Archives for October 2012

Flawed Poll Models Underestimating Romney’s Lead

This is an interesting review of election surveys by Russ Winter. In my (limited) sphere, hardly anyone is happy about either candidate. Bigger questions seem to be: Should I bother voting against the one I dislike most? Which one is that? ~ Ilene  Flawed Poll Models Underestimating Romney’s Lead Courtesy of Russ Winter of Winter Watch at […]

Back to Work Wednesday

Back to Work Wednesday (Picture from Gov. Christie’s Sandy page at Facebook) Courtesy of Phil’s Stock World  Forget the insurance companies. Yesterday they were saying $20Bn in damages but the NYC subway system alone may have more than $20Bn in damage. Who’s insuring it? I have no idea. But things like that and the devastation along […]

Real Economy Still Sliding As ‘Eating Out’ Continues to Go Down

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While real consumer spending growth remains perilously close to recessionary levels for another year, one of our favorite indicators of real consumer sentiment (as opposed to the anchoring bias-driven surveys we are force-fed a few times per month) is the growth in spending on […]

Asia drug boom fuels surge in opium cultivation: UN

Asia drug boom fuels surge in opium cultivation: UN (via AFP) Opium cultivation in Southeast Asia has doubled over the last six years as growing demand for heroin in China and the rest of Asia lures more farmers to grow poppies, the UN said Wednesday. Opiate users in East Asia and the Pacific now account […]

ADP Grossly Overstates Job Growth for Last 12 Months by 419,000 Jobs

Courtesy of Mish. ADP has announced revised methodology to “enhance” its monthly job reports, no doubt because its prior numbers simply were grossly inaccurate. Indeed, I stopped commenting on ADP numbers because I thought they were absurd. Let’s take a look at their revised methodology. Here is the ADP Jobs Report for September using the […]

7 Things I Learned from Hurricane Sandy

By James Altucher Let’s clean up some myths first: Hurricane Sandy is not good for the economy. People in the media always claim hurricanes are good because of the rebuilding. This is bullshit.  Yes, people will be buying new furniture, etc. But if it were good for the economy I’d come and smash your house […]

FacePalm: Short To Zero

FacePalm: Short To Zero Courtesy of Karl Denninger, The Market Ticker From Janet T: When insiders sell stock, that's usually a strong sell signal for everyone else.  As I mentioned in a previous post, many of Facebook's early investors cashed out rather than hang onto their shares, and the stock price plummeted from the IPO price of […]

Oh Look, A crApple In The Storm

Oh Look, A crApple In The Storm Courtesy of Karl Denninger, The Market Ticker Well now isn't this amusing? Apple Inc. (AAPL) said mobile software head Scott Forstall and retail chief John Browett are departing as Chief Executive Officer Tim Cook embarks on a sweeping management overhaul at the world’s most valuable company. Not for long. Forstall will leave next year and serve […]

Greece warns on grim economic outlook as EU says no debt deal yet

Greece warns on grim economic outlook as EU says no debt deal yet (via AFP) Greece unveiled a tough new austerity budget on Wednesday, sparking a call for a 48-hour general strike, as the EU said there was still work to be done before the recession-hit country can access loan funds needed to stave off […]

HFT Caught-Red Handed In FX Trading

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. After decimating equity and commodity markets, the HiFreqs have boldly gone and broken another market – FX. But that is not news: we reported over two years ago, that while HFT accounting for all of the churn – not liquidity – in stocks, bonds, and […]

Canada GDP “Unexpectedly” Shrinks; Pollyannas Come Out Of Woodwork

Courtesy of Mish. Economists who cannot see anything but the rear view mirror were surprised to learn Canadian Economy Shrinks as Oil, Mining Slump. The Canadian economy shrank unexpectedly in August, pointing to a sharp third-quarter slowdown in growth from the first half and reinforcing the Bank of Canada’s message that interest rate hikes are […]

The Financial Super-Storm of 2013

Courtesy of Charles Hugh-Smith of OfTwoMinds blog The next "Frankenstorm" to hit New York will be financial. The destructive whirlwind that hits New York in 2013 will be a financial Frankenstorm. Four years of glorious central-planning "extend and pretend" have enriched the political and financial Aristocracies, and imbued them with a bubble-era hubris that they have […]

“Google Law” Yet Another Warped Policy by Hollande; Government Motors French Style

Courtesy of Mish. French president François Hollande took two more swan dives into the pool of ludicrous actions in the past few days, first with car-maker Peugeot, quickly followed up with a guaranteed-to-fail proposal regarding search engine giant Google. Government Motors French Style Bloomberg reports France Guarantees Peugeot Debt in Exchange for Influence The French […]

How to Eliminate $4.5 Trillion of Debt

Courtesy of Bruce Krasting Note: It’s dark north of NYC. Only those with generators have lights, heat and the ability to communicate.  I counted 27 trees down on my property; the costs to make the damage right will be about $10k. Insurance will not pay a dime. I got off easy. You’ve seen the pictures by […]

The Number One Cause of Death from Sandy in New York City Was Drowning or Storm Surge Related, Despite Misleading Reports

Courtesy of Pam Martens. Lydia Callis, Sign Language Interpreter and Mayor Michael Bloomberg of New York City, at 11 a.m. Press Conference on Hurricane Sandy, Tuesday, October 30, 2012 By Pam Martens: October 31, 2012  Yesterday, New York City Mayor Michael Bloomberg held two press conferences to provide updates on the aftermath of Hurricane Sandy.  […]

Asia battles drug-resistant malaria

Asia battles drug-resistant malaria (via AFP) Drug-resistant malaria is spreading in Asia, experts warned as a high-level conference opened Wednesday with the aim of hammering out an action plan to strengthen the region's response. Resistance to the drug used everywhere to cure the life-threatening disease has emerged in Cambodia, Thailand and…

New York in shock over storm horror

New York in shock over storm horror (via AFP) New York confronted the devastation of superstorm Sandy, which left at least 18 people dead in the city and threatened to bring prolonged chaos and misery. Firefighters battled blazes and carried out rescues in flooded houses a day after the storm set off an explosion at […]

Value in the eye of the storm

Value in the eye of the storm Here’s this week’s newsletter: Value in the eye of the storm One of the best. Please give us your feedback in comments below. Random Excerpts: Third quarter Gross Domestic Product (GDP) showed that the US economy expanded more than forecast (2% vs. 1.8%). The increase was due to […]

Governor Chris Christie Strongly Praises Obama’s Response to Sandy; Could Christie’s Comments Tip the Election?

Courtesy of Mish. Here’s a headline story including an interview on Fox news that caught me by surprise: New Jersey Chris Christie Praises Obama, Doesn’t ‘Give a Damn’ about Election Day The presidential candidates have canceled all campaign events on Tuesday, but Republican New Jersey Chris Christie seemed to be stumping for President Barack Obama […]

Thoughts on Gold

Courtesy of Russ Winter of Winter Watch at Wall Street Examiner Grant Williams put out a very good presentation on the bond bubble/mania and a prospective gold bubble.  Of course I most certainly agree about the bond bubble, but Williams also offers up the plausible theory that once the bond bubble bursts it would also set […]

Japan Manufacturing PMI Falls to 18-Month Low

Courtesy of Mish. The Japanese economy continues to skid as evidenced by the October Japan Manufacturing PMI™ Key points Output and new orders both down at sharper rates Employment falls at fastest pace since July 2009 Average output charges pared to steepest degree since December 2009 Summary October’s PMI data indicated a further deterioration in […]

Is Santa Coming Early for Gold & Gold Mining Stocks?

Is Santa Coming Early for Gold & Gold Mining Stocks? Courtesy of Chris Vermeulen – If you own physical gold, gold mining stocks or plan on buying anything related to precious metals before year end, you are likely going to get excited because of what my analysis and outlook shows. Since gold topped abruptly a […]

WTI Crude Oil & Oil Stocks Seasonality & Year-End Outlook

WTI Crude Oil & Oil Stocks Seasonality & Year-End Outlook By Chris Vermeulen – Crude oil has had some large price swings this year and another one may be on its way. This report shows the seasonality of crude oil along with where oil is trading and what the oil service stocks are telling us […]

Debt And Deficits – Killing Economic Prosperity

Courtesy of ZeroHedge. View original post here. Submitted by Lance Roberts of Street Talk Live, What is really causing the economic malaise that the U.S. faces today? Most economists believe that it is the lack of aggregate demand that is causing the problem which can be rectified by continued deficit spending. The current Administration believes […]