Business Summary Links By Day
14
Signs That The World Economy Is Getting Weaker http://albertpeia.com/14signsworldeconomyweaker.htm
The United States is not the only one with massive economic problems right
now. The truth is that just about wherever you look around the globe things
are getting even worse. China is experiencing a substantial economic
slowdown, and Japan has resorted to yet another round of money printing in an
effort to keep the Japanese economy moving. Unemployment in Europe
continues to get even worse, and the riots this week in Spain and in Greece
have been absolutely frightening at times. In the United States there are
a whole host of signs that another recession is approaching, and the number of
American CEOs that say that they plan to eliminate jobs in the coming months is
rapidly rising… , Dave’s
Daily: http://www.etfdigest.com
QE TRUMPS HORRIBLE ECONOMIC
DATA 9-27-12 You couldn’t have dreamed-up the
crummy economic data received Thursday. The leading stinkers were GDP (1.3% vs
1.7% expected) and Durable Goods Orders (-13.2% vs -5% expected & prior
4.2%). Along for the ride were Pending Homes Sales (-2.6% vs .3% expected &
prior 2.4%) and Jobless Claims which beat (359K vs376K expected & prior
revised higher to 382K). The bullish spin for the poor GDP data was it was
caused by the drought that doesn’t jive with
the calendar, as it doesn’t support
such a claim. The poor Pending Home Sales data was spun by bulls as caused by a
lack of inventory. Of course this is hilarious since if you asked any banker
with REO and they’ll tell you
they have plenty of inventory. Jobless Claims data looked positive on the
surface but “headline” numbers showed claims down
by 141K but cumulative “revisions” show only 2K lower in 2012
as chart below shows. In an election year unsurprised the Department of Labor
has asserted it may have underestimated job growth by 380K. (There will be
plenty of spin there.) http://albertpeia.com/joblessclaimspinandreality.gif
Spain of
course remains in the headlines as the budget process is slowly being unveiled.
It seems to be more about buying some more time than doing anything
constructive. Frankly they’re borrowing
from their social security trust fund, which might see them through October.
Per BNP with a hat tip to Zero Hedge:
‘Since
the Great Crisis began in 2007 the Fed/ Feds have done the following:
That’s one heck of a list. And the worst part is I know I’ve left
something out somewhere.
However, despite this incredible
intervention, the economy remains in the toilet. Indeed, adding to the more
evidence that the alleged “recovery” is in fact a load of BS category… we have
the latest survey of small business owners. Small businesses (50 employees or
more) account for 75% of job creation in the US.
“Instead of smoothing the way, our government
continues to erect more barriers to growth through burdensome regulations that
increase costs for small businesses and all Americans,” NFIB
president Dan Danner said…’ , How
Crony Capitalism (Or The 'Undiluted Lunacy' Of The Fed) Corrupts The Free
Markets , How
The Fed Crushed China's Ability To Join The Ease-Fest , Why
The Wealth Effect Won't Support The US 'Recovery' , Santelli
Vs. Liesman; Broken Pipes, Trickle-Down Frowns, And 'Imaginary' Inflation , Stocks
Ramp, PMs Ramp More, Oil Ramps Most
The world and their mum will be overjoyed all is fixed again in Spain
and Apple can be bought safely as today's ramp-a-palooza in risk-assets
indicates. However, the 100-pip run in EURUSD which 'correlated-ly' ramped
everything did more damage than good in the long-run as Oil prices surged off their
'see QEternity inflation is only transitory' way. WTI topped $92 (up over 3%
off yesterday's lows) as Gold and Silver surged on the day to end up around
0.25% on the week (in the face of a 0.25% strengthening in the USD on the
week). JPY strength and moreover EUR's push dragged the USD 0.5% lower from
yesterday's peak and provided just the lift to get the S&P back to Monday's lows, filled a gap
in AAPL's chart and lifted the financials ETF briefly back up to unch from
pre-FOMC. Volume and trade size was large as we ramped and
drifted once we topped - which smells a lot like pros selling into a
stop-run-driven strength. Equities
pulled back into the close (even as VIX limped back under 15% down almost 2
vols today) catching down to risk-asset's slightly less ebullient perspective. , Egan-Jones
Downgrades Spain To CC From CC+
, Here
Is The White House Spin On Today's Disappointing Economic Data A massive 13% collapse in durable goods, the
biggest since January 2009; a $20 billion miss to annualized Q2 GDP estimates,
and well below the lowest estimate, 60+ weeks of constant upward BLS revisions
to initial claims "data" and not to mention assorted atrocious
economic (note: not to be confused with market - the two are now completely
unlinked) data from around the globe. And what does the White House say: the
data shows that the "US is making progress." We sure wouldn't want to
know what it would look like if after 3 episodes of easing, trillions injected
into the economy via the Fed, and of course $6 trillion in extra debt the US
was not making
progress. Oh and yes, everything else is Bush's fault.
Submitted
by Tyler Durden on 09/27/2012
In the midst of the Great Depression, Treasury
Secretary Andrew Mellon famously advised President Hoover to “liquidate labor,
liquidate stocks, liquidate farmers, liquidate real estate” instead of propping
each industry up with tax dollars. This liquidation doctrine would “purge the rottenness out of the
system” and make certain that “people will work harder” and “live a more moral
life.” Contrary to popular belief, Hoover did not take
Mellon’s advice and went forth with his own version of the New Deal that gave
relief to farmers and supported wage rates in certain industries. These
efforts, which were exacerbated under the presidency of Franklin Roosevelt,
effectively prevented the market from clearing. The boom of the late 1920s that was driven
by the Federal Reserve’s monetary inflation was not allowed to bust.
Instead of liquidating the debt and allowing the economy to reach a sound
footing, both the Hoover and Roosevelt administrations attempted to manage it
back to health. The
result was the longest period of unemployment ever recorded in American
history.
Submitted
by Tyler Durden on 09/27/2012
Durable Goods orders expectations were
pushed down to a dramatically low -5.0% after last month's dismal reading and
the PMI data since but the print
at -13.2% is mind-blowingly bad. Perhaps this is the sneak peek that Ben had?
This drop is the largest
since January 2009 when world trade had fallen off a cliff. It
appears the seasonal-adjustments are the driver of the plunge as NSA is -7.2%
(still very weak for August). We are sure there will be calls for the V-Shaped
recovery from this but with a very different stimulus-environment around the
world (i.e. jaded and soaked in much more debt), we suspect that will be less
than forthcoming. The sub-indices were all weaker than expected but we note
that defense -40% and non-defense aircraft orders plunged. On the bright
side, all this terrible production data inspired less layoffs as Initial claims beat expectations modestly
falling to its lowest (best) in two months - sigh.
Reuters | Israeli Prime Minister Benjamin
Netanyahu drew his “red line” for Iran’s nuclear program on Thursday.
Will
Israel Blow Up Something and Falsely Blame It On Iran? Posted by:
George Washington Post date: 09/27/2012 - Will Israel Launch a False Flag Against Iran
to Start War? { Yeah … what if
they started a war and nobody else came.
After all, israel will always do what’s good for israel and israelis,
everyone be damned ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) ; but, for
quite some time, what’s good for israel
is not so good for the rest of the world, and america particularly.
Indeed, israeli agents were caught cheering the 9-11 world trade tower debacle
on the banks of the Hudson. Mission accomplished? It was rather pathetic if not
absurd to see netanayahoo talk about the ‘Iranian red line’ when israel’s past
the red line many times over with their illegal nuke program and deployment of
in excess of 200 illegal, undeclared nukes. }
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 }