David Rosenberg on the 'Cheery' .6% Case-Shiller Decline [View article]
Wow,thats a ugly chart....the unemployed or underemployed usually don't buy houses,and now with the new rules(20% down,good credit,sufficient income,etc),the buyer pool is shrinking fast.
I don't know where this ends,but its sure not going to be pretty...
There's No Lying in Government Statistics: The Labor Market Is Still Down [View article]
Good analysis,but with some holes...how does several million illegals or legal temps,who live 5 or 6 to the house and send half of their earnings back to a foreign country,change the equation?They consume very little ,but displace other "discouraged workers"
This was not the case in the 83 recession....so maybe it truly is different this time..
Ivy League Endowments Are Stuck in a Rut - Barron's [View article]
A horrible market like we had would make most managers look bad,but illiquid markets in exotic assets makes the problem much worse...for instance,they were probably locked out of much the gains for the last few months,for lack of liquidity.
I suspect a lot of state and local retirement funds are in the same predicament...I know CA. has a lot of RE investments that way upside down...
Assuming the $134B in U.S. bonds found smuggled in a suitcase carried by two Japanese men across Italy's border proves genuine, William Pesek wonders what it means for U.S. control of the world's core currency if someone can carry around the GDP of New Zealand. Either way Karl Denninger hopes this issue doesn't disappear into the night. [View news story]
It already has disappeared...the two men have been released,according to a Japanese newspaper who sent a reporter to Italy to investigate...
The Economy Is So Bad, Even Pawn Shops Are Suffering [View article]
Pawn shops have been closing in our area(NC),many after years in business.Gold prices forced jewelry prices up,killing sales,and demand for tools is off as well.
What saves it...you can scrap the gold jewelry for twice what you loaned or bought it for.If people give out of gold,the pawn business is dead.
After discussing Bank of America's (BAC) "horrific" loan losses, analyst Dick Bove boosts his price target to $19 from $5, saying confidence in the bank and its management is improving, and that it's becoming increasingly clear the Merrill Lynch acquistion was a good move. BAC +0.6% premarket to $13.81. [View news story]
And Bove is always right....the biggest bank shill of all...
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Latest | Highest ratedState Budget Gaps and Investment Implications [View article]
David Rosenberg on the 'Cheery' .6% Case-Shiller Decline [View article]
I don't know where this ends,but its sure not going to be pretty...
There's No Lying in Government Statistics: The Labor Market Is Still Down [View article]
This was not the case in the 83 recession....so maybe it truly is different this time..
Job Losses Signaling Recession Isn't Over [View article]
Wednesday Outlook: Commodities, Global Markets [View article]
Ivy League Endowments Are Stuck in a Rut - Barron's [View article]
I suspect a lot of state and local retirement funds are in the same predicament...I know CA. has a lot of RE investments that way upside down...
Anyway,good reporting Eli...
Positioning for When Water Runs Out: Part II [View article]
If it wasn't so cold there,I might consider moving....their water will make a big impact in the future,IMO...
Tuesday Outlook: Commodities, Global Markets [View article]
Another Friday night and two more banks check out: The 38th and 39th bank failures of the year take place in Georgia and North Carolina. [View news story]
Assuming the $134B in U.S. bonds found smuggled in a suitcase carried by two Japanese men across Italy's border proves genuine, William Pesek wonders what it means for U.S. control of the world's core currency if someone can carry around the GDP of New Zealand. Either way Karl Denninger hopes this issue doesn't disappear into the night. [View news story]
The Economy Is So Bad, Even Pawn Shops Are Suffering [View article]
What saves it...you can scrap the gold jewelry for twice what you loaned or bought it for.If people give out of gold,the pawn business is dead.
You can't make it on TVs and DVD players....
After discussing Bank of America's (BAC) "horrific" loan losses, analyst Dick Bove boosts his price target to $19 from $5, saying confidence in the bank and its management is improving, and that it's becoming increasingly clear the Merrill Lynch acquistion was a good move. BAC +0.6% premarket to $13.81. [View news story]
If It Looks Like a Bull, Walks Like a Bull, Acts Like a Bull… [View article]
If you are a contrarian,this may be your signal...
Harley-Davidson Fights Back from Negative Analysis [View article]
Most of the bikes I just mentioned haven't been cranked in years...
Wednesday Closing Update [View article]