Business Summary Links By Day
There is No Engine
For Global Growth Pt 3 (the US) September 26,
2012 http://gainspainscapital.com http://albertpeia.com/theresnoengineforglobalgrowth3.htm
‘The following is excerpt from a
recent issue of Private Wealth Advisory. In it I
outline why the world is entering a stagflationary disaster. To find out more
about Private Wealth Advisory and
how it can help you crush the market… Click Here! ‘
{ I feel compelled to add here
what I felt was more than just a leap of faith by Mr. Summers who has in a
recent public issue stated that he believes the biggest frauds on wall street
will be brought to justice. Wow! That’s really all I can say. The next thing he might
say is that pervasively corrupt, defacto bankrupt america et als, along with
the manipulated fraudulent securities markets, are legitimate. Wow! In his
fact-filled renderings, focus more on Mr. Summer’s facts, fact-based inferences and conclusions,
and less on his unsupportable opinions as, ie., prosecutions of the biggest
wall street frauds are acomin’, or that meaningfully lawless america’s suddenly grown scruples. Wow! } ‘In the last
few days we’ve assessed how both China and Europe are no longer
engines for global growth. So what about the US? By all counts, the latest ISM
(a measure of manufacturing in the US) was a complete and total disaster. In
August the ISM hit 49. Anything below 50 is considered a recessionary
rating.However, things are even worse below the surface. The ISM is made up of
several components. Its Production component is back to May 2009 levels. The New Orders component is back to April 2009 levels.And worse of all, Prices Paid is up to 54, up from a
reading of just 39 in July. In simple terms this tells us that
inflation is hitting “lift off” in the US at the very same time that we are entering
a recession that could be on par with that of
2008. And with corn and soybean prices at or near record
highs, we could be on the verge of a stagflationary disaster combined with a
food crisis at the very same time. We get additional confirmation of a major
economic contraction from corporate earnings. Recently we’ve seen
earnings forecast cuts from Fed Ex, Bed Bath and Beyond, Proctor and Gamble,
Adobe, Starbucks, McDonald’s and more. Indeed, when you remove financials,
S&P 500 earnings FELL year over year for 2Q12. This is hardly indicative of
a strong economy. The fact a record number of Americans are on food stamps
doesn’t bode well
either. And the Rasmussen Employment Index indicates worker confidence is at
levels not seen since the FALL OF 2008! All of this, combined with the following:
1)
Median income today is lower than it was during at the end of 2009 (when the
recession supposedly ended)
2)
The percentage of Americans on food stamps has increased from 11% to nearly 15%
3)
The average unemployment duration has increased from 30 weeks to nearly 40
weeks
4)
The civilian employment to population ratio hasn’t budged
5)
Industrial production has yet to exceed its former peak (a first in post WW-II “recoveries”)
And this has happened despite the Fed’s massive
intervention in the markets/economy…’ ,
Dave’s Daily: http://www.etfdigest.com EUROZONE CONTAGION RETURNS TO MARKETS 9-26-12 ‘Sure we’re back from
a brief trip but we’re not a big
deal. No, it’s the rascals
in the eurozone who return to annoy us like a bad habit. Spain is front and
center now even as rioters are also out in full force in Greece. The issue in
Spain is quite simple. Spain needs a bailout but in order to qualify they must
meet “conditions” and that’s politically toxic to the
public. More austerity is something leaders just can’t sell although it’s said to be working on
this behind closed doors. Even the old province of Catalonia is threatening to
hold a referendum to secede from Spain.To make matters worse it isn’t just the eurozone making
things worse but in China as well. Shanghai indexes fell to levels not seen
since 2009 and are down nearly 10% on the quarter. This is the poor result even
as the PBOC cut bank reserve requirements and borrowing costs twice this
year. In the U.S. the Fed is underwriting the U.S. budget deficit through
its QE operations. This is like having economic policies in the I.C.U. and on a
feeding tube. When the ink runs dry the patient hits the “fiscal cliff” a la Thelma & Louise.There
was some excitement over New Home Sales data released Wednesday. Homes sold
disappointed dropping (373K vs 380 expected) but prices paid rose 11.2% which was a surprise. { No! Not so surprising given
the over-printed fiat currency/dollar debasement ‘strategies’ being employed even as
fewer and fewer are employed. }
Nevertheless the chart from the Fed shows things still trolling along
the bottom. http://albertpeia.com/bottomfeeders.gif
The big market boost from ECB and Fed
QE may have run its course for now. Perhaps the best we can hope for now is to
just churn about here barring more poor results. The Draghi & Bernanke Puts
should underpin markets but sometimes you just can’t overcome
the bad news with money printing. Even Bernanke said the Fed has done all it
can and now we await the election and the path forward with whoever wins.
Whoever wins won’t have an easy job given a lack of political
consensus.After a large rally it’s logical to see some profit-taking and a more cautious wait and see
approach. In this regard we’ve seen reversals with the dollar (UUP); gold (GLD);
equities (SPY); commodities (DBC); energy (USO); bonds (TLT); emerging markets
(EEM) and, in the eurozone certainly (EZU). Domestic U.S. sector ETFs such as
homebuilders (ITB) saw serious selling along with energy (XLE).Volume has
picked-up with selling these past two days and this is a typical pattern.
Breadth per the WSJ was negative overall…’ , Fed
Virtually Funding the Entire US Deficit
CNBC |
“If this
becomes the new ordinary, it’s hard to imagine the Fed’s
maneuvering room” should another crisis hit, economist Lindsay said. {
Another crisis? Folks, the nation is insurmountably defacto bankrupt, along
with a panoply of other problems, not the least of which is pervasive crime and
corruption. This is a crisis! } , Chicago
Fed Asks "What Are Asset Bubbles" As Its President Calls For Even
More QE , Guest
Post: Why QE May Not Boost Stocks After All , Europe
Goes Pear-Shaped , Gold
Holds As Equity Dead-Dog-Bounce Folds
, iNflation:
Americans Spend Less On Food, Movies To Pay For Soaring Cell Phone Obsession
Color us unsurprised by this litte gem
(via Bloomberg):
Today's quote of the day award goes
to...
AHMADINEJAD SAYS IRAN ECONOMY `CERTAINLY BETTER' THAN U.S., EU
What is interesting about this
discussion by the Washington Institute For Near East Policy, a Neocon
(Globalist) think-tank, is that its primary purpose is not necessarily to
debate the current political elements of the Iranian question. They
aren't contemplating the viability or morality of a war with Iran.
Instead, they are attempting to devise strategies by which the government could
CONVINCE the American public and the world that a war with Iran is the
"right thing to do", even if it means fabricating their own
justification. For them, the war is a forgone conclusion, and they will
do anything to make it a reality. { This world cannot afford war as ‘a strategy’!
}
Whether Atwater, California will join
the prodigious ranks of Stockton, San Bernardino, and Mammoth Lakes to become
the 4th Muni bankruptcy is up for vote on October 3rd (before a $2mm bond
payment in November). As Bloomberg notes, the 28,000-strong Merced county town
is suffering under the same weight
of public employee costs, lost revenue, and a stagnant economy leaving it with
a $3.3 million budget deficit. While some put their hope in
the FB IPO, perhaps Bernanke should have mandated investment in AAPL for all
these municipal comptrollers? The median income is 19% below the national
average as the foreclosure crisis - which saw Atwater's median home price drop
by more than half - has depleted property-tax revenues dramatically. "We just started negotiating with our unions
and they are going to have to take a major cut," Mayor
Joan Faul said. "We hope that once we declare a fiscal emergency, that
they will realize that we are definitely in an emergency. If they want to save all the jobs, everyone
is going to have to take a cut,"
Moments ago, the Census Bureau released the August
new single-family house sales number: at 373,000 on an annualized basis, it
missed expectations of a rise to 380,000, and was down from a revised 374,000.
This is only the second miss in 2012, and confirms that all talk of a housing
recovery is misguided, and merely represents one particular segment of the
housing market: that of existing home sales where buyers have all
cash, are price indiscriminate, and are willing to take advantage of the NAR's
exemptions from anti-money laundering provisions. I.e., US real estate is
merely a place to park cash for those who have obtained it using questionable
means. Looking at the number on a non-SAAR basis reveals that only 31,000
actual houses sold in August, of which 3,000 in the Northeast: surely a reason
to keep on bidding up the builders into the stratosphere: fear not, actual
sales will come. Eventually. Finally, and demonstrating that rich buyers focus
primarily on dumping money into existing mansions, was the distribution of
purchases by price bucket, which showed a (Z), or under 500 houses sold, in the
$750,000+ category. This was the first time there was a (Z) in this bucket
since February.
Violent
Protests Swirl in Spain As Regions Seethe
RT.com | ‘The
protesters called for members of Parliament members to be sacked for misleading
the voters with austerity measures.’
Quantitative
Easing Did Not Work For The Weimar Republic Either
Economic
Collapse | Did printing vast quantities of money work for the Weimar Republic?
Nope. And it won’t work for us either.
Is the era
of free checking accounts over?
The Week | The
financial industry is forcing customers to pay more just to park their money at
the bank.
Is
the Fiscal Cliff “Taxmageddon,” or Too Little, Too Late?
Thomas
R. Eddlem | The anti-tax foundation Americans for Tax Reform
has labeled the end of the Bush-era tax cuts that are scheduled to expire at
the end of this year .
The
Declining Economic Freedom Of The United States
Zero
Hedge | The United States, long considered the standard bearer for economic
freedom among large industrial nations, has experienced a remarkable plunge in
economic freedom during the past decade.
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 }