Archives for July 2012

Within Our Mandate (7/29)

Excerpts from the latest MarketShadows Newsletter, July 29 2012 Event Horizons The S&P 500 rose 3.6 percent on Thursday and Friday alone. The rally was triggered when European Central Bank (ECB) president Mario Draghi said, “Within our mandate, the European Central Bank is ready to do whatever it takes to preserve the euro, and believe me, it […]

Big Banks Continue To Game the System With Public Money, Aided By the Fed

Big Banks Continue To Game the System With Public Money, Aided By the Fed Courtesy of Jesse's Cafe Americain "The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true.  […]

Taibbi and Spitzer on Sandy Weill, Romney, LIBOR and Geithner

The choice of Tim Geithner will go down as one of Obama's biggest mistakes – Matt Taibbi  Taibbi and Spitzer on Sandy Weill, Romney, LIBOR and Geithner Courtesy of Jesse's Cafe Americain “The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least to neglect, persons of […]

The Main Driver of GDP Growth: Strong Rule of Law

Courtesy of ZeroHedge. View original post here. Submitted by George Washington. Economist Woody Brock says that a nation's GDP growth is based mainly on whether or not it follows the rule of law.  Economist and investment adviser John Mauldin notes: I had dinner with Dr. Woody Brock this evening in Rockport. We were discussing this […]

Eurozone Retail Sales Sink 9th Month; 17th Month of Contraction in Italy; Margins Collapse in France; Germany Barely Above Contraction

Courtesy of Mish. Eurozone retail sales continue to dive and not even Germany is immune. German manufacturing has been in contraction off-and-on, and retail sales are once again on the verge contraction as well. Let’s take a look at some reports. Italy Retail Sales Slump Extends to 17th Month Markit reports Downturn in retail sales […]

Beer, A Reflection of the World Economy?

Courtesy of ZeroHedge. View original post here. Submitted by testosteronepit. Wolf Richter   www.testosteronepit.com Good news first. Despite the financial crisis, the Eurozone debt crisis, the housing collapse, the endless series of taxpayer-funded or central-bank-engineered bailouts, and despite various bubbles inflating or blowing up, worldwide beer production has increased year after year. In 2011, it rose […]

Goldman Sachs’ Paywall to Your Democracy

Courtesy of Pam Martens. The word paywall is typically used to describe web sites which make you pay to gain access.  But viewed with the added perspective of the image below, that’s what representative government in the U.S. has become – a paywall to access.  The following chart is provided through the courtesy of the […]

Geithner And Schauble Release Joint Non-Statement

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The U.S. Department of the Treasury, in conjunction with the German Finance Ministry, today released the following joint statement at the conclusion of Secretary Timothy Geithner’s meeting with German Finance Minister Wolfgang Schäuble: “Timothy Geithner and Wolfgang Schäuble today met on the island of […]

Dallas Fed Plunges Most in Over 7 Years to 10 Month Low; Biggest Miss in 14 Months

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. With expectations for a muddle-through slight positive print, the headline Dallas Fed index just printed at -13.2 (exp. 1.9). This is its lowest level since September of last year and the biggest miss of expectations since May of last year. The headline index is […]

51% of Germans Believe Germany Better Off Outside Eurozone, 71% Favor Greece Leaving; Implications on Constitutional Court Ruling

Courtesy of Mish. A recent poll says 51 percent of Germans now believe Germany would be better off without the euro. The Emnid poll for the Bild am Sonntag mass circulation weekly showed 51pc of Germans believed Europe’s top economy would be better outside the 17-country eurozone. Twenty-nine percent said it would be worse off, […]

Big Part of US Rental Housing Market: Poor People

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner THE US RENTAL MARKET: Poor people 446.5 million Americans live off food stamps, a 222,157 increase in the last month.  Americans on Social Security disbility: 8,753,935. 42% of the population doesn’t work.         For additional analysis on this topic and related trades […]

JCPenney to Eliminate All Checkout Clerks, Instead Using RFID Chips and Self-Checkout; End of JCPenny? How Many Jobs At Risk?

Courtesy of Mish. By 2014 JCPenney PLans to Eliminate All Check-Out Clerks, and instead use self-checkout machines and RFID chips. Struggling retailer JCPenney is making some big changes that will affect customers and its clerks. The store is getting rid of its check-out counters. CEO Ron Johnson said it will remove check-out counters in stores […]

Monopoly Money

Monopoly Money Courtesy of Springheel Jack In the game Monopoly, when you’re sent to jail, you can leave for free with a ‘Get Out Of Jail Free’ card. In a sense the ECB can do the same to escape its sovereign debt problems. All it has to do is “print” money, and the problems go away; […]

Secret Summits & Nobody Said It Was Easy

Nobody Said It Was Easy (8/5) Courtesy of Allan Harris of AllanTrends New Signals SPX Hourly Trend Model————> LONG NASDAQ Hourly Trend Model——> LONG TLT Daily Trend Model————-> SHORT AAPL Daily Trend Model———-> LONG Weekend Market Comments Stock Indexes I really was hoping for, “The Perfect Set-Up” described last weekend: A higher high for the week […]

A Completely Screwed Up System

Courtesy of Bruce Krasting The following chart from the Congressional Budget Office shows who pays federal income taxes in America.   It should come as no surprise that individuals in the highest income brackets pay the most in taxes (The top 20% pay 94% of all income taxes according to the CBO). It should also be […]

Foreigners Dump Nearly €80 Billion in Spanish Debt; Haircuts Come After More Dumping

Courtesy of Mish. Through the first half of the year, foreigners reduced Spanish debt by Nearly €80 Billion as banks in Spain gobbled up more of the toxic garbage. Foreign investment in Spanish public debt has decreased by 7 €78.168 billion in the first six months of the year, standing at  €203.271 billion euros, compared […]

War Of The Central Banks?

Courtesy of ZeroHedge. View original post here. Submitted by testosteronepit. Wolf Richter   www.testosteronepit.com The coordinated confidence-inspiring words from the Eurozone’s fearless leaders yesterday and today about doing whatever it would take to save the euro wasn’t about Greece anymore. Its life support may get unplugged in September. Politicians have apparently given up. The tab isn’t […]

$10 Trillion M2 is Now in the Rearview Mirror

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Two weeks ago we observed that the broadest money aggregate tracked by the Fed, M2, was less than $10 billion away from crossing the historic $10 trillion mark. As of this week, this number now officially has 14 digits for the first time ever, […]

Mainstream Farming and Rural Communities Continue Rout and It is Global

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner The Rural Mainstreet Index decreased to 47.9 from 56.7 in July to its lowest level since September of 2010.  The farm equipment sales index decreased significantly to 46.1 from June’s 54.7, its lowest level since 2009. The drought has now spread like cancer into […]

Was That The Treasury Bubble Death Star?

Courtesy of Lee Adler of the Wall Street Examiner This report covers Treasury auctions, federal revenues, and the outlook for Treasury supply, Treasury yields, and the dollar. Here is a sampling of the 11 key bullet points in this report. Net new Treasury supply for the July 31 settlement will be the heaviest it has […]

Gambling in the House?

Gambling in the House? Courtesy of John Mauldin Rick: How can you close me up? On what grounds?  Captain Renault: I'm shocked, shocked to find that gambling is going on in here!  – From the classic scene in Casablanca, made in 1942 The latest scandal du jour seems to be about what is now called LIBORgate. […]

The State As A Fantasy

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Submitted by James E. Miller of the Ludwig von Mises Institute of Canada The State As A Fantasy If there were a prize for the best “do as I say, not as I do” politician, the latest winner would be California Senator Dianne Feinstein.  […]

Draghi – We Will Continue to Fight Until Everyone is Dead

Draghi – We Will Continue to Fight Until Everyone is Dead Courtesy of Bruce Krasting A week ago I cut a EURUSD short position that was well into the money. (Link)I was concerned that “something” might happen that could make a mess. I listed a number of concerns that might have caused a flip-flop, but Mario […]

Schäuble Rejects ECB Help for Spain; Full Bailout Still Coming

Courtesy of Mish. As any clear-thinking person should have expected, Schäuble rejects ECB help for Spain Berlin – For days, it is speculated that the European Central Bank (ECB) is planning, together with the bailout fund EFSF Spanish government bond buy – so come back to Spain to cheaper capital. The “Sueddeutsche Zeitung” According to […]