Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com ‘DATA MANIPULATION UNDER COVER Retail Sales
data was released Tuesday and on the surface the headline data was a pleasant
surprise. Expectations were for a rise of .3% but the number came in at .8%.
One very sour note was June data was revised to -.7% from -.5% which was a
bummer. But the real story was in a new calculation method by the census bureau
(ably assisted by the Bank of Spain…I
kid you not) changed their methodology for seasonal adjustments as noted HERE
& HERE. Without this
adjustment the data would have showed a -.9% decline. This follows along with
all the adjustments made in the CPI (released tomorrow) since 1980 that made
inflation data always look better ultimately and Employment data with
birth/death adjustments.Other data released today included
the PPI (.3% vs .2% expected & prior .1%) and
Business Inventories which fell (.1% vs .2% expected
& prior .3%)In the eurozone German Economic
Minister Phillip Roesler stated Greece would not get
a third aid package if it did not implement reforms, stating: “We don’t’ want
the Greek government to be insolvent but we could deal with the consequences if
necessary.”While German economic data was weak, it
wasn’t as weak as feared Tuesday causing a rally in the DAX. Nevertheless the
17 nation EMU economy overall is moving
into recession with -.2% GDP. But expectations are high the ECB and other
central banks would be injecting more liquidity and bailouts sending most
shares higher. Speaking of central banks, the Bank of Japan released minutes
indicating they would be will to do more QE and the PBOC is now actively in the
process of doing reverse repos providing short term lending to banks.Earnings saw good results from Home Depot (HD) but
more disasters in social media stocks (SOCL) where (ZNGA), (FB) and now (GRPN)
have lost nearly $58 billion since their share issuance. This is reminiscent of
the dotcom days.The dollar (UUP) was flat and gold
(GLD) was weaker. Crude oil (USO) recovered from Monday’s late selling given
ongoing troubles in Norway, Iran sanctions and Middle
East tensions. Commodity markets (DBC) overall were mildly higher
with energy but weakness in agricultural markets. Bond markets (IEF) were
weaker in advance of another round of auctions Wednesday.U.S.
stocks drifted about aimlessly and are no doubt
waiting for more important data as this week unfolds. Further bulls look for a
QE3 outcome from the Jackson Hole rendezvous near the end of the month.Volume was once again very light and breadth per the
WSJ was mildly negative…’ , You
Will Not Believe What Some People Are Willing To Do For A Paycheck These Days http://albertpeia.com/desperateforapaycheck.htm , Dan
Loeb Purges Portfolio, Cuts Over Two Thirds Of Equity Holdings, Adds 25 New
Positions ZeroHedge.com , S&P
500 Futures 'Plunge' 1.25 Points - Most In 10 Days! , Bill
Gross On Where "Bad Bonds Go To Die": Joins Paul Singer In Hatred Of Treasurys A week
ago we brought you Elliott Management's summary opinion on US paper: "We
Make This Recommendation To Our Friends: If You Own US Debt Sell It Now."
Today, Bill Gross doubles down. Gross: The #Fed is where
bad bonds go to die. Today it was 10-years. Tomorrow
30-years. Stay short my friends. , Is
Investment Grade Issuance Driving Treasury Weakness (Again)? , NY
State Regulators Settle With Standard Chartered At 0.14% Transaction Fee *NEW
YORK SETTLES PROBE OF STANDARD CHARTERED FOR $340
MLN .. the $250
billion of 'laundering' transactions - sanctions/terrorism/drugs-related or not
- are settled for a 0.14% transaction
fee (that'll teach 'em!). In other
words, Std Chartered's IRR for
committing years of crime is 714%. Finally this is a whopping 1.9% of the bank's entire 2011 revenues, or in other
words they had to hand over 7 days of revenue (assuming a 365
day work week). Of course there are other fines/penalties to come but it looks
like someone got a little over-excited at the regulators or as we note,
STANCHART had some bottom-drawer details no one wanted outed.
And now, employees of US "regulators," "enforcers" and
various other "crime fighting" organizations can look forward to
submitting their resumes to the British banks all over again. , What
Happened The Last Two Times VIX Closed Below 15%? VIX has only rarely traded below 15% during
'new normal' times. The period from 2004 to early 2007, the so-called 'Great
Moderation', saw VIX average 13.6% - at the time stunningly low (and notably
where VIX closed yesterday). While looking at VIX alone can be misleading (with regard to the term structure
differences and realized vol premia),
it is nevertheless a gauge of market's expectations of return volatility in the
short-term - however contemporaneous that is. Following the two times that VIX first closed below 15%, the S&P 500
has suffered from a 5.25% and 7.75% plunge in the following two months
- and each time saw a quick post-VIX-plunge pop in stocks that provided better
entry levels for shorts. High Yield
credit also stumbled hard widening 80 and 150bps respectively. , Guest
Post: Heightened Expectations And The Collapse Of Credibility , Mark
Grant And Rick Santelli On Europe: "It's A Ponzi Scheme To Be Honest With You" , Mystery
Of July Retail Sales "Beat" Solved: It Is All In The "Seasonal
Adjustment" The July retail
sales beat came as a surprise to many: an 0.8% increase (full
series here) at a time when the data was supposed to grow at less than half
this would surely be indicative of a potential turnaround in the US economy.
Then we decided to do a quick spot check if maybe the Census Bureau had not
adopted one of the BLS' worst habits: fudging seasonal adjustment factors. The
reason for this is because we happened to notice that Not
Seasonally Adjusted (full series here)
retail sales data in July actually declined
by 0.9% from $405.8
to $402 billion. Of course, if the Census Bureau was using a consistent, or at least remotely comparable July seasonal
adjustment factor as it has in the past, this would make sense and we would
move on. So we decided to look at what the July seasonal adjustment variance
over the past decade has been. What we found would have shocked us if indeed
this is not precisely what we expected: with
the July seasonal adjustment factor routinely subtracting a substantial
amount from the NSA number, averaging at -$5.2 billion, in 2012, for the first
time this decade, the seasonal adjustment not only did not subtract, but in
fact added "value" to the NSA number, resulting in a
seasonally adjusted number that was $1.9 billion higher than the NSA number at
$403.9 billion. , The
Financial Decline In Europe Continues
As Industrial Production falls -0.6% in Europe
and as the economy shrinks -0.2% there is once again a good reason to pause to
consider the ramifications for this going forward. When you sit back and take a
hard look at the last two years you begin to learn a few things. If you just
stick to the actual data and forget the rhetoric that surrounds it the picture
becomes clearer. Each and every
projection for Greece, Spain and Italy that has been forecast by the
EU and the IMF has been wrong; dead wrong. Europe
is getting worse and not better. Whether you turn your attention to Greece, Spain,
Italy, Portugal or even Ireland; it is getting worse. Nowhere on the
Continent are things improving and even in France
and Germany
the financial strains are beginning to show. It is not a question of Euro-bear
or Euro-bull; it is just the numbers as they come rolling out month after
month. It is the banks, it is the
sovereigns and grand visions must, in the end, give way to the facts.
14-Aug-12 05:50PM Did Standard Chartered Get Off Easy? How A $250 Billion
Allegation Turned Into A Measly $340 Million Settlement at
Forbes 05:28PM Happy Lost Half Decade, America! Just How Japanese Do We Look?
Part I at The Wall Street Journal
05:27PM JDS Uniphase Earnings: JUMPS Past Analyst Revenue Estimate at
Wall St. Cheat Sheet 04:39PM Bad News For Obama As U.S. Private Company Optimism Sours at
Forbes 04:39PM Bad News For Obama As U.S. Private Company Optimism Slips at
Forbes 04:26PM JDS Uniphase Earnings: JUMPS Past Analyst Revenue Estimate at
Wall St. Cheat Sheet 04:10PM Sorry, Gold Bugs: Gold, Oil Have Seen Correlations With S&P
500 and All Sectors Increase at Minyanville
04:00PM MARKET DOES NOTHING AGAIN: Here's What You Need To Know Business
Insider 03:31PM InPlay:
Stock indices slip under midday range lows -- Dow +6.1, S&P +0.8, Nasdaq Comp -2.5 Briefing.com
02:17PM Can the US Learn From Europes Budget
Struggles? The Exchange
01:27PM Retail Sales Good for Reality, Bad for QE Trade, Gold at
The Wall Street Journal 01:22PM InPlay:
Dow +10 and S&P +1.3 extend slide off midday bounce highs -- Nasdaq Comp -0.5 Briefing.com
12:45PM Get Ready for Three More Weeks of August Malaise! Maybe... at
Minyanville 12:40PM InPlay:
Stock indices slip back off midday bounce highs -- Dow +22, S&P +2.8, Nasdaq Comp -1.4 Briefing.com
12:09PM The TJX Companies Earnings: Five Quarters in a Row of Expanding
Margins, Net Income Rises at Wall St. Cheat Sheet
12:00PM From Socially Aware to Socially Attentive Investing at
Minyanville 11:42AM SNEAK PEEK: Staples Earnings at
Wall St. Cheat Sheet 11:41AM SNEAK PEEK: Targets Quarterly Earnings at
Wall St. Cheat Sheet 11:33AM Index, ETF option volumes near midday optionMONSTER 11:05AM S&P 500 'E Wave' Ready to Rally to Bull Market Highs at
Minyanville 11:03AM SPY, WFC, BRK.B, JPM: Large Outflows Detected at ETF at
Forbes 10:58AM SPY, WFC, BRK.B, JPM: Large Outflows Detected at ETF at
Forbes 10:56AM InPlay: S&P +2.9 holds again at
intraday support Briefing.com
10:44AM Wal-Mart Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 10:36AM Last August Expiration Was Ugly; Will History Repeat? at
Minyanville 10:19AM Abercrombie & Fitch Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 10:13AM Target Earnings Sneak Peek at Wall St. Cheat Sheet
10:11AM Staples Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 09:55AM Stocks Rise After Germany And France Skirt Eurozone
Slowdown at Forbes
09:36AM InPlay: S&P +3.8 quickly breaks above week long range
top, tests first level resistance Briefing.com
09:35AM SPX, VIX, INDU: Dow Reaches a Turn Window, VIX Suggests
Complacency Is High at Minyanville
09:29AM TJX Companies Earnings: Five Quarters in a Row of Expanding
Margins, Net Income Rises at Wall St. Cheat Sheet
09:25AM SPDR S&P 500 ETF, Michael Kors
Holdings Most Active Stocks in NYSE Pre-Market at
Minyanville 09:10AM If a Stock Doesn't Trade,Does it Make
a Sound? at Minyanville
09:00AM The 6-Week Options Trading Kickstarter:
Hedging, Portfolio Protection, and Avoiding Disaster at
Minyanville 08:55AM Pre-Market Primer: Retail Sales Charge Ahead, Eurozone Economy Nearing Recession at
Minyanville 08:42AM JM Smucker First Quarter Earnings
Sneak Peek at Wall St. Cheat Sheet
08:26AM Estee Lauder Earnings: Margins GROW, Net Income CLIMBS at
Wall St. Cheat Sheet 08:24AM Home Depot Earnings: Investors CHEER Double Digit Profit Growth
at Wall St. Cheat Sheet 08:20AM Hedging with ETF Options, No ETFs
Required at Forbes
08:15AM Hedging with ETF Options, No ETFs
Required at Forbes
08:05AM ES Support and Resistance for August 14 at
Minyanville 08:04AM [video] Stocks Look to Break Above Recent Resistance at
TheStreet 07:58AM Nationstar Mortgage Earnings: Falls
Short of Revenue Expectations at Wall St. Cheat Sheet
07:58AM Winning U.S. Stock Streak Calms at Dow 13,169 and S&P 1,404
at Wall St. Cheat Sheet 07:37AM Winning U.S. Stock Streak Calms at Dow 13,169 and S&P 1,404
at Wall St. Cheat Sheet 07:28AM Home Depot Earnings: Double Digit Profit Growth For Fifth
Straight Quarter at Wall St. Cheat Sheet
07:26AM Forget QE3, Let's Take Back QE2 If We Can: Opinion at
TheStreet 06:11AM Morning MarketBeat: It's Quiet Out
There, Sarge at The Wall Street
Journal
Posted on August 14, 2012
by News
Posted on August 14, 2012
by News
Posted on August
14, 2012 by News
Posted on August
14, 2012 by News
Posted on August 14, 2012
by News
Factory
owners: Federal prisoners stealing our business
CNN | Unicor’s prisons pay inmates as little as 23 cents an hour
to make goods for the Pentagon and other federal agencies.
You
Will Not Believe What Some People Are Willing To Do For A
Paycheck These Days
The Economic Collapse | It is
absolutely amazing what some people will do to make a living in this economy.
Ryan’s
Fiscal Policy: Austerity for the Plebs, Bombs and Bullets for the Warheads
Kurt Nimmo | And more play dough for the sharksters
on Wall Street.
‘It’s
a free. F***ing. Country’:
Jamie Dimon’s foul-mouthed rant as JP Morgan boss
attacks ‘banker bashers’
thisismoney.co.uk | Jamie Dimon, the boss of blue blooded US investment bank JP
Morgan, has launched a foul mouthed attack on ‘banker bashers’.
Alan
Simpson Confirms Reality: “All The Things You Love
Will Not Come To Pass”
Zero Hedge | Alan
Simpson laid out the sad and terrible truth that none of us or our politicians
can handle in a very direct and sincere interview withBloomberg
TV’s Deirdre Bolton.
Treasury:
U.S. to lose $25 billion on auto bailout
Detroit News | The Treasury Department
says in a new report the government expects to lose more than $25 billion on
the $85 billion auto bailout.
High School Dropout? Gov’t Will
Pay You 36% More Than Private Sector
CNS News | People who drop out of high school
and get a job with the federal government earn, on average, 36 percent more in
wages and benefits than their dropout counterparts in the private sector.
AP Business
Highlights
...Yahoo Market
Update…
Compendium of Important Business / National / World News / Topics /
Articles / Headlines
http://albertpeia.com/articlelinkspage3.htm
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
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 }