HiSpeed's Comments HiSpeed's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/317013/comments Sources say California Governor Arnold Schwarzenegger will ask President Obama for $8B in relief to ease large-scale cuts to the state's already diminished social programs amid a $21B anticipated deficit. The state was the biggest bond issuer this year, selling $36B. http://seekingalpha.com/news/market_currents/post/38843?source=feed#comment-820268 820268
CA needs to make CUTS until their budget is BALANCED! Otherwise, we're just encouraging MORE fiscally irresponsilbe policies!]]> Thu, 24 Dec 2009 09:26:06 -0500
CA needs to make CUTS until their budget is BALANCED! Otherwise, we're just encouraging MORE fiscally irresponsilbe policies!]]> A New York Times/CBS News poll focuses on the trauma of the newly unemployed: Almost half have suffered from depression or anxiety; 40% of parents notice behavioral changes in their children; 25% say they've lost their home or been threatened with foreclosure or eviction. http://seekingalpha.com/news/market_currents/post/38287?source=feed#comment-806893 806893
Assuredly, the LAST thing on the mind of someone who is unemployed and trying to make ends meet for his/her household is whether or not the oceans will rise a whole millimeter over the next year, real or imagined!]]> Tue, 15 Dec 2009 13:05:00 -0500
Assuredly, the LAST thing on the mind of someone who is unemployed and trying to make ends meet for his/her household is whether or not the oceans will rise a whole millimeter over the next year, real or imagined!]]> John Tamny seeks a ban on "bubbles" - not the phenomenon, but the word, which has now been overused into meaninglessness. There are two sides to every trade, and there's no law that says markets must collapse if they rise too much. http://seekingalpha.com/news/market_currents/post/38220?source=feed#comment-805396 805396 Mon, 14 Dec 2009 14:27:30 -0500 The yen may take over carry trades, as borrowing from Japan has become nearly as cheap as U.S. loans for the first time in four months. Expectations are that the U.S. economy will grow twice as fast as Japan's in 2010. http://seekingalpha.com/news/market_currents/post/38222?source=feed#comment-805389 805389
So what's zero times two?]]> Mon, 14 Dec 2009 14:24:22 -0500
So what's zero times two?]]> Meanwhile, on This Week, Larry Summers predicted a return to job growth by this coming spring. Ahead of Obama's meeting tomorrow with bankers, Summers said "it doesn't cost anything to encourage banks, as the president will be doing, to meet their responsibilities and expand the flow of credit to small business," which he believes will spur job creation. http://seekingalpha.com/news/market_currents/post/38165?source=feed#comment-804456 804456
Meanwhile, unemployment 10% and growing.

History already shows that socialism ( which this administration's actions clearly embrace) has a failure rate of 100%. This administration is preaching "this time it's different!"

2010 elections can't come soon enough!]]> Sun, 13 Dec 2009 23:44:14 -0500
Meanwhile, unemployment 10% and growing.

History already shows that socialism ( which this administration's actions clearly embrace) has a failure rate of 100%. This administration is preaching "this time it's different!"

2010 elections can't come soon enough!]]> Economist Joseph Stiglitz calls for an unemployment Powell doctrine, urging "overwhelming force" be used to combat 10% joblessness. He says the February $787B spending package was too small and risks a vicious cycle of deceleration, and that banks aren't restructuring home loans because they're still allowed to carry them at face: "I call that marking to hope, not marking to market." http://seekingalpha.com/news/market_currents/post/38060?source=feed#comment-800320 800320
Put two economists in a room - get four different opinions. ]]> Thu, 10 Dec 2009 14:55:09 -0500
Put two economists in a room - get four different opinions. ]]> If you lend someone 100% of the value of the home they're buying, what's the loan-to-value ratio? If you said 100%, you just don't get New Century math, says Floyd Norris - which has it at 84%. The SEC has charged New Century Financial execs with fraud. http://seekingalpha.com/news/market_currents/post/37899?source=feed#comment-796585 796585 Tue, 08 Dec 2009 14:43:07 -0500 Bullish words from JPMorgan this morning: "We find investors to be skeptical regarding the durability of the unfolding economic recovery, but our view is that it will have legs, with an improvement in labor markets confirming its sustainability. In addition, the stabilization in the credit markets, signs of house prices troughing, steep yield curve and the rebound in corporate profitability are the positives." http://seekingalpha.com/news/market_currents/post/37777?source=feed#comment-794283 794283 Mon, 07 Dec 2009 11:01:49 -0500 The combination of strong upside price action and continued skepticism and outright bearishness is a very bullish sign, Bernie Schaeffer, chairman of Schaeffer's Investment Research says. "People talk their positions. Until they start accepting and getting enthusiastic, it's an indication there's more money to power the market higher." http://seekingalpha.com/news/market_currents/post/37783?source=feed#comment-794272 794272
Also, market is climbing the proverbial "wall of worry"]]> Mon, 07 Dec 2009 10:59:31 -0500
Also, market is climbing the proverbial "wall of worry"]]> Tiger says I'm sorry. http://seekingalpha.com/news/market_currents/post/37510?source=feed#comment-786374 786374 Wed, 02 Dec 2009 10:33:00 -0500 Get ready for a weak-dollar world, Yale professor Jeffrey Garten warns. There's only one effective way for governments to deal with the overgrown U.S. deficit and the west-to-east shift of economic power, he says: press for a sea change in currency relationships, especially a permanently and greatly weakened dollar. http://seekingalpha.com/news/market_currents/post/37326?source=feed#comment-782638 782638 Mon, 30 Nov 2009 10:31:50 -0500 This chart explains why the U.S. dollar is effectively worthless. "The dollar in your pocket is now entirely backed only by worthless, rapidly devaluing and subsidized housing." http://seekingalpha.com/news/market_currents/post/37011?source=feed#comment-773821 773821 Mon, 23 Nov 2009 14:52:55 -0500 Emerson Electric (EMR) CEO David Farr says - pointedly - he will keep focusing on growth overseas: "Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing." The company has eliminated more than 20,000 jobs this year. "What do you think I am going to do? I’m not going to hire anybody in the United States. I’m moving." http://seekingalpha.com/news/market_currents/post/36328?source=feed#comment-755910 755910 Wed, 11 Nov 2009 15:49:14 -0500 Whatever happens on the upside, gold won't fall below $1,000/ounce again, says Marc Faber of Gloom, Boom & Doom Report: "Central banks are all the same. They are printers. Gold is maybe cheaper today than in 2001, given the interest rates." Gold now +1% to $1,113.80. http://seekingalpha.com/news/market_currents/post/36312?source=feed#comment-755708 755708 Wed, 11 Nov 2009 14:23:44 -0500 In a brief reaction to a "sobering" jobs report, President Obama said he's examining new measures to spur growth and ran off a list of five: road/bridge investment, energy retrofitting, additional tax cuts for businesses to create jobs, boosting credit to small businesses and support for exporters. http://seekingalpha.com/news/market_currents/post/36038?source=feed#comment-748215 748215 Fri, 06 Nov 2009 12:20:54 -0500 More from Geithner - no more AIGs: "Any firm that puts itself in a position where it cannot survive without special assistance from the government must face the consequences of failure. The proposed resolution authority would not authorize the government to provide open-bank assistance to any failing firm." http://seekingalpha.com/news/market_currents/post/35374?source=feed#comment-735598 735598 Thu, 29 Oct 2009 11:49:24 -0400 Lagging Segments of the Market Tell a Good Deal About the Economy http://seekingalpha.com/article/169055-lagging-segments-of-the-market-tell-a-good-deal-about-the-economy?source=feed#comment-732275 732275 Tue, 27 Oct 2009 10:36:45 -0400 Allan Meltzer in today's WSJ: "History gives many examples of countries with high actual and expected money growth, unsustainable budget deficits, and a currency expected to depreciate. Unless these countries made massive policy changes, they ended in crisis. We will escape only if we act forcefully and soon." http://seekingalpha.com/news/market_currents/post/34906?source=feed#comment-727414 727414 Fri, 23 Oct 2009 14:12:42 -0400 Commodity Futures Trading Commission chief Gary Gensler wants derivatives bills to be improved by pushing more transactions through clearinghouses - not regulating capital or business conduct. "If a large swap dealer gets into trouble, it’s not pulling and tugging at thousands of others in the system, that’s the benefit." http://seekingalpha.com/news/market_currents/post/34916?source=feed#comment-727405 727405 Fri, 23 Oct 2009 14:09:32 -0400 It's not entirely clear why Roubini's comments in Istanbul are getting so much play this morning, but here goes: "I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped." http://seekingalpha.com/news/market_currents/post/33621?source=feed#comment-703606 703606 Mon, 05 Oct 2009 10:12:41 -0400 "Floor traffic was lousy all month. Every brand, every region of the country - it was a real post-clunker hangover. It was disappointing. I expected the month to be a bit stronger, but it just wasn't." - Mark LaNeve, GM's VP of U.S. sales, after yesterday's weak September sales data http://seekingalpha.com/news/market_currents/post/33531?source=feed#comment-700557 700557
Who was left to buy after C4C? Duh!]]> Fri, 02 Oct 2009 15:01:20 -0400
Who was left to buy after C4C? Duh!]]> NAPM Chicago Business Barometer: Business activity in the U.S. Midwest failed to return to growth in September, with ISM's business barometer dropping unexpectedly to 46.1 vs. consensus of 52 after an even 50 (above 50 indicates growth) in August. New orders dipped to 46.3 from 52.5. http://seekingalpha.com/news/market_currents/post/33367?source=feed#comment-696801 696801 Wed, 30 Sep 2009 10:39:12 -0400 A 22-year-old man has received 15 months in prison and must pay back $200,073 after trying to open more than 58,000 accounts with E-Trade (ETFC), Charles Schwab (SCHW) and Google (GOOG) in the names of characters from the King of the Hill TV show (among others). The scheme was to steal the "micro-deposits," from 1 cent to $2, that firms make to test account functionality. http://seekingalpha.com/news/market_currents/post/32780?source=feed#comment-682989 682989 Fri, 18 Sep 2009 18:14:10 -0400 And Wall Street layoffs drive New York City's unemployment rate to 10.3%, vs. the national rate of 9.7%. State Labor Commissioner M. Patricia Smith: "Our economists don’t see the financial-services sector ever coming back as strong as it was." http://seekingalpha.com/news/market_currents/post/32778?source=feed#comment-682985 682985 Fri, 18 Sep 2009 18:09:07 -0400 "We decorated it in the style that Merrill Lynch offices were, which was very, very nice ... That was a mistake, and I’m sorry that I did that. If I had that to do over again, I’d furnish it in Ikea." - John Thain, former Merrill Lynch (BAC) CEO, who spent $1.2M in office redecorations in the midst of the crisis. (He says he has reimbursed the company.) http://seekingalpha.com/news/market_currents/post/32782?source=feed#comment-682981 682981 Fri, 18 Sep 2009 18:04:00 -0400 Some are taking the Lehman collapse anniversary as a time to go super-bullish. The Dow returning to 14,000, Jon Markman? "In three years? Not a problem. The signs are abundant, if you know where to look: in the corporate credit markets, in employment trends, in consumer credit trends, in government statements and in corporate revenue trends." http://seekingalpha.com/news/market_currents/post/32443?source=feed#comment-676319 676319
until it isn't]]> Mon, 14 Sep 2009 15:28:31 -0400
until it isn't]]> Alex Berenson in The New York Times sees little has changed for Wall Street in a year - minor restructuring, pay rising again - and hears from people who think lessons weren't learned, like Simon Johnson: "They will run up big risks, they will fail again, they will hit us for a big check." http://seekingalpha.com/news/market_currents/post/32371?source=feed#comment-673308 673308 Sat, 12 Sep 2009 10:24:27 -0400 FOMC minutes: Fed more confident that the downturn is ending - but the board was uncertain over the pace of a recovery that is vulnerable to shocks or reversal. Expects inflation to be subdued, and slowed its debt purchases to promote smooth market transition. http://seekingalpha.com/news/market_currents/post/31789?source=feed#comment-658754 658754
No, it slowed its debt purchases because they were no longer NEEDED now that there are finally other bidders!]]> Wed, 02 Sep 2009 14:21:18 -0400
No, it slowed its debt purchases because they were no longer NEEDED now that there are finally other bidders!]]> Southwest Airlines (LUV -0.75%) takes its first step toward ancillary fees, offering passengers who cough up $10 first dibs at seats, which Southwest doesn't assign. Unlike its rivals, LUV has eschewed fees as part of CEO Gary Kelly's policy to avoid 'nickel-and-diming' customers. http://seekingalpha.com/news/market_currents/post/31768?source=feed#comment-658374 658374
Second line is "hire lobbyists to make sure a 'passengers bill of rights' is never passed."]]> Wed, 02 Sep 2009 11:36:41 -0400
Second line is "hire lobbyists to make sure a 'passengers bill of rights' is never passed."]]> In his September Outlook, Bill Gross discusses the investment implications of the 'New Normal,' which will be characterized by slower growth and a redefined public/private partnership. Key, Gross says, is to "anticipate and, if necessary, shake hands with government policies." http://seekingalpha.com/news/market_currents/post/31662?source=feed#comment-656748 656748 Tue, 01 Sep 2009 13:30:16 -0400