Archives for September 2013

Shut Happens

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. It's 12:01am, do you know where your government is? *WHITE HOUSE BUDGET OFFICE DIRECTS AGENCIES TO BEGIN SHUTDOWN *U.S. GOVERNMENT SHUTS DOWN FOR FIRST TIME IN 17 YEARS S&P Futures are 1677, 10Y yield 2.65%, WTI $101.96, Gold $1329.00 – let's see where we […]

CHART OF THE DAY: A Government Shutdown Is No Reason To Be Selling Stocks

CHART OF THE DAY: A Government Shutdown Is No Reason To Be Selling Stocks By ROB WILE at Business Insider Stocks are tumbling today, and some pundits are blaming the impending U.S. government shutdown. But this wouldn't be the first time the government shut down. In fact, the stock market actually rallied during past shutdowns. Below […]

JPMORGAN’S TOM LEE: The Government Shutdown Is Not A Reason To Sell Your Stocks

JPMORGAN'S TOM LEE: The Government Shutdown Is Not A Reason To Sell Your Stocks By MATTHEW BOESLER, of Business Insider Bloomberg TV A government shutdown appears imminent, but it's no reason to sell stocks, says JPMorgan chief U.S. equity strategist Tom Lee in a note to clients titled "Not a thesis killer, and not a reason to sell." […]

Strawberry Fields Forever; Is a Higher Minimum Wage Really the Answer? To What?

Courtesy of Mish. Japan Times reports the Latest Robot can Pick Strawberry Fields Forever Fruits of ingenuity: Agricultural machinery maker Shibuya Seiki and the National Agriculture and Food Research Organization demonstrate a robot that can pick ripe strawberries at the annual Auto-ID and Communication Expo at the Tokyo Big Sight convention center Wednesday. | AFP-JIJI […]

10 Terms Investment Pros Use to Raise Money

10 Terms Investment Pros Use to Raise Money Courtesy of Joshua Brown, The Reformed Broker You are easily dazzled by words that sound more sophisticated than they really are. You are totally aware of this – and yet you remain susceptible. Using hundred-dollar words where a five-dollar word will do is a time-honored, traditional selling […]

Demand-driven inflation remains elusive in Japan

Demand-driven inflation remains elusive in Japan Courtesy of Sober Look Japan's National Statistics Bureau published the latest inflation figures last week. As expected, prices continue to rise, presumably lifting the nation from its prolonged cycle of deflationary pressures.   Source: Statistics Bureau But as discussed earlier, prices are generally not rising due to stronger domestic demand – which […]

Eurozone’s falling excess reserves – is another round of LTRO required?

Eurozone's falling excess reserves – is another round of LTRO required? Courtesy of Sober Look The euro area banking system excess reserves are continuing to decline – touching the lowest level since 2011.   Just to put this in perspective, the chart below shows excess reserves in the US. With the Fed continuing to pump […]

Why We’re Ungovernable, Part 8: Washington Shuts Down, Rome Falls

Courtesy of John Rubino. This week both Italy and the US saw their ruling coalitions splinter. First Italy: Italy’s Coalition Teeters as Berlusconi Allies Walk Out Italian Prime Minister Enrico Letta’s government teetered on the verge of collapse after allies of former leader Silvio Berlusconi, led by Deputy Premier Angelino Alfano, said they planned to […]

Record $217 Billion Corporate Bond Issuance in September; Verizon Leads the Way With Largest Bond Deal Ever at $49 Billion

Courtesy of Mish. Corporations are scrambling to raise cash to complete buyouts or simply because they can. Barron’s reports September Sees Record $217 Bln Corporate Bond Issuance September isn’t completely finished just yet and it’s already produced a record $217 billion in U.S. corporate bond issuance, an 18% bump from the previous single-month record, according […]

Record $217 Corporate Bond Issuance in September; Verizon Leads the Way With Largest Bond Deal Ever at $49 Billion

Courtesy of Mish. Corporations are scrambling to raise cash to complete buyouts or simply because they can. Barron’s reports September Sees Record $217 Bln Corporate Bond Issuance September isn’t completely finished just yet and it’s already produced a record $217 billion in U.S. corporate bond issuance, an 18% bump from the previous single-month record, according […]

CSX Corp: Weighing Efficiency Against Risks

Courtesy of www.fastgraphs.com. In true monopoly board game fashion, CSX Corporation (CSX) – based in Jacksonville, FL – is one of the nation’s leading transportation suppliers.  Operating about 21,000 railroad miles in 23 eastern states and Canada, CSX has access to over 70 ports along the Atlantic and Gulf Coasts. In turn, roughly two-thirds of […]

Buying VMI on Weakness

Buying VMI on Weakness By Dr. Paul Price of Market Shadows  We took advantage of a five-day pullback and added 28 shares of Valmont Industries (VMI) to our Virtual Value Portfolio late today. Our cash reserves and open positions now reflect this new addition to our portfolio. See full details here.  Here are comments that were previously made, added to this […]

Daily Reading

What's Going On In The Financial Markets? "October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February." Mark Twain Is October particularly treacherous? Not really.  In October: Into the Wild, Joshua Brown shows that October is a wild, highly volatile […]

Berlusconi Faces Party Revolt; Collapse of Italian Government Hangs in Balance; Rush For Votes is On

Courtesy of Mish. Late last week, former prime minister Silvio Berlusconi ordered five ministers to resign from Italy’s government. They did, and as a result, current prime minister Enrico Letta’s coalition government is on the verge of collapse. Mr Berlusconi, leader of the centre-right Forza Italia party, said the resignations were a response to the […]

The Accumulation of Phantom Wealth

Retirement Nightmare Courtesy of Pater Tenebrarum, Acting Man It is widely known that Americans on average have saved very little, and in many cases actually nothing, for their retirement. Here are a few examples of studies looking at retirement savings: one recent study found that 50% of US citizens have saved precisely zero for their retirement. We […]

Interview with James Grant

Listen to an excellent interview with James Grant by King World News here > Silence is golden. The Fed members, ignoring that rule, can't seem to stop talking. They cause risk and volatility. The Fed is ruining its own credibility and diminishing the faith in our paper-based, faith-based monetary system. 

Daily Reading

Daily Reading  “October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” Mark Twain Is October particularly treacherous? Not really.  In October: Into the Wild, Joshua Brown shows that October is a wild, highly volatile months. Besides being a good […]

The JP Morgan apologists of CNBC

CNBC cannot see beyond shareholder value in its evaluation of a CEO. Alex Pareen on CNBC brings up JPM's series of violations, enormous fines, and bad PR, and claims that JPM is simply too big in its current form to be well managed from all perspectives (not merely stock price). Defending Jamie Dimon, Maria Bartiromo makes fun of the […]

Does Wall Street Have Primary Dealers or Primary Stealers?

Courtesy of Pam Martens. Maria Bartiromo, CNBC Host, On Meet the Press, September 15, 2013 On September 15, 2013, CNBC’s Maria Bartiromo appeared on NBC’s Meet the Press to reminisce on the five-year anniversary of the Wall Street crash. After host David Gregory remarked that only 14 percent of Americans had a positive view of […]

Who and What Are To Blame for Uncle Sam’s Imminent Shutdown?

Courtesy of Larry Doyle. With the government mere hours away from an imminent shutdown, I commented over the weekend that a small proprietor would not run his hot dog stand in such a fashion. Yet here we sit — with Uncle Sam sticking his mitt ever deeper into our pockets — faced with the prospect […]

Spain’s Retail Sales Fall 4.2%, 38 Consecutive Negative Months

Courtesy of Mish. Somewhere along the line the economic situation in Spain will bottom, but there are no real signs yet that a recovery is underway. Courtesy of El Confidencial, via translation, please consider Retail sales fell by 4.2% and totaling 38 months in negative Retail trade sales fell by 4.2% in August compared with […]

October: Into the Wild

October: Into the Wild Courtesy of Joshua M Brown, The Reformed Broker If you've never before heard the below famous quote by Mark Twain, consider its almost supernatural prescience along with its sardonicism: "October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, […]

Tesla: What Would Peter Lynch Say?

Courtesy of www.econmatters.com. By EconMatters Our post last night highlighting our view and what BofA thinks of Tesla (Nasdaq: TSLA) seems to have stirred up a fire storm of reader comments at Seeking Alpha (in case you missed our post, catch it here).  Then we thought it’d be interesting to see how Tesla would be valued […]

More Government Shutdown Hype

Courtesy of Mish. The AP comments How budget showdowns could squeeze the US economy. The story is nearly all hype. Let’s take a look. Q. What exactly will happen within the next days and weeks? A. The most urgent deadline is for Congress and the White House to agree to keep funding the government after […]