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nightfly

nightfly
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  • Did Bernanke Pull a Fast One Last Night? [View article]
    The Bernak pulled a fast one - again. It wasn't the first and won't be the last.

    Inflation will be raging before it shows up in the CPI and just like in 08, since the economy is on a low interest rate high, any interest rate increase will start to bring in down.
    Dec 6, 2010. 02:24 PM | 25 Likes Like |Link to Comment
  • President Obama makes it official, announcing a "framework" for extensions of tax cuts, unemployment benefits and estate taxes, plus a one-year payroll tax reduction. But there's a downside: no relief for the ballooning deficit - estimated $830B for extending the tax cuts, $56B for more unemployment benefits.  [View news story]
    God bless the fools who lend us money!
    Dec 6, 2010. 07:21 PM | 20 Likes Like |Link to Comment
  • Why Gold's Fall Is Not Final [View article]
    Completely agree. GLD/SLV manipulation by JPM for instance, has been well documented.

    It's not in the Fed's best interest to have gold go higher. They want dollars flowing into approved assets like real-estate and equities.
    Oct 22, 2010. 12:47 PM | 18 Likes Like |Link to Comment
  • Is it really worth thinking about a mortgage mulligan... just canceling the whole market and rebooting? Radical, yes, but radically simple - though the aftershocks of wiping out 70% of GDP might be hard to swallow.  [View news story]
    Why not? Just put it on the in-exhaustible tax-payer's tab! We're rich I tell you, rich! We have unlimited funds. Infinite isn't big enough to describe the amount of dollars we can create at will!
    Oct 18, 2010. 02:08 PM | 15 Likes Like |Link to Comment
  • Sure, taxpayers hate bailouts, whether of banks or nations, but they need to stop and consider the "costs of the panic and destruction" that would have ensued without them, James Pethokoukis argues. TARP bought U.S. banks time to raise private capital and restore confidence; the European plan "is in the same vein."  [View news story]
    Extortion plain and simple.
    May 10, 2010. 07:33 PM | 14 Likes Like |Link to Comment
  • U.S. equities remain "grossly undervalued," Forbes' Brian Wesbury and Robert Stein write, while investors wary of more government spending hold back. But they say the current level of fear about the costs of fixing entitlement problems is "out of proportion to reality."  [View news story]
    Cherry picking stats and providing a reader's digest treatment with minimal facts and scope - sounds like just another pump piece.

    I again say with amazement the amount of propaganda (election related certainly) trying to proclaim all is well: stock market? saved and strong; housing? saved and coming back; national debt? don't worry about that; pension obligations? covered; state and city financial stability? covered and/or bailed out, on and on and on.

    Do you believe it yet?
    Sep 15, 2010. 06:30 PM | 12 Likes Like |Link to Comment
  • More Evidence of a Bottom in Housing [View article]
    Oops, you failed to mention that the uptick is in multi-family dwelling/housing. Where the pain was and continues to be, SFH, starts dropped .9%.

    This isn't a good thing for housing - it just means more demand for rentals - which isn't good as rents are dropping, but at least there is demand and the builders will make sure to over-supply where ever there is demand.
    Apr 16, 2010. 11:56 AM | 12 Likes Like |Link to Comment
  • Goldman Sachs (GS -13%) responds: They plan to "vigorously contest" the SEC's "completely unfounded" civil fraud charges against it and VP Fabrice Tourre.  [View news story]
    GS just needs to buy time while it can funnel the cash to the right people to make this all go away and/or place a call to the FED and let them know who's in control and what can happen to the markets if this suit goes forward.

    Cheers to SEC for at least trying...
    Apr 16, 2010. 12:14 PM | 11 Likes Like |Link to Comment
  • Why a Market Correction Isn't Coming [View article]
    Greed and fear of "missing out" are strong emotions, especially with a fear-less market. I consider this the most dangerous market.

    It seems as everyone believes the Fed has everyone covered and the market is risk-less. Leverage is up to pre LEH levels, etc.

    I am not saying it won't continue for a bit, I am not calling a top, but I am taking profits without being greedy and hedging.
    Jan 14, 2011. 04:38 PM | 10 Likes Like |Link to Comment
  • Why a Market Correction Isn't Coming [View article]
    Articles like this from Zacks is whey I typically ignore them.

    Basically you're saying you better get in before you miss out - now that's bad advice in any market.

    You guys are just part of "the program" of the pumpers.
    Jan 14, 2011. 01:02 PM | 10 Likes Like |Link to Comment
  • The weak employment report leads to a QE III sighting. Bank of America economists Ethan Harris and Neil Dutta conclude, "the Fed will go once again," after QE II wraps up early next summer.  [View news story]
    Insane.
    Dec 3, 2010. 12:43 PM | 9 Likes Like |Link to Comment
  • The deficit commission calls for an end to tax-free status for new muni bonds - bad enough news for individual investors, who account for two-thirds of the $2.8T market, but there's some horrible timing there, Rick Stine notes: Imagine California, Illinois and Pennsylvania trying to refinance debt with paper several hundred basis points higher.  [View news story]
    Pain to the middle class is the only thing our govt knows how to inflict. The poor can't get any poorer - they'll still get their entitlements and the rich will get richer - that's guaranteed. That only leaves "the most of us" to target and take the hit.
    Dec 1, 2010. 07:18 PM | 9 Likes Like |Link to Comment
  • As new regulations push banks toward safer investments and lending practices, the middle class will suffer the most, Meredith Whitney tells CNBC. "A very large portion of the U.S. consumer base, which is really middle-class consumers... are being debanked from the system, so they're delevering," she says. "That is going to put a lot of pressure on the U.S. economy."  [View news story]
    The war against the responsible, continues. Our govt hates you if:
    -you save money
    -you aren't in debt over your eyeballs
    -are responsible in any way
    -don't take any risks

    Our govt loves you if:
    -you spend more than you make
    -you use every ounce of your credit line
    -save nothing
    -are irresponsible
    -take huge risks
    Oct 5, 2010. 10:21 AM | 9 Likes Like |Link to Comment
  • April Consumer Credit: +$1B (+0.5% annual) to $2.44T, vs. consensus -2B. Prior revised up to -$5.4B from +$2B. Non-revolving credit +$9.4B (+7.1% annual), revolving credit -$8.5B (-12% annual).  [View news story]
    OMG, from +2B to -5.4B? Somebody added instead of subtract some big numbers. I mean with that kind of revision, how useful can these numbers be?
    Jun 7, 2010. 03:41 PM | 9 Likes Like |Link to Comment
  • If you want a double-dip, go to Carvel, Daniel Gross writes. The biggest impediment to the recovery is "residual bearishness" and the resulting crisis of confidence. "Since this recovery began in the spring of 2009, it has been widely disbelieved and dismissed. Fretting about the double-dip is as much about where we've been as where we are."  [View news story]
    I just get this feeling that a lot of things are being "hidden", there's no transparency in the financials; there's been no conviction in the run-up on low low volume, just HFT chasing price; not to mention the govt led "recovery".
    Jun 3, 2010. 06:39 PM | 9 Likes Like |Link to Comment
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