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Mad_Max_A_Million

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  • Though consumer sentiment rose to its highest level in five years, don't look for retailers to start adjusting guidance anytime soon. In an interview with CNBC yesterday, AutoNation CEO Mike Jackson gave a somewhat frank assessment of how many execs are looking toward Q4 by noting the fiscal cliff could create a standstill to spending over the last ten days of the year as the automatic cuts slated for January 1 loom larger. Even if a late deal is struck, Q4 sales could take a blow. (video[View news story]
    Check your in-box November 7th. We'll find out whether I'm nipping the bottle, or you just can't pick winners or losers.
    ;-)

    Mad
    Oct 26, 2012. 02:33 PM | Likes Like |Link to Comment
  • Though consumer sentiment rose to its highest level in five years, don't look for retailers to start adjusting guidance anytime soon. In an interview with CNBC yesterday, AutoNation CEO Mike Jackson gave a somewhat frank assessment of how many execs are looking toward Q4 by noting the fiscal cliff could create a standstill to spending over the last ten days of the year as the automatic cuts slated for January 1 loom larger. Even if a late deal is struck, Q4 sales could take a blow. (video[View news story]
    Romney will put the brakes on before you reach the cliff, but there will be some challenging years ahead as it will take some time to get the two sides (socialist and conservative parties) talking to each other again.

    There will be no Sequestration if the conservatives take the Senate. If not, all bets are off because Nevada Progressive Unionist Senator Reid is a spoiler that will take us down if he remains in power after Obama is removed.
    Oct 26, 2012. 11:50 AM | Likes Like |Link to Comment
  • A potential new legal front is opened against the banks as the U.S. sues Bank of America (BAC), seeking at least $1B in damages for allegedly misrepresenting the quality of home loans it (through its Countrywide unit) sold to Fannie and Freddie. [View news story]
    Can the government sue itself for the 70 to 100 Billion in green job subsidies that it selectively gave away (lost) under the crony capitalism stimulus program?
    Oct 24, 2012. 01:43 PM | 1 Like Like |Link to Comment
  • General Motors (GM -2.7%) sees a breakthrough coming in the use of magnesium in automobiles after its engineers find a way to expand the use of the metal to new parts of vehicles. The company notes magnesium is 75% lighter than steel and has a 33% advantage over aluminum which could help the automaker improve gas mileage. Licensing options for GM's patented process to prepare the metal for automobile production could bring in extra revenue down the line. [View news story]
    According to Analyst Seton Motles, Obama has already spent 5 Billion on green-car subsides. Which means that he is using your tax dollars to subsidize his own cars. Over seven grand per Volt. Isn't that in the same category as canceling senior debt and giving the scraps left from GM 1.0 to the unions?

    Elections had consequences...
    Oct 23, 2012. 03:15 PM | 1 Like Like |Link to Comment
  • Just at the time the economy may need a boost, Australian Treasurer Wayne Swan promises significant belt-tightening in order to meet a pledge of returning the budget to surplus this year. "It means monetary policy can play the primary role managing demand," he says, giving a very clear push to the RBA to quicken the pace of rate cuts. We'll keep an eye on the aussie (FXA) this week. [View news story]
    "ensuring government payments go to those who need them most"

    Fact: When you only give free stuff to those who need it, you end up with no one left that doesn't... "Means testing" is a double-edged sword!
    Oct 21, 2012. 12:58 PM | 1 Like Like |Link to Comment
  • Twenty-five years after the October 1987 crash, could it happen again? "It's really different this time. It's much worse," Randall Forsyth writes. In 1987, all it took to ease the pressure on financial markets was to cut interest rates, and there was plenty of room to do so. But today, central bankers have run out of basis points and the eurozone status quo is untenable, meaning that fixing a crash would be a vastly bigger challenge. [View news story]
    If there is one thing that the FED has openly proven, it is that they are beholding to Wall Street and not the consumer or saver. QE will never end until they have bankrupted the latter.
    Oct 20, 2012. 11:36 AM | 2 Likes Like |Link to Comment
  • Unemployment rates dropped in seven of nine election battleground states, according to the state-by-state report for September. It's good news for Pres. Obama, but he may not be able to capitalize on it. In Ohio, the rate has recovered to 7% from 8.6% a year ago, but the Obama campaign doesn't bring up the subject because it fears the more people think about the economy, the more they will vote for Romney. [View news story]
    With massive QE under Obama, people are starting to spend money while it is still worth something. One hell of a way to destroy buying power just to win an election. Did I forget to mention the massive debt and money thrown away to green jobs just for the sake of better economic numbers? He is right not to talk about jobs. He has not created one single (net) new job.
    Oct 19, 2012. 06:38 PM | 7 Likes Like |Link to Comment
  • Ben Bernanke lights up a cigar as another favored tactic of the salad days - P-E firms paying themselves fat dividends by having their portfolio companies saddle themselves with debt - makes a big return. Some of the issuance involves another blast from the past - payment in kind bonds - essentially option-ARMs for the corporate class. [View news story]
    If Obama goes, so does "Funny-Money Ben".
    Oct 19, 2012. 01:42 PM | 1 Like Like |Link to Comment
  • More on yesterday's Goldman oil call: It includes a cool chart plotting the breakeven point on all of the planet's major oil projects. Goldman estimates the industry needs $115 oil to be cash flow neutral on its exploration vs. just $84 four years ago. "Further capex growth from current levels will likely be more constrained unless oil prices move higher." [View news story]
    In other words: Four-Dollar gas is a new floor for Regular Gasoline?
    Bernanke's Printing funny money does have it's side effects...
    Oct 19, 2012. 01:01 PM | 1 Like Like |Link to Comment
  • Initial Jobless Claims: +46K to 388K vs. 365K consensus, 342K prior (revised). Continuing claims -29K to 3.25M[View news story]
    The micro part of this debate is that mistakes will be made and numbers will reflect that. The macro part is that there were so many fools out there that actually believed (and still do) that the U3 went down to 7.8).
    Someone needs to tell them there is a real U6 number that is killing us.
    Oct 18, 2012. 09:10 AM | 1 Like Like |Link to Comment
  • Angela Merkel has softened her tone a bit with Greece, saying that while the country should keep to its agreements, the government is progressing with its reforms and should be given "another chance time and again." The eurozone is considering ways to cut Greece's debt burden, such as allowing the nation to use ESM money to buy back its deeply discounted bonds, Reuters reports. [View news story]
    Hey, the EU just won the Nobel Peace Prize. They can find a peaceful way of excusing the Greek government of most of their debt.

    But maybe they should demand that the Greeks sell a lot more of their nationalized assets (as one suggests) to pay for what they borrowed. Sort of like when we default, we can trade all our debt with china for a big chunk of our government land. The United States of Chinese America?
    Oct 14, 2012. 11:55 AM | 3 Likes Like |Link to Comment
  • Refuting the idea the declining employment-to-population ratio is a sign of a weak labor market, Scott Sumner points out the ratio was far higher in the late 70s than it was throughout the 60s - which was the stronger jobs era? The ratio has been declining since 2000, notes Sumner. Something more secular - and quite likely benign - is at work. [View news story]
    Totally agree! I should run right out and tell all the guys on my block that are unemployed not to worry - It's just a trend that the math says is not a sign of a weak labor market. Just a growing trend that a real POTUS can not change.
    Oct 12, 2012. 11:07 AM | 1 Like Like |Link to Comment
  • More on Consumer Sentiment: Stocks add slightly to gains, the Dow +0.4% in wake of the huge beat. At 83.1, it's the highest level for the gauge since September 2007. Expectations, up 6 points to 79.5, saw "by far" their best reading since the recovery began. (full report[View news story]
    Maybe the consumer gets it that we might actually replace the "campaigner in chief" with someone who can rule from the middle and get something done for a change.
    A budget would be nice instead of wild and uncontrolled spending on failing green jobs.
    Oct 12, 2012. 10:39 AM | 2 Likes Like |Link to Comment
  • "I would be buyer of the market," says Lloyd Blankfein, if Congress tomorrow could come to some sort of compromise on the fiscal cliff. Speaking on CNBC, Blankfein (a stud trader back in the day) echoes Jamie Dimon in linking recent market jitters to the looming spending cuts and tax increases. [View news story]
    Topcat: You mean the "hell bent on raising taxes" thing?

    Obama threatened to veto any extension of the Bush tax cuts if the opposition tried to cut some serious spending. Translation: Tax increase for spending cuts.
    Obama at any time could have demanded that the democrats take up a budget, as required by law. He did not. That allowed him to put over 4 Trillion dollars on a credit card. Money to throw around that we didn't have. Hope that helps.
    Oct 11, 2012. 04:20 PM | Likes Like |Link to Comment
  • "I would be buyer of the market," says Lloyd Blankfein, if Congress tomorrow could come to some sort of compromise on the fiscal cliff. Speaking on CNBC, Blankfein (a stud trader back in the day) echoes Jamie Dimon in linking recent market jitters to the looming spending cuts and tax increases. [View news story]
    He means: If only Obama wasn't so hell bent on higher taxes, more government regulation, more debt, and more spending.
    Or, if only Reid would stop fighting the House and floor a bill.
    Or, if only the Demos allowed a budget in the last 4 years.
    They seem to have learned nothing from the election 2 years ago.
    Oct 11, 2012. 01:08 PM | 2 Likes Like |Link to Comment
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