Bear Bait's Comments Bear Bait's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/482640/comments Fitch cuts Illinois' credit rating to A- from A with a negative outlook, citing the state's ongoing inability to address its growing unfunded pension liability, most recently through last week's failure to pass pension reform during the state legislative session. Fitch's action gives Illinois the lowest general obligation bond rating of any of the 50 states. http://seekingalpha.com/currents/post/1061651?source=feed#comment-19576521 19576521 Mon, 03 Jun 2013 20:56:41 -0400 A new Harvard study shows that immigrants may not be as big a burden on the healthcare system as critics claim. Immigrants to the U.S., particularly those without citizenship, contributed $115.2B more to the Medicare Trust Fund during the past decade than they withdrew. The study looked at data from 2002 to 2009, showing for example that in 2009 alone, American-born citizens took $30.9B out of Medicare, while immigrants provided a surplus of $13.8B. The study concluded that policies which restrict immigration may in fact deplete Medicare’s financial resources. http://seekingalpha.com/currents/post/1055461?source=feed#comment-19431911 19431911 Thu, 30 May 2013 14:24:22 -0400 A worldwide poll of investors, analysts, and traders conducted by Bloomberg shows more than two thirds believe the U.S. economic recovery is "sustainable," while only a little over a quarter of those surveyed see a return to recession within the next two years. Key drivers of the upbeat forecast include increasing energy independence, rising home values, and "a pause in partisan budgetary battles in Washington" (there's agreement in Washington?). Housing, it seems, is the main talking point: "Anyone who isn't long real estate housing is a moron," Axiom Management's Stan Jonas is quoted as saying. http://seekingalpha.com/currents/post/1031491?source=feed#comment-18934731 18934731 Fri, 17 May 2013 07:32:44 -0400 More on General Motor's (GM) Q1: The automakers sold 2.36M vehicles during Q1, up 3.6% from a year ago. Sales in North America rose 8% to 761,616 vehicles to help offset a 6% drop in Europe to 372,634 units. The quarter included a $162M (noncash) charge for the devaluation of the Venezuelan currency. The tantalizing prospect that GM could see break-even in Europe by mid-decade as sales in China and the U.S. continue to rev up is enticing investors, GM +4.5% premarket. (PR) http://seekingalpha.com/currents/post/991151?source=feed#comment-18348901 18348901 Thu, 02 May 2013 08:48:53 -0400 Two residents of Mayflower in Arkansas have sued Exxon Mobil (XOM) for over $5M for the pipeline rupture that caused thousands of barrels of oil to spill out and damage their properties. With the Arkansas AG's office investigating the spill, the resident's lawsuit could be followed by more. http://seekingalpha.com/currents/post/929451?source=feed#comment-17317761 17317761 Sun, 07 Apr 2013 09:17:57 -0400 Eurozone composite PMI drops to 46.5 (flash 46.5) in March from 47.9 in February; services 46.4 (flash 46.5) vs 47.9. "The recession is deepening once again as businesses report that they have become increasingly worried about the region's debt crisis and political instability," says Markit. With German growth almost stalled, "the only source of bright light...has once again begun to fade." (PR) http://seekingalpha.com/currents/post/924841?source=feed#comment-17204511 17204511 Thu, 04 Apr 2013 08:20:38 -0400 Wal-Mart (WMT +0.6%) customers barrage Bloomberg News with anecdotal complaints about empty shelves and long lines after a disparaging report on the retailer was issued last week. Though the allegedly-understaffed company dismisses the development as the rumblings of a "handful of people," analysts agree the company's workforce is spread dangerously thin. http://seekingalpha.com/currents/post/921091?source=feed#comment-17126961 17126961 Tue, 02 Apr 2013 15:34:16 -0400 Car registration in France fell 16.4% in March to extend a long losing streak in the nation for the auto industry. Sales at Peugeot (PEUGF.PK) were off 23.6% on its home turf while Renault (RNSDF.PK) saw a sales drop of 8.3% compared to a year ago. http://seekingalpha.com/currents/post/919801?source=feed#comment-17102921 17102921 Tue, 02 Apr 2013 07:44:02 -0400 Canadian messengers are promoting the Keystone pipeline as in the U.S. national interest and an essential part of moving toward energy independence, but the argument is undercut if most of the oil flowing through the line would end up being exported, as seems likely. Adding to the controversy is Pres. Obama's reported remarks that the number of jobs supporters claim the pipeline will generate is exaggerated. http://seekingalpha.com/currents/post/890331?source=feed#comment-16319091 16319091 Fri, 15 Mar 2013 08:39:32 -0400 Canadian messengers are promoting the Keystone pipeline as in the U.S. national interest and an essential part of moving toward energy independence, but the argument is undercut if most of the oil flowing through the line would end up being exported, as seems likely. Adding to the controversy is Pres. Obama's reported remarks that the number of jobs supporters claim the pipeline will generate is exaggerated. http://seekingalpha.com/currents/post/890331?source=feed#comment-16303351 16303351 Thu, 14 Mar 2013 19:48:00 -0400 Those scratching their head over the euro's (FXE) January run higher need scratch no more. The common currency is off again today, now reversing all and plenty more of January's rally. Today's data - to no one's surprise - showed continuing contraction in nearly every member of the EU. The euro -0.5% to $1.2996. http://seekingalpha.com/currents/post/861681?source=feed#comment-15678621 15678621 Fri, 01 Mar 2013 08:21:07 -0500 Amid the campaign by Canadian officials to boost U.S. support for the Keystone pipeline (TRP), Gary Doer, Canada’s ambassador to Washington poses this question for the U.S.: “Do you want your oil from Hugo Chavez or do you want it from Canada?” http://seekingalpha.com/currents/post/853791?source=feed#comment-15557381 15557381 Tue, 26 Feb 2013 23:54:33 -0500 Amid the campaign by Canadian officials to boost U.S. support for the Keystone pipeline (TRP), Gary Doer, Canada’s ambassador to Washington poses this question for the U.S.: “Do you want your oil from Hugo Chavez or do you want it from Canada?” http://seekingalpha.com/currents/post/853791?source=feed#comment-15557261 15557261 Tue, 26 Feb 2013 23:48:58 -0500 The euro loses its Ifo-induced bounce after the European Commission cuts its 2013 eurozone growth forecasts and is now -0.1% vs the dollar. The EC also predicts that the recession will cause Spain, France and Portugal to miss their deficit targets, with Spain's shortfall to widen to 6.7% from 6.3% in 2012 rather than drop to the country's goal of 4.5%. (Map of country forecasts) http://seekingalpha.com/currents/post/845401?source=feed#comment-15356891 15356891 Fri, 22 Feb 2013 06:50:02 -0500 The XLP, XRT, and XLY all give up gains and turn lower following Wal-Mart sounding the warning over the effects of the payroll tax hike. It's fascinating that it took markets until just now to react to what was crystal clear 6 weeks ago. http://seekingalpha.com/currents/post/832321?source=feed#comment-15054541 15054541 Fri, 15 Feb 2013 14:50:34 -0500 General Motors (GM) will join Volkswagen, Audi, Mercedes-Benz, and BMW in fighting over the 3% of the U.S. auto market that buys diesel automobiles. A new diesel-version Chevrolet Cruze will debut at the Chicago Auto Show today with the automaker aiming to disrupt the unflattering consumer image of diesels. http://seekingalpha.com/currents/post/811701?source=feed#comment-14689371 14689371 Thu, 07 Feb 2013 08:40:04 -0500 China’s coal use grew 9% in 2011, rising to 3.8B tons, meaning the country is burning nearly as much coal as the rest of the world combined. China relies on coal to fuel nearly 80% of its power plants, vs. ~40% (and falling) in the U.S. And by 2017, India likely will become the world’s second-largest coal consumer, surpassing the U.S. The issue of climate change isn't going away any time soon. http://seekingalpha.com/currents/post/790081?source=feed#comment-14330431 14330431 Tue, 29 Jan 2013 19:22:22 -0500 Retailers in 40 different states can now charge consumers an extra 1%-4% for paying with a credit card as long as they disclose the fee. The extra fee is a byproduct of an anti-trust case settlement with MasterCard and Visa in which the credit card giants were alleged of conspiring to hold back the fees stores can charge. Retail analysts expect large companies such as Wal-Mart, Target, and Costco to refrain from tacking on the fees, but it could be open season for smaller chains and independent shops. http://seekingalpha.com/currents/post/789111?source=feed#comment-14317671 14317671 Tue, 29 Jan 2013 15:51:25 -0500 The debt ceiling fight appears to be over, with the House passing a 90-day extension on the debt-limit. The bill now moves to the Senate where it is expected to pass. http://seekingalpha.com/currents/post/776791?source=feed#comment-14055411 14055411 Wed, 23 Jan 2013 13:57:39 -0500 It's going to keep getting harder to find a cigarette in 2013 if the state legislatures across the country get their way. Higher cigarette taxes are on the docket in a number of states with traditionally high numbers of smokers. Minnesota in particular, where nearly 16% of the population still smokes, the governor is seeking to boost the state cigarette tax rate to a new rate of $2.83 per pack, a move which is being lauded across the board by anti-smoking advocates. http://seekingalpha.com/currents/post/773691?source=feed#comment-14013601 14013601 Tue, 22 Jan 2013 14:14:00 -0500 In an attempt to stir up conservatives in Congress, former Senator and now Heritage Foundation president Jim DeMint is urging Republicans to stand their ground against the President in the upcoming showdown over the debt ceiling. "The government itself is not going to shut down, DeMint says, "In fact, I don't think people are even going to notice it." http://seekingalpha.com/currents/post/771401?source=feed#comment-13913371 13913371 Sat, 19 Jan 2013 11:14:25 -0500 Saskatchewan premier Brad Wall teams with 10 U.S. state governors in a letter to Pres. Obama lobbying for the Keystone (TRP) pipeline: "U.S. imports from Canada, a democratic friend and ally, could reach 4M bbl/day by 2020, twice what is currently imported from the Persian Gulf." Notably absent from the letter were Alberta's premier and Nebraska's governor. http://seekingalpha.com/currents/post/769241?source=feed#comment-13856681 13856681 Thu, 17 Jan 2013 21:51:56 -0500 As Bank of America (BAC -5%) and Citigroup (C -3.2%) swoon following earnings, regionals reporting today fly higher: PNC +3.7%, FITB +4%, BBT +2.2%. Were their results that much better? Maybe. More likely it's a rotation out of the high-flying TBTFs into the more modestly valued regionals. The regional bank ETF (KRE) gains 1.3% vs. the XLF flat. http://seekingalpha.com/currents/post/768261?source=feed#comment-13838941 13838941 ]]> Thu, 17 Jan 2013 14:44:13 -0500 ]]> The German economy probably suffered a "significant decline" in Q4, the Economy Ministry says, with the industrial sector cutting output due to weak demand in Europe. However, the ministry expects the economy to "revive significantly" this year given the economy's underlying strength and encouraging signs in the global outlook. The euro is flat vs the dollar. http://seekingalpha.com/currents/post/756751?source=feed#comment-13580601 13580601 they don't consume!]]> Fri, 11 Jan 2013 07:57:20 -0500 they don't consume!]]> "Stocks soar on news of rapidly shrinking paychecks" is a headline you won't see today, but Nick Colas points out 79% of households make under $100K/year and are subject to the full brunt of the higher payroll tax which kicked in on Jan. 1 - removing 4% of their annual spending power. He sees it as a 50 bp drag on GDP growth in 2013. http://seekingalpha.com/currents/post/743721?source=feed#comment-13254971 13254971 Thu, 03 Jan 2013 09:35:28 -0500 U.S. stock futures join the global party after Congress just about averts the fiscal cliff, for now. However, "the excitement will evaporate, because the buildup does not include raising the debt ceiling or longer-term budget cuts," says GFT Markets' Fawad Razaqzada. Dow +1.95%, S&P +1.5%, Nasdaq +1.5%. http://seekingalpha.com/currents/post/740721?source=feed#comment-13211501 13211501 Wed, 02 Jan 2013 07:28:38 -0500 The House passes the Senate's fiscal cliff bill, 257-167. It now heads to the president for signature. (what's in the deal) http://seekingalpha.com/currents/post/740531?source=feed#comment-13202631 13202631 Tue, 01 Jan 2013 23:02:12 -0500 The fiscal cliff deal will probably ensure that the U.S. avoids recession but it will also help cut GDP growth to 1% in Q1 2013 from 3.1% Q3 2012, JPMorgan and BofA economists forecast. "It’s going to definitely present a headwind for the economy," says JPM's Michael Feroli. "We’re looking for a downdraft in growth in the first half of the year, with the economy coming back in the second." http://seekingalpha.com/currents/post/740391?source=feed#comment-13184711 13184711 Tue, 01 Jan 2013 11:40:54 -0500 The fiscal cliff deal will probably ensure that the U.S. avoids recession but it will also help cut GDP growth to 1% in Q1 2013 from 3.1% Q3 2012, JPMorgan and BofA economists forecast. "It’s going to definitely present a headwind for the economy," says JPM's Michael Feroli. "We’re looking for a downdraft in growth in the first half of the year, with the economy coming back in the second." http://seekingalpha.com/currents/post/740391?source=feed#comment-13184281 13184281 Tue, 01 Jan 2013 11:32:32 -0500 Agreement has been reached on all tax issues, says Senate Minority Leader McConnell, speaking on the Senate floor. Stocks move to session highs, the S&P 500 +1.5%. http://seekingalpha.com/currents/post/739951?source=feed#comment-13181641 13181641 Tue, 01 Jan 2013 10:26:52 -0500