Archives for August 2012

Neocons carry Bush’s banner

TAMPA — George W. Bush may be completely absent at the Republican National Convention, but at a theater just beyond the security perimeter, it was as if he was still in office today as Condoleezza Rice and former Bush chief of staff Joshua Bolten praised his legacy. The lineup of the forum, meant to “give […]

Taibbi: The True Story of Mitt Romney and Bain Capital

Taibbi: The True Story of Mitt Romney and Bain Capital Courtesy of Jesse's Cafe Americain For a related story read The Federal Bailout That Saved Mitt Romney also from Rolling Stone. Greed and Debt: The True Story of Mitt Romney and Bain Capital By Matt Taibbi August 29, 2012  The great criticism of Mitt Romney, from both […]

The Tinder of Revolutionary Movements

Chris Hedges: The Tinder of Revolutionary Movements Courtesy of Jesse's Cafe Americain  "I have three precious things, which I hold fast and prize.  The first is gentleness; the second is frugality; the third is humility, which keeps me from putting myself before others. Be gentle, and you can be bold; be frugal, and you can be […]

Dis and Dat

Courtesy of Bruce Krasting Convenient timing for this announcement. Sixty days before the big election the Administration is dishing out favors to big hedge fund contributors. I wonder how much they took in to make this deal. I .   . .   II . It always surprises me how quickly sentiment changes. A month […]

Eurozone Retail Sales Decline 15th Month, Plunge Led by Italy, France; German Sales Contract Slightly

Courtesy of Mish. Once again there is grim data from Europe. The safe thing to do is expect grim data every time European data is reported. Except for an occasional outlier, you will not be too far off. Eurozone Retail Sales Decline 15th Month Markit Reports Eurozone retail downturn deepens in August Key points: Revenue […]

The U.S. Drought Is Hitting Harder Than Most Realize

Courtesy of Chris Martenson of Peak Prosperity This is an important update on the U.S. drought of 2012, the combined record-setting July land temperatures, and their impact on food prices, water availability, energy, and even U.S. GDP.  Even though the mainstream media seems to have lost some interest in the drought, we should keep it front […]

France to Hire 150,000 Subsidized Workers With Zero Qualifications; Why Stop There?

Courtesy of Mish. Looking for a loony idea to address unemployment in France? Look no further because I have a doozie. Via Google Translate from El Economista, France will create 150,000 jobs for young people without qualifications The French Government has today adopted a draft law providing for the creation of 150,000 subsidized jobs for […]

More Bad News Imminent: August US Auto Production Set to Plunge by Most in 16 Months

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Over the past several months, many pundits were scratching their heads at the peculiar patterns in summer hiring and layoff trends, which threw all NFP, claims, and JOLTs forecasts in a loop making a mockery of even the best forecasters. The reality is that […]

Was Initial Claims “Miss” Really a Miss?

Courtesy of Lee Adler of the Wall Street Examiner This report is an excerpt from the permanent employment charts page, which is updated whenever new data becomes available.  The Labor Department reported Thursday that seasonally adjusted (SA) first time claims for unemployment were unchanged at 374,000  in the advance report for the week ended August […]

Even 'The Rich' Aren't Buying This Rally

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Despite the near multi-year record highs in stock indices, which have typically correlated tick-for-tick with the-wealthy-people's view of the world, today's Bloomberg Consumer Comfort index sub-data has a rather nasty surprise in its tail. Those earning over $100k, the highest bracket interviewed in their […]

Even ‘The Rich’ Aren’t Buying This Rally

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Despite the near multi-year record highs in stock indices, which have typically correlated tick-for-tick with the-wealthy-people's view of the world, today's Bloomberg Consumer Comfort index sub-data has a rather nasty surprise in its tail. Those earning over $100k, the highest bracket interviewed in their […]

Occupy Wall Street to Protest September 17: Why It’s Still the Most Important Thing In the World

Courtesy of Pam Martens. Shortly after the Occupy Wall Street protests began in lower Manhattan in the Fall of 2011, Naomi Klein published a piece at The Nation, heralding the movement as “the most important thing in the world now.” To the chagrin of Wall Street, Klein succinctly explained to the populace what was coming […]

Podcast: China Inflation

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner Two minute podcast on Chinese inflation, and their trapped monetary regime. Charts used:     For additional analysis on this topic and related trades subscribe to Russ Winter's Actionable – risk free for 30 days.The subscription fee is $69 per quarter and helps support […]

Governor Brown Admits the Obvious “We Have Lived Beyond Our Means”; Brown Agrees to Vast Overhaul of the California’s Pension System; Unions Howl Over Obvious Truth

Courtesy of Mish. In a long-overdue moment, governor Jerry Brown has finally admitted the obvious, the state's pension system is broke and California Has "Lived Beyond Our Means". Unions of course are howling at that obvious admission. Please consider California leaders strike public pension reform deal California Governor Jerry Brown and lawmakers have reached a […]

The Left Right Paradigm is Over: Its You vs. Corporations

By Barry Ritholtz, The Big Picture For a long time, American politics has been defined by a Left/Right dynamic. It was Liberals versus Conservatives on a variety of issues. Pro-Life versus Pro-Choice, Tax Cuts vs. More Spending, Pro-War vs Peaceniks, Environmental Protections vs. Economic Growth, Pro-Union vs. Union-Free, Gay Marriage vs. Family Values, School Choice […]

Economist Fired for Expressing Opinions on Max Keiser Show; Errors in Observation

Courtesy of Mish. According to Forbes, economist Sandeep Jaitly was forced to resign from his position at the Gold Standard Institute after expressing his views with Max Keiser. Said Phillip Barton, president of GSI “Lest there be any misunderstanding, the views expressed by Sandeep Jaitly in his interview with Max Keiser are not the views […]

GDP Second Estimate 2Q: Meh

GDP Second Estimate 2Q: Meh Courtesy of Karl Denninger, The Market Ticker Nothing of real interest here… Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.7 percent in the second quarter of 2012 (that is, from […]

Jim Grant Refuses To Get Lost In A "Hall-Of-Mirrors" Market

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The bow-tied-and-bespectacled bringer-of-truth was on Bloomberg TV this morning providing his own clarifying perspective on what we should hope for (and what we should not) from J-Hole this weekend. Jim Grant's acerbic comments on Krugman's view of the world, on the gold standard as […]

Jim Grant Refuses To Get Lost In A “Hall-Of-Mirrors” Market

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The bow-tied-and-bespectacled bringer-of-truth was on Bloomberg TV this morning providing his own clarifying perspective on what we should hope for (and what we should not) from J-Hole this weekend. Jim Grant's acerbic comments on Krugman's view of the world, on the gold standard as […]

Janet T Comments On Prince Harry

Janet T Comments On Prince Harry Courtesy of Karl Denninger, The Market Ticker Now this is a good one… Dear Sir, It has come to our attention that you have been offered a role in a porn film for $10 million.  We urge you to reject it.  Princely Pay and Elite Status Goldman Sachs is prepared to […]

The Rot Runs Deep 3: The Capture of the Professional Class

Courtesy of Charles Hugh Smith from Of Two Minds The Rot Runs Deep 3: The Capture of the Professional Class A rotten-to-the-core system continues grinding on because it has effectively co-opted (captured) the professional/managerial class with promises of phantom wealth and security. The Status Quo depends on the professional/managerial class to maintain order and keep the […]

A History of US Defense Spending Since FDR; And Where Obama and Romney Differ

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Presented with little comment, via Bloomberg Insider's Convention 2012 Issue; the history of military spending (which we discussed recently) and the $400bn divide between Obama and Romney's agenda.   Source: Bloomberg

350 Million Indian Families Starve As Politicians Loot $14.5 BIllion In Food

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While The Brits are about to tax their Super-Rich, it appears one of the old colonies remains in full anti-Robin-Hood mode. Nothing surprises us much anymore but this note from Bloomberg too the proverbial biscuit. In the "most mean-spirited, ruthlessly executed corruption," India's politicians […]

How Treasury Secretary Geithner Foamed the Runways With Children’s Shattered Lives

Courtesy of Pam Martens. U.S. Treasury Secretary, Timothy Geithner There really are two kinds of Americans.  One type is of the Ayn Randian persuasion, believing that rapacious capitalism without safety nets is an ideal model for our country.  The other kind believes that our Nation’s children represent the future and each and every one of them […]