Moses

Restructuring firms are hiring up and getting ready for business, as a wall of debt amounting to as much as $1.3T matures before 2014 - resulting in an estimated wave of three years of business restructuring demand.

Better hope corporate bond rates don't spike. Just another ball for Bernanke to juggle.

Kia September U.S. sales: +24% to 21,623 to finish its best-ever quarter. Optima +214% to 5,986 vehicles. New compact sedan Forte sells 4,449 units. (PR)

AHAHAHAHA, and GM is ramping production when sales are off 40%. Capitalism is dead!

Chrysler (FIATY.PK) September U.S. sales: -42.1% to 62,197, vs. estimate of -48.7%. Dodge brand -43% to 35,864 vehicles; Jeep brand -19% to 17,287; Chrysler brand -61% to 9,046. (PR)

GMAC needs to get out there and loan loan loan!

The Treasury will sell $78B in notes and bonds next week (.pdf), along with another $60B in short-term bills. Treasurys have moved significantly higher; the 30-year yield -0.08 to 3.98%; 10-year -0.09 to 3.21%; 5-year -0.10 to 2.22%; 2-year -0.06 to 0.89%.

Supply up, stocks down, so demand up. Can demand meet supply as supply goes parabolic? Time will tell...

A depressing report suggests that even if adding two million jobs a year, it will take seven years to restore employment to pre-recession levels.

Because extended periods of low interests rates have worked out so well in the past...


On Sep 30 04:07 PM Stone Fox Capital wrote:

> Depressing if you don't have a job, but for the market its neutral
> or bullish. Thats alot of slack in the economy that will allow for
> an extended period of low interest rates.

One possible reason that insider selling has become so lopsided: a Business Roundtable survey (.pdf) that finds over the next six months 79% of CEOs expect capital spending to be flat or worse - and 87% expect to do no hiring.

87% say not planning to hire anytime soon. Ouch, I feel for all the college grads joining the unemployment ranks with lots of student loans to pay off. I believe, according to the Fed, that we need 2.5% GDP growth just to keep employment steady and with the massive amount of debt service and government interference we are likely to see sub 2% growth for a long time. Bill Gross is betting on deflation and very low growth and he is a pretty smart guy to follow.

House Financial Services Chairman Barney Frank - who favors a "council of regulators" over the Federal Reserve when it comes to watching systemic risk - is backing Ron Paul's "Audit the Fed" bill, which is facing no significant opposition in the House.

Whippet, you are correct. Only 25 Senators currently backing this. Everyone needs to take 2 mins to email their senators demanding that they vote for this bill.

www.congress.org/congr...

Sept. Reuters/University of Michigan Consumer Sentiment: 73.5, the highest in more than a year, vs. consensus of 70.3 and up from 65.7 in August. Current conditions 73.4 vs. 66.6 in Aug. 12-month outlook an astonishing 88, up from 69. "Pace of gains in confidence continued in late September as the economic news reaching consumers grew even more positive," researchers say.

ABC survey displays a totally different picture

The Fed says continued improvement is leading it to further scale back two emergency lending programs, the Term Auction Facility and Term Securities Lending Facility. More details on the Fed's balance-sheet makeup to come this afternoon.

Impossible, they can print it and they already have.


On Sep 24 02:43 PM herbert hoover wrote:

> and, by the way, they're running out of money

The FHA has been hit so hard by the mortgage crisis that for the first time ever its cash reserves will drop below the minimum level set by Congress, Commissioner David Stevens tells The Washington Post in an interview. "There's nothing more serious that we're addressing right now, outside the housing crisis in general, than this issue."

You mean 3.5% down payment isn't responsible lending?

Seeking Alpha contributor and YouTube star Peter Schiff formally launches his campaign to unseat Chris Dodd as Connecticut senator. In our live discussion on the dollar this summer, Schiff took some strong positions about the (un)reliability of Fed figures.

Dodd, Frank, Pelosi, Rockefeller, Byrd, Rangel, Stark all need to go. In fact all 535 need to go, except maybe Paul, Grayson, and a handful of others.

New from The Economist: a Global Debt Clock. At 10:37 today, global debt totalled $35,014,935,027,853.

Also,
www.reuters.com/articl...

According to that article, total debt is over one third of total wealth.

New from The Economist: a Global Debt Clock. At 10:37 today, global debt totalled $35,014,935,027,853.

Sustainable?

Wells Fargo (WFC) says it has fired the executive who settled in at a foreclosed $12M Malibu Colony beach house for summer weekends and parties.

Fired or promoted?

Fed buys back $4.95B of the $14.5B offered by dealers in Treasurys maturing from 2016 to 2019, less than the $7B it bought on Aug. 7 when dealers were offering $48.3B.

Largest purchases was the 10 year CUSIP 912828FF2 at 1.8B, also 912828GS3 at 1.2B Guess what auction is tomorrow? That's right the 10 year.