Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com BERNANKE TEASES MARKETS BACK TO REALITY
6-7-12 ‘The prime attraction Thursday was supposed to be Bernanke’s
congressional testimony, but he had little new to say. The prime player was China which
lowered interest rates energizing bulls to keep Wednesday’s rally going early,
only to see markets fade into the close. Spain also successfully sold a bond
issue (despite Fitch downgrading the country by 3 notches to BBB) although the
10 year yield exceeded 6%. Further it appeared in some quarters that Angela
Merkel is more willing to deal (as in relent) to the ongoing bailout pressure
from other leaders whether from France or the U.S. She stated, “In view of the
current difficulties, it’s important to emphasize that we have created the
instruments of support in the eurozone, that Germany is ready to work with
these instruments whenever that is necessary and that this is an expression of
our firm desire to keep the euro area stable.” That expression needs a lot of
parsing and explanation since it may involve acceptance of euro bonds. UBS
pundit Art Cashin stated it well today in the following statement on CNBC: “Today, Margaret Thatcher’s autobiography,
first published in 1993, reads like a prophecy. It shows how deeply and with
what extraordinary wisdom she had examined Delors’ proposals for the single
currency. Her overriding objection was not ill-considered or xenophobic, as
subsequent critics have repeatedly claimed. Germany, forecast Thatcher, ‘would
be phobic about inflation, while the euro would prove fatal to the poorer
countries because it would devastate their inefficient economies.’ It is as if,
all those years ago, the British prime minister possessed a crystal ball that
enable her to foresee the catastrophic events of the past year or so in
Ireland, Greece and Portugal. Indeed, it is one of the tragedies of European
history that the world chose not to believe her.” In more mundane news Jobless
Claims beat estimates slightly (377K vs 379K exp. & prior revised higher as
always to 389K). Revolving consumer credit fell in April by $3.4 billion. This
isn’t encouraging and of course doesn’t include the rapidly expanding student
loan bubble which no one wants to address particularly in an election year. So
despite Bernanke’ non-event bulls chose to focus on some waffling from Merkel
and China’s interest rate cut to follow through on Wednesday’s rally. But the
rally didn’t hold and investors were net sellers into the close. Gold (GLD) was
the major casualty suffering large losses on disappointment of few QE hints.
The Fed’s focus groups will take note. Volume was about average for the period
and breadth per the WSJ was mixed to negative…’
China's
Auto Dealers' "Backs Are Broken" As 'Channel-Stuffing' Gets
"Dangerous" Zerohedge.com Tyler Durden While LeBeau et. al. have
sung the praises of a renaissance in Auto companies and their manufacturing
recovery supporting what woeful growth we have seen, we
have mournfully noted the ever-increasing builds of inventory (or 'channel stuffing') at auto-dealerships and most recently pointed to China's 'debilitating
price cuts to come' three
weeks ago here. Bloomberg
this evening is reporting that the situation is getting worse, much worse,
as Chinese dealership inventory levels have exploded from under 45
days to over 60 days supply as "dealers can't shoulder the burden
anymore... Their backs are broken". This should come as
no surprise to ZeroHedge readers but this is forcing dealers to deepen
discounts and sell cars at a loss to meet mandatory sales targets. As GM just
this week crowed of its 21% rise YoY in 'sales' in China, local analyst channel
checks show two-month levels of inventory for foreign brands and even worse
60-80 days worth of inventory for domestic brands adding that this much
inventory "is pretty dangerous for the industry". China's largest distributors of
autos are canceling debt issues and their views are scarily summed up (by them
not us): "The picture we have is very different from what the
automakers are painting. The sales increases they’re reporting are achieved by
loading dealers with stock." ,
Europe's
Banking Union 'Non-Solution' , Guest Post: God Don't Save The Queen { You know, I recently have become somewhat
bored of the topic ‘jolly old england’ despite their glaring failure across the
board, and a noisome intrusiveness as here, for me, ie., orange street, conn.
( http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) , etc.,
and all the negatives entailed therewith; yet, there’s something so nauseating
about that cloyingly bothersome nothingness that bespeaks old england, that ‘go
along, get along and pretend’, that I include the following from Zerohedge.com
that’s accurate, fair comment. } "Crowds Cheer
Queen On Last Day of Jubilee" So ran the headline
from Time.
Yesterday marked the end of the “Diamond Jubilee” of Queen Elizabeth II of the
British monarchy. The four day celebration was is honor of her ascendancy
to the throne sixty years ago. Monarchies are supposed to be antithetical to
freedom. Under feudalistic monarchism,
the notion of personal liberty took a backseat to loyalty to the king.
Those who weren’t part of or close to the nobility were referred to as
subjects. These peasants were to serve without question. Today, the only
difference between the systematic malfeasance and plunder that existed under
the rule of monarchs and that which defines the state is the ballot box. Voters in a sense get to choose a small portion of their rulers.
This gives them the mirage of freedom when the nation-state they inhabit is no
less than a contemporary field of serfdom lorded over by kings. Too much of the public
still behaves with the mindset of servants. They are pathetically docile
to those who hold the keys of their shackles. What the celebration of Queen Elizabeth’s sixty year rule
showed is that the people of Great
Britain never really escaped from
monarchy. See also, http://albertpeia.com/esotericagenda.flv , David Takes On The Porn-Addicted Goliath: Egan-Jones
Countersues The SEC
A month and a half after the SEC
took a much-deserved break from watching
taxpayer-funded pornography, and stumbled on the scene with its latest
pathetic attempt to scapegoat someone, anyone, for its years of gross
incompetence, corruption, and inability to prosecute any of the true
perpetrators for an event that wiped out tens of trillions in US wealth, by
suing Egan-Jones for "improperly" filing their NRSRO application in
what was a glaring attempt to shut them up, the only rating agency with any credibility has done what nobody else
in the history of modern crony capitalist-cum-socialist America has dared to
do: fight back. We have only three words for Sean Egan: ‘For the Win!’ , Systemic Risk For Dummies Following the success of the
"Dummies
Guide To Europe's Problems" and the "Global
Economic Collapse For Dummies", we present "Systemic Risk For
Dummies". With global systemic risk at March 2009 highs and nearing
November 2011 all-time peak levels, perhaps it is worth considering just what
it is that all this TBTF-saving money-printing has achieved? , Consumer
Credit Misses, As Fed Magically Creates $1.5 Trillion In Net Worth Out Of Thin
Air , Late-Day Crumble As Stocks Join Gold's Stumble Whether it was the deterioration
in Consumer Credit, downgrade rumors for US financials, Greek bank
restructuring/run chatter, or a final realization that near-term QE is off at
these levels of equity prices (as signaled by Bernanke and Gold this morning),
the equity short-squeeze stumbled hard in the last hour of the day
to end unch. Utilities managed to outperform
handily as all the high beta sectors dumped into the close as Tech and Financials
closed red for the day. Treasury yields and the USD were
signalling considerably more equity weakness than we got though the dive caught
stocks up but Gold remained the biggest loser of the day (-2% on the week
against the 0.7% loss in the USD). Silver remains positive for the week - though
matched gold's weakness on the day as Copper and Oil whipsawed up and down on
rumor and then lack of follow-through. Equities pulled back
closer to the underperforming investment grade (and less so high yield) credit
market at the close. Treasury yields ended marginally lower (with the long-bond
underperforming) and 7s and 10s -2bps)leaving 5Y flat still up 9bps on the week
(and outperforming). Risk markets in general slid as Bernanke's speech was
delivered and the Q&A proceeded but stocks went almost totally dead with
financials and the S&P 500 e-mini clinging to VWAP as volumes died - until
that last hour plunge. MS and BofA took the brunt of the selling
pressure (ending down 3-4%) - though they are still well of the
lows from a few days ago. VIX cracked back above 22% as we dropped in the end
but closed down 0.5vols at 21.7% but implied correlation rose back over the
somewhat critical 70 threshold and equities remain notably rich to broad
risk assets in general still. ,
The
Criminal Banking Cartel's End Game: A 100% Digital Monetary System
Posted by: smartknowledgeu
Post date: 06/07/2012 The end game of this global monetary crisis is the
imposition of a 100% digital monetary system that would permanently end what
little economic freedoms we still retain today. Educate. Resist. Fight...
http://albertpeia.com/criminalcartel.htm { I agree with the thrust of this article
which I’ve yet to read in full; if only to emphasize that with a mouse
click/button/keystroke/enter you could easily be separated from your
money/wealth which is a formidable intimidating threat consistent with planned
subservience (and also facilitating manipulated fraud, etc.). And, don’t think
they wouldn’t do it, meaningless, arbitrarily enforced laws notwithstanding.
Don’t forget; government slugs all have the same employer. I experienced the
corruption first-hand: http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/americangovernmentdrugtrafficking.htm
http://albertpeia.com/americascorruptiondrugtrade.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm }
07-Jun-12
05:34PM [video] Stocks Lose Mojo After Strong Run-Up at TheStreet 05:14PM Tomorrow's Tape: Easing Into the Weekend at The Wall Street Journal 04:50PM Bank of America, SPDR S&P 500 Trust: Money Flow Leaders
(BAC, SPY) at The Wall
Street Journal 04:42PM Train Reading: 'Go to Break! Go to Break!' at The Wall Street Journal 04:37PM Stock Rally Luffs as Central Banks Go 1-For-4 on Stimulus at The Wall Street Journal 04:17PM May Was a Harsh Month for Stock Pickers at The Wall Street Journal 04:02PM Cotton And Cocoa ETFs Heat Up As Gold Melts at Investor's Business Daily 04:00PM RALLY FIZZLES AND GOLD GETS CRUSHED AFTER FED SPOILS THE PARTY:
Here's What You Need To Know Business Insider
03:49PM Cotton And Cocoa ETFs Heat Up As Gold Melts at Investor's Business Daily 03:40PM Stock Pickers Struggled Mightily Last Month at The Wall Street Journal 03:31PM InPlay: Stock indices
vacillating near lower end of midday ranges -- Dow +79, S&P +3, Nasdaq Comp
-3.2 Briefing.com 02:52PM Spain's Twitter Users Say 'Stop Merkel' at The Wall Street Journal 02:45PM Venus, Hope, or Technical Analysis? at Forbes 02:39PM How a Sliver of a Loss Sparked the Stock Market's Rally at The Wall Street Journal 02:23PM Stocks, Euro In Rally Mode Despite Spain Downgrade at The Wall Street Journal 01:25PM Best Buy Clears the Deck, But for Whom? And What? at The Wall Street Journal 01:19PM Fitch Downgrades Spain's Credit Rating Three Notches at The Wall Street Journal 01:18PM InPlay: Stock indices
vacillating near midday bounce highs -- Dow +114, S&P +8.8, Nasdaq Comp +10
Briefing.com 12:54PM The Outlook is Still Unusually Uncertain at The Wall Street Journal 12:17PM Dear Politicians, Do Something! Love, Your Central Bankers at The Wall Street Journal 12:16PM InPlay: Stock indices
lifting modestly in recent action, extend push off mid-morning pullback lows --
Dow +110, S&P +8.6, Nasdaq Comp +10 Briefing.com
11:38AM Index, ETF option volumes near midday optionMONSTER 11:20AM Fitch Throws Warning Shot On U.S. Debt at The Wall Street Journal 11:00AM Stocks Trim Gains As Bernanke Speaks at The Wall Street Journal 10:55AM Congressman to Bernanke: Take QE3 Off the Table at The Wall Street Journal 10:45AM Bernanke Won't Tip Hat on Stimulus at The Wall Street Journal 10:37AM Best Buy Chairman Resigns, Explores Options For 20% Stake at The Wall Street Journal 10:02AM InPlay: Stock indices
slip back off highs/resistances as Fed Chair headlines hit the wires -- Dow
+95, S&P +8, Nasdaq Comp +15 Briefing.com
09:47AM InPlay:
Stock indices drifting near highs after opening run -- Dow +123, S&P +12.5,
Nasdaq Comp +23 Briefing.com 09:42AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville
09:30AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville
09:22AM Comparing Dividend Yields in REIT ETFs ETF Trends 09:21AM Comparing Dividend Yields in REIT ETFs ETF Trends 09:00AM Pre-Market Primer: China to the Rescue, All Eyes on Bernanke
at Minyanville 08:51AM After China Rate Cut, Bases Loaded for Bernanke Testimony at The Wall Street Journal 08:44AM Yellen Says Fed Still Has Room To Move, Bernanke Testifies
Thursday at Forbes 08:16AM [video] Is The Rally Sustainable? at TheStreet 07:55AM [video] Is the Rally Sustainable? at TheStreet 07:25AM 10 Things You Need To Know Before The Opening Bell Business Insider 07:14AM [video] Technicals Favor Visa, Expedia at TheStreet
As
Greenback Sinks, Dubai’s Chief Economist Calls For Chinese ‘Redback’
A.M. Freyed | The
elites continue to pursue replacements for the dollar.
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.
PrisonPlanet.com | Facebook
has deleted my account for no reason and is demanding my passport. Social
networking websites routinely censor alternative media. Another fantastic
reason to sign up at Planet Infowars. http://albertpeia.com/37responsestofacebookdeletesaccountdemandspassport.htm
Bernanke:
No Easing for Now, but Possible if Growth Slows
CNBC | Federal Reserve Chairman Ben
Bernanke offered little hope Thursday for anyone looking for more central bank
intervention, instead relying on an oft-repeated pledge to step in if
necessary.
Federal
gov’t sitting on $70 billion in unspent cash
The Washington Times | The
federal government has at least $70 billion that has languished for years in
unspent accounts.
Markets
Await ‘Helicopter Ben,’ But May Be Disappointed
CNBC | The expectations are so high for Fed
Chairman Ben Bernanke Thursday to say something revealing about more Fed easing
that he can probably only disappoint markets.
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 }