Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com BIG WEDNESDAY SHORT SQUEEZE
6-6-12 ‘There wasn’t much in the way of “hard news” to account for Wednesday’s
large stock market rally beyond oversold conditions. The ECB left interest
rates unchanged. Germany
did mumble something about helping Spanish banks in some undefined manner. And,
in a show of defiance or cluelessness, France
cut the retirement age to 60.The U.S. Productivity & Cost report was
negative (-.9% vs. -.8% expected & prior -.5%). Some bulls spun this as
showing employers would be willing to hire more. That seemed a stretch. Other
bulls spun it to mean more QE certainly.The Fed’s Beige Book report released
this afternoon reflects old data from the spring which as most know showed
growth as moderate. There was nothing new in the report.Fed governors were out
and about jawboning markets and having their say. Atlanta Fed President Dennis Lockhart (voting
member) hinted at more accommodation; SF Fed Chief John Williams (voting
member) wanted more accommodation; and, Vice-Chair Janet Yellen is scheduled to
speak this evening. They’re warm-up acts for Thursday’s Bernanke’s
congressional speech.Below is a quote in the conclusion of Richard Fisher’s
(Dallas Fed President & non-voting member) speech which was little noted
but struck a nerve nonetheless with yours truly: “And there is a growing sense that we are
unwittingly, or worse, deliberately, monetizing the wayward ways of Congress. I
believe that were we to go down the path to further accommodation at his
juncture, we would not simply be pushing on a string (in other words, futile) but would be viewed as an accomplice to the
mischief (corruption, fraud, incompetence, malfeasance, etc.) that has become synonymous with Washington.” Everything down reversed course and then rallied causing some serious
short-squeezes. Bonds (IEF) sold-off; commodities (DBC), (USO) & (JJC)
rallied; the dollar (UUP) fell; gold (GLD) rose etc. There is little sense
pointing out which were the leading sectors—they all were. Volume on this
short-squeeze Wednesday was moderate and breadth per the WSJ was quite positive
and likely a 90/10 day…’ , Morgan
Stanley Sees QE3 Rally Lasting Hours Not Weeks Zerohedge.com Tyler Durden
, Form
Worst To First - S&P Has Best Day Of 2012 Shortly After Worst , On
Capital Markets, Confidence Tricks, And Criminals ‘…examples of common street scams around the world. The comparisons he
makes to recent events in the capital markets are fairly obvious, whether they be failed IPOs or the strategies used by weaker sovereign
nations to negotiate with stronger ones. The point here
is not to call out anyone as inherent ‘Criminal.’ There are plenty of
laws – and diligent regulators
- surrounding the capital markets, after all. Rather, the examples here
are simply a lens that allows us to examine the nuances of human behavior with
greater understanding. As the old saying goes, 'The proper study of mankind is man.' Even when it is a con man…’ , Guest
Post: America's "Do As I Say, Not As I Do" Warfare The
state purports to represent the people when all it does is leech off their
labor in order to commit crimes at home and abroad. Under the auspices of keeping democracy safe around the world,
the foreign policy of the U.S.
government has been one of bombing, killing, and overall domination.
Meanwhile, anti-American sentiment continues to spread by instances such as the
C.I.A. targeting
civilian responders to drone strikes who attempt to aid those who were
attacked. In some cases, the C.I.A. even launches drone attacks at the
mourners in funerals held for those in earlier strikes. These are the measures
under which the American people are told they are being kept safe. What
would be constituted as war by any other nation is not so when carried out by
the U.S.
government. But it’s all just another
facade through which Washington
pretends to serve the people when in reality it puts them in even more danger. , Here
Comes The Hilsenrath Leak: "Fed Considers More Action" , Moody's
Downgrades Six German Bank Groups, And Their Subsidiaries, By Up To Three
Notches , The
REAL Reason the EU is Implementing Border and Capital Controls http://albertpeia.com/eufinished.htm , Biderman Vs.
Spiderman (Towels) Despite the failure of the generous
offer of Spiderman towels from the recently
'stress-test'-proof-but-now-busted Bankia, today's market suggests there is
still hope. The public estimate of loan losses for Spanish banks stands around
EUR225 billion (EUR 125bn known and an additional EUR100bn estimated) which, as
Charles Biderman of TrimTabs notes "is
so big as to be practically unsolvable" as he details the total and utter
lack of trust of Spain and Spanish banks that is spreading not
just across Europe but around the world. The
installation of six of the largest global consulting firms (and the IMF) to
begin audits of the Spanish banks, as Reuters reports today, should tell
everyone (especially those who bid them up 7-10% today) just how terrible the
situation is. Biderman begins to go ultrasonic as he expects real
losses for Spain to be in
excess of EUR300 billion and this is just Spain! Who knows how big the losses
are for the rest of Europe? He does not
believe Germany, or anyone else, will put up the EUR300 billion for Spain (or a
trillion for the rest of Europe) and sees at best a 50% chance that the entire Euro banking system will go down leaving a
much smaller Euro-zone behind (and a 25% chance of a non-panic mode
restructuring).
, As
France Lowers Retirement Age, Germany Better Be Ready To Pay For Austerity's
Unwind , Guest
Post: Brainwashing Starts With This Two-Letter Word , Hot-Tip
From Convicted Ponzi Master: "Join My Ponzi: It Is Better Than The
Fed's" ,
Fed's Beige Book Is
Out Submitted by Tyler Durden on
06/06/2012
Everyone
will be scouring for apocalyptic suggestions (need.moar.NEW Kew - EEE)
in the following...
- FED SAYS `HIRING WAS STEADY OR SHOWED A MODEST
INCREASE'
- FED SAYS ECONOMY EXPANDED AT `MODERATE PACE'
LAST MONTH
- FED SAYS `AUTOMOBILE SALES GENERALLY REMAINED
STRONG'
- FED: `CONTACTS WERE SLIGHTLY MORE GUARDED IN
THEIR OPTIMISM'
- FED SAYS `INFLATION REMAINED MODEST ACROSS
DISTRICTS'
- FED SAYS MANUFACTURING EXPANDED, CONSUMER
SPENDING WAS STEADY
- FED ECONOMIC SURVEY COVERS PERIOD FROM LATE
APRIL UNTIL MAY 25
- FED SAYS DEMAND WAS STRONGEST IN AUTO AND STEEL
MANUFACTURING
...And won't find them. So: just what basis will the Fed have to do more
QE again? Paging Jon Hilsenrath: Jon? Jon?
The
US Labor Market Is In A Full-Blown Depression ‘Now that stocks are back to
reflecting nothing more than expectations of how many times the Chairsatan
dilutes the existing monetary base in a carbon copy replica of not only 2011
but also 2010... and 2009 (because contrary to what purists may believe, the
only way to inflate away unsustainable debt in a growth-free economy is by destroying the currency), and manic
pattern chasers have crawled out of their holes proclaiming the death of the
bear market after a two day bounce, what is happening in the actual economy, no
longer reflected by the market, has once again been pulled back to the
backburner. Which is sad, because while ever fewer people reap the benefits of
artificial, centrally-planned S&P rallies, the rest of the population
suffers, and what is worse: hope for a quiet, middle-class life is now an
endangered species. Nowhere is this more evident than in the following list
from David Rosenberg which summarizes how, quietly, the US labor force slipped back into a
full-blown depression.
One Sick Labor Market
There were
so many disturbing elements to the May jobs data that we're not sure we can do
justice to the litany of disappointments (with some help from our friends at
the Investor's Business Daily):
- The share of long-term
unemployment is at its highest level since the Great Depression (42%).
- Fully 54% of college degree
graduates under the age of 25 are either unemployed or underemployed.
- 45 million Americans are on food
stamps — one in seven residents.
- 47% of Americans are on some form
of government assistance.
- The employment-to-population ratio
for 25-54 year olds is now 75.7%, lower than it was when the recession
supposedly ended in June 2009.
- The number of people not in the
labour force has swelled eight million since the recession ended; absent
that effect, the unemployment rate would be 12% right now (about the same
as President Obama's election chances would be).
- The number of people confident
enough to leave their jobs fell 11% in May
for the second month in a row to 891k, the lowest since November 2010.
- The ranks of the unemployed who
have been looking fruitlessly for work for at least 27 weeks jumped 310k
in May, the sharpest increase since May 2011.
- The unemployment rate for males
aged 16-19 is 27% and for males between 20 and 24 it is 13%. Draw your own
conclusions from a social (in)stability standpoint.
- One in seven Americans are either
unemployed or underemployed.
- Only one in six of the youth are
working full-time and three-in-five are living with their folks or another
relative (as per the NYT).
- A mere 16% of the 2009-2011
graduating class has found full-time work, while 22% are working
part-time. Even those hired from 2006-08, just 23% are working full-time.
- According to a poll cited in the
NYT, just 14% of high-school grads today believe they will have a more
successful financial future than their parents Line of the day, as
depressing as it is, comes from an 18-year old: "Thank God I had a
buddy at Burger King who could help me out". Fast-food has emerged as the fast-growing industry in a country once
led by technology. Even tech now is fuelled more by companies that
produce nifty consumer gadgets and feed our narcissistic needs than those
who focus on improving the nation's capital stock which is the ultimate
trailblazer for productivity growth and durable gains in our
standard-of-living.’
STOCKS STAGE GINORMOUS RALLY: Here's What You Need To Know Business
Insider 03:44PM InPlay: Stock indices
remain range bound back hovering just under highs -- Dow +234, S&P +24,
Nasdaq Comp +59 Briefing.com
03:39PM How to play it: Options trades ahead of the Greek elections
at Reuters 03:38PM HOW TO PLAY IT - Options trades ahead of the Greek elections
at Reuters 03:32PM Drumbeat's Getting Louder: the Fed Must Save the World at
The Wall Street Journal 03:20PM Beige Book Won't Force QE3, But That's a Good Thing at
The Wall Street Journal 03:18PM Silver, Gold ETFs Shine As Greenback Weakens at
Investor's Business Daily 02:50PM Investors Heading for Hills, Ditching Risk for Cash and Bonds
at Minyanville 02:43PM Tempur-Pedic Shares Fall Out of Bed at
The Wall Street Journal 02:33PM Here's How to Read Mario Draghi's Poker Face at
The Wall Street Journal 02:14PM Here's How to Read Mario Draghi's Poker Face at
The Wall Street Journal 02:04PM InPlay: Stock indices
see limited upticks as Beige Book headlines are digested -- Dow +223, S&P
+23, Nasdaq Comp +55 Briefing.com
01:57PM Gold miners starting to shine at
MarketWatch 01:18PM Tempur-Pedic Shares Fall Out of Bed at
The Wall Street Journal 01:17PM Emerging markets signal corrections end at
MarketWatch 01:16PM Nasdaq Proposes $40 Million Fund to Compensate for Facebook
Losses at The Wall Street Journal
01:10PM Nasdaq Proposes $40 Million Fund to Compensate for Facebook
Losses at The Wall Street Journal
01:07PM Wall Street to Muppets: Thanks for the Love at
The Wall Street Journal 12:43PM InPlay: Slow, steady
grind higher for stock indices -- Dow +228, S&P +25, Nasdaq Comp +61 Briefing.com
12:36PM Wall Street to Muppets: Thanks for the Love at
The Wall Street Journal 12:27PM Three Charts That Predict A Summer Market Crash at
Forbes 12:05PM SPY, CVX, KO, WFC: Large Outflows Detected at ETF at
Forbes 12:05PM Rally Potential That Bears Don't Expect at
Forbes 11:54AM SPY, CVX, KO, WFC: Large Outflows Detected at ETF at
Forbes 11:42AM Rally Potential That Bears Don't Expect at
Forbes 11:32AM Potential For More Fed Stimulus Juices Markets at
The Wall Street Journal 11:23AM Potential For More Fed Stimulus Juices Markets at
The Wall Street Journal 11:20AM Index, ETF option volumes near midday optionMONSTER
11:05AM InPlay:
Another round of modest new highs for stock indices -- Dow +169, S&P +18,
Nasdaq Comp +50 Briefing.com
10:39AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville
09:43AM Futures Pare Gains After ECB Rate Decision at
Forbes 09:39AM Gold's Rally Highlights Bailout Hopes at
The Wall Street Journal 09:35AM InPlay: Strong, broad
based push in early trade -- Dow +94, S&P +9.8, Nasdaq Comp +23 Briefing.com
09:30AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville
09:25AM Bernanke Boost Helps Stocks Heat Up, Despite Chilly Crisis
Response From ECB at Forbes
09:00AM Pre-Market Primer: ECB Keeps Rates Still at
Minyanville 08:30AM Time for a Healthy Dose of Bear Caution at
Minyanville 08:08AM The Good Leads at The Wall Street
Journal 07:12AM 10 Things You Need To Know Before The Opening Bell Business
Insider 06:17AM Morning MarketBeat: ECB Shouldn't Blink at
The Wall Street Journal
CNBC | Greece
is rapidly running out of money.
Paul Craig Roberts | Purging
the financial system of the gambling derivatives would vastly improve national
security.
Colorado
Tells Unemployed To Pay Back $128 Million In Jobless Benefits
huffingtonpost.com | In one
state, the jobless now have to pay the government.
Organized
Shoplifting Rises As Economy Stays Weak
huffingtonpost.com |
Organized retail crime involves shoplifting with the intent of selling the
goods.
Summers
Suggests Temporarily Extending the Bush-Era Tax Cuts
Jonathan Weisman | All of
the expiring Bush-era tax cuts should be extended temporarily in the face of a
slowing economy.
Gold
Bugs Defy Bear-Market Threat With Soros Buying
Bloomberg | Many say prices will rebound this
year or next as the Federal Reserve shores up the world’s biggest economy by
easing monetary policy and devaluing the dollar.
Here
Comes The Hilsenrath Leak: “Fed Considers More Action”
Zero Hedge | The
faithful Fed scribe has been charged with his latest leak commission.
Gold And Silver Blast Off
Business Insider | Big
morning for the precious metals, as traders sense the world’s central banks
leaping into action.
Dire
CBO report projects US debt will be double GDP by 2037
The Hill | U.S.
debt is on track to be nearly twice the size of the U.S. economy by 2037, the
nonpartisan Congressional Budget Office (CBO) warned Tuesday.
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 }