Business Summary Links By Day

 

 

 

 

Eric Holder To Be Held In Contempt Of Congress? Tyler Durden ZeroHedge.com 5-3-12 http://albertpeia.com/ericholderincontemptofcongress.htm  While normally we stay away from outright political commentary especially of the kind that has no direct relation to finance or the economy, the fact is that if the US had a functioning, uncompromised, uncorrupt, and effective Justice Department, much of what we see every day on Wall Street would be vastly different since if crime did indeed have punishment, then a vast portion of the questionable behavior that is exhibited by financiers would have been eliminated long ago. Which is why we find the news just released from The Hill that "Rep. Darrell Issa (R-Calif.) has circulated a draft copy of a resolution that would hold Attorney General Eric Holder in contempt of Congress" particularly relevant. For it is none other than Holder's complete lack of involvement and intervention to outright daily crimes conducted in the financial world that is as much a reason for the deplorable economic state of this country and the world, as are all those other factor extensively discussed in books and documentaries each and every day.  , Why You Shouldn't Trust Tomorrow's BLS Number While much has been written on the revisions, adjustments, and just-plain-guesses that make up the BLS' non-farm-payroll data, the frustration levels are building in the Bay Area as Charles Biderman provides the most in-depth discussion of why we need a better press corps. The simple truth, as Charles notes, is that even the BLS doesn't believe its own hype (in its footnotes) and while mainstream media and talking heads will quote the unemployment rate or NFP change as if it was transcribed by the hand of God, it is in fact an extremely ill-formed, very narrow survey with such huge statistical noise as to be entirely useless. However, while every human should watch this brief clip before buying that 100-lot ES milliseconds after the release tomorrow, we suspect, as usual, it will be algos-gone-wild no matter how many sigma we beat or miss. , There Are 100 Million Working Age Americans That Do Not Have Jobs  http://albertpeia.com/100millionworkingageamericansdonthavejobs.htm  , 16 Signs That People Are Becoming Stupider  http://albertpeia.com/16signspeoplebecomingstupider.htm  , The Fed and the ECB’s Hands Are Politically Tied… Bye Bye Market Props May 4, 2012 By gpc1981  http://albertpeia.com/sharpcorrectioncoming.htm  ,  Merkel’s In Hot Water… So No More Bailouts… Sorry Spain  http://albertpeia.com/merkelsinhotwaternomorebailouts.htm , Dave’s Daily http://etfdigest.com BULLS GET NERVOUS BEFORE EMPLOYMENT DATA 5-3-12 ‘We saw a sharp afternoon sell-off as bulls rushed to the sidelines. Remember, with data remaining light it’s easy for algos to push markets around.There were some troubling “tells” that things weren’t quite right for bulls. Commodities were hard hit which spilled over into the troubled Materials (XLB) sector. Commodity Tracking ETF (DBC), Gold (GLD) and Crude Oil (USO) were all struggling even before selling took markets lower. These laggards combined with rising bond prices and a higher dollar made for a bearish cocktail as nervousness over everything consumed traders.Europe was much higher early in the session only to fade to red as the session wore on.Jobless Claims (365K vs 378 expected & prior revised higher from 388K to 392K) was bullish. Then ISM Non-Mfg Index data (53.5 vs 56 expected & prior 56) was a disappointment. These two readings combined for a murky outlook and created more nervousness. The bottom line: conviction is weak.Today’s report will be light since Friday’s Non-Farms Payroll will make the week one way or another.Volume once again picks up on selling as no doubt trailing stops were hit amplifying the move lower. Breadth per the WSJ was quite negative…’ , Our central bankers are intellectually bankrupt (Financial Times) — The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers.Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised economic planning have largely been rejected by free-market economists, the myth persists that central banks are a necessary component of market economies.These economists understand that having wages or commodity prices established by government fiat would cause shortages, misallocations of capital and hardship. Yet they accept at face value the notion that central banks must determine not only the supply of one particular commodity – money – but also the cost of that commodity via the setting of interest rates.Printing unlimited amounts of money does not lead to unlimited prosperity. , ECB Holds Rate; Mario Draghi Sees ‘Downside Risks’ 

 

 

 

03-May-12 09:16PM  Inflows for fixed income funds a safety move-Lipper at Reuters 08:25PM  Inflows for fixed income funds a safety move-Lipper at Reuters 08:09PM  Inflows for fixed income funds a safety move-Lipper at Reuters 06:16PM  Tilson Wins Some (Barnes & Noble) and Loses Some (Netflix) at The Wall Street Journal 05:41PM  Are Bulls Resting Before the Next Run? at Wall St. Cheat Sheet 05:25PM  Tilson Wins Some (Barnes & Noble) and Loses Some (Netflix) at The Wall Street Journal 05:18PM  Train Reading: Green Mountain Sells Out Sell-Side at The Wall Street Journal 05:17PM  Protesters Target Buffett Meeting To Air Burlington Concerns at The Wall Street Journal 04:57PM  LinkedIn Earnings: Numbers Look Good, and a Deal to Boot at The Wall Street Journal 04:47PM  Protesters Target Buffett Meeting To Air Burlington Concerns at The Wall Street Journal 04:45PM   MARKETS FALL, NASDAQ GETS HAMMERED: Here's What You Need To Know Business Insider 03:53PM  Europe's Tour de Farce at The Wall Street Journal 03:33PM  Green Mountain Bulls Say Wake Up and Smell the Coffee at The Wall Street Journal 03:27PM  InPlay: Final hour bounce with Dow -56 pushing as much as 40 points off its low -- S&P -9, Nasdaq Comp -30 Briefing.com 03:21PM  Productivity Slowdown to Linger at The Wall Street Journal 03:03PM  No Pop for Carlyle IPO at The Wall Street Journal 02:53PM  Stocks Sliding, S&P 500 Toying With 50-Day Moving Average at The Wall Street Journal 02:48PM  InPlay: Minor new afternoon lows -- Dow -92, S&P -13, Nasdaq Comp -43 Briefing.com 02:14PM  David Einhorn's Hat Trick: Herbalife, Green Mountain, the Fed at The Wall Street Journal 02:09PM  Fed Officials Expect Continued Growth, Low Inflation at The Wall Street Journal 02:09PM  Midnight in Europe at The Wall Street Journal 02:07PM  Einhorn Taps Homer Simpson To Blast Bernanke's 'Jelly Donut Policy' at Forbes 02:05PM  [video] Investor Excitement Level: Low at CNBC 01:47PM    InPlay: Stock indices drift to new session lows after brief midday pause -- S&P -8.5 and Nasdaq Comp -31, Dow -53 Briefing.com 12:43PM  Break Out the Rally Caps: Natural Gas Keeps Climbing at The Wall Street Journal 12:14PM  Not For the Faint of Heart: Chesapeake Energy the Risk Trade Du Jour at The Wall Street Journal 12:08PM  InPlay: S&P -7.3 joins Nasdaq Comp -27 at new session low, Dow -42 hovering just above its morning low Briefing.com 11:54AM  Stock Traders Wait Nervously for Jobs Report at The Wall Street Journal 11:49AM  InPlay: New session low for Nasdaq Comp -21 led by Semi SMH -1.2% Briefing.com 11:29AM  [video] Trader Long Ahead of Jobs Report at TheStreet 11:23AM   Index, ETF option volumes near midday optionMONSTER 11:16AM  Index, ETF option volumes near midday optionMONSTER 11:01AM  Green Mountain Shares Tank, Future Growth in Doubt at The Wall Street Journal 10:55AM  Best of the Blogs: The End of the Crude Oil Powerhouses? at Minyanville 10:50AM  Green Mountain Shares Tank, Future Looks Grim at The Wall Street Journal 10:31AM  Pepsi Hopes King of Pop Can Add Pop to Sales at The Wall Street Journal 10:28AM  Gold Price Drops Three Straight Months For First Time Since 2001 at Forbes 10:23AM  Pepsi Hopes King of Pop Can Add Pop to Sales at The Wall Street Journal 10:23AM  InPlay: Stock indices continue to weaken, S&P -6.8 within 2 points of Wed low -- Dow -52. Nasdaq Comp -16 Briefing.com 10:16AM  Secondary Sources: Jobs Gap, Yuan Flexibility, Consistent Bernanke at The Wall Street Journal 10:14AM  Progress Energy Inc. Earnings: Falls Short of Expectations at Wall St. Cheat Sheet 10:05AM  Time Warner Inc. Earnings Cheat Sheet: Margins Suffer as Costs Rise, Profit Falls Wall St. Cheat Sheet 10:04AM  Comcast Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Revenue Growth Wall St. Cheat Sheet 09:49AM  Apache Corp Earnings: Snaps Strong Streak with Profit Drop Wall St. Cheat Sheet 09:49AM  American Tower Corporation Earnings: Beats Expectations at Wall St. Cheat Sheet 09:45AM  ECB Saves Its Bullets, Warns It Won't Cough Up More Cash For Banks at Forbes 09:32AM  Stocks to Watch: Green Mountain, Mitek, Weight Watchers at The Wall Street Journal 09:30AM  Verizon and SPDR S&P 500 ETF Among Most Active Stocks in Pre-Market Today on the NYSE at Minyanville 09:29AM  World Food Prices Moved Lower in April at The Wall Street Journal 09:20AM  Pre-Market Primer: Jobless Claims Drop the Most in One Year at Minyanville 09:19AM  Even After Jobless Claims, Jobs Picture Isn't Pretty at The Wall Street Journal 09:12AM  More Consumers Plan Summer Travel as Sentiment Improves at The Wall Street Journal 09:08AM  Morning Links: Nothing to Like About Stocks? at The Wall Street Journal 08:51AM   Vital Signs: Slower Private Jobs Growth at The Wall Street Journal 08:36AM   [video] Positioning Ahead of the Employment Report at TheStreet 07:21AM   Morning MarketBeat: Resilient Euro Faces Test at The Wall Street Journal

 

 

 

Max Keiser on OWS, Financial Repression & Confronting Obama

Luke Rudkowski | Luke interviews Max Keiser at Bryant Park on the greatest financial crimes the system has committed.



The 86 million invisible unemployed

Annalyn Censky | There are far more jobless people in the United States than you might think.

 

GM’s sweetheart tax deal

CNN | The U.S. Treasury is giving up $14 billion in tax revenue because of a sweetheart deal it’s giving General Motors.



The Size And Strength of Banks Is Detrimental

Bob Chapman | Real estate investors competing to buy Manhattan apartment buildings have sent prices to record highs.



Why New York Times Economist Paul Krugman Is Partly Right But Mostly Wrong

The Economic Collapse | Krugman has been doing a whole bunch of interviews in which he has declared that the solution to our economic problems is very easy. http://albertpeia.com/nyteconomistkrugmanwrong.htm



Political Pushback to Austerity in Europe is Increasing

New American | The election run-off in France this week and those following in quick succession should prove the point: back off!

 

 

 

 

AP Business Highlights 

...Yahoo Market Update…

Metal News for the Day

 

 

 

Impeach Obama 2012. Join the National Campaign

Infowars.com | Now is the time to put an end to Obama’s treasonous and tyrannical behavior.

http://albertpeia.com/impeachobama.htm

Nancy Pelosi Wants to Amend the First Amendment Kurt Nimmo | When Pelosi says “special interests,” she means interests opposed to establishment Democrats. [ Here’s a look at the pelosi / wobama styled new california  ( 16 Reasons To Move Away From California  http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm  ) . pelosi’s incompetent / senile in that chronological order. At this point, wobama the b for b***s*** is just incompetent but acts and seems as if he’s senile, particularly with regard to previous things he’s said and prior promises that he’s made. ]

 

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                                                                       { some prior links of current interest }

 

A Warning Sign For The World  http://albertpeia.com/warningsignfortheworld.htm, Inventor of World Wide Web Savages Government’s Big Brother Plans  http://albertpeia.com/bernersleeantibigbrotherwebintrusion.htm , 16 Reasons To Move Away From California  http://albertpeia.com/16reasonstomoveawayfromcalifornia.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 , New Obama Executive Order Pushes Us Closer To A North American Union And A One World Economic Systemhttp://albertpeia.com/wobamaexecorderforoneworldgovernment.htm { The truly astounding thing here is that without exception, these respective nations, from largest to smallest, can’t even manage themselves, their own nations properly, efficiently; and then there’s the inevitable corruption, ‘bigger and better?’. Come on! More obfuscation! In a world such as this, human nature being what it is, ‘bigger is definitely not better’! They’re pushing on a string! Time for accountability! Time to pay the piper! Additionally, people must come to grips with the reality that wobama hasn’t the slightest idea what he’s doing; hence, the over-vacationed teleprompter reader whose ‘handlers’ have literally taken over policy, with some ‘slick’ maneuvering to try and repackage him; ultimately to no avail inasmuch as his disastrous results at home and abroad speak volumes. If only he had done what he said he was going to do last campaign, this nation and the world would have been in a better position today! } , Military Winning War Over Pensions Bruce Krasting 05/02/2012 Why is the Military Retirement Fund exploding higher? http://albertpeia.com/militarypensiondebacle.htm , This Is the First Time In History that All Central Banks Have Printed Money at the Same Time … And They’re Failing Miserably Washington’s Blog | Simultaneous Global Printing Is Failing Miserably. Why New York Times Economist Paul Krugman Is Partly Right But Mostly Wrong http://albertpeia.com/nyteconomistkrugmanwrong.htm  , NBER's Martin Feldstein Bashes The Deplorable US Economy, Says Bernanke Has Engineered Another Stock Bubble Tyler Durden 5-2-12 , Hugh Hendry On Europe "You Can't Make Up How Bad It Is" ,  Biderman Makes Friends: "Bankers Are As Dumb As Politicians" , Guest Post: 3 Likely Triggers Of The Next Recession {  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 ..the new recession has started.”… Over the past 33 years, we have called the start of every recession..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..is now more than 11%. Using that to adjust GDP for inflation, would show that the economy is now in a very sharp contraction…’ }   ] , Zuckerman To CNBC: "The Recession Never Ended" 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 , Chimps Throwing Poop And 29 Other Mind Blowing Ways That The Government Is Wasting Your Money  http://albertpeia.com/whydochimpslikeobamasthrowpoop29waysgovernmentwastesmoney.htm  , Failed Wobama model illustrated: 16 Reasons To Move Away From California  http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm  , No Housing Recovery Until 2020 In 5 Simple Charts
http://albertpeia.com/nohousingrecoveryuntil2020in5charts.htm
, The Mother Of All Infographics: Visualizing America's Derivatives Universe   Fasten Your Seatbelts: High Frequency Trading Is Coming To The Treasury Market    [ , 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... ,