Archives for February 2013

Air Products: Deflated Enough

Air Products: Deflated Enough Courtesy of Paul Price of Market Shadows In the latest Best Game in Town, MarketShadows, March 10, 2013  Note: The Air Products Put has not been sold yet, the price of it did not hit our limit (3/4). Tough market days like Monday, when the DJIA dropped more than 216 points, provide […]

Market Comments: Lots of Words, Little Meaning

Market Comments: Lots of Words, Little Meaning  By Paul Price To fully appreciate just how useless technical jargon and charting can be, read the words line by line. Here’s an example: This was published early on Tuesday, February 26, 2013, following yesterday’s greater than 300-point intra-day negative reversal of the DJIA. 1)    The analysts and commentators […]

Jack Lew’s Grotesque Citi Employment Deal and the Institutionalization of Corruption

Jack Lew’s Grotesque Citi Employment Deal and the Institutionalization of Corruption Courtesy of Yves Smith of Naked Capitalism Corruption has now become so routine in Washington that improprieties far worse than Turbo Timmie’s implausible failure to pay taxes on income from his days working as a consultant to the World Bank barely evoke a yawn from […]

Youth Vote Propels Five Star Movement Into First Place as Largest Political Party in Italy

Courtesy of Mish. By a very slim margin Beppe Grillo’s Five Star Movement is the largest political party in Italy. Young voters and first-time voters are responsible for the surge (see comments from “AC” below). Here are the official election results. Chamber GIUSEPPE PIERO GRILLO – MOVIMENTO 5 STELLE – 8,689.168 – 25.55% PIER LUIGI […]

The Unsafe Foundation of Our Housing ‘Recovery’

Courtesy of Charles Hugh-Smith via Peak Prosperity What could go wrong with the housing 'recovery' in 2013? To answer this question, we need to understand that housing is the key component in household wealth. And, that Central Planning policies are aimed at creating a resurgent “wealth effect,” as follows: When people perceive their wealth as rising, […]

China Overheating? Biggest Weekly Cash Drain in History; Questions Surface Over Chinese Growth Numbers

Courtesy of Mish. In December I suggested the modest bounce in China PMI would not last. It didn’t. The allegedly sustainable recovery in China is already in question. The HSBC Flash China Manufacturing PMI™ shows manufacturing conditions barely above contraction. Key points Flash China Manufacturing PMI™ at 50.4 (52.3 in January). 4-month low. Flash China […]

Why We’re Ungovernable, Part 7: Italy Does Chaos With Style

Courtesy of John Rubino. As an Italian-American I’m allowed to say it: Italians are an amusing mess. They go on about “la dolce vita,” the sweet life of long lunches and short work days and pretty girls on little scooters – without acknowledging or apparently even realizing that the whole show is based on other […]

States That’ll Get Slammed By Sequestration

CHART OF THE DAY: Here Are The States That'll Get Slammed By Sequestration Courtesy of Sam Ro, Business Insider  Unless Washington can pull off a last minute deal, the sequestration budget cuts will begin on March 1. Sequestration is the series of $85 billion worth of spending cuts that'll ripple across the U.S. government. And across […]

Time To Stop Monsanto And The US Supreme Court

Courtesy of The Automatic Earth Artwork: Ilargi for the Automatic Earth The US Supreme Court heard a case on February 19 that is interesting perhaps not even so much because of the topic at hand but more because of the level of absurdity involved. It feels like we warpsped our way into a parallel universe […]

Richard Wolff on Fighting for Economic Justice and Fair Wages

Richard Wolff on Fighting for Economic Justice and Fair Wages By Bill Moyers Richard Wolff joins Bill to discuss the disaster left behind in capitalism’s wake, and the fight for economic justice, including a fair minimum wage.

SP 500 and NDX Futures Daily Charts – Risk Off, Bubble Down, Berlusconi-style

SP 500 and NDX Futures Daily Charts – Risk Off, Bubble Down, Berlusconi-style Courtesy of Jesse's Cafe Americain  This was the worst daily sell off in US equities since last November. The spokesmodels were blaming this on 'The Three B's: Berlusconi, Bernanke, and Boehner.' That is of course a thin film to cover what really happened today, […]

Pinocchio traders with fantastic returns are lying to themselves

Here's an excellent article by Barry Ritholtz discussing our tendency to lie to ourselves. Mark Twain: “Everybody lies — every day; every hour; awake; asleep; in his dreams; in his joy; in his mourning.”   Source: via Cathy on Pinterest Pinocchio traders with fantastic returns are lying to themselves  In my last column, we […]

Beppe Grillo’s Five Star Movement On Verge of Being Largest Political Party in Italy; Italy Stock Market Futures Plunge 3.5%

Courtesy of Mish. As the vote totals wind down, Beppe Grillo is the symbolic winner in the election. His MoVimento 5 Stelle (MS5 – Five Star Movement) is on the verge of becoming the largest party in Italy by popular vote. As of 4:00 PM… The center-left coalition of four political parties has 29.7% of […]

Quick Rise, Sharp Pullback- That’s LIFE

Quick Rise, Sharp Pullback- That’s LIFE See also:  MarketShadows February 24 2013 Newsletter: Not Done Rising, But Night Will Come  Courtesy of Paul Price  Global biotechnology supplier Life Technologies (LIFE, $58.19) was formed in November 2008 when Applied Biosystems and Invitrogen merged. The company has prospered since. LIFE was reportedly being courted for a buyout by publicly […]

Judge Sides With Einhorn and Halts an Apple Shareholder Vote

  Source: via Autumn on Pinterest Excerpt: Mr. Einhorn’s hedge fund firm, Greenlight Capital, has sued Apple in Federal District Court in Manhattan, arguing that the company improperly tied together several shareholder issues to be put for a vote into one proposal. Such bundling violated rules set by the Securities and Exchange Commission, lawyers for […]

The Extraordinary Science of Addictive Junk Food

  Source: via on Pinterest This looks interesting…. By MICHAEL MOSS, NY Times On the evening of April 8, 1999, a long line of Town Cars and taxis pulled up to the Minneapolis headquarters of Pillsbury and discharged 11 men who controlled America’s largest food companies. Nestlé was in attendance, as were Kraft […]

It’s Always The Best Time To Buy

Jim Quinn argues that the housing recovery is a Wall Street scam designed to bilk the American middle class of what remains of their net worth. Courtesy of Jim Quinn of The Burning Platform “The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.” – David Lereah, NAR […]

Italy Senate “Ungovernable”; No Coalition Possible

Courtesy of Mish. La Republica confirms what we long thought highly likely: The Italian Senate is Ungovernable. A Senate majority takes 158 seats and no party has more than 123 at the moment. The current results look like this: Senate Seat Projections Bersani 104 Berlusconi 123 Grillo 57 Monti 17 There are 315 total seats […]

Lies, Damned Lies, And Banks: Deutsche Bank Caught Again

Courtesy of Wolf Richter Deutsche Bank, long coddled by the German government, is mired in a swamp of costly “matters,” such as the Libor rate-rigging scandal or the carbon-trading tax-fraud scandal that broke with a televised raid by 500 police officers on its headquarters. It’s writing down assets and setting up reserves to […]

Real Time Italian Election Data and Projections; TV Projections Show Berlusconi Coalition Leading in Italy Senate

Courtesy of Mish. Reader Lorenzo sent a link where one can watch Italian Election Results (actual vote totals, not exit poll predictions). Click on “Camera” to see Chamber results (lower house of parliament). Click on “Senato” to see Senate results (upper house of parliament). As of this time, Results look like this Chamber Bersani 34% […]

UBS, FINRA, and Naked Short Selling: “Duration, Scope and Volume of The Trading Created a Potential for Harm to The Integrity of The Market.”

Courtesy of Larry Doyle. Last summer I tagged Wall Street’s industry funded police at FINRA as being little more than meter maids. With a recent review of FINRA’s largest fine imposed in its history, I now realize that I have actually done a serious disservice to those diligent and hard working meter maids patrolling our […]

Who’s Behind the Curtain of Treasury Nominee Jack Lew’s Funny Money

Courtesy of Pam Martens. Have you ever landed a new job with a private employer who bought you a $1.3 million house and paid you a bigger salary than your boss. Did you ever have an employment contract that called for awarding you a bonus of $940,000 if you could somehow advance yourself from shepherding […]

“Great Rebalancing” Book Review: Two Thumbs Up; Investment Ideas for Unconventional Times

Courtesy of Mish. With much pleasure, I highly recommend Michael Pettis’ newest book “The Great Rebalancing“. Pettis’ book covers global trade issues with a focus on current events in Asia, Europe, the United States, and the commodity producing nations. Read the book and you will see that much of the “common wisdom” espoused by others […]

Two Cows: The Infographic

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. There are many complexities in the socio-economic structures that the nations (and corporations) of the world have used (and abused) over the years. Volumes have been written to explain the intricacies of Capitalism, Fascism, Communism, and Socialism; and how these impact various corporations from […]