Archives for July 2013

To Save Spain’s Housing Market, It Must First Be Destroyed

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. About a decade ago, Spain set off to "grow" its economy by launching an unprecedented homebuilding campaign. Several years later the campaign backfired, when the global housing bubble popped, and hundreds of thousands of houses ended up underwater, vacant or simply incomplete while millions […]

Why QE Can Never End

Courtesy of John Rubino. The Fed just made an announcement that the markets liked: Fed stays on track with bond buying, for now WASHINGTON (Reuters) – The Federal Reserve said on Wednesday the economy continues to recover but is still in need of support, offering no indication that it is planning to reduce its bond-buying […]

About that “Beat the Street” GDP Number

Courtesy of Mish. GDP beat second quarter estimates of 1 percent easily. However, the BEA revised first quarter growth down from 1.7% to 1.1%. Is this a good thing, a bad thing, or nonsense? The correct answer is “nonsense”. One look at BEA GDP Release is all it takes to determine the answer. The price […]

Economic Recovery in Spain? Tax Collections, Retail Sales Prove Otherwise

Courtesy of Mish. In an attempt to distract voters from all the political scandals in his administration, Prime Minister Mariano Rajoy is talking about the pending economic recovery in Spain. Don’t believe it. Huky Guru at Guru’s Blog in Spain takes a good look at numbers that prove Rajoy is disingenuous. Via Mish-modified Google translation, […]

Did Larry Summers Just Tap Someone On The Shoulder?

This post may not be reposted without permission and a prominent link to Zero Hedge. Links may not be removed.  Courtesy of ZeroHedge, www.zerohedge.com. View original post here. Submitted by Tyler Durden. It seems 'someone' doesn't want the world knowing just how much of a 'long shot' Larry Summers is for the great-and-powerful-Oz position of Chairman […]

TROUGH FEEDERS ARE MAXING OUT

This post may not be reposted without explicit permission from Phil's Stock World (http://www.philstockworld.com) and Russ Winter at Winteractionables (http://winteractionables.com). Links may not be removed.  TROUGH FEEDERS ARE MAXING OUT Courtesy of Russ Winter Originally posted here: http://winteractionables.com/?p=4984 Every day our country moves closer to the brink of collapse because of systemic corruption. We have become […]

Sense on Cents Quiz: Average GDP from ’02-’12 Is . . ?

Courtesy of Larry Doyle. The Bureau of Economic Analysis this morning released the 2nd quarter GDP report and it registered a surprisingly robust reading of 1.7%. Not that a growth rate of 1.7% is anything to write home about but it was better than the forecasted growth rate of 1% or thereabouts. The cynic in […]

Capitalism, A Norwegian Rat And Some Cockroaches

(Originally posted at The Automatic Earth, theautomaticearth.com. This post may only be reposted with permission. Links may not be removed.) Courtesy of The Automatic Earth. Often, for some reason, when you want to make a simple point, before you know it it mushrooms into something much bigger. Like in this case, blasphemy. All I started out with […]

Carl Levin Opens New Investigation Into Wall Street; Obama Hits the Stump for the Middle Class

Courtesy of Pam Martens. After packing his administration with 1 percenters or people earning a lucrative living off the 1 percenters, President Obama has decided, seemingly out of the blue, to hit the stump on behalf of the plight of the struggling middle class while railing against the income inequality that plagues the U.S.  Could the […]

“Tax Nightmare” of Eminent Domain Mortgage Seizures

Courtesy of Mish. Gayle McLaughlin, mayor of Richmond, California is hell-bent on her plan to seize mortgages via eminent domain, then provide “mortgage forgiveness” for the homeowners. I smacked the idea from a legal standpoint in Illegal Public Seizure of Mortgages Via Eminent Domain in the Spotlight. Tax Nightmare Legalities aside, there are also huge […]

Should You Trust Your Instincts on Gold?

Material from guest authors posted in Phil's Favorites is reposted with specific permission at www.philstockworld.com. Credit and appropriate links back to guest authors may not be removed.  Should You Trust Your Instincts on Gold? By Dennis Miller Recent events in San Francisco and at La Guardia Airport made me recall a terrifying experience years ago. It was my last flight […]

Illegal Public Seizure of Mortgages Via Eminent Domain in the Spotlight

Courtesy of Mish. Bloomberg reports Richmond Escalates Eminent Domain Plan With Loan Offers. Richmond, California, is backing a plan to buy mortgages in low-income areas for as little as 25 cents on the dollar and may force the sales under eminent domain laws, moving forward with a controversial program that would potentially seize control of […]

Did Wall Street Miss A Bribe Payment?

Courtesy of John Rubino. It’s hard to know which aspect of today’s world future historians will find most appalling. But the fact that during the greatest financial crime spree ever, not a single major Wall Street executive has gone to jail has to rank right up there. Yes, the occasional insider trader and Ponzi scheme […]

Unstoppable Demand Meets Undeliverable Object – A Run on the Bullion Banks

Material from guest authors posted in Phil's Favorites is reposted with specific permission at www.philstockworld.com. Credit and appropriate links back to guest authors may not be removed.   Unstoppable Demand Meets Undeliverable Object – A Run on the Bullion Banks Courtesy of Jesse's Cafe Americain "People of privilege will always risk their complete destruction rather than surrender any […]

Pundits Cry Over A Minor Spill In June Home Sale Contracts But The Uptrend Continues

This post appears on Phil's Stock World – www.philstockworld.com – with specific permission.  Copyright © 2012 The Wall Street Examiner. All Rights Reserved. The above may be reposted with attribution and a prominent link to the Wall Street Examiner. Pundits Cry Over A Minor Spill In June Home Sale Contracts But The Uptrend Continues Courtesy of Lee Adler […]

Undisputed Champion

Material from guest authors posted in Phil's Favorites is reposted with specific permission at www.philstockworld.com. Credit and appropriate links back to www.philstockworld.com and to guest authors may not be removed.   Undisputed Champion Courtesy of Joshua M Brown Guess who won the post-crisis recovery? Guess who still rules the US economy and runs American capitalism, despite everything we have and haven't […]

Buying Back into Heidrick & Struggles

Buying Back into Heidrick & Struggles By Paul Price Sometimes the best new idea is an old idea. We sold the shares of executive search firm Heidrick & Struggles (HSII) at $17.37 per share on July 5, 2013. Today we were able to buy back a position at $14.94, a 14% discount to where we […]

Ingredion Inc: Fundamental Stock Research Analysis

Courtesy of www.fastgraphs.com. Before analyzing a company for investment, it’s important to have a perspective on how well the business has performed.  Because at the end of the day, if you are an investor, you are buying the business.  The FAST Graphs™ presented with this article will focus first on the business behind the stock.  […]

Retail Sales Rise in Germany and France, Decline in Italy; Margin Squeeze in Germany and France

Courtesy of Mish. It’s a mixed bag of retail PMI news in Europe today (assuming of course one believes that spending is good). Italy: Sharpest drop in retail sales since April In Italy, Markit reports Sharpest drop in retail sales since April Key points Rate of decline in retail sales accelerates for second straight month […]

Bloomberg Beverage Ban Bounced By Appeals Court

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. And so Bloomberg's initial foray into testing the limits of America's nanny financial capital is officially over. Moments ago Reuters reported that Mayor Mike's quest to limit what New Yorkers may or may not drink is officially over after his forced plan to ban […]

US Rents Hit Record Highs As Homeownership Plunges To 18 Year Lows

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The American Homeownership Dream is officially dead. Long live the New Normal American Dream: Renting. According to the latest quarterly homeownership data released by the Census Bureau, the raw homeownership rate of 65.0% was unchanged from last quarter and 0.4% lower than a year […]

The Wall Street Cartel

Courtesy of Pam Martens. The financial crimes you can’t see are the ones that can really hurt you.  When Congress, the media, the financial experts talk about transparency on Wall Street, it is always in abstract terms: we should have more transparency; we should know more details about the kinds of risks Wall Street is […]

How Do China’s Seven ‘Speak-Nots’ Play in America?

Courtesy of Larry Doyle. People of faith are likely very familiar with the seven deadly sins: pride, envy, gluttony, lust, anger, greed, and sloth. I think it goes without saying that our nation would be a better place if we had less of these vices on display. That said, our greatest virtues emanate from the […]

Remember when sequestration was going to crush the defense stocks?

Remember when sequestration was going to crush the defense stocks? Courtesy of Joshua M Brown, The Reformed Broker Conventional wisdom circa year-end 2012, winter 2013: Among the deepest cuts to government spending under the sequestration terms would be to the defense budget. Many defense stocks have been underperforming the market as a result of investor anxiety […]