Archives for June 2012

US Supreme Court Upholds Affordable Healthcare Act

US Supreme Court Upholds Affordable Healthcare Act Courtesy of Jesse's Cafe Americain The vote is out and it is 5-4 in favor of the constitutionality of the US Healthcare Reform Act. Chief Justice Roberts provided the 'swing vote' in viewing the individual mandate as a 'tax' rather than accepting the Commerce Clause justification which Reich had […]

Liebor – No, It Was NOT Just Barclays

Liebor – No, It Was NOT Just Barclays Courtesy of Karl Denninger, The Market Ticker No folks, it's not just one bank. It appears it was basically all of them. If you transacted in any loan that was tied to this rate at any time in the last several years, you probably got rooked, whether […]

Breaking News… European Leaders Agree to $120 Billion Pact To Promote Growth….

Courtesy of Jesse's Cafe Americain Breaking News… European Leaders Agree to $120 Billion Pact To Promote Growth…. Do you think some word of this leaked out to the markets? Aren't some of those fellows Goldman alums? lol The financiers and politicians do like to make a 'splash' especially when they have nothing real to say. And […]

Congress Finds AG Holder in Contempt

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. In a day full of political news, here is the latest fixture to the soap opera to keep the electorate happy with water cooler talk. HOUSE HAS ENOUGH VOTES FOR HOLDER CITATION; VOTE CONTINUES House votes 255-67 to hold AG Eric Holder in criminal […]

Doug Casey: A Eurocrash Is Baked in the Cake

Doug Casey: A Eurocrash Is Baked in the Cake In an interview with Louis James, world traveler and legendary speculator Doug Casey makes a compelling case for becoming a "permanent tourist" to be best able to survive the coming economic crash. Louis James: So Doug, you're off to FreedomFest 2012 shortly, where people will be […]

The Research in Downward Stock Motion Continues as RIMM Misses Everything

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. For any RIMM shareholders expecting a miraculous deus ex, somewhat like Europe's broker beggars who still are choosers, to come out of left field in today's earnings reports, there was nothing but epic disappointment. Revenues came in at $2.81 billion on expectations of $3.1 […]

Eurozone Retail Sales Drop 8th Month; Italy, France are Down; Germany Retail Sales Up, Outlook Down

Courtesy of Mish. German retail sales bounced back for the second month, but not enough to prevent the aggregate eurozone sales from falling for the eighth consecutive month. Summary of June findings: The Eurozone retail sector remained in contraction mid-way through 2012, according to PMI® data from Markit. Sales fell on a month-on-month basis for […]

SCOTUS Tortures Constitution: PPACA

SCOTUS Tortures Constitution: PPACA Courtesy of Karl Denninger, The Market Ticker  Now I've seen it all. The USSC upheld Obamacare by, basically, twisting the Constitution into a pretzel, crapping on it, whizzing on that and then eating it. Finding first that the Commerce Clause bars the government from compelling one to enter into commerce, the analysis then turned to whether […]

Obamacare Upheld; What Should Romney, Republicans Do?

Courtesy of Mish. Today the Supreme Court ruled in favor of Obamacare by a 5-4 margin. Here is the Full Text of the Supreme Court Ruling. Romney has promised to overturn the ruling, saying “ObamaCare was bad policy yesterday, it’s bad policy today.” That statement makes Romney a hypocrite as the Financial Times notes. “Obamacare […]

Fans cheer, critics jeer Supreme Court on health care

Fans cheer, critics jeer Supreme Court on health care (via AFP) Supporters of President Barack Obama's health care reforms cheered Thursday on the steps the Supreme Court after its justices upheld the hotly contested law, as opponents vowed to fight on. More than 1,000 protesters — many fiercely in favor of Obama's signature reforms, others […]

Health-care law: How Supreme Court ruling could affect US budget

Health-care law: How Supreme Court ruling could affect US budget (via The Christian Science Monitor) When the US Supreme Court hands down its ruling on the health-care reform law Thursday, the action will carry some big-money import for the federal budget. A decision that strikes down President Obama's 2010 reforms in their entirety would increase […]

Forget QE3, America Needs a Real Road and Job Stimulus

Courtesy of www.econmatters.com. By EconMatters How is the condition of roads that you drive On? Well, the roads that I drive on are so bad that they require a large truck or SUV to navigate at anything close to normal speeds. The potholes are alignment killers, and the horrible patches were slapped on so poorly […]

Using Standard Deviation & Probability to Trade Options

Using Standard Deviation & Probability to Trade Options Courtesy of J.W. JONES I recently discussed the ability to use implied volatility to calculate the probability of a successful outcome for any given option trade. To review briefly, the essential concepts a trader must understand in order to make use of this helpful metric include: The prices […]

JP Morgan Trading Loss Balloons to $9 Billion

Courtesy of Benzinga JP Morgan Chase’s (NYSE: JPM) trading loss on credit derivatives may have swelled to $9 billion, according to reports by the New York Times. CEO Jamie Dimon said that the company would update investors in its second-quarter earnings release on July 13 with specifics on the size of the loss and the extent to […]

Americans Are Being Prepared For Full Spectrum Tyranny

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Submitted by Brandon Smith from Alt-Market Americans Are Being Prepared For Full Spectrum Tyranny Totalitarian governments, like persistent forms of cancer, have latched onto the long history of man, falling and then reemerging from the deep recesses of our cultural biology to wreak havoc […]

Bankia Valued at EUR -13.635 Billion; Spain Becomes Sole Owner, Shareholders Totally Wiped Out; Entire Bankia Board Resigns

Courtesy of Mish. Five days ago we heard from the Bank of Spain that Spanish banks only need between €16bn and €62bn in new capital. For details, see Laugh of the Day: Stress Tests Show Spanish Banks Only Need Between €16bn and €62bn in New Capital; ECB to Accept BBB- Rated Debt (One Step Above […]

Merle Hazard Song – US Racing Towards Fiscal Cliff; Submit Lyrics For Merle's Next Song For Fame (Certainly Not Fortune)

Courtesy of Mish. I received an email this morning from “Merle Hazard” about his latest song. It’s one of his best. US Racing Towards Fiscal Cliff If the video does not play, or if you wish to submit lyrics or ideas for his next song, please click on A Q-and-A, Plus a Ditty and Contest […]

Merle Hazard Song – US Racing Towards Fiscal Cliff; Submit Lyrics For Merle’s Next Song For Fame (Certainly Not Fortune)

Courtesy of Mish. I received an email this morning from “Merle Hazard” about his latest song. It’s one of his best. US Racing Towards Fiscal Cliff If the video does not play, or if you wish to submit lyrics or ideas for his next song, please click on A Q-and-A, Plus a Ditty and Contest […]

How to Build Consistent Trading Success

How to Build Consistent Trading Success  EWI's senior analyst Jeffrey Kennedy shares with you practical advice on what it takes to improve the quality of your trades.  By Elliott Wave International You've heard it all before: If you want to trade using Elliott wave analysis, to succeed you first need to understand its rules and […]

Labour group criticises Apple on China suppliers

Labour group criticises Apple on China suppliers (via AFP) A labour rights group said Thursday it had found "deplorable" conditions at Apple suppliers in China, following a probe of several firms that supply the US technology giant. New York-based China Labor Watch said a four-month investigation of suppliers to Apple in southern and eastern China […]

Why Are We Certain that Gold Producers Will Soar?

Why Are We Certain that Gold Producers Will Soar? By Jeff Clark, Casey Research For the past eighteen months, gold stocks have been pummeled. They showed some life from mid-May to mid-June – GDX, the gold miner's index, was up 21%, while gold rose 5.5%. That bounce was exciting, but they've still got a lot […]

Spain recession deepens in Q2, says Bank

Spain recession deepens in Q2, says Bank (via AFP) Spain's recession is deepening in the second quarter as the economy takes a battering from the financial markets, the nation's central bank said Wednesday. Economic output was shrinking at a faster pace, after contracting by 0.3 percent in the first three months of the year, the […]

Passing The Trash – Again

Passing The Trash – Again Courtesy of Bruce Krasting I participated in a slow motion disaster back in the early 80’s. I was working for the global powerhouse, Citibank. Walter Wriston was running the show at the time. He “famously” said “Countries don’t go bankrupt.” His thinking resulted in an enormous increase in the bank’s […]

A Little Bedtime Reading

A Little Bedtime Reading Courtesy of Michael Panzner, Financial Armageddon …for those who like nightmares: "America Is No Longer a Land of Opportunity" (Joseph Stiglitz, Financial Times op-ed) US inequality is at its highest point for nearly a century. Those at the top – no matter how you slice it – are enjoying a larger share of the national […]