Business Summary Links By Day
The
Fed Isn’t Providing “Monetary Morphine”; It’s Spreading Financial Cancer That
is Killing the Markets and Democratic Capitalism in General March 16, 2012 By gpc1981 http://gainspainscapital.com ‘While
the vast majority of commentators look at the market action of the last three
months and celebrate, I cannot help but shudder. The reason is that the stock
market has been propped up solely by Central Bank and/or Federal Government
intervention or the hope of more intervention.That
alone is worrisome as it indicates the stock market no longer cares for
economic or financial fundamentals (something that has been clear for several
years now).However, far more worrisome is fact that the Fed and Federal
Government are now not only propping up stock prices, but are openly trying to
crush other assets (especially politically dangerous commodities such as oil
and gasoline) in an attempt to make it appear that inflation is under control.Consider the following: #1) The sudden
talk of “sterilized QE” or QE that won’t involve more money printing (read: There is No Such Thing as Sterilized QE). #2)
The sudden and curious collapse in precious metals (right after Bernanke says
QE 3 isn’t coming anytime soon… only for the Fed to leak the “sterilized QE”
talk a week after Gold and
Silver collapse). #3) The Government’s decision to unlock our
Strategic Petroleum Reserves again (crushing gas prices which were the primary
inflationary concern of the Obama administration) #4) Those Wall Streeters close to the Fed (Goldman’s Jan Hatzius) predicting “sterilized QE” coming in April or June
ALL OF THESE MOVES HAVE TWO GOALS:
#1) Propping up stocks #2) Crushing those
commodities/ assets that are politically (and economically) dangerous
(gasoline, food prices). The take away point that I’m trying to make here is
that we’re now at the point of intervention in which the Fed is openly managing the markets right down to
specific asset classes.Never in history has
Central Planning gone well for either the markets or the economy. Wall Street
and the mainstream media may cheer that stocks are up and inflation
“transitory” (despite clear evidence that the latter point is false: the bond
market indicates real inflation
to be around 10%). However, I for one am truly terrified by what I see
occurring in the markets…’ , The
Crazy Things That One Whistleblower Says Are Happening At JP Morgan Will Blow
Your Mind http://albertpeia.com/crazythingshappeningatjpmorgan.htm
, Train
Reading: Muppet, Vampire Squid & Other Name Calling on Wall Street The Wall Street Journal By Steven Russolillo
[ And, where might you fit into wall street’s ship of fools; or, more
pointedly, whose fool are you? And, keep in mind, the wall
street ship is the USSA Titanic. ] What brokers call their clients
behind their backs – Total Return By
Jason Zweig ‘Greg Smith’s letter
announcing his resignation from Goldman Sachs Group contained many juicy
tidbits, perhaps most notably that he heard at least five senior Goldman
executives refer to their clients as “muppets.” (In
the U.K.,
where Smith was based, a “muppet” refers not just to
a stuffed cartoon character but is a synonym for “idiot.”) Cynics with a sense
of Wall Street history, however, were entirely unsurprised: Contempt for
clients is as old as markets themselves…’ , The
Numbers That Matter: $15,564,809,891,768 And $8.354 Billion Durden 3-16-12 Without wasting our
readers' time, here are the only two numbers that matter today: *$15,564,809,891,767.99 - This is how high
record US federal debt is as of today. Although "record" and "US debt"
in the same sentence is now redundant. So just debt. (source) *$8.354 billion. This is how much net US tax revenues
(net of refunds of course) are lower in fiscal 2012 to date compared to the same period in 2011. In this Bizarro world, economic recovery is apparently based on
weaker numbers (source).
, Brent
At $126 As Israel Security Cabinet Votes 8 To 6 To Attack Iran Durden 3-16-12
, Guest
Post: Caution - Falling Currencies Durden
3-16-12 Eventually, people will discover that they cannot save in terms
of dollars (those who don’t figure it out will be rendered economically
irrelevant as their wealth is removed from their hands). Savings is a necessary
prerequisite for investment. Investment is necessary for companies to grow, to
develop new technologies, products, and markets. Growth is necessary to hire
new workers. As existing companies achieve higher productivity of labor, and do
not need as many workers to perform the same work, they lay off unneeded
people. In a free market, the unemployed would quickly be hired by growing
companies that expand and develop new businesses. But today’s structurally high
unemployment can be traced back to Friedman’s quack prescription (among other
government interference). Weakening the currency not only discourages savings,
it also weakens businesses who have to keep the currency on their balance sheet
and who have to import some of their inputs. When a currency loses value, then
all who hold it incur a loss. It is not possible to employ workers and run a
business in a country without holding significant amounts of its currency.
Currency debasement therefore imposes constant losses on enterprises that try
to operate in such an environment. , Guest
Post: Lost Principles And Social Destruction Durden
3-16-12 …America has so
strayed from its founding roots that it now hungers; starving for lack of
nutrients from its natural soil. As with all other catastrophic societies
of the past, we have been manipulated and conned into overlooking and
over-rationalizing astonishing injustice and in some cases, unmitigated
evil. I frankly don’t know what else to call it. There are some
acts of malevolence that go beyond human weakness and inadequacy and reach into
realms of calculation that are so cold, so soulless,
there is simply no other way to describe them. These actions and
attitudes tend to run rampant in dying nations but are rarely singled out and
criticized by those in the midst of the great fall. Each begins with the
loss of particular principles and inherent morals that are normally prized
under more healthy circumstances, but are despised in times of chaos and
uncertainty…’ , Inflation
Even in the Cost of Corruption
: testosteronepit
: 03/16/12 Much harder to measure than inflation in
the cost of gasoline, but finally, Germany has a way.... ,A
Friendly Reminder on the VIX : CrownThomas
: 03/16/12Retirement... off? ,FaTHeR
MoRAL HaZARD On THE SHIP oF FRaUD : williambanzai7
: 03/16/12 Thank you Ben Shalom Bernanke for being
the singular pompous PhD idiot who can take the yeoman's credit for navigating
this entire golbal ship of financial farce into the sargasso sea of pinstriped... , Industrial
Production Misses, Capacity Utilization Declines For First Time Since April
2011 Durden
3-16-12, The
Fool's Game: Unravelling Europe's Epic Ponzi Pyramid Of Lies Durden 3-16-12 Now in the curious world
we live in today; this only came out in public as the answer to a question
raised in the German Parliament. Some reflection on the nature of these
guarantees, that the European Union had decided not to tell us about, causes me
to think of them as “Ponzi Bonds.” These are the seeds
of a great scheme that has been foisted upon us. Bonds of a
feather that have flocked together and arrived with the black swans one quiet
Wednesday afternoon. The quoted and
much ballyhooed sovereign debt numbers are now known to be no longer accurate
and hence the lack of credibility of the debt to GDP data for the European
nations. Stated more simply; none of the
data that we are given about sovereign debt in the European Union is the truth,
none of it. According to Eurostat, as an example, the
consolidated Spanish debt raises their debt to GDP by 12.3% as Eurostat also states, and I quote, that guaranteed debt in
Europe “DO NOT FORM PART OF GOVERNMENT DEBT, BUT ARE A CONTINGENT LIABILITY.” In other words; not counted and so, my friends, none of the data pushed
out by Europe about their sovereign debt or their GDP ratios has one whit of
truth resident in the data. , The
Schrodinger Inflation: Ignore All Time High March Gas Prices, BLS Tells You
Inflation Is Lower Than Expected Durden
3-16-12 Just spent a record high amount at the gas pump for this time of
year? The BLS says you didn't, and after all when it comes to reality, the BLS
has a right of first refusal. The just printed headline CPI came at 0.4%, just
in line with expectations of 0.4%, while core CPI of 0.2%, missed expectations
of 0.3%. That's right: not only is inflation meaningless, it is less than
expected, leading to surge higher in stocks, bonds and the EURUSD. As for those
items which are once again soaring in prices such as food and gas? Luckily,
those can be hedonically adjusted by everyone to virtually zero. (wait? You still pay your mortgage or rent? Sucker!) Remember: the iPad is
deflationary. , Goldman person leaked Apple, Intel secrets: lawyer , Fed
revises stress test losses { ‘… dit
helicopter ben shalom b.s.bernanke,
mais, quelle est la difference …’?
Indeed, bunglow ben;
no difference at all! After all, we’re dealing with total manipulated b***s***
anyway so who’s really counting, paying attention! } , Lacker:
Fed Will Need to Raise Rates in 2013
The Wall Street Journal, Proposed
UN Environmental Constitution For The World Would Establish An Incredibly
Repressive System Of Global Governance
http://albertpeia.com/unenvironmentalconsrepressiveglobalgovernance.htm
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{ some prior links of current interest }
