Business Summary Links By Day
It’s Time to Air Out Ben Bernanke’s Dirty Laundry http://albertpeia.com/rainmanhelicopterbensdirtylaundry.htm , What
Mitt Romney Also Said: A Glimpse Of The Endgame? ZeroHedge.com http://albertpeia.com/mittalsosaid.htm , 'Krugman's
Kryptonite' Pedro Schwartz On Creating Money Out Of Thin Air "A serious inflationary disaster will only be prevented if
governments succeed in reducing their deficits and stop selling bonds"
is how the infamous
destroyer of Krugman, Pedro Schwartz, describes the dangerous 'tennis
match' being played between The Fed and The ECB. In an excellent interview with
GoldMoney's James Turk, the Spanish 'Austrian' economist talks about bank
regulation, the creation of money out of thin air, and the beauty of a trult
free market system. From fictional reserve lending to the fragility (and
boom-bust cycles) of our financial system, the mild-mannered
'Keynesian-Krusher' concludes that "there has to be a change in social mentality - so that people realize
that nothing is free, and the government has to
shrink." , The
Fate Of The Rally Now Rests In The Hands Of The US Consumer A funny thing happened on the way to
QEternity - multiples expanded by an aggressive 2x to reach their highest in
two years as the print-gasm hope was 'priced in' to the nominal value of the US
equity indices (and fundamentals didn't matter). During this period, which was
all about anticipation of the Fed, the real economy (that is earnings and
revenues) have been disappointing. From here, now that Ben has blown his
eternal wad, it is up to EPS and multiples - which leaves us with a little
problem. As the chart below shows, the next few quarters are the very picture
of hopes, dreams, and unicorns as Q4 EPS is somehow magically expected to stop a straight line decline in
YoY profits - and soar by 10%. The driver of this miracle is
the good old US Consumer - as discretionary spending now accounts for 100% of the expected EPS growth
and 300% of the revenue growth for the post-election,
pre-year-end extravaganza that is the lame-duck 'fiscal-cliff'-denying lead up
to the holidays. As we said yesterday, either you believe in math or you
believe in magic. , Bonds Up, Stocks Up
(Just) Equity markets drifted from
an unch open to the overnight post-BoJ highs - albeit in an 8 point range and
low volumes once again, before giving
it all back in the last few minutes - as it dumped to VWAP
(again!!). In other 'real' markets, Treasuries rallied - led by the long-bond playing catch
up, the USD sold off on the day - aside from a post-BoJ recovery higher which
was dissolved into the US day session open, Gold/Silver/Copper inched higher as
the USD weakened but Oil
continued its post-QE ritual sacrifice - now down 5.5% from
pre-FOMC (back under $92) as the Saudi's promise more supply and the IEA build
was heavy. Credit markets underperformed - but we suspect this was pre-roll
moves and is not too signal-prone. Some standouts in the unreal world of our
efficient equity markets, JCP's remarkable rip-and-dip, AAPL's rapid
devolution from record highs to VWAP and an unch close at the last minute on
huge volume, and QCOR's multiple-halt day ending down 48%. VIX (fell
modestly) and the S&P 500 are back in sync and tracked each other all day. After the day-session close (small green),
S&P futures drifted further down and ended practically unchanged - on a
heavy volume push.
, Norfolk
Southern, Adobe Cut Outlook , South
African Violence Returns As All Miners Demand Pay Hike , Sentiment
Nearing Record Bullishness While we
are bombarded with talking heads telling us that there is
money-on-the-sidelines and everyone is so bearish with the market climbing a
wall of worry, the reality - as we see across multiple asset classes - is that
investors are overweight risk assets (e.g. credit investors overweight IG and
HY and mutual fund cash at record lows), near-extreme levels of bullishness (AAII and Put-Call
Ratios), near extreme levels of non-bearishness (AAII), and yet credit
investors believe markets are overvalued (though still buying) even as IG and
HY bonds are seeing near-record highs in advance-decline. , Gundlach
Is Not A Fan Of Socialism, Thinks Apple Is "Over-Bought" "the obsession with Apple is a truly remarkable social phenomenon - the
stock is over-believed and over-bought. There is NO exit
for the Fed, QE3 will be ineffective, and it is more likely that the Fed buys all the Treasury bonds that exist." , Guest
Post: The Inevitable Decline Of Retail
, Prepare
For A 15% Food Price Surge, Rabobank Warns
The record US, and global, drought has come and gone but its
aftereffects are only now going to be felt, at least according to a new
Rabobank report, which asserts that food prices are about to soar by 15% or
more following mass slaughter of farm animals which will cripple supply once
the current inventory of meat is exhausted. From Sky
News: "The worst drought in the US for almost a century, combined with
droughts in South America and Russia, have hit the production of crops used in
animal feed - such as corn and soybeans - especially hard, the report said. As a result farmers have begun slaughtering
more pigs and cattle, temporarily increasing the meat supply - but causing a
steep rise in the price of meat in the long-term as production slows.
"Farmers producing meat are simply not making enough money at the moment
because of the high cost of feed," Nick Higgins, commodity analyst at
Rabobank, told Sky News. "As a result they will reduce their stock - both
by slaughtering more animals and by not replacing them." Somewhat
ironically. food prices are now being kept at depressed prices as the
"slaughtered" stock clears the market. However once that is gone look
for various food-related prices to soar: a process which will likely take place
in early 2013, just in time to add to the shock from the Fiscal Cliff, which
even assuming a compromise, will detract from the spending capacity of US (and
by implication global) consumers.
, Guest
Post: The Trouble With Printing Money
, ECB
Debasement Is Akin To Work Of Devil – Risk Of “Rapid
Currency Depreciation” , August
Housing Starts Less Than Expected, Rise From Downward Revised Print , JPY10
Trillion Intervention Half-Life: 5 Hours; Full Fade: 9 Hours , Chinese
Protesters Chant "Down With US Imperialists", Attack Car Of US
Ambassador In Beijing
Submitted by Tyler
Durden on 09/19/2012
The Trouble with
Printing Money
peakprosperity.com | QE3
reflects a colossal failure to address our predicament.
Michael
Snyder | The Federal Reserve is absolutely crushing savers
and is systematically destroying Social Security.
“Dollar
Index Headed for Rapid Collapse” Over Next 3 to 4 Weeks
Mac
Slavo | If you think the Federal Reserve’s
quantitative easing will only affect the US dollar, think again.
Fake Gold
Bars Are Being Sold In New York
Business
Insider | The Secret Service is reportedly investigating the
matter.
Beijing hints
at bond attack on Japan
London
Telegraph | A senior advisor to the Chinese government has
called for an attack on the Japanese bond to bring the country to its knees.
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 }