprompter-less candidates
debating highly irrelevant stuff.
, Stock
Market Fragility Fast Approaching "Flash Crash" Levels
, Guest
Post: Dysfunctional, Dishonest, Insane, And Intolerable Government programs created in the 1960s
created a culture of dependency, government control, relentlessly higher debt,
materialism, and willful ignorance. The incompetence, arrogance, ineptitude and insanity of government
officials at the Federal, State, and Local level are stunning to behold…’ , No,
Soaring Deficits Do Not Mean Record Corporate Profits: In Fact Just The
Opposite , Guest
Post: The Three-And-A-Half Class Society
The U.S. has a
three-and-a-half class society. According to demographer Joel
Kotkin, California has become a two-and-a-half-class society, with a thin slice
of "entrenched incumbents" on top (the "half class"), a
dwindling middle class of public employees and private-sector
professionals/technocrats, and an expanding permanent welfare class: about 40%
of Californians don't pay any income tax and a quarter are on the Federal
Medicaid program. I would break it down somewhat differently, into a
three-and-a-half class society: the "entrenched incumbents" on top
(the "half class"), the high-earners who pay most of the taxes (the
first class), the working poor who pay Social Security payroll taxes and sales
taxes (the second class), and State dependents who pay nothing (the third
class). This class structure has political ramifications. In effect, those
paying most of the tax are in a pressure cooker: the lid is sealed by the
"entrenched incumbents" on top, and the fire beneath is the Central
State's insatiable need for more tax revenues to support the entrenched
incumbents and its growing army of dependents. Let's start our analysis of the three-and-a-half-class society by
noting that the top 25% pay most of the Federal income tax, and
within that "middle class" the top 10% pay the lion's share of all
taxes. , Another
Red (Profit-Taking) Day For Europe
, German
Court Demands Bundesbank Audit Sovereign Gold Holdings The German court of auditors
(Bundesrechnungshof) has demanded that the Bundesbank undertake an audit of its
gold reserves. In an 'audit-the-fed'
style effort, the court wants to ensure that the nearly 3400 tons of gold is in
fact in existence - 'because stocks have never been checked for
authenticity and weight'. Furthermore, the Bundesbank's gold is stored in three
other vaults around the world: The Bank of England, The Bank of France, and the
US Federal Reserve. The court
questions the practice of relying on a written confirmation from the custodians
(foreign central banks). The decision means negotiating with
the three foreign central banks for physical verification but in anticipation,
the Bundesbank has begun the process of shipping 50 tons per year from the
Fed back to Germany for the next three years. , Bill
Gross Explains The Fed's Bubble "Merry-Go-Round" In One Tweet , Why
the EU Crisis Will Be Bigger and Worse Than 2008 Posted by: Phoenix Capital... Post date: 10/22/2012 - We’re talking about a banking system that is nearly four
times that of the US ($46 trillion vs. $12 trillion) with at least twice the
amount of leverage (26 to 1 for the EU vs. 13 to 1...
Submitted by Tyler
Durden on 10/22/2012
Submitted by Tyler Durden on 10/21/2012 Breaking news of a mass shooting at the Azana
Salon and Spa at the Brookfield Square Mall. Details still scarce but at
least 4 people reported wounded and 3 more patients expected, emergency
responders are on the ground, and the mall has been put on lockdown. The
shooting suspect, who is said to have used a machine gun, is still at large.
Updates via @USEmergAlerts:
BROOKFIELD
SQUARE | U/D SUSP BLACK MALE 6'1" 270 LBS. BALD. BROWN EYES U/D BPD RQST A MILWAUKEE SWAT TEAM &
FLIGHT FOR LIFE IS ALSO LANDING AT THE NE CORNER OF BROOKFIELD SQUARE | UEA555
A
One World Economic System That Kills American Jobs
Michael
Snyder | Either way this election turns out, American jobs are going to
continue to get slaughtered by the millions.
Michael
Lombardi | When it comes to the U.S. economy, who will come
to its rescue?
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.
Global
Debt Repudiation? IMF’s Paper On The Chicago Plan Continues To Stir Opinions
Zero
Hedge | The 1936 Chicago Plan was created to somehow prevent the large boom and
bust cycles seen during the Great Depression.
Greece
Austerity Diet Risks 1930s-Style Depression: Euro Credit
Bloomberg
| Greece is spiraling into the kind of decline the U.S. and Germany endured
during the Great Depression.
Chinese
Gold Imports Through August Surpass Total ECB Holdings, Imports From Australia
Surge 900%
Zero
Hedge | China will have imported more gold than the 11th largest official
holder of gold, India, with 558 tons.
Dysfunctional,
Dishonest, Insane & Intolerable
Washington’s Blog |
The incompetence, arrogance, ineptitude and insanity of government officials at
the Federal, State, and Local level are stunning to behold.
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 }
