Do As We Say, Not As We Do…The U.S. Senate Sends A Message To Federal Workers

| November 30, 2011

It’s fine to go this route, but these Senate buffoons had better not give themselves a pay raise during the discussed timeline.  Capice!  Secondly, we would question the math analysis from the Congressional Budget Office, as their math skills have proven to be lacking over the years! Republicans in the U.S. Senate want to cover the estimated […]

Did A Large European Bank Almost Fail Last Night?

| November 30, 2011

Hmm…this is speculative in nature, but here’s an interesting question: Just how bad was the situation, if the global central banking cabal had to intervene all over again, and just what was not being told to the general public? Forbes may have one explanation: “It appears that a big European bank got close to failure […]

Six Central Banks Save The World…Again!

| November 30, 2011

From PIMCO cofounder Mohamed El-Erian: The coordinated action “lowers the cost of emergency funding and increases the scope,”  Central banks “are seeing something in the functioning of the banking system that worries them”.  Six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to […]

Lottery Sales Hit Records In 17 States

| November 30, 2011

It’s called “Take a shot”….“We have a situation where a lot of people are struggling financially — the last thing we should be doing is telling people to go out and gamble,” said Hann, a Republican from Eden Prairie.  Now Walmart wants to sell lottery tickets, and no doubt soon the food stamp money will […]

Consumer Confidence Jumps Most In Eight Years

| November 29, 2011

Knock yourself out with these polls, personal savings are dropping and household earnings are less then last year, how long is this dopey optimism of unrealistic expectations going to last?  Right you are, about long enough to get a poke in the eye!  Geez Here is what Fed Gov Janet Yellen said today: “Very high debt to income […]

Housing Heading Down Again, While Interest Rates Are At Record Lows

| November 29, 2011

CASE  SHILLER HOUSING MAIN POINTS: 1. The Case-Shiller 20-city house price index declined by 0.6% (month-over-month, seasonally adjusted) in September, a larger drop than expected by the consensus. Estimates for earlier months were also revised lower. On a year-over-year basis, prices were down 3.6%. The seasonally adjusted version of the index fell to a new […]

American Airlines Goes Nite Nite (Bankrupt)

| November 29, 2011

American Airlines Files For Bankruptcy   The list of bankruptcies is likely to get longer over the next year or two. We would expect it to include a major Bank, a major Insurance Company, Major Industrial Companies, (for a starter Eastman Kadak comes to mind on that one)…. and Brokerages similar to MF Global,  (one big, bad bet […]

Euro Could Go Bye Bye At Any Time…Hello, Anybody Listening?

| November 26, 2011

The time to prepare for a disaster, is before the disaster happens. Capice?  Britain’s Foreign Office Prepares For Riots In Europe British Embassies are being warned in Europe of dire consequences of an eventual Euro breakup.  Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks […]

A Little Bit Of History

| November 24, 2011

The history of Thanksgiving….. In the United States, the modern Thanksgiving holiday tradition traces its origins to a 1621 celebration at Plymouth in present-day Massachusetts. The initial thanksgiving observance at Virginia in 1619 was prompted by the colonists’ leaders on the anniversary of the settlement. The 1621 Plymouth feast and thanksgiving was prompted by a […]

Happy Thankgiving To All Of Our Friends Visiting The Stated Truth

| November 24, 2011

                  A Parrot Named Turkey    A young man received a parrot as a gift. The parrot had a bad attitude and an even worse vocabulary full of foul language.  Every word out of the bird’s’ mouth was rude, obnoxious and laced with profanity. The young man tried and tried to change the bird’s attitude […]

New Bank Criteria…The Fed Is Sending A Pointed Message

| November 23, 2011

We have NEVER seen the U.S. Fed set such a stringent set of criteria for the banks…we think there is a message here!  Actually it’s a no brainier!   Leverage is a killer near term. De leveraging and deflation is the immediate concern. The Federal Reserve released criteria yesterday for capital tests measuring the strength of the largest 31 […]

Persian Gulf Tensions Are Rising Rapidly

| November 22, 2011

This from The Inger Letter……. Besides the EU situation and the growing tensions in the Persian Gulf region (hard to believe it; but mainstream news here isn’t at all reporting the reality of the rising issues…to wit.. the pressure against Iran’s Central Bank, with restriction of oil sales in the wings.. much less 2 US […]

Engine Room – We Need More Steam….Hello, Mooore Steam?

| November 22, 2011

Art Cashin, from the floor of The New York Stock Exchange…. Unintended (And Unwelcome) Consequences – Rich Miller at Bloomberg caught our eye this morning with this rather disturbing note:   Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policy makers may find themselves hampered in restoring financial stability should the European debt crisis spread […]

Dumb Blondes…

| November 21, 2011

Dumb blondes…at age 85! An elderly blonde Lady called 999 on her mobile phone to report that her car has been broken into. She is hysterical as she explains her situation to the operator: “They’ve stolen the stereo, the steering wheel, the brake pedal and even the accelerator!” she cried. The operator said, “Stay calm […]

Baby Boomer’s Looking Ahead 30 Years…The Predicament

| November 21, 2011

Uh, what…so  what are we looking ahead to, again? Three sisters ages 92, 94 and 96 live in a house together. One night the 96 year old draws a bath.. She puts her foot in and pauses… She yells to the other sisters, “Was I getting in or out of the bath?” The 94 year old yells […]

The Maverick Bond Barons

| November 20, 2011

We have a broken down world! Can two Lone Rangers rescue us?   PIMCO’s Bill Gross laid out his pessimistic outlook, fretting that growth in developed countries could be weighed down for years by debt problems in Europe and high unemployment in the U.S. BlackRock’s Larry Fink said he sees “all the same problems, and the problems […]

Corporate Returns Are ‘Terrific’ As U.S. Workers Suffer Big Time

| November 15, 2011

From the master himself,  Warren Buffett…“Through the tax code, there has been class warfare waged, and my class has won,” Buffett said. “It’s been a rout. You have seen a period where American workers generally have gone no place, and where the really super rich as a group increased their incomes five for one in […]

Bonus Time! But It’s Really Bone Us, The Tax Payers!

| November 15, 2011

This is almost too ridiculous to review…….Nearly $100 million of tax dollars went to lucrative pay packages for top executives at (almost bankrupt) Fannie Mae and Freddie Mac, filings show. Geez  The latest cost estimate from FHFA is that the two bailouts will end up costing taxpayers about $124 billion through 2014, though that figure […]

U.S. Petroleum Production Rises…While Consumption Drops

| November 14, 2011

This is all very positive for the U.S. So, now you know. The longest and deepest recession in the post-war period reduced oil consumption by 12.8%.  At the same time production is bouncing to the upside.  The next thing you know, the price of gasoline will start to drop…or perhaps it defies the law of gravity […]

Another Perry Moment, This Time By Herman Cain…The Trend Isn’t Your Friend With The Republicans…

| November 14, 2011

If America ends up with one of these Republican muppets it is doomed, no… really, we’re doomed….and why do we say that….read on! A simple question: Do you agree with the way President Obama handled Libya?   “I do not agree with the way he handled it for the following reasons – um, no, that’s a different one,” […]

Thanksgiving Meal Cost Jumps 13%

| November 13, 2011

Excuse us, but… didn’t the government just say a week or so ago that there wasn’t much to worry about with inflation?  Um, Yep…that’s what they said.  Liar Liar Pants On Fire! The cost of a Thanksgiving dinner in the U.S. will jump 13 percent this year, the biggest gain in two decades, as prices rose […]

Amazon’s Kindle Fire Tablet To Allow Hulu Plus TV Streaming

| November 13, 2011

Wireless and mobile….the only way to go now days!  But the 7″ screen seems a bit small to us. From the LA Times: Amazon.com Inc. will allow users to use Hulu Plus on its upcoming Kindle Fire device, adding a major source of TV and movie content to its tablet arsenal. The 7″ tablet, which […]

Fannie Mae Says It Needs Another $7.8 Billion

| November 8, 2011

It’s the gift that keeps taking…. Fannie Mae has now borrowed $111.6 billion from the government, and paid back a mere $17 billion in forced dividends. Freddie Mac has taken more than $71 billion in aid and paid back around $15 billion. The net cost to the taxpayers for bailing out both now stands at […]

The National Weather Service Says Alaska Has An Epic Size Storm Brewing

| November 8, 2011

This from Reuters – An “epic” storm is bearing down on western Alaska on Tuesday, the National Weather Service said, warning that it could be one of the worst on record for the state. The storm, moving inland from the Aleutian Islands, was expected to bring hurricane-force winds with gusts up to 100 miles per hour, […]

Tremors Around The El Hierro Volcano Could Mean Big Things…Or Maybe Not

| November 8, 2011

No, we didn’t make this up….really, who could even have dreamed up such a thing? From Art Cashin on the floor of The New York Stock Exchange: There are new reports of earth tremors around the El Hierro volcano in the Canary Islands.  As you probably recall, El Hierro is located on a very unusual […]

U.S. Wealth Gap Between Young And Old Is Widest Ever…Yep, Ever!

| November 7, 2011

The wealth gap between younger and older Americans has stretched to the widest on record. Households headed by someone under age 35 had their median net worth reduced by 27 percent in 2009 as a result of unsecured liabilities, mostly a combination of credit card debt and student loans. No other age group had anywhere […]

Consumer Credit For September Is Out…No Surprises, Just The Same Old Nonsense!

| November 7, 2011

The entire consumer credit growth is from auto loans and student loans, while revolving credit dropped…Student loans have been a growth business, but at what expense? A whole student generation is hopelessly buried.  Truly buried like no other generation ever! So… just where did this consumer credit in 2011 come from?  Well, of the $32 billion in credit […]

Oklahoma Has 5.6 Magnitude Earthquake, Its Largest Ever…And Outlier Thoughts For The Rest Of This Year

| November 6, 2011

Odd things are happening in some unusual places, like the largest earthquake in Oklahoma, ever….expect more according to Clif High. Clif does Asymmetric Language Trend Analysis and writes a report called The Shape Of Things To Come.  We have followed him for some time and we have to say he has had some outlandish predictions on things…the interesting thing is that a […]

Our Only Question Is: Why Is This So Hard To Understand?

| November 3, 2011

Some sobering thoughts from Caroline Baum, author of “Just What I Said”.  She is a Bloomberg News columnist (the opinions expressed are her own). Why is so much energy being directed, or misdirected, at housing? Wouldn’t those efforts be better spent charting a sound course for the overall economy rather than targeting a specific sector? For […]

The U.S. Fed Slows Economic Outlook, Raises Inflation And Unemployment Rate Projections

| November 2, 2011

Fed assumptions become more realistic….we say better late then never, especially when in denial. FED OFFICIALS SEE 2011 GDP 1.6%-1.7% VS 2.7%-2.9% FED OFFICIALS SEE 2012 GDP 2.5%-2.9% VS 3.3%-3.7% FED OFFICIALS SEE LONGER-RUN GDP 2.4%-2.7% VS 2.5%-2.8% FED OFFICIALS SEE 2011 UNEMPLOYMENT 9.0%-9.1% VS 8.6%-8.9% FED OFFICIALS SEE 2012 JOBLESS ESTIMATE 8.5%-8.7% VS 7.8%-8.2% […]

Israel Preparing For Preemptive Strike On Iran…According To Sky News

| November 2, 2011

We’ve heard this for months now, but the thinking was that Big Daddy (the U.S.) shut the idea down…. Sky News has reported that Israeli Prime Minister Benjamin Netanyahu is trying to rally support in his cabinet for an attack on Iran, according to government sources. “The country’s defence minister Ehud Barak and the foreign […]

U.S. Food Stamp Use Up 8% For Most Recent Period, Hits New Record

| November 1, 2011

Hey, what the heck…records are made to be broken. August (the latest data), set a new all time record for Americans on food stamps, with 45.8 million poor souls on food stamps for sustenance.  Alabama, Delaware, Utah, and Washington all had at least a 3% sequential increases in food stamp usage.

Bank Of America Goes Back To Old Customer Model

| November 1, 2011

Looks like the Netflix business model of raising charges and fees doesn’t work…we have slow learners with the banks, but they ultimately did get it! Bank of America has dropped its plan to charge customers $5 a month for using their debit cards, after a giant sized customer backlash.

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