Archives for April 2012

Biderman On The Fed: "They Control The Market, We Play With Their Money"

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The pastel-wearing President of TrimTabs proffers an entirely non-perfunctory prose explaining why he believes we are now due for a stock market decline. Echoing our thoughts, Charles notes that "It's the Federal Reserve that controls the market, it's their money, they're the boss, we […]

Yale’s Shiller: World in a 'Late Great Depression'

The global economy is mired in a "late Great Depression" despite central bank stimulus policies, says Yale economist and author Robert Shiller. "Our whole economy has been affected by variations in confidence. Central banks are sort of trusted, but the actions they have often affect people’s confidence by appearance rather than substance. We’re not in […]

Stiglitz – Politics Is At the Root of the Problem

Courtesy of Jesse's Cafe Americain  Where Stiglitz refers to 'free markets' here, he means the 'efficient markets hypothesis.' That is, if markets are left entirely to their own devices they will manage themselves, honestly and efficiently. Government and regulation are the problem, and they distort markets. Therefore if you 'free' markets from the influence of imperfect […]

Akamai and NetEase for Bargain Hunters (& A Significant Insider Buy)

By Declan Fallon Tech news for this week was dominated by Apple's earnings. Apple's staggering 35 million iPhone sales in Q2 offered a major shot in the arm after an unusual – for Apple – drift in its share price.  Estimize consensus was looking for an iPad driven quarter which probably means Apple has kept this one in the […]

Illinois Borrowing Costs Rise by 22.5%, Expect Conditions to Worsen; Sideline Cash Nonsense From Nuveen

Illinois Borrowing Costs Rise by 22.5%, Expect Conditions to Worsen; Sideline Cash Nonsense From Nuveen Courtesy of Mish Illinois borrowing costs are poised to rise about 22.5%. The nominal increase is about .34 percentage points as reported by Bloomberg.  Illinois plans to sell $1.8 billion of general-obligation debt tomorrow as its relative borrowing costs may increase by […]

Why the U.S. Dollar is Critical for the S&P 500 Index this Week

Why the U.S. Dollar is Critical for the S&P 500 Index this Week BY J.W. JONES of Options Trading Signals Unfortunately I was sick the past few weeks and I am just now getting back into the swing of things. Similar to the demand pull that the warmer than usual spring has had on macroeconomic data, […]

Excerpt From 'Debt Generation' – We Are All Kettled Now

Courtesy of Jesse's Cafe Americain We Are All Kettled Now For anyone who has never been ‘kettled’ it is when the police at a protest suddenly close ranks and refuse to let anyone leave. You suddenly find you are held against your wishes. The police will not explain why, and they won’t allow any exceptions. You […]

Capitalism Without Failure: Bill Black: The Fraud Recipe for CEO's…

Bill Black: The Fraud Recipe for CEO's, Why Banks Hate Free Markets and Love Crony Capitalism, and the Dysmal Legacy of Mainstream Economists Via Capitalism Without Failure The selected notes below are from William K. Black's presentation at the Modern Monetary Theory Summit in Rimini, Italy, in Febuary of this year.  The audio is embedded in this […]

Dallas Fed Plunges Negative. Biggest Miss In 10 Months

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While the Dallas Fed Manufacturing Index tends to be a little less of a headline-maker  than many of its macro-data peers, today's dismal report is worth paying attention to. The index turned negative for the first time this year, dropped to its lowest level […]

The New-Normal Class Warfare: Old vs Young?

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While the most commonly held perspective on the aging demographic in the US is a retiring Boomer generation that is increasingly risk-averse (rotating to fixed income) and in desperate need of a growing segment of the healthcare pie, it appears that this may not […]

Hugh Hendry is Back – Full Eclectica Letter

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Hugh Hendry is back with a bang after a two year hiatus with what so many have been clamoring for, for so long – another must read letter from one of the true (if completely unsung) visionary investors of our time: "I have not […]

Myth Buster:TARP Bailout May Realize A Positive Return for Taxpayers?

Courtesy of www.econmatters.com. By EconMatters The Troubled Asset Relief Program (TARP) is a program initiated by the US government, funded by taxpayers, in October 2008 to bail out the banking and housing sector after the 2008 financial crisis. Due to the program’s complexity and “repayment” schemes, there has been different estimates of what TARP would […]

Myth Buster: TARP Bailout May Realize A Positive Return for Taxpayers?

Courtesy of www.econmatters.com. By EconMatters The Troubled Asset Relief Program (TARP) is a program initiated by the US government, funded by taxpayers, in October 2008 to bail out the banking and housing sector after the 2008 financial crisis. Due to the program's complexity and "repayment" schemes, there has been different estimates of what TARP would […]

Giant Sucking Sound; Demand for Credit in Europe Collapses; Pritchard Misses the Boat

Giant Sucking Sound; Demand for Credit in Europe Collapses; Pritchard Misses the Boat Courtesy of Mish In a report on fixed income, David Owen, Chief European Financial Economist at Jefferies, notes that demand for credit in Europe has plunged. Owen asks Is it the supply or demand for credit that matters?  25 April 2012 Perhaps the most […]

On Student Loans, Accounting Gimmicks, Electric Cars, FX and a note on SS

Courtesy of Bruce Krasting   Student Loan Battle There was a big fight in D.C. this past week over student loans. The issue is a scheduled increase in interest on new student loans from 3.4% to 6.4% set for July 1. Clearly this is a dumb plan. I don’t see any political opposition to the idea […]

The No Retirement Plan: 25% Expect to Work Till 80 (Greater than Life Expectancy)

The No Retirement Plan: 25% Expect to Work Till 80 (Greater than Life Expectancy); What About the Expected Retirement of Nuclear Power Plants? Courtesy of Mish Given major delays in retirement plans, 80 is the new 65 says CNN Money.   A quarter of middle-class Americans are now so pessimistic about their savings that they are planning to delay retirement […]

GDP Miss Far Bigger Than Announced; Real GDP is 0% Using More Reasonable Deflator

Courtesy of Mish  The Advance Estimate for Q1 GDP came in at 2.2%, down from 3.0% in the previous quarter, and below most mainstream media estimates of 2.5%. However, my friend BC notes …. The GDP deflator is reported to have averaged 1.2% annualized in the past 2 qtrs. Had the trend rate from '11 persisted, […]

Why Is It Necessary For The Federal Government To Turn The United States Into A Prison Camp?

Why Is It Necessary For The Federal Government To Turn The United States Into A Prison Camp? Courtesy of Michael Snyder of Economic Collapse  There has been no society in the history of the world that has ever been 100% safe.  No matter how much money the federal government spends on "homeland security", the truth […]

53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed

53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed Courtesy of Michael Snyder of Economic Collapse  If you are in college right now, you will most likely either be unemployed or working a job that only requires a high school degree when you graduate.  The truth is that the U.S. […]

How Government Should Cheat on the CPI

It's bad enough that the government measures inflation as "core inflation" excluding energy and food, as though we aren't buying those things. But now both parties want to save money by switching to another measure of inflation that substitutes the favorite things you buy for inferior products you don't want – because if you switch […]

Eurozone Retail Sales Plunge at Strongest Pace Since Late-2008

Eurozone Retail Sales Plunge at Strongest Pace Since Late-2008; German Retail Sales Plunge Into Contraction; French Retail Sales Plunge at Record Pace; Record Job Losses, Record Retail Plunge in Italy Courtesy of Mish The word of the day is plunge. Retail sales fell like a rock in Germany and fell at a record pace in France. […]

Depression in Spain: Unemployment Rate Up .5 Percentage Points to 23.6%; Expect Much Higher Rates Later This Year; When is the Breaking Point?

Depression in Spain: Unemployment Rate Up .5 Percentage Points to 23.6%; Expect Much Higher Rates Later This Year; When is the Breaking Point? Courtesy of Mish Via email from Barclays Capital, Spain: Q1 unemployment rate rises; trend likely to continue into H1 2013.  This morning Spain released labour market statistics for Q1. Seasonally adjusted, the […]

Robert Wenzel's 'David' Speech Crushes Federal Reserve's 'Goliath' Dream

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. In perhaps the most courageous (and likely must-read for future economists) speech ever given inside the New York Fed's shallowed hallowed walls, Economic Policy Journal's Robert Wenzel delivered the truth, the whole truth, and nothing but the truth to the monetary priesthood. Gracious from […]

Mind Blowing Economic Charts – First Time Claims, The Stock Market, and The Fed

Courtesy of Lee Adler of the Wall Street Examiner Improvement in first time unemployment claims is slowing. Actual, not seasonally manipulated data, including an adjustment for the usual weekly upward revision, shows that the year to year rate of change is on the cusp of a possible upside breakout, which would be good news for stock […]