Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com
‘MARKETS IN
WAITING GAME 9-11-12 It was a mix of news Tuesday. The featured
story was Moody’s stating they’ll be cutting the U.S. rating one notch if
politicians can’t agree on debt reduction plans. Germany’s Schauble piled on stating U.S.
debt to GDP ratio was much too high. This sent the dollar (UUP) lower and gold
(GLD) higher once again. Gold is also being buffeted as South African miners
continue violence marred strike and have ignored orders to return to work. The
trouble here has thus far been ignored by the MSM domestically. Extraction
costs for miners are rising due to increased depths they must go yet strikers
want more pay. As this continues available gold supply is reduced. Elsewhere
the U.S. trade deficit remains high on poor exports but MacDonald (MCD)
reported better sales that still missed expectations. A riot developed at the
U.S. embassy in Egypt as Islamic protestors scaled the embassy’s wall,
tore down the U.S. flag and flew an Islamic flag in its place. They were
supposedly protesting a film that was negative in some way toward Islam. The
odd thing was no one could identify the film in question. Perhaps it was just a
9/11 stunt. All eyes will be glued to the German court Thursday which will
decide the constitutionality of bond buying and the ESM (European Stability
Mechanism). Most pundits think it will be approved but one never knows. What
takes place in California with Apple (AAPL) Wednesday may be just as important
as they unveil another “I got to have it” gizmos. Some have even gone so far as to speculate
that the new products will boost U.S. GDP all by themselves. Seriously!
This idea must not take into account that these gizmos are manufactured
overseas.Then of course there is Ben & Co which is part of the early
September waiting game. This means most investors are on the sidelines playing
the waiting game until Thursday afternoon. For us it makes posting short and
uninformative so why stretch it out.Stocks recovered Tuesday, well, because they
did. It isn’t unusual for a weak dollar to boost stocks
particularly as overseas investors see the U.S. on sale.Volume dried-up once
again and is hardly worth mentioning except for setting contemporary light
volume records. Breadth per the WSJ was positive…’
‘Yesterday we worked through the illusion to the
reality of the ECB’s “unlimited” bond purchases, the end result being that we
discovered the ECB:
1) Didn’t announce
anything new
2) Is implementing the same
policies it’s tried twice before with no success (see Greece)
3) Is implementing policies
that neither Spain nor Italy will go for…
And finally…
4) Has solved nothing due
to the fact that of the two mega-bailout funds, one has only €65 billion
in firepower left and the other has yet to be ratified by Germany
Today we turn our attention to the US’s Federal
Reserve where the whole world expects the Fed to announce QE 3 at its FOMC
meeting this Wednesday and Thursday.
There is a small problem of math with
this. The Fed currently owns all but just $650 billion of the
outstanding 10-30 year Treasuries. At this point, even a $200-300 billion QE
program would create serious liquidity problems for the financial system. So scratch
that idea off the list.
Of course, the Fed could potentially
implement another agency/MBS QE program. But that would be a very political
move with the Presidential election so close. This, combined with current food
and energy prices, makes it unlikely the Fed would want to do this: too many
consequences with too little to gain (stocks are at four year highs).
Indeed, if anything, the Fed is likely
to pull a “ECB” move, namely promising something vague that it
actually cannot deliver on. Why would the Fed do this? Because, like the ECB,
the Fed is running out of bullets. Indeed, St Louis Fed President James
Bullard all but admitted this to the Financial Times:
“I am a little – maybe more than a little bit – worried about the future
of central banking,” said James Bullard, president of the Federal Reserve
Bank of St Louis, in a Financial Times interview at Jackson Hole. “We’ve
constantly felt that there would be light at the end of the tunnel and there’d be an
opportunity to normalise but
it’s not really happening so far…” On that note, if you are not preparing
for a bloodbath in the markets, now is the time to do so. The reality is that
the Central Banks are fast losing their grip on the markets. They’ll never
admit this publicly, but I can assure you that Bernanke and pals are scared
stiff by what’s happening in the banking system right now…’
http://albertpeia.com/debaseddollardown.htm
‘The mainstream media in the United
States is almost totally ignoring one of the most important trends in global
economics. This trend is going to cause the value of the U.S. dollar to
fall dramatically and it is going to cause the cost of living in the United
States to go way up… If we keep debasing our currency like this, at some point
the rest of the world is going to decide that China and Russia have been right
all along and that we need a new global reserve currency.That day is
coming. It might not come tomorrow or next week or next month but it is
definitely coming.
Once the U.S. dollar loses reserve
currency status, that will be a major turning point in the history of our
country. We will never fully recover from that, and we will never get
back to the same level of prosperity that we are enjoying today.So enjoy
spending those dollars while you can. The party is almost over.’
September
11 – Eleven Years Later (Selected Statistics) ZeroHedge.com On the
anniversary of the most emotional day in our collective memory, here are
some key statistics in the interest of truth, justice and the American
way: http://albertpeia.com/september11stats.png , Guest
Post: De-Industrialisation And Male Jobs
, In
Response To Japanese "Antagonism" Over Senkaku Islands, China
Dispatches Two Patrol Ships { Wow!
Looks like war between China and Japan … Just kidding…Japan versus the 800
pound gorilla in the world?…Japanese command of math/probabilities is not that
bad! } , Guest
Post: Who Moved My Recession? Lakshman
Achutan, ECRI (Economic Cycle Research Institute) made a recession call for the US on
September 30, 2011 (and confirmed it multiple times since then). Gary Shilling,
titling his August letter “Global Recession”, says “We are already in
a global recession {This is
correct! } .” However, equity markets don’t think so, with the S&P 500
trading less than 10% away from a new all-time high. Only one side can be
right. Could this be a repeat
of October 2007, when the S&P 500 hit new all-time highs mere six weeks
before the “Great Recession” began? { Yes…regardless how drawn out by
manipulation they make it! } Are so-called leading indicators, as used by the Conference Board,
still reliable? { No! Stock prices being a prominent example but all are being
manipulated for show. } Established
leading indicators incorporate questionable input. While there is no perfect
indicator, a combination of the ones tested here, weighed by accuracy,
confidence and timeliness should produce a good reading. The higher-confidence
indicators say that 2011 was a “close call”, but we are currently not in a
recession. However, a lot of
lower-confidence indicators are showing readings consistent with a severe
recession. , Firm
That Brought You Holo-Tupac Dies Less Than A Year After IPOing, Taking Millions
In Taxpayer Subsidies With It
, Zuckerberg
Speaks - Wordcloud: Mobile 22; Profit 0
, Gundlach's
Chart-Porn And Buy China, Sell US
, Crossing
The Fiscal-Cliff Chasm, And Why Boehner May Be Right , Guest
Post: The Federal Reserve's Cargo Cult Magic: Housing Will Lift the Economy
(Again) I have often identified Keynesian
economists and the Federal Reserve as cargo cults. After the
U.S. won World War II in the Pacific Theater, its forces left huge stockpiles
of goods behind on remote South Pacific islands because it wasn’t worth taking
it all back to America. After the Americans left, some islanders, nostalgic for
the seemingly endless fleet of ships loaded with technological goodies, started
Cargo Cults that believed magical rituals and incantations would bring the
ships of “free” wealth back. Some mimicked technology by painting radio dials
on rocks and using the phantom radio to “call back” the “free wealth” ships. The Keynesians are like deluded members of
a Cargo Cult. They ignore the reality of debt, rising interest
payments and the resulting debt-serfdom in their belief that money spent
indiscriminately on friction, fraud, speculation and malinvestment will
magically call back the fleet of rapid growth. To the Keynesian, a Bridge to
Nowhere is equally worthy of borrowed money as a high-tech factory. They are
unable to distinguish between sterile sand and fertilizer, and unable to grasp
the fact that ever-rising debt leaves America a nation of wealthy banks and
increasingly impoverished debt-serfs.
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 }
