Wall Street Examiner Exclusives

Wall Street Examiner exclusives

US Gets A BoJob As Federal Tax Collections Zoom Higher, Treasury Hoards Cash

Fed, BoJ Balance Sheets and US Stocks- Click to enlarge

That’s right. Uncle Kuroda, the head of the Bank of Japan is giving US a BoJob and for today at least, the US stock market was feeling it. Of course, markets top out when everything looks magnificent and they couldn’t look much brighter than they do right now. This post is an excerpt from today’s weekly…

GDP- Surprise, Surprise, Surprise…Not

Federal Withholding Taxes Growth- Click to enlarget

The advance number for third quarter GDP came in at 3.5%, surprising the Wall Street conomists, whose consensus guesspectation was 3%. It should not have been a “surprise.” The US Treasury reports tax collection data virtually in real time, every day. I publish a chart of the withholding tax data and report the implications of that data for the markets every…

Volatility Is Here To Stay, and Here’s Why It Doesn’t Necessarily Mean Bear Market

I told CNBC Africa’s Lindsay Williams on his nightly business radio program why volatility is here to stay but doesn’t necessarily spell a bear market for the US, yet. The program was recorded on Monday morning, October 27.  You can listen or download here or use the player below.

 

Fed Again Issues Surreptitious SNAP Payments to Bankster Welfare Queens At Taxpayer Expense

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UPDATE- The Fed renewed its Term Deposit facility a couple of weeks ago initially taking in $110 billion in 7 day deposits paying 26 basis points. That amount rose to $219 billion today from 69 banks.Since these payments reduce the surplus which the Fed returns to the US Treasury, the taxpayer bears the cost of…

Even With Growth, New Home Sales Still In A Depression

New Home Sales- Click to enlarge

There seems to be lots of confusion about today’s Commerce Department release on new home sales. The report showed that new home sales were at a seasonally adjusted annual rate of 467,000. Part of the confusions stems from the fact that that is a completely bogus, made up, fictitious number in the first place. Seasonal adjustments are…

Initial Claims Stay At Bubble Record Lows, Is This Time Different?

Initial Claims and Stock Prices- Click to enlarge

The headline, fictional, seasonally adjusted number for initial unemployment claims came in at 283,000, very close to the Wall Street conomist crowd consensus guess of 285,000. That was a non event. The actual, not seasonally finagled numbers, which the Wall Street captured media ignores, shows claims continuing at all time record levels on the basis of claims per…

Homebuilder Sector Leading Rally– Predicting A Housing Boom?

Mr Hanky, who posts on Capitalstool.com, wondered today whether strength in the Homebuilder Index portended a housing boom. I responded that I doubt it. With the average wage stagnant and median household income in the toilet, new housing demand will remain weak. In the stock market, the housing ETFs are not really about housing. They’re overweighted with home…