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OptionManiac

OptionManiac
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  • More of the same from the Fed Flow of Funds report (.pdf): Households cut their debt in the first quarter for the eighth quarter in a row, raising net worth at an annualized 8% to $54.6T - still down $11.4T from an early-2007 peak. Total debt rose 3.5%. Mortgage debt fell a record 3.8%.  [View news story]
    Does that net worth include the value of homes?
    Jun 10, 2010. 01:06 PM | 1 Like Like |Link to Comment
  • The International Energy Agency raises its 2010 world oil-demand forecast to 86.4M barrels a day but warns that up to 300K barrels a day of future U.S. output may be at risk if a drilling moratorium is extended. The Gulf oil spill will raise costs, delay new projects and bring a thorough review of offshore regulation, the IEA says. Oil +1.6%.  [View news story]
    Ah, the standard of living and economy has just been sapped by drilling. That said, I am not against drilling, I'm against drillers who strive for profit over safety. If you look at the events that led up to the blow-out, you will see that BP seemed not to care that the blow-out preventer was essentially in-operable. And I do not just blame BP, but also government regulators that were bought by the oil industry, who let the drillers themselves write off on inspections.
    Hey, with a billion more Chinese and a billion more Indians wanting our way of life, no amount of drilling will keep energy prices down. We are in between a rock and a hard place - keep the world wide depression going to keep energy prices down, or full steam ahead and buy plenty of oil stocks so the dividends can help fill your tank.
    Jun 10, 2010. 11:16 AM | Likes Like |Link to Comment
  • The International Energy Agency raises its 2010 world oil-demand forecast to 86.4M barrels a day but warns that up to 300K barrels a day of future U.S. output may be at risk if a drilling moratorium is extended. The Gulf oil spill will raise costs, delay new projects and bring a thorough review of offshore regulation, the IEA says. Oil +1.6%.  [View news story]
    You're right, fisherman are not out of work, tourism is just fine in the gulf, Obama is just making all that up to push his agenda. Poor planning and shoddy production protocols has nothing to do with all this, it is all political. Everything would be just fine if we only let the oil companies do things their way.
    Jun 10, 2010. 10:31 AM | Likes Like |Link to Comment
  • Caterpillar (CAT) legs up again, now +3.4%, as it raises its quarterly dividend 5% to $0.44. It's paid a dividend every year since 1925, and the dividend has nearly tripled since 1998.  [View news story]
    To reduce the overtime.
    Jun 9, 2010. 02:06 PM | Likes Like |Link to Comment
  • Caterpillar (CAT) legs up again, now +3.4%, as it raises its quarterly dividend 5% to $0.44. It's paid a dividend every year since 1925, and the dividend has nearly tripled since 1998.  [View news story]
    Agreed. Instead of hoarding cash hire someone.
    Jun 9, 2010. 12:52 PM | 1 Like Like |Link to Comment
  • Caterpillar (CAT) legs up again, now +3.4%, as it raises its quarterly dividend 5% to $0.44. It's paid a dividend every year since 1925, and the dividend has nearly tripled since 1998.  [View news story]
    CAT certianly isn't afraid of the future.
    Jun 9, 2010. 11:42 AM | Likes Like |Link to Comment
  • Chinese exports in May grew about 50% from a year earlier, reports say, crushing expectations of a 32% jump. The Shanghai stock index surges nearly 3%, as the strong export growth reassures investors worried about a potential slide in China's economy. But it's not all good news for Chinese manufacturing, as labor protests spread.  [View news story]
    Looking at year to year retail sales, I would not say it is the American consumer fueling the increase. If American businesses are doing the buying, well, they are flush with cash.
    Jun 9, 2010. 11:41 AM | Likes Like |Link to Comment
  • Testy Tuesday: Gentle Ben vs. Reality [View article]
    I have no doubt that WW2 put people to work and ended the depression. The GI bell was a nice touch at the end - educate the next wave of workers for utilizing the leap in technology, spurred by finding new ways to beat the enemy. And after the war we had the Marshall Plan - we helped dig Europe out of the rubble we helped create.
    Could pulling out of a depression be done without a war? Or is a global war the only way we can put massive amounts of people to work - use and blow up commodities so people have nothing to spend on so inflation is kept low - and nobody bitches about the government because we are all in this together.
    Any good comments can share in the Nobel prise for economics with me.
    Jun 9, 2010. 09:53 AM | 1 Like Like |Link to Comment
  • Testy Tuesday: Gentle Ben vs. Reality [View article]
    "we were heading into another disaster UNTIL WWII kicked off our manufacturing and sent 20M unemployed people overseas, where they sent their paychecks home"

    Now this is interesting. The US government paid millions of people to either manufacture widgets that blew up other widgets or were blown by foreign widgets. All these widgets consumed so much raw material that the workers who had the money couldn't spend it because of rationing. Millions of other Americans were paid by the US government to blow up other countries' widgets and widget makers. The government went deeply in debt by not only manufacturing nothing consumable, but by also blowing up consumables. Yet this led us out of the depression?
    Jun 9, 2010. 08:00 AM | 2 Likes Like |Link to Comment
  • The Obama administration will reopen shallow-water drilling after expediting new safety rules that could come today. Some offshore permits were canceled last week and others have been on hold since early May, and industry trade groups fear job losses of more than 40,000.  [View news story]
    How many jobs have been lost because of the leak?
    Jun 8, 2010. 11:34 AM | 1 Like Like |Link to Comment
  • Fed Governor Elizabeth Duke says new rules aimed at protecting consumers from taking risky loans are necessary but will cut into bank profitability. The changes reduce the ability to build profitability models around penalty pricing such as overdraft fees or raising rates on existing credit card balances."  [View news story]
    Not too much debt, just shady loans. Not that I think it would work. Oh, and without these safegaurds, the bank's profits were just great, right? (Until bailout and free money).
    Jun 8, 2010. 10:03 AM | 1 Like Like |Link to Comment
  • The "pickup truck indicator" is way up, a sign of economic strength, says AutoNation CEO Mike Jackson. "Pickup trucks are bought by small business entrepreneurs who have their finger on the pulse of the U.S. economy... They don't buy until they see the prospects for business are brighter."  [View news story]
    My lab tech (who fits none of the above truck buyer decriptions above, including mine) bought a Toyota PU for around $16,000.
    Jun 3, 2010. 02:39 PM | 3 Likes Like |Link to Comment
  • At least one technician says "We're not ready to give up on the bull market" - noting, for one thing, that the small-cap Russell 2000 bounced off its 200-day moving average without heading lower, unlike the S&P 500.  [View news story]
    Market moves on psychology, not on which way the curve is moving.
    Jun 3, 2010. 02:10 PM | 1 Like Like |Link to Comment
  • Cash heads for the exits from stock funds after steady inflows in March and April. In the week ending May 26, U.S.-focused funds saw outflows of $13.4B (and $3.9B from international funds), the biggest outflows since March 11, 2009.  [View news story]
    Exactly.
    Jun 3, 2010. 02:09 PM | Likes Like |Link to Comment
  • The "pickup truck indicator" is way up, a sign of economic strength, says AutoNation CEO Mike Jackson. "Pickup trucks are bought by small business entrepreneurs who have their finger on the pulse of the U.S. economy... They don't buy until they see the prospects for business are brighter."  [View news story]
    Or old farts who have retired and always wanted to tool around in a pickup truck. Gas not a problem, no real important place to go.
    Jun 3, 2010. 02:07 PM | 3 Likes Like |Link to Comment
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