There were two pieces of economic data released today. The ADP unemployment data is a prelim to the weekly unemployment claims, and is a bit of a so what. So are factory orders, but let’s take a look at it see to see if there’s any evidence of green shoots, or the latest term of…
Lee’s Free Thinking
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Economics
The recession is over
by Andy Bebut •
As the market just (most likely) formed an important intermediate top it is the good time to celebrate the end of this recession. The bear market rally always ends on perfect news. The end of the recession seems good enough to me to mark the top.
The article I’ve linked above is the perfect example to […]
Economics, Housing, Latest Business Headlines
More Little Lies and Big Spin- Gains or Blips?
by Lee Adler • • 4 Comments
The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose more…
Economics, Latest Business Headlines
Forbes Polls the Wackosphere and Gets An Earful
by Lee Adler • • 11 Comments
The editors of Forbes have asked me to give them my economic forecast for the next year (cough, cough, guffaw). Don’t be impressed. They sent the same email to the whole financial wackosphere. I assume that their purpose, as with the entire financial infomercial media, is to poke fun at us wackos so as to…
Economics
FAS
by Andy Bebut •
Just one simple chart to see how the triple-leveraged financial ETF from Direxion was perfoming during the rally from March lows:
The performance is compared to simple, not leveraged financial ETF (XLF). As you can see the slippage is amazing. I’m curious to know what is your downside target for the correction (if the correction ever […]
Economics
The Fed statement
by Andy Bebut •
The best interpretation of the Fed statement I saw here:
Dear Banksters,
We want our f*** money back before October. If not, we will monetize it and have FASB board bring back stricter accounting rules. Do you f*** understand? Now get a move on selling your $2 trillion in equities, you don’t have much time.
Regards,
Benny
P.S. Jamie and […]
Economics
Our universal fast-food chain
by Andy Bebut •
I hope that the global fast-food franchises is the American invention. Just to be proud about something. And I’m inviting to check the health of our biggest and most important franchise – the dollar.
Please keep in mind that United States is the only country in the world, which is not trying to push its currency […]
Economics, Latest Business Headlines
Secretary “Stonewall” Geithner
by Lee Adler • • 0 Comments
See video below.
Economics, Latest Business Headlines
What They Don’t Tell You
by Lee Adler • • 9 Comments
There are 2 points I’d like to make about today’s economic data. The Bureau of Labor BS released the official unemployment rate this morning. It was 7.6%, which is bad enough. The first point I want to make is that what they don’t emphasize is that the real unemployment rate is 15.4%. This rate includes…
Economics
Unintended Consequences
by Lee Adler • • 7 Comments
This post was by Trader Joe on yesterday’s Stool Pigeons Wire. One of the consequences of the “CRASH” in the high-yield debt market is that corporate treasurers have finally woken up and realized that they can tender for their debt from desperate institutional holders for pennies on the dollar. This can provide a TREMENDOUS BENEFIT…
