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2MuchDebt

2MuchDebt
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  • More on Nonfarm Payrolls: The +171K October print is accompanied by big revisions higher to September (+34K to 148K) and August (+50K to 192K). Average workweek didn't budge, remaining at 34.4 hours for the 4th straight month. Average hourly earnings down $0.01 to $23.58, +1.6% Y/Y. Thus far in 2012, employment growth has averaged 157K/month, up a hair from 153K in 2011. [View news story]
    bbro: so there's no recession? (btw this is sarcasm). You include this phrase in almost every post. Who are you trying to convince? You're certainly not a genius for making such a post...
    Nov 2, 2012. 09:01 AM | Likes Like |Link to Comment
  • Initial Jobless Claims: -9K to 363K vs. 369K consensus, 369K prior. Continuing claims +4K to 3.26M. [View news story]
    And once the U.S. economy heads south again (eventually it will happen), monetary and fiscal policy will be all out of dry powder.
    Nov 1, 2012. 10:54 AM | Likes Like |Link to Comment
  • Apple (AAPL +0.6%) estimates were lowered today in response to Tim Cook's iPad comments and worries about iPhone 5 supply issues. But with shares now at 11x FY12E EPS (exc. cash), these concerns might be baked in ahead of tomorrow's report. The iPad Mini's pricing is yielding plenty of debate. Nomura: "A 65% price premium ($129) is significant and ... allows for Amazon and Google to continue to build out their positions." Baird: "Though priced above [rivals], the device is thinner, lighter, boasts a bigger screen and better cameras, and ... much wider app selection." [View news story]
    Apple's TTM P/E valuation hasn't changed much over at least the last year (currently at 14.4). With the amount of coverage Apple receives, why would you think Apple's stock is "on sale"? I don't think such a large valuation differential would exist that long and yet so many small investors tout Apple as a screaming buy on a daily basis. What do you think is an appropriate TTM or forward P/E valuation?
    Oct 25, 2012. 12:33 PM | Likes Like |Link to Comment
  • On the hour: Dow -1.1%. 10-yr +0.33%. Euro -0.35% vs. dollar. Crude -1.2% to $91.42. Gold -1.43% to $1719.75. [View news story]
    Quick: buy Apple...
    Oct 19, 2012. 12:05 PM | Likes Like |Link to Comment
  • More on Windows 8: 1) A recent Forrester survey adds to fears of poor enterprise adoption. Only 1/3 of respondents said they expect/plan to use Windows 8, compared with 2/3 who said the same about Windows 7 in '09. 2) Shipping times for the $499 Windows RT Microsoft Surface model have risen - Microsoft reportedly ordered 3M-5M Surface units for Q4. 3) Windows RT and its pre-installed apps consume 12GB of storage (12x more than iOS). [View news story]
    I hear you on #3 in principle, but who cares about an extra 11GB of used storage when standard hard drives now store 500GB at the low end and up to 2T on the high end. Windows 8 only consumes an extra 2.2% of hard drive space on the low end and 0.55% on the high end. System performance/features matters more.
    Oct 17, 2012. 12:48 PM | Likes Like |Link to Comment
  • Spain could ask for a bailout in November, Reuters reports, adding that any request would be dealt with at the same time as a new debt program for Greece and a rescue of Cyprus. The report follows the ECB's Benoit Coeure saying on Friday that the bank could buy Spanish bonds even without the involvement of the ESM if Spain signs an MOU on the conditions for aid. [View news story]
    These guys are creative!
    Oct 15, 2012. 09:11 AM | Likes Like |Link to Comment
  • The Fed will not respond in a "hasty manner" to good news on growth, says FRBNY President Dudley, reiterating the central bank's intention to continue with QE and ZIRP even after the economy picks up. As for the puny yields at the long end of the Treasury curve, they're not a bubble, he says. Feel better? [View news story]
    Comical commentary from Dudley. The Fed is loosing credibility in my mind.
    Oct 15, 2012. 09:09 AM | Likes Like |Link to Comment
  • In his first public speech since joining the central bank in May, Fed Governor Jeremy Stein (a FOMC voter) throws his full support behind QE. Worth keeping an eye on as he's likely to be a candidate to replace the chairman (should the President win reelection), Stein - like Bernanke - considers rising stock prices a sort of unofficial 3rd mandate of the Fed. [View news story]
    Nothing short of ludicrous
    Oct 11, 2012. 11:52 AM | Likes Like |Link to Comment
  • Greece has until the end of November before its money runs out unless it receives the next tranche of its bailout, PM Antonis Samaras tells German newspaper Handelsblatt. Touching a German nerve by comparing Greece to the Weimar Republic, Samaras says the ECB could assist by accepting lower interest rates on its Greek debt and roll them over, while the ESM could be used to recapitalize the country's banks. [View news story]
    Money well spent. I'd rather have a big bonfire with $100 bills.
    Oct 5, 2012. 08:06 AM | Likes Like |Link to Comment
  • Though September's auto sales came in a bit on the sluggish side for GM and Ford, analysts still see the annualized rate of 14.9M as a bright spot in the economy. Moody's Mark Zandi notes the overall economic recovery would be "much weaker" without auto sales charging hard. [View news story]
    Depends on who's buying the automobiles; government or consumer. Also, the credit strength of the purchaser is important as well.
    Oct 3, 2012. 08:27 AM | Likes Like |Link to Comment
  • The Troika has rejected as much as €2B in budget cuts and tax reforms proposed by the Greek government, according to a finance ministry official. "The creditors are fed up with empty promises," says an official close to the Troika. "This time around the cost-cutting must be solid and proven." [View news story]
    "This time around the cost-cutting must be solid and proven." Lol. So before it didn't.
    Oct 2, 2012. 11:11 AM | Likes Like |Link to Comment
  • August Durable Goods: -13.2% vs. -5.0% expected, +3.3% prior (revised). Ex-transport -1.6% vs. +0.2% expected, -1.3% prior (revised). [View news story]
    Haha, good one.
    Sep 27, 2012. 09:41 AM | Likes Like |Link to Comment
  • Netflix (NFLX) CEO Reed Hastings says Europe will be a major focus of the company over the next two to three years as he sees the company's streaming service eventually landing in nearly every nation on the planet with the possible exception of the always-problematic China. He takes on the threat of Amazon head on, noting that Netflix spends 3X what Amazon does on content to the benefit of customers and calling Amazon Prime a "confusing mess" with an algorithm that isn't as clever as that of Netflix. [View news story]
    Thanks for the post. A lot of good info.
    Sep 26, 2012. 08:22 AM | Likes Like |Link to Comment
  • Spanish austerity measures coming Thursday will include restrictions on early retirement, PM Mariano Rajoy tells the WSJ, and a new tax authority - including taxes on stock transactions? - as well as job-training programs. They'll still resist a bailout, but if debt interest rates were "too high for too long" the chances of a bailout rise to "100%." [View news story]
    I have to hand it to you Terry330. No one likes you or your asinine comments on this site and yet you still post something almost every day.
    Sep 26, 2012. 08:18 AM | Likes Like |Link to Comment
  • Netflix (NFLX) CEO Reed Hastings says Europe will be a major focus of the company over the next two to three years as he sees the company's streaming service eventually landing in nearly every nation on the planet with the possible exception of the always-problematic China. He takes on the threat of Amazon head on, noting that Netflix spends 3X what Amazon does on content to the benefit of customers and calling Amazon Prime a "confusing mess" with an algorithm that isn't as clever as that of Netflix. [View news story]
    Tough words from Reed. Anybody correct me if I'm wrong or chime in, but isn't Amazon Prime cheaper and doesn't it have a better/larger selection?
    Sep 26, 2012. 08:15 AM | Likes Like |Link to Comment
COMMENTS STATS
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