Business Summary Links By Day
22
Statistics That Prove That The American Dream Is Being Systematically Destroyed The following are 22 statistics that prove
that the American Dream is being systematically destroyed.... http://albertpeia.com/americandreamdestroyed.htm , Biden: Romney is a job creator -- overseas { The effects of having part of your brain removed,
indeed. It is noteworthy that ‘Lobotomy Joe’ biden
voted for NAFTA which produced that ‘sucking sound’ forebodingly described by
the honorable Ross Perot; viz., of jobs leaving the u.s.
as a direct consequence thereof. }
, Dave’s Daily: http://www.etfdigest.com http://etfdigest.com/commentary.html CHUCKY THE CONSUMER IS NOT ENTHUSED 6-26-12
‘News from the U.S. included the Case Shiller Home
Price Index which was which was about as expected (.7% vs
.4% expected & prior .7%) with YOY (-1.9% vs
-2.3% expected & prior -2.6%). So in realtor lingo this would indicate a
“stable” market. When realtors tell you prices are stable, this usually means
they haven’t sold a house in months.The Richmond Fed
Manufacturing Index was a disappointment (-3 vs 5
expected & prior 4) keeping the economy on a weakening path.Consumer
Confidence stunk (62.0 vs 63.5 expected & prior
64.4) so don’t expect “Chucky the Consumer you can’t kill” to bailout the
economy this go round. The chart below reflects the relationship and
performance with the S&P and previous Consumer Confidence data. Meanwhile
the drama in the eurozone continues as we lumber
along toward Friday’s “it’s fixed this time” decision. So we expect plenty of
rumors and manipulation before then. The European Stability Mechanism (ESM)
which is expected to provide a bailout facility floated a few positive ideas
which would expand the facility. This got some algo
buying going despite the fact that both Germany’s Merkel and Schauble have put the “nein, nein, nein” to it. Speaking of
Germany, lesser known (and
less conflicted) rating agency Egan Jones downgraded Germany from AA- to A+. This will
only aggravate Germans. The more curious development was Greece has its
second new Finance Minister in as many days by tapping Professor Stournaras for the job. He was instrumental in getting Greece into the
eurozone to begin with. (They may not greet him with
a parade in Brussels
this week.) Finally, Italy’s Mario Monti lashed out
at Germany prior to the summit as noted.Speaking of credit
downgrades, Moody’s ratings cuts to 28 Spanish banks (10 to junk) had little
effect so either Moody’s is still either disrespected or leading from behind.Bulls seized on rumors and data they liked to get algos pumped-up to launch some buy programs especially when
the IMF’s Blanchard said: “Short-term must be the focus for Europe.” This must
mean QE or just plain old, “kick the can”.Stocks put in gains on this Turnaround Tuesday with
tech (XLK) leading along with consumer discretionary (XLY) and retail (XRT). Of
course the latter flew in the face of Consumer Confidence data.The
dollar (UUP) was flat while gold (GLD) prices sank once again. Commodity prices
(DBC) were mixed to slightly higher mostly led by grain (JJG) markets. Bond
(IEF) prices were slightly lower.Volume was still on
the light side while breadth per the WSJ was positive…’ , Ray
Dalio: Don't Assume That Germany Will Bail Europe
Out; Consider The "Fat Tail" A Significant Possibility ZeroHedge.com Tyler Durden , Egan
Jones Downgrades Germany From AA- To A+
, "Bankruptcy
Only Choice Left" As Stockton Set To Become Largest US City Chapter 9 , Guest Post:
Liquidation Is Vital In light of the
zombification that
now exists in Japan and also America (and coming soon to every single QE and
bailout-heavy Western economy) — zombie companies, poorly managed, making all
the same mistakes as before, rudderless, and yet still in business thanks to
government intervention — it is clear that the liquidationists
grasped something that Keynesians are still missing. Markets are largely no longer trading fundamentals; they are just trading
state intervention and money printing. Why debate earnings when instead you can
debate the prospects ,
of QE3? Why invest in profitable companies and ventures when instead you
can pay yourself a fat bonus cheque out of monetary
stimulus? Why exercise caution and consideration when you can just gamble and
get a bailout? Unfortunately, Mellon and his
counterparts at the 30s Fed were the wrong kind of liquidationists
— they could not heed their own advice and leave the market
be. Ironically, the 30s Fed in raising interest rates and failing to act
as lender-of-last resort drove the market into a deeper depression than was
necessary (and certainly a deeper one than happened in 1907) and crushed any
incipient recovery. Liquidation is not merely some abstract policy directive,
or government function. It is an
organic function of the market. , Rosenberg
Opens Pandora's 'Global Economic Shock' Box
In a detailed discussion with Bloomberg TV's Tom Keene, Gluskin Sheff's David Rosenberg
addresses everything from Europe's
"inability to grow its way out of the problem" amid its 'existential
moment', Asian 'trade shock' and commodity
contagion, and US
housing, saving, and fiscal uncertainty. He believes we are far from a bottom
in housing, despite all the rapacious calls for it from everyone, as the
over-supply overhang remains far too high. "The last six quarters of US GDP
growth are running below two percent" he notes
that given the past sixty years of experience this is stall speed, and inevitably you slip into recession". He is back to
his new normal of 'frugality' and bearishness on the possibilities of any
solution for Europe but, most disconcertingly he advises Keene that "when
you model fiscal uncertainty into any sort of economic scenario in the U.S.,
what it means is that businesses
raise their liquidity ratios and households build up their savings rates. This
comes out of spending growth. And that's the
problem - you've got the fiscal uncertainty coupled with a US export 'trade
shock'." , Equities
Rise On Low Volume Tide As Broad Risk Assets Tread Water , Turkey
Mobilizing: Media Manipulation, Provocation Or Reality? , Guest
Post: Who Destroyed The Middle Class - Part 3 , Supply
Chain Slowdown Signals US Economic Slump Ahead The American Chemistry Council's chief economist
Kevin Swift created a 'Chemical Activity Barometer' which tracks chemical
production and prices, hours worked at producers, and manufacturing output
among other factors. As indicated in today's Bloomberg
Chart-of-the-Day, this indicator, based on its 'earliness in the supply chain' provides a signal that
"the outlook for the economy is slowing during the next six to nine months"
since 96% of manufactured goods are derived in part from materials produced by
the US chemical industry. Three-month declines of 3% or more
have preceded all but one recession since 1947 and it
is currently down over 2.5% from its highs in March suggesting sub-par growth
is coming. , As
The ECB's Balance Sheet Hits A New Record High, Fair
EURUSD Value Is 900 Pips Lower
, Charting
How Everything Changed In 2008
, Peripheral
Sovereign Yields Spike On Spain 'Junk' Rumors , Italy's
Unelected PM Mario Monti: "Eurobonds, Or I
Resign" , Merkel
Says No European Shared Liability As Long As She Lives , Deutsche
Bank Hides The Hopium: "The Next Recession
Should Start By The End Of August"
, Richmond
Fed Plunges; Consumers Underconfident For The Fourth
Month In A Row , Art
Cashin Warns: "Beware The Ides Of
September" While Europe is
dominating headlines this week, UBS' Art Cashin
suggests "mark your calendar and cross your fingers" as he notes the
disproportionate prevalence of events that occur in September. Focusing on The
Economist's Greg Ip's recent post on a possible
seasonal pattern in banking crises, via this recent
Reinhart & Rogoff extension paper by Laeven and Valencia, he notes: "The frequency with which the world goes to hell in September seems
hardly random." Unfortunately the authors provide
no explanation for this beyond observing, "An interesting pattern emerges:
banking crises tend to start in the second half of the year, with large
September and December effects." Ip and Cashin offer some thoughts on why this is so historically, and more importantly why this time is no
different, as the avuncular Art concludes with: "try to enjoy your
summer".
The Daily Market Report Jun 26th, 2012 13:02 by News
Gold Eases as Dollar Firms
(USAGOLD) — Gold has retreated into the range on renewed worries after German
Chancellor Merkel was quoted as saying, “I don’t see total debt liability as
long as I live.” This should not have come as any surprise to anyone as Germany’s
objections to shared debt is pretty well documented at this point. Nonetheless,
it sets a pretty adversarial tone for the EU summit and the euro fell to match
the 3-week low at 1.2442. The corresponding rise in the dollar, put the yellow
metal back on the defensive.Spanish borrowing costs
rose sharply on speculation that Moody’s plans to downgrade the country to junk
status. Meanwhile the subordination issue related to the Spanish banking
bailout continues to be debated and pressure is on Germany to forgo the senior
status of any ESM loan to Spain because of the impact it would have on private
bondholders and future attempts to sell bonds.In the
UK, pubic sector net borrowing was much higher than expectations in May, due to
a drop in income tax receipts. BoE Governor Mervyn King
was quick to blame the worsening of the UK economy on the eurozone
crisis.Any optimism associated with the first monthly
rise in the Case-Shiller home price index in 8-months
was offset by misses in the Richmond Fed index and consumer confident in June.
As the US economy continues
to founder, and the Obama administration continues to deflect by criticizing Europe, German Finance Minister Wolfgang Schäuble struck back saying, “Herr Obama should above all
deal with the reduction of the American deficit. That is higher than that in
the euro zone.”Schäuble is understandably agitated by
US kibitzing. While the US
maintains the ‘exorbitant privilege’ of being able to print an endless numbers
of dollars, the EMU was designed to have much tighter monetary controls. Europe
can’t simply print its way out of debt as the US can.
• US
Consumer Confidence falls to 62.0 in Jun, below market expectations of 63.2, vs negative revised 64.4 in May.
• Richmond Fed
Index tumbles to -3 in Jun, below market expectations, vs
4 in May.
• US S&P Case-Shiller home prices index for
20-cities (nsa) +1.3% in Apr to 135.8, vs 134.1 in Mar.
• Germany GfK Consumer Confidence ticked higher to
5.8 for Jul, above expectations of 5.6, vs 5.7 in
Jun.
• Italy retail sales (sa) -1.6% m/m in Apr, vs negative revised -0.8% in Mar; -6.8% y/y.
• UK Public Sector Net Borrowing rose to -£15.6 bln
in May, vs downward revised -£19.9 bln in Apr.
• Singapore Manufacturing Production +6.6% y/y in May, vs
positive revised -0.2% in Apr.
• Hong Kong Trade Balance -HK$35.6 bln in May, vs -HK$42.9 bln in Apr.
Positive Housing Rebound BOOSTS U.S. Stock Market at Wall St. Cheat Sheet 08:06PM Housing Rebound BOOSTS U.S. Stock Market at Wall St. Cheat Sheet 07:18PM Inverse ETFs To Own If The Market
Tanks at Investopedia
05:10PM Inverse ETFs To Own If The Market
Tanks at Investopedia
04:21PM InPlay: Stock indices extend pullback off afternoon/session
highs following downgrade -- Dow +49, S&P +7, Nasdaq
Comp +17 Briefing.com 12:56PM Apple, SPDR S&P 500 Trust: Money Flow Leaders (AAPL, SPY)
at The Wall Street Journal 12:36PM The Death Of The Free Market? at Forbes 12:15PM InPlay: Dow +26 and S&P +5.2
hovering slightly under early session highs, Nasdaq
Comp +12 10 points shy of morning peak Briefing.com
12:12PM Four Reasons To Watch The Markets Everyday at Forbes 12:12PM Four Reasons To Watch The Markets Every Day at Forbes 11:38AM Index, ETF option volumes near midday optionMONSTER 11:36AM Index, ETF option volumes near midday optionMONSTER 11:30AM Index, ETF option volumes near midday optionMONSTER 11:30AM Euro Members Picking Out Their 'Going-to-Meeting' Hats at Minyanville 11:29AM InPlay:
New lows but S&P -0.4 and Nasdaq Comp +0.7
holding above Monday lows -- Dow -26 slipped under but attempting to stabilize
Briefing.com 10:56AM [video] Market on Pause Til Thursday
at TheStreet 10:36AM InPlay:
Stock indices slip further off morning highs after weaker confidence data --
Dow +2 S&P +2.5, Nasdaq Comp +10 Briefing.com 09:33AM InPlay:
Modest advance in early trade with stock indices edging above yesterday's late
rebound highs -- Dow +27, S&P +3.6, Nasdaq Comp
+11 Briefing.com 09:18AM The Best News Ever for Buy-and-Hold Investors at Motley Fool 09:11AM Pre-Market Primer: The EU to Take Steps Towards a True Fiscal
Union at Minyanville
08:46AM Black Swan Stalking Bernanke Put at Forbes 08:37AM 4 Catalysts to Spark an S&P 500 Rally to 1,500 Breakout 08:01AM [video] Markets Hang by a Thread Ahead of EU Summit at TheStreet
Four
presidents propose power of eurozone authorities over
national governments
The Guardian | European
leaders have drafted a radical plan to turn the 17 countries of the eurozone into a full-fledged political federation.
22
Statistics That Prove That The American Dream Is Being
Systematically Destroyed
The American Dream | The American Dream is being systematically destroyed right
in front of our eyes and most Americans don’t even realize what is
happening. http://albertpeia.com/americandreamdestroyed.htm
Down-the-drain
trading: Self-destroying cyber-sewer economy
RT | Max Keiser and co-host, Stacy
Herbert, discuss the world looking for people looking
for economic salvation in gold.
CNBC
Admits We Are Slaves Under Banking Cartel
Prisonplanet.com | Paul
Joseph Watson discusses the CNBC admission that elite bankers are running
everything into the ground.
Too Much
Debt: Our Biggest Economic Problem
The Economic Collapse | What is the biggest economic problem that the United States
is facing? http://albertpeia.com/toomuchdebt.htm
Forget the PIIGS,
Europe As a Whole Is Insolvent June 25, 2012 By gpc1981 http://albertpeia.com/europeinsolvent.htm , Too Much
Debt: Our Biggest Economic Problem http://albertpeia.com/toomuchdebt.htm
AP Business
Highlights
...Yahoo Market
Update…
Compendium of
Important Business / National / World News / Topics / Articles / Headlines
http://albertpeia.com/articlelinkspage3.htm
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. ]
Wobama’s Choom Gang Bangin’ { This
brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... { http://albertpeia.com/wobamaschoomgangfantasy.htm }
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 }