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  • Ease up on the housing recovery chatter, advises Amherst's Laurie Goodman, who reminds similar calls in 2009, 2010, and 2011 all faded by the winter. Take away seasonal factors, she says, and headlines touting recovery are far more dramatic than any housing improvement. Earlier: Fannie Mae, CoreLogic[View news story]
    If and when Romney wins, the market could start smoking like a Banchee.
    And then you will hear that ugly sound no slum lord ever wants to hear:
    Why rent when you can buy. When Inflation and Bernanke funny money will make your house double in value in 8.7 years.

    Just saying...
    Oct 9, 2012. 12:49 PM | Likes Like |Link to Comment
  • Top brass in the U.K.'s governing Conservatives give a round of interviews ahead the party's annual conference this week, with David Cameron telling the BBC that Britain must find another £16B of spending cuts for 2015-16. Cameron also threatens to veto the next EU budget if it's not to his liking, and says it should be split into two - one for the eurozone and one for the other countries. (Telegraph interview; George Osborne interview[View news story]
    Thomas, you have it right. We are dealing with several new generations of folks that want their free stuff regardless of the likely outcome. And they will vote for the government that will give it to them.

    If a doctor told them that they had a terminal condition if they did not take the shock treatment needed to save them, they would go for the treatment.
    Instead the typical American would choose to go home and have fun. Party today and pay later.
    The core values of the Socialist theology (AKA Collective Salvation) says that we either all survive or we all parish together. So figure out where that will leave you. Individualism is not allowed. Re-training camps have always taken care of these misfits in former governments.
    Oct 7, 2012. 03:14 PM | 2 Likes Like |Link to Comment
  • Gasoline station owners in California are shutting down pumps amidst supply shortages (due, in part, to a number of refinery issues). Wholesale gasoline prices in Los Angeles surged $0.70 this week to a record $1.15 premium to gas futures traded at the Nymex. Costco's Simi Valley store was forced to sell premium gasoline at regular prices after running out of the cheaper fuel yesterday. [View news story]
    And they like big expensive gas guzzlers in California.
    I voted for prop 13 back in the 70s in L.A. and conveniently slipped out of the state (for good).
    Oct 4, 2012. 12:14 PM | Likes Like |Link to Comment
  • An astonishing fact about the stock market since October 2010: Out of 156 weeks, the market has suffered only seven negative Y/Y readings. Even during the seven Y/Y-down weeks, the largest negative reading was just -1.6%. "Just goes to show you how resilient and strong the market really is," Jerry Khachoyan exults. [View news story]
    Neil, I have no argument with what you say. The only tools we have to fight the dead-beats and socialists of this country is our vote and political donations, plus some lesser actions.

    After that, I have no problem with taking advantage of the ignorant Americans that over-leverage while zoning out on the Kardasians.
    I say "Good luck to those suckers". If they snooze, they lose.
    Atlas Shruggs (the movie) comes out Oct. 12. Good lesson for the feeble and slow of mind..
    Sep 29, 2012. 01:53 PM | 1 Like Like |Link to Comment
  • Chicago PMI: 49.7 vs. 53.0 expected, 53.0 prior. Employment 52.0 vs. 57.1 prior. New orders 47.4 vs. 54.8 prior. Prices paid 63.2 vs. 57.0 prior. [View news story]
    GaltMachine, if B.O. wins, you get 4 more years of QE and slap-stick comedy from the POTUS - He called himself "eye candy" on the view, according to reliable sources.

    If Mitt wins, he will try to light a fire under the economy that, if he is successful, will send inflation thru the roof.
    QE is a know time bomb that hits us when the economy starts smoking.
    So, you have to ask yourself the question, will the 47 percent moochers on the dole (no federal income taxes) all vote for their free stuff, or will sanity rule the day? If you know the answer before election day, you will do just fine.
    Sep 28, 2012. 12:31 PM | 3 Likes Like |Link to Comment
  • The U.S. wind turbine market could blow away without continuation of a politically charged tax credit, a top official of Danish turbine maker Vestas (VWDRY.PK) tells FT, warning of 75%-95% shrinkage in the U.S. market for wind power if the tax credit for wind power is allowed to expire at the end of the year. [View news story]
    Wind and Solar Subsides are the finest example of transparent crony capitalism that I've ever seen. They don't even try to hide it.

    But do not trouble yourself. Ben will print all the funny money that Big O needs to subsidize his energy bubbles.
    Sep 28, 2012. 11:48 AM | 1 Like Like |Link to Comment
  • "(QE3) is explicitly linked to what happens with the economy," says San Francisco Fed President Williams. The MBS purchases will continue or even expand to include other assets "until the job market looks substantially healthier." Sounding like he believes what he is saying, Williams calls the program an "automatic stabilizer," able to be tweaked depending on the fickle statistics-based surveys of the BLS each month. [View news story]
    Add a bag of politics to the FED. Stir well, and you get QE3 on steroids. This can't end well.
    Sep 24, 2012. 04:05 PM | 4 Likes Like |Link to Comment
  • Contrary to what the Presidential candidates have been saying, Cornell's Robert Frank says, "the nation doesn’t actually face difficult economic choices." Inter alia, Frank advocates spending money to repair crumbling infrastructure and so create jobs, and "replacing the current income tax with a more steeply progressive consumption tax, making big-ticket spending much more expensive." [View news story]
    designshoe: have you done any homework on this?
    Cities are declaring bankruptcy and canceling union contracts thru the courts.
    Then they do not have to lay off that many police/firemen.
    Unions get extreme salaries and pensions reduced to where they should have been before they bankrupted the city.
    Sep 23, 2012. 01:20 PM | 2 Likes Like |Link to Comment
  • Former Clinton economic adviser Laura D’Andrea Tyson describes how the "vicious circle" of income inequality leads to educational inequality, which then perpetuates the wealth gaps in the U.S. Tyson also notes how poverty is much higher in single-parent families than in those with married parents. But while she wants to increase taxes for the rich and pour money into education, she stops short of advocating policies to strengthen marriage. [View news story]
    You are all aware that B.O. wants to increase taxes by letting Bush tax cuts expire. so he can fund more Solyndra devestments. But did you know that had he been allowed to do that, the lower 10 percent rate would go from 10 to 15 percent.
    While the highest rate would go from 35 to 40 percent.
    What that means is that the middle class rate would rise 50 percent.
    The upper class rate would only rise 14 percent.
    Presto - You been lied to by the lefties. The Bush tax cuts benefited the middle class, not the so called rich. GW actually narrowed the income gap.
    Sep 23, 2012. 12:58 PM | 4 Likes Like |Link to Comment
  • Quantitative easing will do little to boost the U.S. economy, says economist Joseph Stiglitz. Instead, it risks triggering currency and trade wars that will leave the world worse off. Rather than unilateral action, the world needs a “growth compact” aimed at spurring economic expansion around the world. He had hoped that G20 leaders would have started addressing the topic at the summit in Seoul, but now he feels the meeting will be spent dealing with the unintended consequences of the Fed’s action. [View news story]
    I see two scenarios. If Obama wins at the hands of the 47 percent on the dole, I would assume that B.O. walks off the campaign trail and onto the golf course and refuses to sign any tax abatement bills that the conservatives are fighting for. Thus you get a big negative jolt in the market as everyone rushes for their 2012 tax rates.
    Black December!
    If Mitt wins, there is enough breathing room to get us quietly into 2013.
    Sep 22, 2012. 11:59 AM | 3 Likes Like |Link to Comment
  • Microsoft (MSFT) is accusing 4 state-owned Chinese firms of using pirated copies of its software, and has asked the government to put an end to it. 84% of China Railway Construction's copies of Office are unlicensed, Microsoft alleges, as are 97% of its Windows Server copies. Rampant piracy has made it hard for Microsoft to profit from China, now the world's biggest PC market. The Business Software Alliance claims China's illegal software market is 3x the size of its legal software market. [View news story]
    Right, Tom. MS had to know they were crawling into bed with a bunch of master pirate junkies when they threw in with China.
    Sep 21, 2012. 02:43 PM | Likes Like |Link to Comment
  • More from Brazil's Mantega: He says the Fed with QE∞ has revived the currency wars, with Japan's expansion of its own asset-purchase program the first shot fired back. The U.S. already has all the liquidity it needs, he says, meaning the Fed's efforts are meant to weaken the dollar and boost exports. "It has to be understood, there are consequences." [View news story]
    Paper hanging (Phony money creation) is that hidden tax used to fleece the public without ever having to say they raised your taxes. No jail time for theft. Plenty of money to spend bailing out their favorite banks.
    It's all legal. Now get back to work. The Republic needs the rest of your tax revenue.
    Sep 20, 2012. 04:19 PM | 3 Likes Like |Link to Comment
  • If we keep pointing this stuff out, the Fed Chairman may never stop. Oil and the euro have retraced all of their post-QE announcement gains, but equities continue higher. Earlier: Treasury yields have retraced as well. [View news story]
    "Congress and their uber wealthy constituents"

    And we thought this was all about a self-professed Income Re-distributionist POTUS that poll-vaulted in with ObamaCare, record welfare rolls, unemployment, massive deficits, green company losses, Union give-aways, and enough QE to send Gold and Oil prices thru the roof.

    Otherwise, Excellent analogy...
    Sep 20, 2012. 02:22 PM | 1 Like Like |Link to Comment
  • QE3 is just plain wrong.
    Sep 13, 2012. 12:29 PM | Likes Like |Link to Comment
  • After a 72% Y/Y rise in the XHB, the housing recovery rates the cover at Barron's. "We're in the early stages," says Lennar (LEN) President Rick Beckwith. The industry could triple in size to 1.8M housing starts in the next 3-4 years, says Ivy Zelman, who thinks Lennar could earn $5.30/share in FY15 vs. $0.48 last year. A more speculative play is Beazer (BZH), which isn't yet profitable, but has eased short-term liquidity fears with recent capital raises. [View news story]
    bbro: Silly me- Thought it was a war between private enterprise / self-reliance and pure socialist-style income redistribution and massive unionization.
    Sep 8, 2012. 11:55 AM | 6 Likes Like |Link to Comment