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, 2012 Durden 3-28-12 Earlier 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 Durden 3-28-12 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 Durden 3-28-12 , Europe
Leaks It Will Fix Crushing Debt Problem With €940 Billion Of More EFSFESM Debt Durden 3-28-12 ,
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 Charts Durden 3-28-12 You 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 Hearing Durden 3-28-12 Today
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 Durden 3-28-12
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 }