Business Summary Links By Day
Submitted by Tyler
Durden on 11/03/2012
In
the aftermath of yesterday's better than expected jobs number there have been
many analyses in the media on both sides of the aisle, either attacking or
defending Obama's track record in creating jobs. All have come up with
arguments which according to their authors, are solid and defensible. There is
one analysis, however, which is missing, and that is a follow up of what we
showed yesterday in "Chart
Of The Day: America's Geriatric Work F(a)rce." In it we
demonstrated the very much "under the radar" schism of
America's workforce since the NBER-defined official end of the recession in
June 2009 into the "haves", or those above 55, who have
been able to get a job since the end of the recession, and the "have
nots", or all those in the labor force who have not
been able to find a job. So how does this data look when extended to the
beginning of Obama's term, or the 46 full months starting with his inauguration
in January 2009, and continuing through the latest, October 2012 data point.
The chart is presented below; you decide.
Dave’s Daily: http://www.etfdigest.com ‘ELECTION TENSION 11-5-12 I’m not going to post much of anything until Wednesday
assuming there is a decisive (hopefully) outcome in the U.S. What’s the point? The conventional wisdom is markets may
rally if Obama wins since QE and ZIRP will continue. A Romney win might mean
less sugar for the vacuum tubes. A hung election is the worst outcome
naturally. And so it goes.But while you’re
watching the returns just remember Greece is having its own election Wednesday.
Why is this important? The country only has enough money for one week. Further,
there has been no agreement on austerity with the troika allowing for more aid.
The current Greek parliament has a majority of 5 is my understanding and of
course austerity isn’t
popular in the streets of Athens. This may be part of the reason German 2-year
notes are now at negative yields (-.014%) as investors flock to them on fear of
a Grexit.Markets did little on the day eking-out small gains on light volume.
This makes snarky comments and charts a useless effort.That said we’ll look a few charts just for show…’
Submitted by Tyler Durden on
11/05/2012
Submitted by Tyler Durden on
11/05/2012
When
it comes to sleepless nights, Toimi Soini of Finland originally set the record
by using the "toothpicks under the eyelids" method for 11 straight
days. In hindsight, Toimi was an amateur. Toimi Soini was not a banker and this
was his downfall. As for the Canadians, Swiss and British – yes they are
all bankers, but not just any bankers. This terrific trio have the displeasure
of forever being known as the bankers who sold their gold. The irony of course, is the action of the World’s central bankers
themselves is the reason why gold is destined to remain golden for sometime to
come. And with gold sitting near $1700/oz, and with no end to the money
printing games, the sleepless nights are destined to continue. IceCap's
Keith Dicker opines on the wrong-ness of Alan Greenspan's economic miracle,
equity manager's misplaced rationalization of performance as skill, China's
gold-buying spree, the Nobel Peace Prize debacle, and the inexorable growth of
'fake money'.
Submitted by Tyler Durden on
11/05/2012
Just over 400-years ago today, a group of 13 conspirators was caught
trying to assassinate King James I of England and blow up the House of Lords in what became known as the Gunpowder Treason. If
you’ve
ever seen the movie V for Vendetta, you know the story. The plot of 1605 may
have been a failure for the conspirators, but given enough time, a system so
screwed up, so unsustainable, was destined to collapse on itself. Curiously, we’re not so different in
the west today; just like the English monarchs, we have a tiny elite that
controls absolutely everything about our economy– taxation, regulation,
and the supply of money. Needless to say, this is also unsustainable.
And history shows that these types of unsustainable systems will always collapse
under their own weight.
Submitted by Tyler
Durden on 11/05/2012
UPDATE: Zillow is
getting monkey-hammered -27% after-hours on outlook cut
With
S&P 500 futures volume around 25% below average, it is
little surprise that the little-algos-that-could did their damnedest to get up
to Friday's closing VWAP. Equities were in a world of their own today
relative to broad risk assets with high-yield credit lower, volatility
up, and rates lower - seemingly supported by its correlation with oil (which
managed to pop over 1% on the day to almost $86). Utilities were hurt the most
as QE-sensitive Materials, Energy, and Tech managing to outperform as AAPL
levitated from lower lows ($570) pre-open to bring today's price up to Friday's
closing VWAP and that's where we wriggled most of the day, with every rally
faded at that magical level. Whether investors were placing chips last minute
into the election is unclear (Energy outperformance, Financials unch, and
Utility underperformance possibly suggest Romney victory and split house?)
but certainly conviction was low as evidenced by volume and pre-ramp ranges. Despite
USD strength, Gold and Silver also outperformed on the day as Treasury yields
dropped 2-4bps. The S&P ended the day at resistance half-way
between Bernanke's Bottom and Draghi's Dream levels...
Submitted by Tyler Durden on
11/05/2012
Tim
Geithner's public "servant" tenure has not been without its
blemishes: from his deplorable run as the (figure)head of the New York Fed
(from 2003 until 2009), when the entire financial system literally imploded
under his watch, to his epic failing up as Hank Paulson's replacement
as treasury Secretary of the United States, despite his legendary inability to
navigate the Minotaurian labyrinth that is the TurboTax income tax flowchart,
the Dartmouth alum has had his share of run ins with adversity (and adversity
won). Of course, Geithner's tenure in charge of the Treasury in the past 4
years has been somewhat mollified by the fact that here too here was merely a
figurehead, and the true entity that runs the US printing presses is none
other than the JPM and Goldman Sachs co-chaired Treasury Borrowing Advisory
Committee (for more on the TBAC read
here and especially here
as pertains to the former LTCM trader and current head of JPM's CIO group),
meaning that the US Treasury, just like the Fed, are merely branches of the one
true power in US governance: Wall Street. Geithnerian figureheadedness aside,
the one undeniable fact is that Tim Geithner's days as head of the Treasury are
now numbered: he has made it quite clear that he will not accompany Obama
(should the incumbent be reelected) into his second term. So what is a career
"public servant" to do once the public no longer has any interest in
retaining his services? Bloomberg's Deborah Solomon has some suggestions...
Submitted by Tyler Durden on
11/05/2012
Investors'
perceptions of risks, both normal (volatility) and tail (event), have
intriguingly run to both extremes at the same time. 'Normal' volatility has
been so suppressed by Central-Bank action as to become an almost useless
indicator (or at best contemporaneous) - or as Artemis Capital notes "volatility has
become a shadow currency" with the USD (safe-haven) becoming considerably
more correlated with volatility. Extreme volatility concerns are where the
'unintended' consequence has appeared. In a somewhat stunning market realization,
options markets currently suggest a 1 in 4.7 chance of a
greater-than-50% drop in the S&P over the next year. That is more
likely than the lifetime risk of a heart attack. The question then is, are
tail-risks over-priced? Or are investors willing to overpay for that
kind of 'deflation' insurance since we now know that the impossible
is possible!
HSBC
fears U.S. money laundering fines to top $1.5 billion
Reuters | A U.S. fine for anti-money laundering rule
breaches could cost HSBC significantly more than $1.5 billion and is likely to
lead to criminal charges,
Job
Creation Under Barack Obama: Less Than Meets The Eye?
Zero Hedge | In the aftermath of yesterday’s better than expected
jobs number, we must show the truth about this work f(a)rce numbers game.
Washington’s Blog | Are central banks overstating their gold holdings?
CNS News | If Americans under the age of
18 were required as a group to pay off the entirety of the federal government’s debt in equal shares,
each would now need to pay about $218,676.
China Is
Quietly Becoming Gold Superpower
Washington’s Blog | World’s Top Gold Producer
Holding Onto All of Its Gold.
Investment Outlook November 2012
William
H. Gross http://albertpeia.com/grossoutlook.htm
Obama
Campaigns In Vegas While Storm Victims Defecate In The Hallways And Rummage
Through Garbage Dumpsters For Food
http://albertpeia.com/obamaseternalcamtheirpain.htm
Submitted by Tyler
Durden on 11/02/2012
From the ECB's Virtual
Currency Schemes, aka the "Bash Bitcoin Boondoggle" (p. 27):
"A Ponzi scheme is an investment fraud that involves the payment of
purported returns to existing investors from funds contributed by new
investors. Ponzi scheme organizers often solicit new investors by promising to
invest funds in opportunities claimed to generate high returns with little or
no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to
make promised payments to earlier-stage investors and to use for personal
expenses, instead of engaging in any legitimate investment activity."
Considering that this elucidation comes from the very same entity that launched
the SMP, LTRO, OMT, EFSF, ESM, oh, and of course, TARGET2, and whose head said
to not short the EUR as there is "no risk" whatsoever in holding said
currency, one would expect that this definition is absolutely spot on...
Latest U.S. bank failures take 2012 tally to 49
Food
Stamp Growth 75X Greater than Job Creation
Weekly
Standard | Ranking member of the Senate Budget Committee: “76 people
went on food stamps for every one that found a job.”
New York
Looting: Reminder of Bank Bailouts
gather.com |
Hurricane Sandy does not come as a shock in a society not without entitled
losers with no concept of property rights.
America
has devolved into a fast-expanding welfare state, quickly surpassing $1
trillion a year
Natural
News | When people say that America “is the land of the free,” they aren’t kidding.
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 }
