BofA’s Moynihan: There’s No Magic Bullet for US Economy
Bank of America CEO Brian Moynihan sees nothing flashy in the comeback of the American economy — just a slow and steady slog that will continue.
Moynihan told The Globe and Mail he still observes an abundance of caution among the bank’s clients, both business owners and entrepreneurs, despite it being five years since the 2008 financial crisis.
“They are pretty conservative right now [...]
S&P 500 runs triple-dip risk
The stock market hasn’t been this carefree since early 2007. Should we be worried about that?
As the S&P 500 Index moves toward an all-time high and volatility sits at multiyear lows, investors should remember we’ve been here twice before, with the index just below 1,600 both in 2000 and 2007 only for it to take a dive soon after.
So is a third dip on the horizon? [...]
Stocks opened higher Tuesday, with the Dow Jones Industrial Average topping its all-time high, boosted by upbeat economic data from Europe and as China pledged to meet its growth targets.
Dow Jones Opens At All-Time Highs
On October 11th 2007, the ‘old’ Dow Jones Industrial Average reached its previous all-time high of 14,198.10 (with the all-time closing high of 14,164.5 on October 9th) as plans for the MLEC were rumored to save [...]
Detroit Mayor Dave Bing says he spoke by phone with Michigan Governor Rick Snyder today. He says the governor will announce his decision regarding the possible appointment of an Emergency Financial Manager for the city of Detroit on Friday.
The mayor said, “Everybody’s got a pretty good idea of what the announcement is going to be.”
Usually, when the administration needs a distraction from just how broke and insolvent in reality the [...]
The middle class in America is being systematically destroyed. Once upon a time the United States had the largest and most vibrant middle class in the history of the world. The rest of the globe looked at us in envy and wondered what we were doing right. But now everything seems to be going wrong for the middle class. Millions of our jobs have been shipped out of the [...]
From Zero Hedge:
The following chart from Bank of America shows that with a few short hours ahead of the dangling strawman known as Bernanke’s Jackson Hole address (now that Mario Draghi has more pressing issues to deal with elsewhere), expectations for QE3, in the form of what is actually priced in, just hit an all-time high.
So is, by implication, the potential for disappointment and that the petulant market, no longer [...]
Corn prices continue to rise. At $8.30 per bushel, it is near an all-time high.
Following a weak USDA crop report, prices briefly surged north of $8.40.
Prices have been elevated as one of the worst droughts in history have caused crop yields to fall.
Read more: http://www.businessinsider.com/corn-prices-23-2012-8#ixzz24Mic9842
June 13, 2012 – JAPAN - At this moment, people in Osaka and Kobe are tweeting the color of Osaka bay looks strange. From the picture, it looks pale yellow. One follower on the site tweeted: “Moving from parents house to Mikage. Osaka bay looked yellowish when I saw from an eminence. Am afraid it’s a sign.” From local citizens, it became strange color before the great Hanshin earthquake (1995) as well. They might [...]
Uploaded by MaxKeiserTV on Mar 3, 2012
The eurozone’s January unemployment rate has hit an all-time high, leaving a record number of people jobless.
Press TV has conducted an interview with Max Keiser, a journalist and broadcaster in Paris, to further discuss the issue.
SocGen has put out a big special report titled: QE3 delayed, but still likely.
Their high level overview of where things stand right now looks like this:
QE3 has been delayed by the recent bout of good news from the US economy: SG is now in line with the consensus, expecting the launch in Q2 (24-25 April FOMC meeting).
As the $400bn Operation Twist program is still boosting demand for long-dated US Treasuries, we [...]
by Dr. Housing Buuble
With the Federal Reserve promising to bailout the entire world it is hard to grab any headlines away from that kind of action. In spite of putting the American taxpayer at risk for global debt issues especially when we have big enough problems at home we have now reached an all-time high with foreclosure inventories. That is correct, the shadow inventory is still enormous and the number of homes owned by [...]
With gold trading at $1,800 and silver above $35, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management to get his take on where he sees gold, silver, the US dollar and the mining shares headed. When asked about the action in gold and silver, Embry responded, “The recent low on gold (at $1,530) was contrived. If I would have asked [...]
by JOHN RUBINO on JULY 11, 2011
Once upon a time, gold and stocks were thought to be inversely correlated. That is, when the market went up, gold would go down, and when the market was down, gold would go up as investors abandoned risky assets for the safety of sound money. Put another way, stocks were for “normal” times and gold was something you owned as protection against [...]
In 1997, home prices in Hong Kong were in its final run-up to the all-time high which were unmatched even today.Â Then it crashed as the aftermath of the Asian Financial Crisis.
Centa-city Leading Index, showing home prices from 1997 to 2004, Source: Centaline
Home Prices in Hong Kong dropped 60-70%? over that 6-year period after the Asian Financial Crisis.Â Although there were some growth in some of [...]
This morning, I watched the Dow Jones climb into positive territory for about an hour before it slid back down into the negative, even after reports of billions of dollars in merger acquisitions were made public. Such good news should have bolstered the markets, right? Well, it didnâ€™t work out that way and I seriously doubt it will work out that way any time soon. There seems to be no [...]