Business Summary Links By Day

 

 

20 Signs That We Are Witnessing The Complete Collapse Of Common Sense In America  http://albertpeia.com/americasdevolutionintomadness.htm http://albertpeia.com/bobobamathetraitor.htm  ,  Europe’s Bazooka Will Fire Blanks… Good Luck Killing the Crisis With ThatMarch 28, 2012 By gpc1981 Europe continues to take a page out of Hank Paulson’s “Crisis Combat” booklet, by unveiling one monetary “bazooka” after another. Obviously, EU leaders didn’t notice that Paulson’s “bazooka” completely failed to stop the 2008 Crash.Even more strangely, they keep pulling out bazooka after bazooka, first unveiling the EFSF which was supposed to raise €1 trillion but failed to raise even €10 billion without having to intervene in its own bond auctions.Then came the ESM, which was supposed to be another mega-bailout fund, which as before, is having trouble raising funds. After all, if one bailout fund is a dud, why would launching another fix anything?Oh, and I forgot to mention that both bailout funds will be leveraged… which Europe obviously doesn’t have enough of already (the EU banking system as a whole is leveraged at 26 to 1. Lehman Brothers was at 30-to-1 when it imploded). , US Debt Ceiling D-Day: September 14, 2012Earlier today, outgoing Treasury Secretary and tax challenged part-time pathological liar (see here) Tim Geithner said that any worries of the US debt ceiling are misplaced, and that at best such an event would occur "late in the year" (and to think the August 2011 extended $16.394 trillion debt ceiling was supposed to last well into 2013). Naturally, coming from Geithner, it meant this statement was a flat out lie the second it left his mouth, which is why we decided to do our own analysis of just when the latest and greatest debt ceiling would be breached. The answer is that at the current rate of debt issuance, which incidentally is going to accelerate sharply due to the recent extension of the payroll tax cuts which will require an incremental $100-150 billion total debt to be funded, and extrapolating future issuance solely on historical patterns, the US debt ceiling D-Day will be September 14, 2012. This means that there will be just over 6 weeks for the GOP to hijack each and every presidential debate before the November election with just this topic. Because there will hardly be anything more humiliating for Obama than to have to defend his platform even as the country is once again past the verge of insolvency, and forced to "commingle" retirement funds to keep Treasury operations running. Which incidentally is just as we predicted would happen when we explained why the GOP fast shelved the payroll tax debate so rapidly. It was nothing but a prelude to precisely this. Because once it is raised, and it will be raised of course, next up will be yet another ratings downgrade by S&P and this time, Moody's as well. All of which will most likely happen before November. , Is High Yield Credit Echoing 2011's Equity Nightmares? , Commodities Weak As Stocks Drop To Short-Term Credit Reality , Eric Sprott: The [Recovery] Has No Clothes , Bianco & Biderman On Bonds And deBasement "The day the Fed admits there is an inflation problem is the day they are too late" , Arguments On Obamacare Conclude, SCOTUS Decision Due By Late June , MF Global Hearing Live Today's primetime popcorn event is about to begin: as reported earlier, the House Financial Services Committee will hold an oversight and investigations hearing on the collapse of MF Global, beginning at 3 pm. The hearing will focus on the decisions during the company's final days that led to the disappearance of up to $1.6 billion in customer funds. The party line is that "The investigation aims to "not only to find out where the money went but to identify what went wrong in order to prevent this from happening again," Subcommittee Chairman Rep. Randy Neugebauer (R-TX) said." What instead will happen is that a bunch of politicians will huff and puff, and nothing will happen once again, because to take down Corzine, would mean to start eating away at the entire rotten core of today's captured political system, which has and always will be run out of Wall Street. It will also be amusing to listen to Edith O’Brien plead the Fif , EU - EFSF & ESM - A Whole Lot Of Nothing Nothing has changed. , ToDaY'S HiTs  : williambanzai7 : 03/28/2012 - 16:27 Spinning the big ones in your direction... , Europe’s Bazooka Will Fire Blanks… Good Luck Killing the Crisis With That : Phoenix Capital... : 03/28/2012 - 12:04 Because of its interventions and bond purchases, ¼ of the ECB’s balance sheet is now PIIGS debt AKA totally worthless junk. And the ECB claims it isn’t going to take any losses on...  , EURO BaZooKa (Modified Diagram) : williambanzai7 : 03/28/2012 - 14:14 Warning-Restricted Area-Hopium Gas Zone , US Issues New 5 Year Bonds At Lowest Bid To Cover Since August, Sends Total US Debt Over $15.6 trillion Europe Leaks It Will Fix Crushing Debt Problem With €940 Billion Of More EFSFESM Debt  How To Fund The Government This Year , Europe Drops Most In 3 Weeks As LTRO Stigma Hits New Highs , Guest Post: Welcome To The United States Of Orwell, Part 3: We Had To Destroy Democracy In Order To Save It  , Goldman On Europe: "Risk Of 'Financial Fires' Is Spreading" , Summarizing The True Sad State Of The World In Two ChartsYou can listen to CNBC, and the president, drone on about the recovery, about the wealth effect, about trickle-down economics, about why adding $150 billion in debt per month is perfectly acceptable, and about a brighter future for America and the world... or you can take a quick look at these two charts and immediately grasp the sad reality of where we stand, and even sadder, where we are headed. , Previewing Today's MF Global HearingToday at 2 PM, the House Financial Services Committee will hold its third hearing (and the fifth overall) on the ever more confounding topic of MF Global, its bankruptcy, and its vaporized client funds, which amount to about $1.6 billion at last check. And while Jon Corzine will not be there, virtually everyone else from the firm who can promise that said vaporitzation of funds was merely a softward glitch and not the fault of anyone in particular, will be present, from the General Counsel, to the CFO, to the Deputy General Counsel of JPMorgan, all the way to Edith O'Brien, assistant treasurer of MF Global, who is expected to plead the Fifth. One wonders why if there is nothing to hide, but that is the topic of another discussion. And as exposed last week by the WSJ, this hearing will be particularly interesting as now it has been made clear that Corzine specifically gave the order to transfer funds to JPM's account. As NJ.com summarizes: "Per JC’s direct instructions." This line, contained in an email that an MF Global finance official sent to explain a $200 million transfer to JPMorgan Chase from an MF Global account containing customer funds, will be a focal point of a congressional hearing today into the futures firm’s collapse. The email, disclosed in a congressional memo circulated Friday, has raised questions about whether the former governor and CEO of MF Global knew customer money was being used to plug holes in the firm’s finances as it plunged into bankruptcy during the last week of October. As much as $1.6 billion of client funds has gone missing, according to a trustee liquidating the futures firm." , Mrs. Watanabe Prepares To Blow The JGB Bubble: Household Holdings Of Japanese Bonds Slide To Lowest In 7 Years , Mark Grant Explains The Latest European Con , Durable Goods Miss, Inventory Stockpiles Soar To New All Time High

Morning Snapshot Mar 28th, 2012 (USAGOLD) The dollar seems to have found a little support as well, curtailing the greenbacks’s recent slide. Yet the dovish tenor of Fed chairman Bernanke this week, if nothing else is likely to limit the dollar’s upside. Of course a weaker dollar is going to net the Fed the inflation that it longs for. Unfortunately, that is already resulting in ever-higher energy prices. The AAA’s daily survey now shows the average price of a gallon of gasoline in the US reached $3.911 and is on track to exceed $4.00 well before cyclical pressures associated with the peak summer driving season (and the need for multiple summer blends) kick in.Higher inflation expectations weighed on the March consumer confidence number released yesterday and price risks in general seem to be creeping back into the consciousness of our client base..

US durable goods orders +2.2% in Feb, below market expectations of +2.7%, vs -3.6% in Jan.
France Q4 GDP – Final confirmed at +0.2%; y/y pace revised lower to 1.3%.
Eurozone M3 (sa) growth accelerated to +2.8% y/y in Feb, above market expectations of +2.3%, vs +2.5% in Jan.
• Italy business confidence rose to 92.1 in Mar, vs upward revised 91.7 in Feb.
• UK Q4 GDP (3rd Release) revised lower to -0.3% q/q, vs -0.2% previously; y/y pace revised lower to 0.5% from 0.7%.
UK current account -£8.45 bln in Q4, near expectations, vs -£10.51 bln in Q3.
• Germany CPI (preliminary) moderates to 0.3% m/m in Mar, below expectations of 0.4%, vs 0.7% in Feb; 2.1% y/y, vs 2.3% in Feb.
• Thailand manufacturing production -3.4% y/y in Feb, vs -15.03 y/y in Jan.

Amidst the Deepest Slump since the Great Depression, Obama is Touting an “Economic Recovery”

Barry Grey | Obama is touting a modest improvement in employment over the past several months to boost his electoral prospects in November.


Home prices hit a 10-year low

CNNMoney | Home prices have fallen a whopping 34.4% from the peak set in July, 2006.

Don’t be fooled by the money illusion

MarketWatch | Rising prices are making some statistics look better than they really are.

Elites Crush PIGS – Old Game Plan Made Anew?

Daily Bell | Call it recession, depression or simply cataclysmic economic conditions. But one way or another Southern Europe is in a terrible state.

 

Miscellaneous Business Headlines:


28-Mar-12 06:36PM   Tomorrow's Tape: GDP, Jobless Claims On Tap at The Wall Street Journal 06:21PM  China and U.S. Econ Data Bring Profit Takers to Stock Market Party at Wall St. Cheat Sheet 06:04PM  Train Reading: Don't Abandon Bonds at The Wall Street Journal 05:37PM  States Post Uneven Gains in Income at The Wall Street Journal 05:33PM  States Post Uneven Gains in Income at The Wall Street Journal 05:17PM  TVIX: How a Stock-Market Hedge Came Unglued at The Wall Street Journal 05:10PM  Minyanville's T3 Daily Recap: Weak Durable Goods Data Weighs on Market at Minyanville 04:39PM  Facebook IPO: Will Shares Surge? at The Wall Street Journal 04:38PM  Rising Auto Exports Boost the Midwest at The Wall Street Journal 04:25PM  Facebook IPO: Will Shares Spike From the Onset? at The Wall Street Journal 04:23PM  The Best And Worst Of Banker Bashing at Forbes 04:21PM  TVIX: How a Stock-Market Hedge Came Unglued at The Wall Street Journal 04:19PM   J.P. Morgan: Sustained Job-Market Recovery Is Here at The Wall Street Journal 03:49PM  J.P. Morgan: Sustained Job-Market Recovery Is Here at The Wall Street Journal 03:41PM  The 'Bernanke Bounce' Didn't Last Long at The Wall Street Journal 03:40PM  The Best And Worst Of Wall Street's Congressional Hearings at Forbes 03:36PM  Analyst: Fewer Stocks Doing the Heavy Lifting = Not Good at The Wall Street Journal 03:10PM  Republican Senator to Block Fed Nominees at The Wall Street Journal 03:04PM  InPlay: Additional recovery gains for stock indices -- Dow -86 has rebounded 45 points off the low, S&P -9.6, Nasdaq Comp -18 Briefing.com 03:00PM  Companies Keep Hoarding Cash: Stock Buybacks Slowed Last Quarter at The Wall Street Journal 02:35PM  Companies Keep Hoarding Cash: Stock Buybacks Slowed Last Quarter at The Wall Street Journal 02:15PM  Democrats to Seek Confirmation of Fed, FDIC Nominees Before Week's End at The Wall Street Journal 02:12PM  InPlay: Stock indices slide under midday/afternoon lows -- Dow -122, S&P -14, Nasdaq Comp -31 Briefing.com 01:26PM  InPlay: Limited bounce attempt after midday extension for stock indices with Nasdaq Comp -29 recently setting a new low Briefing.com 01:21PM  JPMorgan: We Asked Corzine If The Money Was Really His To Transfer at Forbes 01:15PM  Tepid Demand For 5-Year Auction at The Wall Street Journal 01:05PM  Midday Market Report: Oil Supplies Grow Unexpectedly, Stocks Falter at Minyanville 12:41PM   CEOs Expects Marked Economic Improvement This Year at The Wall Street Journal 12:33PM  Goldman Sachs: Buy Gold! at The Wall Street Journal 12:28PM  Stocks Tumble, Treasurys Rally Ahead of Five-Year Note Sale at The Wall Street Journal 12:19PM  InPlay: Stock indices attempting to stabilize after sharp slide into midday -- Dow -80, S&P -10, Nasdaq Comp -21 Briefing.com 12:02PM  Goldman Sachs: Buy Gold! at The Wall Street Journal 12:01PM   InPlay: Slow but steady slide below first hour range extended further -- Dow -62, S&P -9, Nasdaq Comp -17 Briefing.com 11:40AM  [video] Traders Cooling Heels for Thursday at TheStreet 11:39AM  [video] Manufacturing Continues to Expand at TheStreet 11:35AM   The Rich Consider Pulling Out of Stocks at The Wall Street Journal 11:29AM  Will financials lead the way higher? at MarketWatch 11:27AM  Index, ETF option volumes near midday optionMONSTER 11:01AM  Treasury to Cut Costs by Remaking Coins, Replacing Paper at The Wall Street Journal 10:44AM  Are Millionaires Pulling Out of Stocks? at The Wall Street Journal 10:42AM  Threats To The Bull Market In Stocks at Forbes 10:24AM  Durable Goods Orders: 'No Signs of Manufacturing Boom' at The Wall Street Journal 10:23AM   Secondary Sources: Foreclosures, U.S. vs. U.K. Recovery, Saving Rate at The Wall Street Journal 10:12AM   Random Thoughts: A Quarter-End Bender Approaches at Minyanville 09:54AM  Durable Goods Orders: 'No Signs of Manufacturing Boom' at The Wall Street Journal 09:38AM  InPlay: Mixed to mildly favorable start for stock indices with some improvement developing in recent trade -- Dow +11, S&P +0.8, Nasdaq Comp +7.6 Briefing.com 09:31AM  Stocks to Watch: Pentair, Synnex, Robbins & Myers at The Wall Street Journal 09:27AM  Morning Links: Is QE3 Coming? at The Wall Street Journal 09:18AM   Breaking Down Durable Goods Orders at The Wall Street Journal 08:44AM  Family Dollar Stores Inc. Earnings: Powering Ahead at Wall St. Cheat Sheet 08:27AM  Vital Signs: Consumer Confidence Slips at The Wall Street Journal 08:24AM   [video] Traders Look to Reposition as the First Quarter Winds Down at TheStreet 07:38AM  Zacks' Voice of the People highlights opportunities with The SPDR S&P 500 ETF, Apple and Amazon.com Zacks 07:30AM   As the Supreme Court Mulls Health-Care Reform, the Sector Looks Cheap Morningstar06:19AM  MorningMarketBeat:WhenWillEarningsMatterAgain?WSJ

 

AP Business Highlights 

...Yahoo Market Update…

 

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                                                                       { some prior links of current interest }

 

A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm,  20 Signs You Might Be A Typical American Worker  http://albertpeia.com/20signsoftypicalamericanworker.htm , 10 Signs That America Is Decomposing Right In Front Of Our Eyes   http://albertpeia.com/10signsamericadecomposing.htm , 8 Reasons Why The Greek Debt Deal May Not Stop A Chaotic Greek Debt Default   http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm , 55 Interesting Facts About The U.S. Economy In 2012   http://albertpeia.com/55factsaboutus2012economy.htm  ,  http://albertpeia.com/debtpercapita.jpg  , Double-dip recession setting in across eurozone: EU , America 1950 vs. America 2012    http://albertpeia.com/downhillslideofamerica.htm , Society’s Five Stages of Economic Collapse  http://albertpeia.com/5stagesofcollapse.htm ,  No Housing Recovery - Case Shiller Shows 8th Consecutive Month Of House Price Declines, Goldman: Germany Is Now On The Hook By €1 Trillion (Or 40% Of GDP), 20 Economic Statistics To Use To Wake Sheeple Up From Their Entertainment-Induced Comas  http://albertpeia.com/20ecostatstowakesheeple.htm  , Central bank balance sheet expansion since end 2007  Mar 1st, 2012 by News (ZeroHedge) — SNB +230%; Fed +222%, BOJ +125%, BOE +87%, PBOC +93%, ECB +51%. USA Gold / PG View: Pretty strong evidence that the rally in bonds — and by extension the rally in stocks — is nothing but a charade. , 10.7 Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last Recession  http://albertpeia.com/europeunemploymentworsethanrecession.htm , Inflation Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us   http://albertpeia.com/inflationisatax.htm  , 15 Potentially Massive Threats To The U.S. Economy Over The Next 12 Months  http://albertpeia.com/15massivethreatstoeconomy.htm , 1 Through 30 – The Coming U.S. Financial Crisis By The Numbers http://albertpeia.com/1-30usfinancialcrisiscoming.htm Greece Has Defaulted - Which Country In Europe Is Next?    http://albertpeia.com/greecehasdefaultedwhonext.htm , Five Charts That Prove We’re in a Depression and That the Federal Reserve and Washington Are Wasting Money gpc1981  http://albertpeia.com/usindepressionfedandgovwastingmoney.htm  , Broken Promises: Pensions All Over America Are Being Savagely Cut Or Are Vanishing Completely .http://albertpeia.com/uspensionscutorvanishing.htm  , America Is Being Transformed From A Wealthy Nation Into A Poor Nation At Breathtaking Speed   http://albertpeia.com/ustransformedfromwealthytopoor.htm , ECRI Stays with Recession Call  New American | The vicious cycle is starting where lower sales, lower production, lower employment and lower income [leads] back to lower sales…BOB ADELMANN New American Tuesday, March 13, 2012 http://albertpeia.com/ecricallsrecession.htm , Consumer prices rise on high gas costs But outside higher pump prices, inflation stayed mild. (Washington Post) [ Wake up! They’d have a hard time denying what’s in plain sight for everyone to see. Yet, apparently they’ve not gone grocery shopping lately; you know, all that catered food for fools in Washington.  , Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen In late 2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year.  I now see a similar confluence of events that warns of phase II of the global crisis… My work shows that “the new recession has started.”… Over the past 33 years, we have called the start of every recession, often on the exact month, or within one month, of the official start as determined one year later by the official arbiter of recession, the National Bureau of Economic Research (NBER)… However, inflation is far understated for political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore, what is counted as “growth,” is actually price increases. Actual inflation, according to free market economists who calculate inflation as it was done in 1980 before the politician re-engineered it, is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’ , Conned 2012: Joseph Kony Is A CIA Contractor  [ Yeah, cia, mossad, kony, they look like and are a bunch of spooks. ] Saman Mohammadi | Former European MP, journalist, and author Richard Cottrell says Lord Resistance Army is backed by CIA and Mossad. , 11 Reasons Why America Would Be A Better Place Without Goldman Sachs [ If only it was just 11 and not an endless number of reasons why the aforesaid is true! And, though america particularly, not just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.com  , The Obama Flag: Who Decided That It Was Okay To Replace The Stars On The American Flag With The Face Of Barack Obama? http://endoftheamericandream.com http://albertpeia.com/monkeyflag.htm   [Aside from the desecration issues, from a purely aesthetic perspective, that picture on the flag of that ugly monkey obama is an absolute disgrace and affront to any rational person’s aesthetic sensibilities!] , Who Decided That It Would Be A Good Idea.... http://albertpeia.com/misplacedfaith.htm  , As US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds Trail 2011Guest Post: Money from Nothing - A Primer On Fake Wealth Creation And Its Implications (Part 1)What is fraud except creating “value” from nothing and passing it off as something? Frauds interlink and grow upon each other. Our debt-based money system serves as the fraud foundation. In our debt-based money system, debt must grow in order to create money. Therefore, there is no way to pay off aggregate debt with available money. More money must be lent into the system to make the payments for old debts. This causes overall debt to expand as new money for actual people (vs. banks) always arrives at interest and compounds exponentially. This process is called financialization. Financialization: The process of making money from nothing in which debt (i.e. poverty, lack) is paradoxically considered an asset (i.e. wealth, gain). In current financialized economies “wealth expansion” comes from the parasitic taxation of productivity in the form of interest on fiat lending. This interest over time consumes a greater and greater share of resources, assets, labor, and livelihood until nothing is left., Guest Post: Money from Nothing - A Primer on Fake Wealth Creation and its Implications (Part 2) Only in a debt-based money system could debt be curiously cast as an asset. We’ve made “extend and pretend” a quaint phrase for a burgeoning market for financial lying and profiteering aimed toward preventing the collapse of a debt- (or lack-) based system that was already doomed by its initial design to collapse. , Guest Post: The Audacity of Bonuses At MF GlobalIn the spirit of George Orwell’s Animal Farm commandment: “all animals are equal, but some animals are more equal then others” comes the galling news that bankruptcy trustee, Louis Freeh, could approve the defunct, MF Global to pay bonuses to certain senior executives. This, despite the fact that nearly $1.6 billion of customer funds remains “missing” or otherwise partially accounted for, yet beyond the reach of those customers, perhaps forever, since before the firm declared bankruptcy on October 31, 2011... ,