Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com ‘ACCIDENT PRONE RALLY 8-23-12 Jobless Claims rose
(372K vs 365K expected & prior revised higher again to 368K). Claims have
been revised higher for 32 consecutive weeks. The PMI Mfg Flash Index rose
slightly (51.9 vs 51 expected & prior 51.8). The Bloomberg Consumer Comfort
Index fell (-47.4 vs 44.4 previous). New Home Sales rose (372K vs 362K expected
& prior 350K) and FHFA Home Price rose (.7% vs .6% expected & prior .8%).
So as far as U.S. data is concerned things were mixed. Rubbing salt in the
wounds of the unemployed was the statistic
from Reuters 2.7 M U.S. jobs have been outsourced to China. In the eurozone
Merkel and Hollande met, the eurozone economy contracted (PMI 46) for the 7th
straight month. In Asia China Mfg data weakened (47.8 vs 49.3) and investors
rallied many Asian shares on the belief there will be more QE and other
stimulus. Pimco’s Mohamed El-Arian outlined what the
eurozone has to do now beyond the talk. In other words, there is no margin for
error. The dollar (UUP) fell sharply since some must think the euro is a safer
bet which seems odd. As Bucky fell gold (GLD), silver (SLV) and commodities
(DBC) overall rallied sharply. As stocks fell sharply bonds (TLT) rose. The nervousness
about markets is ubiquitous. Fear of being left out of equity rallies now
equals staying in it seems. Further it was reported Thursday that only 58% of
the 2300 companies reporting earnings have beaten expectations and 48% beat on
revenues—the lowest since 2009. Stocks fell sharply as the air
pocket was there staring us in the face given the light volume. Some disasters
of the day included (HPQ), (GES), (BA) and (X) to name a few. Volume on the
decline remains light even as selling intensified which just shows the total
lack of participation light even by August standards. Breadth per the WSJ was
negative. Investment Tip: We exited many positions due to DeMark weekly
9 counts which was “a tell” that
markets were stretched. It didn’t predict the top certainly coming the Monday of last
week but no indicator is perfect. Become a premium member and benefit from
these signals…’, Marc
Faber: Odds of Global Recession Are 100%
, Republicans
Consider Returning To Gold Standard: Real Or Red Herring? ZeroHedge.com Tyler Durden Stranger
than fiction perhaps but the
FT is reporting that the
gold standard has returned to mainstream US politics for the first time in 30
years with a 'gold commission' set to become part of official Republican party
policy. While this could simply be a reach for as many Ron Paul
marginal voters as possible (with the view that the GOP would never really go
for it); it appears drafts of the party platform from the forthcoming
rain-soaked convention call for an audit of the Fed and a commission to look at
restoring the link between the dollar and gold. The
FT, citing a spokesperson, adds that "There is a growing recognition within the Republican
party and in America more generally that we’re not going to be able
to print our way to prosperity," but "We’re not
going to go from a standing start to the gold standard," although it would
provide a chance to educate politicians and the public about the merits of a return
to gold. Interestingly, the Republican platform in 1980 referred to
"restoration of a dependable monetary standard", while the 1984
platform said that "the gold standard may be a useful mechanism." , JPM's
London Whale May Face Jail Time For Mismarking Billions In CDS , China
Has Become One Big "Stuffed Channel" Zero Hedge covered the topic of automotive channel
stuffing long before it became a conversation piece, particularly as it
pertains to Government
Motors, a story which has recently taken precedence after being uncovered
at such stalwarts of industry as German
BMW
and Mercedes, implying the German economic miracle may, too, have been
largely fabricated. Another core topic over the years has been the artificial
and inventory-stockpiling driven (in other words hollow) "growth" of China's
economy, whose masking has been increasingly more difficult courtesy of
such telltale
signs of a slowdown as declining electricity consumption and off the charts
concrete use. It was only logical that the themes would eventually collide and
so they have: the New York Times published "China
Besieged by Glut of Unsold Goods" in which, as the title implies, it
is revealed that China is now
nothing more than one big "stuffed channel." , Guest
Post: The Most Important Chart In TheWorld
In a nutshell, charting
this ratio demonstrates the 'real' return on stocks adjusted for inflation or
currency debasement. As we all know, the Zimbabwe stock
market essentially went up to infinity during their hyperinflation but did
anyone get rich from that? Of course not, the shares were denominated in
a currency that was on its way to worthlessness. The key thing with the
Dow/Gold chart is that it perfectly mimics the various social moods and massive secular trends that exist
in the economy over very long periods of time. It is just
as effective in periods of deflation as in inflation in telling you the true
story. In both of the prior two periods (one deflationary and one inflationary)
the DOW/GOLD ratio got down to about 1:1. It has been our contention for
many years that we will see that same ratio once again. That would imply
another roughly 75% drop in stocks to gold and Mike Krieger expects that this
next leg is beginning now. , On
Economic Deceivers And Propagandists
, Why
In America It Pays To Be An Old, White, Widowed, Native-Born Female; Everyone
Else Is Out Of Luck , 5 Year
TIPS Price At Record Low -1.286%
, Guest
Post: Venezuela Ramps up China Oil Exports Unsettling Washington , The Beginning
Of The End For John Paulson? , Guest
Post: Spreading Insolvency Around Does Not Create Solvency The entire global financial
"recovery" engineered by central banks and Central Planning is based
on the absurd notion that if we spread unpayable debt over the entire body
politic (be it a nation or regional entity such as the European Union) then
that distribution will somehow make the debt payable and the phantom assets
real. The debt remains
unpayable and the assets (collateral) remain stubbornly phantom.
As for adding more debt (selling Eurobonds, Treasury bonds, etc.), please note
the diminishing return on additional debt: it is now negative.... Diminishing
returns define the flailing financial system: the return on petrocapitalism is
declining (how many barrels of oil or equivalent does it take to extract and
process one barrel of shale-derived oil?), the return on more debt has turned
negative, the yield on "saving" bankrupt States is marginal, and so
on: spreading insolvency to the taxpayers does not magically create solvency,
it only distributes insolvency to every nook and cranny of the economy. All the debt remains painfully real; it is
only the collateral that is illusory.
, Slumping
Commercial Real Estate Sales Are Latest Flashing Red Non-Recovery Indicator , The
European "No Action, Just Talk" Rumor Mill Is Back , Spot
The Housing Bottom: New Homes For Sale Drop To Lowest Ever; Average New Home
Price Plunges To 2012 Lows , Greece
Ready To Start Selling Its Islands
, Newsflow
Sentiment Confirms Global Recession
, Gold
And Platinum Surge As Mining Unrest Spreads
A decidedly more accommodative tone
evident in the FOMC minutes from the 31-Jul/01-Aug meeting, with “many” members in
favor of additional measures sooner rather than later in the absence of “substantial
and sustainable strengthening” in the economy. The market is now broadly
anticipating that the Fed announces additional measures in the coming weeks.
Weak manufacturing data out of China
intensified speculation that the PBoC would ease further as well. And finally,
there are rumors circulating based on an article in Die Welt that the ECB is
contemplating “secret” rate targeting. The rate targeting idea is bad
enough, but secret rate targeting srikes me as just plain silly, as I explained
in an earlier post. However, I do think it is reflective of just how desperate
policymakers are to find a way to give the old proverbial can one more kick
down the road.
• US new home sales +3.6% to 372k, above expectations
of 369k, vs upward revised 359k in Jun.
• US initial
jobless claims +4k to 372k for the week ended 18-Aug, above expectations of
365k, vs upward revised 368k in previous week.
• Eurozone
Markit Composite PMI – Flash ticked higher in Aug to 46.6, vs 46.5 in Jul;
Services lower at 47.5; Manufacturing better at 45.3.
• Eurozone
consumer confidence – Flash fell to -24.6 in Aug, vs -21.5 in Jul.
• Germany Q2
GDP (sa) – 2nd release +0.3% q/q, vs +0.3% previously; +1.0 y/y
(wda); +0.5% y/y (nsa).
• Germany Q2
exports +2.5% q/q, vs negative revised +1.2% in Q1; imports +2.1% q/q, vs
negative revised -0.2% in Q1.
• Germany
Markit Manufacturing PMI – Flash rose to 45.1 in Aug, vs 43.0 in Jul; Services
48.3, vs 50.3 in Jul.
• France
Markit Manufacturing PMI – Flash improves to 46.2 in Aug, vs 43.4 in Jul;
Service 50.2, vs 50.0 in Jul.
• China
Leading Indicators +0.7% in Jul, vs negative revised UNCH in Jun.
• China
HSBC/Markit Manufacturing PMI – Flash fell to 47.8 in Aug, vs 49.3 in Jul.
• Singapore CPI
+4.0% y/y in Jul, vs +5.3% y/y in Jun.
• Taiwan
industrial output 0.0% y/y in Jul, vs -2.4% y/y in Jun.
Texas judge warns of possible ‘civil war’ if President Obama is
re-elected
Romney: My health care plan is superior to Obama's
Obama campaign unleashing 'the Big Dog' in battleground states
{ Riiiiight! The big dog…who found a way to poop up the
presidency after being gifted with a huge end of cold war peace dividend
courtesy of predominantly Reagan. Yes, on route to blowing the job, despite his
support for NAFTA, he did get quite a few…blow(n)
jobs… http://albertpeia.com/bigdogpoop.htm }
Republicans
eye return to gold standard
Financial
Times | “A return to a fixed money supply would also remove
the central bank’s ability to offset demand shocks by varying interest
rates.”
Jobless Claims
Rose Slightly Last Week
npr.org | There
were an estimated 372,000 first-time claims for unemployment insurance last
week, up by 4,000 from the week before.
8
Economic Threats That We Were Not Even Talking About At The Beginning Of The
Summer
The
Economic Collapse | In the crazy times in which we live, it helps to expect the
unexpected.
Greece
Ready To Start Selling Its Islands
Zero
Hedge | A year ago the mere mention of Greece selling its real estate, let
along its prized islands, was enough to fill Syntagma square with tear gas,
laser light pointers and the occasional riot dog.
Citi Sees
Greek Exit As Soon As September
Zero
Hedge | “Prolonged economic weakness will persist.”
bullionbullscanada.com
| The World Gold Council recently released its second quarter statistics on
gold “demand and
supply trends”.
8
Economic Threats That We Were Not Even Talking About At The Beginning Of The
Summer
The
Economic Collapse | In the crazy times in which we live, it helps to expect the
unexpected.
AP Business
Highlights
...Yahoo Market
Update…
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
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
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.
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
Postal Service loses $3.2b in first quarter...
78% of
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{ some prior links of current
interest }