Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com VOLATILITY INCREASES WITH EUROZONE RISK
5-30-12 ‘Wash,
rinse and repeat seems to be the way markets are rolling. Last week we had an
early oversold Monday rally followed by furious propping to close the week.
Tuesday we opened higher and then reversed. Wednesday once
again. Friday’s payroll report might be good news for the QE crowd (if
weak) and great news if “good” perhaps. Odd stuff, eh?China
stocks fell as the government stated there won’t be a $350
billion stimulus package. Italy’s
bond auction met with poor demand as contagion fears spread. Bankia’s government takeover still meets with uncertain
financing needs as Spanish banks saw €31 billion in outflows this month.U.S. Pending Home Sales fell (-5.5% vs 4.1% prior) which didn’t help U.S. markets even though some
thought more QE would be the outcome. The Fed’s Fisher chimed-in that the Fed
wasn’t the problem but “feckless” (code for “gutless”) politicians.To
placate the base and his green energy pals, the Obama Administration levied
duties on wind towers from China.
You see they can manufacture this kind of stuff (solar, wind and etc) more
cheaply than the Solyndra’s of the world. U.S.
consumers will bear the cost for this.Word has it the
10-year Treasury bond (IEF) posted a 200 year low in yield (1.60%). How strange
it is to lock-up money for 10 years at what is currently a negative yield plus
take duration risk.Commodities (DBC) & (USO) etc.
continue to take a drubbing as the world spins toward some form of recession or
worse. Gold (GLD) on the other hand may finally disconnect from its normal
inverse relationship with the dollar (UUP) as both rallied Wednesday. This may
be due to the notion that the eurozone could break
apart. There were rumors today that Germany
could bolt from the euro and EMU before Greece. That’s an idea that needs
to be road tested.Tuesday’s rally was completely
undone and it’s pointless to point the litany of falling sectors.Volume
was similar to Tuesday’s buying while breadth per the WSJ was negative…’ , How
The Super Rich Avoid Taxes Even As They Demand That The Rest Of Us Pay More http://albertpeia.com/taxesyoupaytheirway.htm
{As I’ve previously said, President Romney would be less than rational to tell
his tax advisors ‘to take a dive’ when it comes to his financial planning.
Importantly, it should be noted that up to now, President Romney has not been
part of the federal system (unlike obama, kerry, etc.) that sets federal tax policy / laws.} , The
Second Act Of The JPM CIO Fiasco Has Arrived - Mismarking Hundreds Of Billions
In Credit Default Swaps ZeroHedge.com Tyler Durden 5/30/12 As anyone
who has ever traded CDS (or any other OTC, non-exchange traded product) knows,
when you have a short risk position, unless compliance tells you to and they
rarely do as they have no idea what CDS is most of the time, you always mark the EOD price at the
offer, and vice versa, on long risk positions, you always use the bid. That way the P&L always
looks better. And for portfolios in which the DV01 is in the hundreds of
thousands of dollars (or much, much more if your name was Bruno Iksil), marking at either side of an illiquid market can
result in tens if not hundreds of millions of unrealistic profits booked in
advance, simply to make one's book look better, mostly for year end bonus
purposes. Apparently JPM's soon to be fired Bruno Iksil was no stranger to this: as Bloomberg
reports, JPM's CIO unit "was valuing some of its trades at prices that
differed from those of its investment bank, according to people familiar with
the matter. The discrepancy between prices used by the chief
investment office and JPMorgan’s credit-swaps dealer, the biggest in the U.S., may have obscured by
hundreds of millions of dollars the magnitude of the loss before it was
disclosed May 10, said one of the people, who asked not to be
identified because they aren’t authorized to discuss the matter. "I’ve never run into anything like that,”
said Sanford C. Bernstein & Co.’s Brad Hintz in New York. “That’s why you have a centralized
accounting group that’s comparing marks” between different parts of the bank
“to make sure you don’t have any outliers” .... Jamie Dimon's "tempest
in a teapot" just became a fully-formed, perfect storm which suddenly
threatens his very position, and could potentially lead to billions more in
losses for his firm. , Greek
Pensioner Hangs Himself In Protest That "Greece Will Be Wiped Off The
Map" , Spain: Bankia Down, Who Is Next? , Time
To Load Up On Denmark CDS - Moody's Cuts Nine Danish Financial Institutions:
Luxor Thesis In Play , Gold
Rips And Stocks Dip As Risk Assets Recouple To
Reality , The Facebook Backlash Begins , FaceBerg Diverges From Founder Age , The
Good, Bad, And Ugly Of Emerging Markets
, Lagarde On Taxes And Diplomacy: It's All TurboTax To Me , JPM Max Pain At
6 Month Highs , HoLD oN To YouR
FACES FoLKs williambanzai7
This is some scary sh**! , Bracing
for a Euro Crash and Creating A Housing Bubble: The Swiss Caught in a Vice
testosteronepit Long-time
euro-skeptic and President of the Swiss National Bank unloads , Europe
Is About to Implode... Are You Ready? Phoenix Capital... We're talking about a banking system that is nearly four
times that of the US ($46 trillion vs. $12 trillion) with at least twice the
amount of leverage (26 to 1 for the EU vs. 13 to 1 for the US... ‘(Summers: )I've warned
time and again that the EU would collapse in May-June. That collapse is here
right on schedule. And NO ONE will be able to stop it.
Here's why:
1)
According to the IMF, European banks as a whole are leveraged at 26 to 1 (this
data point is based on reported loans... the real leverage levels are
much, much higher.) These are a Lehman Brothers leverage levels.
2) The
European Banking system is over $46 trillion in size
(nearly 3X total EU GDP).
3) The
European Central Bank's (ECB) balance sheet is now nearly $4 trillion in size
(larger than Germany's
economy and roughly 1/3 the size of the ENTIRE EU's GDP). Aside from the
inflationary and systemic risks this poses (the ECB is now leveraged at over 36
to 1).
4) Over a
quarter of the ECB's balance sheet is PIIGS' debt
which the ECB will dump any and all losses from onto national Central Banks
(read: Germany)
So we're
talking about a banking system that is nearly four times that of the US ($46
trillion vs. $12 trillion) with at least twice the amount of leverage (26 to 1
for the EU vs. 13 to 1 for the US), and a Central Bank that has stuffed its
balance sheet with loads of garbage debts, giving it a leverage level of 36 to
1.And all of this is occurring in a region of 17 different countries none of
which have a great history of getting along... at a time when old political
tensions are rapidly heating up (see Germany and France's recent butting of
heads over fiscal policy).So if you’re not already taking steps to prepare for
the coming collapse, you need to do so now. The US will not escape from this
unscathed. No one will. The global banking system is too interconnected: some
estimates put US
exposure in the ballpark of several TRILLION Dollars.Again
if you are not preparing for this, YOU NEED TO DO SO NOW…’
The Third World
Is Giving Up On Europe , Guest
Post: "Big Idea Solution": Radically Lower The Cost Basis Of The
Entire Economy We are constantly told all our problems are too
complex to be addressed with simple "big idea" solutions.
Complex problems require complex solutions, we are assured, and so the
"solutions" conjured by the Central State/Cartel Status Quo are so
convoluted and complex (for example, the 2,319-page Dodd-Frank Wall Street
Reform and Consumer Protection Act or the 2,074-page Obamacare
bill) that legislators say they must "pass the bill to see what's in
it." The real "solution"
is to see that complexity itself is the roadblock to radical reformation of
failed systems. Complexity is the subterfuge the Status Quo
uses to erect simulacra "reforms" while further consolidating their
power behind the artificial moat of complexity. Over the next three days, I will present three "big idea"
solutions that cut through the self-serving thicket of complexity.
Nature is complex, but it operates according to a set of relatively simple
rules. The interactions can be complex but the guiding principles can be, and
indeed, must be, simple. Big Idea One:
Radically lower the cost basis of the entire U.S. economy. The
cost basis of any activity is self-evident: what are the total costs of the
production of a good or service? The surplus produced is the net profit which
can be spent on consumption or invested in productive assets (or squandered in
mal-investments). , European
Bloodbath Continues , Einhorn Eviscerates Buffet: "If You Wrap Up All $100
Bills In Circulation, It Would Form A Cube 74 Feet Per Side" , Europe's
Got 99 Problems And A Deposit Guarantee Scheme Is One , I
Drink EUR Milkshake: European Currency Plunge Continues , And
The Hits Just Keep On Coming: Spain Sees €31 Billion Deposit Outflow In April , Is
The End Nigh: Rockefellers And Rothschilds Merge
05:40PM Investors Keep Yanking Cash Out of Stock Funds at The Wall Street Journal 05:36PM [video] Bears Kick Bulls to the Sidelines at TheStreet 05:16PM Investors Keep Yanking Cash Out of Stock Funds at The Wall Street Journal 04:31PM David Einhorn: Hedge Funds Are
Underweight Apple at
The Wall Street Journal
04:20PM MARKETS TANK, EUROPE GETS CRUSHED: Here's What You Need To Know
Business Insider 03:56PM The Foundation of all Options Strategies Puts and Calls Wyatt Investment Research 03:52PM Analysis: For U.S. traders, Europe's close is time to buy Reuters 03:51PM David Einhorn: Hedge Funds Are
Underweight Apple at
The Wall Street Journal
03:34PM Merrill Lynch Skeptical Congress Will Avoid 'Fiscal Cliff' at TheStreet 03:00PM Ripe for a Rally? One Strategist Says Yes at The Wall Street Journal 02:46PM Wednesday's Biggest ETF Winners And Losers at Investor's Business Daily 02:02PM Where is Our Friend the Trend? ETF Trends 01:58PM InPlay:
Nasdaq 100/Comp are pacing the afternoon bounce, Dow
-130 and S&P -15 are hovering near their intraday rebound highs Briefing.com 01:48PM Where is Our Friend the Trend? ETF Trends 01:24PM Spanish Bonds, Oh Ma Corazón! at Forbes 01:01PM Spanish Bonds, Oh Ma Corazón! at Forbes 12:57PM Wait For Facebook 'Tsunami' to
Subside, Mary Meeker Says at
The Wall Street Journal
12:09PM It's A 'Flight To Safety, Whatever The Cost' at The Wall Street Journal 12:06PM InPlay:
Dow -161 and S&P -19 slip below narrow intraday range to set new session
lows -- Nasdaq Comp -41 hovering just above its low
Briefing.com 12:03PM Barclays Recommends Investors Play Defense at Forbes 11:30AM It's A 'Flight To Safety, Whatever The Cost' at The Wall Street Journal 11:25AM 10-Year Note Yield Hits All-Time Low at Minyanville 11:04AM InPlay:
Fractional new session lows for stock indices, limited follow through pressure
thus far -- Dow -154, S&P -17, Nasdaq Comp -40
Briefing.com 10:59AM [video] Europe's Pain is the Dollars Gain at TheStreet 10:56AM Are SUPERVALUs Biggest Supporters
Still Selling or Renewed Believers? at Wall St. Cheat Sheet
10:12AM Fear Drives 10-Year Treasury Yield To Record Low at The Wall Street Journal 10:09AM Fear Drives 10-Year Treasury Yield To Record Low at The Wall Street Journal 10:02AM InPlay:
Dow -147 and S&P -16 slip to new session lows, Nasdaq
Comp -38 still holding above early low Briefing.com
09:37AM InPlay: Stock indices extend weak open back near Tues lows
-- Dow -115, S&P -13.6, Nasdaq Comp -33 Briefing.com 09:35AM SPDR S&P 500 ETF and Bank of America Among Most Active
Stocks in Pre-Market Today on the NYSE at Minyanville 09:29AM Europe Throws a Hail Mary: Incomplete at The Wall Street Journal 09:26AM Morning Links: Gold Losing Safe-Haven Status at The Wall Street Journal 09:25AM SPDR S&P 500 ETF and Bank of America Among Most Active
Stocks in Pre-Market Today on the NYSE at Minyanville 09:24AM Stocks to Watch: Research in Motion, Monsanto, Pep Boys at The Wall Street Journal 09:20AM SPDR S&P 500 ETF and Bank of America Among Most Active
Stocks in Pre-Market Today on the NYSE at Minyanville 09:15AM Pre-Market Primer: European Countries Will Bail Out Their Banks
Collectively at Minyanville
09:13AM Spain Back to the Trouble Zone at The Wall Street Journal 08:50AM Which Sector ETFs Are Cheap? ETF Database 07:10AM Which Sector ETFs Are Cheap? ETF Database 06:10AM Morning MarketBeat: Stock Rally On
Repeat at The Wall
Street Journal
Rockefeller
and Rothschild Merge Financial Operations in America
Infowars.com |
Globalist kingpin David Rockefeller and top bankster
Lord Jacob Rothschild will merge operations.
EU
Titans To Address Euro Crisis At Bilderberg
Paul Joseph Watson |
Globalists fear Greek exit could torpedo single currency.
EU
Commission: Banking union to help sharing the debt burden
RT.com | Could moving eurozone to a banking
union and allowing the European Stability Mechanism to recapitalize banks keep
euro from crumbling?
Peter
Schiff: Slash Government Spending Or Die
Business Insider | The medicine
known as austerity might leave you with a bad taste in your mouth, but the U.S.
government needs to take it in order to survive, says Peter Schiff.
Biggest
Greek bank warns of dire euro exit fallout
Reuters | If Greece left the euro, living
standards would plummet, incomes would be slashed by more than half, and
inflation and unemployment would skyrocket.
Pre-Collapse
Ramp Up: Retailers Stock Up On Shutters, Organize Security Details Ahead of
Financial Meltdown and Social Unrest
Mac Slavo | Many in Europe and around the world are realizing that this
entire system is about to come unhinged.
When
The Derivatives Market Crashes (And It Will) U.S. Taxpayers Will Be On The Hook
The Economic Collapse | Warren
Buffett once said that derivatives are “financial weapons of mass destruction”,
and that statement is more true today than it ever has been before.
AP Business
Highlights
...Yahoo Market
Update…
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. ]
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 Hawaii,
so there's a lot of opportunity to goof off because the weather is really good
all the time …"You know, I made some bad decisions …. You know, got into
drinking and experimenting with drugs. There was a whole stretch of time where
I didn't apply myself. It wasn't until I got out of … high school, and went to
college that I started realizing, man, I wasted a lot of time.”The
New York Times, however, went
out of its way to find Obama’s classmates to testify that drugs played only a “bit
part” in Obama’s youth. Yet Obama would later brag on the campaign trail
that he “inhaled frequently … that was the point.”During
his high school years, Obama hung out with communist radical Frank Marshall
Davis; in 2007, the Los Angeles Times
reported that during his high school days, “he felt the first stirrings of
anger toward whites. He says he also delved into black
nationalism.” He was “offended or even enraged when white classmates
adopted black street slang or revealed their underlying consciousness of his
race by going out of their way to tell him how much they admired a black
musician or athlete.” This activity is certainly more reflective of Obama’s
ideological history than Mitt Romney’s pranks on teachers and fellow students.
And as for the drug use – well, that seems just a bit more serious than walking
a teacher into a door or cutting a student’s hair. But leave it to the Post to ignore or downplay all of that in
favor of continuing stories about Romney’s dog, his high school hijinks, and whatever other nonsense they can use to
protect President Obama from his own incompetence.’ Ben Shapiro is Breitbart
News Editor-at-Large. Follow him on twitter @benshapiro.
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.
Washington Post Disgraces Itself By Targeting Romney's 'Anti-Gay'
High School Pranks by Ben Shapiro { It
is true! The once great now failed newspaper, the washington
post, is an absolute
disgrace! But a shadow of its former self, the post is biased
presumably owing to shared desperation with the failed president wobama in return for access. So egregious had the bias
become wherein ‘sensitive’ commentary antithetical to wobama
and his, seldom seemed to work/post properly; and, then of course, the post’s pro-wobama
perpetual darkness-induced blind ‘constituency’. I stopped posting
there and have not visited their site since nor will I ever again. A
rather pathetic swansong /
end /
wind-down /
final chapter for what was once a great newspaper for which I had the utmost regard and respect! }
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 California http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm
Postal Service loses $3.2b in first
quarter...
78% of California 8th graders fail
national science test...
_______________________________________
{ some prior links of current interest }