Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com
‘QUARTER ENDS WITH A WHIMPER 9-28-12
The troubles in Spain continue as the government tries to pull money
from their Social Security fund to buy some time through early November. The
bank stress tests there revealed a need for $60 billion in bailout funds. The
citizenry are still unhappy. When we lived in South America it was common for
business there to be done in cash because no one (capitalists, socialists and
communists alike) wanted to pay any tax period. When queried about this they’d
just say it was part of their Spanish heritage. If you used plastic for any
purchases the bill would be increased by over 10%, not for the card
transaction, but more so due to taxes. The government then had no recourse
except to impose import duties which was the only reliable way they could operate
the country. So the culture of demanding benefits without any willingness to
pay for them is the problem. The U.S. administration complains a similar
problem but the country has an all too sophisticated system of collection which
defeats the Spanish problems. That said, we have our own issues naturally. U.S.
economic data continues to disappoint. Personal Income didn’t meet expectations
(.1% vs .2% expected & prior .1%); Consumer Spending rose (.5% vs .5%
expected & prior .4%) meaning less income and more spending; the always
entertaining PCE rose (.4% vs .5% expected & prior 0%); the comical “core”
PCE (1.5% vs 1.3%) which is that food and energy we don’t use (wink, wink); the
Chicago PMI fell (49.7 vs 53 expected & prior 53) but within the data
employment was at a 2.5 year low and prices paid was 63.2 vs 57 previously;
and, U of Mich. Consumer Sentiment fell (78.3 vs 79 expected & prior 79.2).
Taken together the data prompted more “recession” talk. QE3 or 4 would
certainly fix all that…certainly. So the little
light volume rally from Thursday, which also featured horrific data, was undone
and all markets reversed course once again. Once again it seems investor
complacency is just too high that poor economic data will reverse, the eurozone
problems will be resolved and the fiscal cliff will be avoided. A stronger
dollar which may present itself at any point will hurt forward earnings. Nike
(NKE) earnings and outlook hit the stock hard but dollar valuation wasn’t a
factor. Earnings season begins in earnest early next month and large
disappointments can cause PE multiples to contract quickly. Then there’s the
election with results currently a coin toss. In 1980 Carter had the lead over
Reagan with as poor a record as Obama but the debates sealed the deal for him. It’s impossible to predict the next quarter but
portfolio managers did make their quarterly bonuses so they’re in good shape
for now. They might do well to save it for the Holidays. The dollar (UUP) was stronger once again; gold (GLD)
weaker; stocks (SPY) weaker; bonds (IEF) stronger; and commodities (DBC)
overall were also weak. Volume was
again increased on selling even as the markets attempted to halve early losses.
Breadth per the WSJ was negative…’
, 1.4
BILLION Spent On The Obamas In 2012 – British Taxpayers Only Spent 57.8 Million
On The Royal Family http://albertpeia.com/grifterobamaslivinglargeontaxpayerdime.htm { Yeah! These are typical, mooching, failing
(but fun-lovin’/party animals), unproductive niggers; and non-niggers should be
outraged! } While most of America is
suffering through one the worst economic downturns in U.S. history, the Obamas
are living the high life at your expense. During 2011, U.S. taxpayers
spent an astounding 1.4 billion
dollars on the Obamas. Meanwhile, British taxpayers only spent 57.8
million dollars on the entire royal family. Does anyone else see
something wrong with this picture? So where did the 1.4 billion dollars go?
That money paid the salaries of their staff members, it paid for their
transportation and housing costs, it paid for entertainment and vacations for
the Obamas, and $102,000 was even spent on a "dog handler" for the
family dog Bo. In his new book entitled "Presidential
Perks Gone Royal: Your Taxes Are Being Used For Obama's Re-election",
author Robert Keith Gray reveals some absolutely shocking details about the
enormous amounts of U.S. taxpayer money that are being…’ , Proof
Positive Than Central Banks and Central Planning Fail http://albertpeia.com/proofofcentralbankplanningfailure.htm
‘Regarding the recent Central Bank coordinated intervention, the key take-away
point is that the ECB and US Federal Reserve attempted “shock and awe” tactics
with their latest announcements by throwing out words such as “unlimited” and
“open-ended.”The implication here was that the Central Banks would do everything
they could to prop up the financial markets. However, as has been the case with
every Central Bank intervention, there are unintended consequences (ie.,
inflation, stagflation, etc.). The first unintended consequence concerns the
fact that both programs are essentially a form of “intervention to infinite.”
The problem with this is that the primary driver of stock prices over the last
three years has been the anticipation of more monetary stimulus from
Central Banks.Indeed, the New York Fed itself has openly admitted that were it
to remove the market moves that occurred around Fed FOMC meetings (the times
when the Fed announced new programs or hinted at doing so), the S&P 500
would be at 600 today.So, by announcing programs that will be on going
in nature, both the ECB and the Fed have removed the anticipation of
future Central Bank intervention from investors’ psychologies. This could
become highly problematic, especially if these latest announcements turn out to
be duds.Speaking of which…Spain’s ten-year bond yield has broken back above 6%.
To see Spain’s sovereign bond yields rising like this after the ECB
announced it would essentially provide “unlimited” buying as support is simply
stunning. And it indicates in plain terms that the ECB’s program was in fact a
dud.In other news, we find that even barely literate high school students have
a better understanding of job creation than Washington.In case you missed it,
recently the US public school system has implemented a series of reforms to
mandate what students should eat based on a healthier diet.The program was
spearheaded by First Lady Michelle Obama, who, despite not being a nutritionist
or having any sort of medical degree, has decided she knows what’s best for
children in terms of their diets.As a result of the reforms, the cost of school
lunches has risen by $0.20-$0.25 per plate. And students don’t like it. In
fact, many of them have begun protesting the reforms saying that they’re hungry
and the food portions are not enough…’
, Why
Does Our Society Look Down On Unemployed Men So Much? http://albertpeia.com/uslooksdownonunemployedmen.htm , First United Bank is 43rd 2012 U.S. bank failure , Chicago PMI drops into negative territory in Sept. , Alternatives
to the dollar Marketwatch Elizabeth O'Brien ‘The Fed’s latest stimulus program, QE3, has boosted risky assets
like stocks and commodities at the expense of the dollar. Here are some other
options…the currency’s long-term downward trajectory will continue, according
to these dollar bears. Many have looked to gold as the dollar began its slide
this summer. Drew Kanaly, a financial adviser at Kanaly Trust in Houston,
increased his clients’ allocations to gold through the SPDR Gold Shares
exchange-traded fund GLD
-0.26%
. Some have looked to capitalize on other currencies’
appreciation relative to the dollar. Donald Dempsey, a financial adviser in
Williston, Vt., shifted part of his clients’ international bond portfolios out
of the iShares JPMorgan USD Emerging Markets Bond fund EMB
+0.34%
and into the WisdomTree Emerging Markets Local Debt fund ELD
-0.15%
. The former gives investors exposure to international bonds
but not their currencies, whereas the latter does not hedge out, or erase, the
currency risk. Many emerging-market currencies have rallied recently, and the
WisdomTree fund allows investors to benefit from this appreciation along with
any changes in the underlying bonds’ prices (in the opposite direction,
investors get hurt if the currency declines). Anthony Welch, manager of the
$12.8 million Currency Strategies fund FOREX
-0.10%
, increased his exposure in mid-July to the Canadian and
Australian dollars, which have also recently outperformed the greenback. Both
countries’ economies are heavily tied to commodities, many of which are priced
in the U.S. dollar and tend to rally when the dollar declines. Over the past
five years, the Canadian and Australian dollars have risen against both the
euro and the U.S. dollar. (The U.S. dollar’s movements are often measured
against the U.S. dollar index, a basket of other currencies of which the euro
makes up 57%.)…it makes sense to adjust portfolios to reflect America’s
weakened economic position. Says Dempsey, “Longer-term, I have to feel safer
with some of these emerging markets that are running surpluses.” , The
Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In
Default ZeroHedge.com , Guest
Post: Welcome To The Era of 'Ugly' Inflation , All
Your Private Data Are Belong To Obama
, Fitch
Warns UK Likelihood It Loses AAA Rating Has Increased , Charting
The Death Of Europe's Bond Markets
, Goldman
Cuts Q3 GDP Forecast To Stall Speed 1.9%
, Fed
Buys $20 Billion In QE3 Mortgages; Jobs Created: Zero , The
Student Loan Bubble In 19 Simple Charts
, Cue
Stagflationary Recession: Chicago PMI Huge Sub-50 Miss, Back To September 2009
Levels; Prices Paid Spikes QE1,
QE2, Operation Twist 1, Operation Twist 2, a Fed balance sheet that is now
expected to be $5 trillion in 2 years, and all we get is a lousy manufacturing
economy that according to the Chicago
PMI just dipped into contraction, or for all intents and purposes,
recession, printing its first sub-50 print, 49.7 specifically, on expectations
of a 52.8, and down from 53. This was the lowest since September 2009 and the
biggest miss in 4 months. Specifically, the employment index came at a two and
a half year low, New Orders, Backlogs and Deliveries had their 3 month moving
averages at the lowest since Mid 2009, and Capital Equipment printed at a 17
month low. But not all hope is lost: at least prices paid soared for the third
consecutive month to 63.2 from 57. Cue not just recession, but stagflationary
recession. It also means that both the Manufacturing ISM and Q3 GDP will be a
total disaster. Time to start pricing in QE X to be followed 24 hours later by
QE X+1. The central bank cartel is starting to lose , Real
Disposable Income Has First Drop Since November 2011, Savings Rate Tumbles
Submitted by Tyler
Durden on 09/28/2012
American
Media Drums Up Support for War … Again Posted by:
George Washington Post date: 09/28/2012 - Israel Versus Iran: What’s REALLY Going On …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 }
