Business Summary Links By Day
http://theeconomiccollapseblog.com
http://albertpeia.com/17thingsaboutsandy.htm
San Francisco Chronicle { Congratulations to the
World Series Champion Francisco Giants!
}
Submitted by Tyler
Durden on 10/29/2012
Curious how many feet of water the rats in downtown
NYC are under right now? The real-time answer is available after the jump
below, courtesy of the NOAA and this tide height tracker at New York's Battery.
Submitted by Tyler
Durden on 10/29/2012
Once the surge levees break, the water level just
soars and covers everything in a "reverse Titanic" as the following
pictures demonstrate:
Submitted by Tyler
Durden on 10/29/2012
Plenty of talk has gone into the rising income
inequality that America has experienced since the early 1970s. But income is
merely a wealth flow, and the truer measure of equality is the distribution of
net worth and financial wealth (the wealth stock). The historical change is
clear: the bottom 80% have gotten considerably poorer both in financial
wealth and in terms of total net worth.
Submitted by Tyler
Durden on 10/29/2012
With the unlimited asset purchase announcements by
the Fed and ECB recently, the limits of balance sheet expansion will be put to
the test. The current levels would have been seen as inconceivable a
mere few years ago and now it seems business-as-usual as investors
have become heuristically biased away from the remarkable growth. The problem
is - central banks are missing inflation targets and credit growth is
still declining - need moar easing, forget the consequences.
Submitted by Tyler
Durden on 10/29/2012
As we
warned earlier - due to the flooding from the storm surge - ConEd has cut
power to parts of lower Manhattan:
'Dark Pools' comes to mind as the financial district
is blacked out.
Submitted by Tyler
Durden on 10/29/2012
While hardly the biggest priority for NYC at this
time, where rats in downtown New York of all varieties are doing their best to
scramble away from the flood and get to higher territory, futures have just
resumed trading for the overnight session, only to close before the average
retail investor can buy or sell tomorrow at 9:15 am. The first trades indicate
a resumption of this morning's weakness, but keep the 1400 support area in
mind: if solidly taken out this may be Waterloo for the Fed for this year. And
while normally we would expect the futures to get a NY Fed-assisted ramp that
would make the TSX last second surge seems like a joke, the just released news
from AAPL could well shake the bulls out of their trance, and finally force the
world's biggest hedge fund hotel (230 hedge funds long) to puke and take the
entire market with it. As we post, S&P 500 futures are sliding to
1397.5 (down over 10 points) - in line with where we noted they would
trade at today's 'pretend' market close.
Dave’s
Daily: http://www.etfdigest.com ‘MARKETS LIMP INTO THE WEEKEND 10-26-12 It seems to this observer that perhaps not much is going to happen
with markets until after the election. There are just too many headwinds of
uncertainty surrounding everything. Of course, there is always the unknown news
event that can throw things in one direction or another but that kind of stuff
is always with us. The “tell” now is with corporations
who aren’t spending
based on uncertainty surrounding the election, tax policies, the fiscal cliff,
eurozone and so forth. Until these issues become clear we’re in stall mode. Overseas
news was dominated by the Bank of Japan launching another round of stimulus on
fears that it won’t be able to
sell its next bond issue unless they buy it themselves. Frankly, Japan has more
problems with a debt bubble than is currently in the news. Korean stocks fell
on a decline in exports which isn’t a surprise. Chinese stocks fell to a 5 week low on poor
earnings. Spain’s
unemployment rate soared to 25% vs 24% which is stunning even as a stealth bank
bailout is underway. The troika determined that a Greek bailout was still
illusive combined with the country’s demand for €30 billion
more was needed. (The amounts needed there will always be growing it seems as
conditions fall by the wayside.) In France S&P cut ratings for both BNP
Paribas and SocGen. And, even in Canada Moody’s put six banks on watch for downgrades including Bank of
Montreal. Later in the day Swiss icon UBS announced it would lay-off 10K
employees. Meanwhile back in the U.S. GDP data was reported at 2% vs 1.8%
expected with nearly 1/3 of the gain from government spending. Consumer
Sentiment, highly weighted by stock prices, was at 82.6 vs 83.1. I have more “confidence” in the Conference Board
data. The big earnings news from Apple (AAPL) was panned as the stock declined
while Amazon (AMZN) rose despite the large miss on earnings, revenues and
guidance. As to the latter, an analyst at Needham stated the “poor report presented the
opportunity for a large upside surprise on the next report” which is how WS can spin
bad news. With the PE at 280 (no typo) that’s the kind of thinking that institutional robots use to
invest based on analysts’
recommendations. The dollar (UUP) was flat as was gold (GLD). Commodity markets
(DBC) and (USO) were also relatively unchanged Bonds (TLT) and (IEF) were
higher in price as the sawtooth trading range pattern continues over most
maturities. Stocks were uninspired overall lacking certainty on issues noted
above and mostly declining earnings closing flat on the day. It’s really a wait and see
game for now. Volume was once again light as most investors find little
incentive to get further involved now. Breadth per the WSJ was mostly negative…’, YAHOO [BRIEFING.COM]: ‘…Amazon gained 6.9% after
reporting its earnings. The online retailer lost $0.23 per share. However, the number
may not be comparable to the Capital IQ consensus estimate which forecast a
loss of $0.10. The company's revenue of $13.81 billion was largely in-line with
expectations, but management issued downside fourth quarter guidance…’
{ Tell me … What’s wrong with this
(foregoing) picture (of wall street insanity)? } , Guest
Post: A Golden Opportunity { Wow!
The truth really hurts! Difficult to imagine, however, given the ‘obsessive
compulsive’ mindset of players including ‘non-muppet puppeteers’ among others‘
heavily invested in this fiasco which is an overriding dynamic, at least thus
far in this comedy of errors gone global. } The euro debt crisis in Europe has presented Germany with a unique
opportunity to lead the world away from monetary destruction
and its consequences of economic chaos, social unrest, and unfathomable human
suffering. The cause of the euro debt crisis is the misconstruction of the euro
that allows all members of the European Monetary Union (EMU), currently 17
sovereign nations, to print euros and force them on all other members. Germany is on the verge of seeing its
capital base plundered from the inevitable dynamics of this
tragedy of the commons. It should leave the EMU, reinstate the deutsche
mark (DM), and anchor it to gold.
, The
Complete 'Advanced' Economy Sovereign Ratings Cheat-Sheet S&P recently acted to markedly downgrade
Spain, and Moody’s has ended its recent ratings review, leaving Spain
at Baa3; and while ratings could remain largely stable in the short-term
(supported by OMT's promise and the possible delay of GRExit), there are a few exceptions such as France and and the
UK that Citi's Rates group expect to see downgrades on in the short-term.
The following table provides the full breakdown of Moody's and S&P's
ratings for the advanced economies along with Citi's model views - which imply weak outlooks for most of Europe in
the medium-term as Greek reality hits home.
, Guest
Post: Putin Is the New Global Shah of Oil
Exxon Mobil is no
longer the world's number-one oil producer. As of yesterday,
that title belongs to Putin Oil Corp – oh, whoops. We mean the title belongs to Rosneft,
Russia's state-controlled oil company. With TNK-BP in its hands, Rosneft
will be in charge of more than 4 million barrels of oil production a day. And who is in charge of Rosneft? None other
than Vladimir Putin, Russia's resource-full president. Gazprom in control of Europe's gas, Rosneft
in control of its oil. A red hand stretching out from
Russia to strangle the supremacy of the West and pave the way for a new world
order– one with
Russia at the helm. It is not as far-fetched as it might seem – or as you
might want it to be. Or imagine this: Russia could join OPEC. , Why
The Real Earnings Picture Is Bad And Getting Worse Listening to the incessant chatter of
confirmation bias from CNBC, you could be forgiven for thinking that earnings
are 'not that bad'. Headline-makers like AMZN, GOOG, and AAPL scare for a few
moments but we are reassured back to numb BTFD-land by some disingenuous
analyst (or worse a PM) who says he is buying with both hands and feet. The misleadingly top-down positive
impression of looking at a 'beats-to-total ratio', suffers from
one rather annoying bias (that often gets forgotten): analysts
constantly revising their expectations throughout the reporting period, and
hence rarely deviates from the current level of 71%. But, as Citi notes, if one examines results relative to analyst
expectations prior to the reporting season, it's clear just how disappointing
Q3 has been - especially given the sell-side mark-downs already
factored-in.Intriguingly, for as downbeat as third quarter results have
been, we've yet to see the sell-side revise down estimates for next quarter or
2013.
Submitted
by Tyler Durden on 10/26/2012
Several months ago, we reported about a
troubling
development in Vietnam, happy inflationary host of one of the world's most
rapidly devaluing and best named currencies, that in direct refutation of Ben
"Gold is not money, it is tradition" Bernanke's claim that gold is
just a trinket one can fondle with no inherent value, the local banks had gone
as far as paying the local residents a dividend to "store" their gold
(recall all those charges against gold that it never, ever pays a
dividend....). However, as we subsequently warned, any time a bank, and
especially an entire banking sector, is willing to pay you paper
"dividends" for your gold, run, because all this kind of (s)quid pro
quo usually ends up as a confiscation ploy. Sure enough, as Dow Jones reports
today, the gold, which did not belong to the banks and was merely being
warehoused there (or so the fine print said), was promptly sold by these same institutions to generate cash proceeds
and to boost liquidity reserves using other people's gold, obtained under false
pretenses.
Submitted by Tyler
Durden on 10/26/2012
There is down-sizing; there is
trimming-the-fat; and then there is UBS. The once-giant Swiss Bank just announced
it will cut up to 10,000 jobs. This comes on top of the 3,500 from last year -
which makes a rather dramatic weight-loss strategy for the 63,500 employee
firm. As the FT
reports, they will not happen all at once (so just after the election
then?) but will lead to the closure of a sizable part of UBS' fixed-income
trading operations (and other capital intensive areas of the investment bank). Perhaps
in the understatement of the day: "There were several options on the table but UBS has decided on
the most radical one," a person familiar commented as the
plan is hoped to reduce complexity and costs - so no more Bloomberg Terminals?
One thing surely gone is a source of fixed income axes: "The new strategy,
hammered out in several executive board meetings in New York this week and set
to be announced next Tuesday, will
lead to the closure of a sizeable part of UBS’s fixed-income trading
operations and other capital-intensive areas of the investment bank." The
winner: Goldman of course, which in a world of collapsing trading revenues has
taken to Lehmaning its competition once again, only this time not using brute
force but the far more classical war of attrition in a collapsing economy.
Submitted by Tyler
Durden on 10/26/2012
The government may have been
instrumental to the US economy growing in the third quarter (did we say may:
generating over 30% of the annualized 2.0% "growth" in Q3 probably
qualifies as was absolutely instrumental in this impartial, apolitical
datapoint), but the bottom line is that there was a cost. There is always cost.
And a number: the number is
$15.776 trillion, which was the absolute GDP number as of
September 30, 2012 (to be revised lower in one month). This means we can now
calculate what total US Debt-GDP was as of 3 weeks ago. And with the DTS reporting that debt was $16.16 trillion
as of the day the third quarter ended (net of the SSN funding
adjustment, which of course is always reported the first day of the next
quarter for window dressing purposes), it means that total US Debt-to-GDP was 102.4%. And
obviously rising much faster as since the Second Great Depression it takes well
over $2 in debt for every $1 increase in GDP. Because there never is such a
thing as a free lunch, especially when the government is operating the soup
kitchens...
Submitted
by Tyler Durden on 10/26/2012
The
preliminary look at Q3 GDP just came out and "beat" expectations of a
1.8% print, with a 2.0% reading (or just in line with stall speed, a number
which previously has been indicative of recessions). So far so good, but as
with every other pre-election economic data point out of the government, one
has to look behind the headline to get the true picture. And the details are,
as expected, ugly. Because of the 2.02% annualized increase in GDP, over
one third, or 0.71% (compared to a deduction of -0.14% in Q2), was
contributed by "Government Consumption." This
was the biggest rise in government spending in 3 years, and only the first
contribution by Uncle Sam to its own GDP print since Q2 2010. So in
much the same way as the September jobs print soared courtesy of government
employee hiring, this same government is now juicing its own numbers to make
itself look better. The real question is what the second and third Q3 GDP
revisions will show, which both come, luckily, after the election. Recall that
Q2 GDP initially came out at 1.5%, then was revised to 1.7%, until finally
coming to rest at 1.25%.
Marketwatch: UBS to cut up to 10,000 jobs: report
Radio Update: Dow down 2% on week
U.S. stocks finish with weekly losses
Will
The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing
The Economic Collapse | If you still have
a good job, you might want to hold on to it very tightly.
Q3
GDP Estimate Beats Expectations As Government “Consumption” Soars
Zero Hedge | This was the biggest rise in
government spending in 3 years.
8,803,335:
Another New Record for Disability—Up 975 Per Day Under Obama
CNS News | The number of American workers
collecting federal disability insurance benefits hit yet another record high in
October, according to the Social Security Administration.
David
Einhorn Explains How Ben Bernanke Is Destroying America
Zero Hedge | David Einhorn knocks it out
of the park with his very first statement during today’s Buttonwood Gathering.
The Germans Are
Coming for Their Gold
CNBC.com | A German federal court has
said that country’s central bank should conduct annual audits and
physically inspect its gold reserves worldwide, including gold in the custody
of the Federal Reserve Bank of New York.
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 }