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US PMI COMES IN JUST ABOVE EXPECTATIONS AT 52.1 Markit’s April U.S. manufacturing PMI survey results are out.
The headline index came in at 52.1, slightly above the flash estimate of 52.0 published earlier this month, but down from March’s 54.6 reading. Any reading above 50 on the index signals expansion, so the 52.1 reading in today’s release suggests that American manufacturing is still expanding, but at a markedly slower pace than in March. The new [...] Alex Conant @AlexConant: “We haven’t had a cohort of people living permanently in US without full rights of citizenship since slavery”. Mind you, he isn’t talking only about illegal immigrants. He’s talking about any non-citizen who lives in this country permanently, including millions of Green Card holders. And by implication: Conn Carroll @conncarroll: For those of you keeping score at home, Rubio spokesman @AlexConant just compared all Schumer-Rubio opponents to slave owners If this [...] Duke University study says 45 per cent of billionaires are in top one per cent for cognitive ability The success of billionaires may be down to more than just hard work and good luck – they may also be smarter than most, according to a study. About 45 per cent of billionaires are in the top one per cent for brainpower, says Jonathan Wai of Duke University. He says that the top one [...] Matina Stevis‏@MatinaStevis2 min #Cyprus financial system goes into lockdown zerohedge‏@zerohedge8 min zerohedge‏@zerohedge22 min http://www.zerohedge.com/news/2013-03-21/eu-call-begins-pushing-stocks-lows-vix-over-14 zerohedge‏@zerohedge3 min zerohedge‏@zerohedge2 min http://www.zerohedge.com/news/2013-03-21/jokes-cyprus-after-all
Time is running out: EU gives Cyprus bailout ultimatum, risks euro exit http://www.reuters.com/article/2013/03/21/us-cyprus-parliament-idUSBRE92G03I20130321 REPORT: Major Cyprus Bank Has Only A Few Hours Of Liquidity Left, And Is Limiting Cash Withdrawals Not good. http://www.businessinsider.com/cyprus-popular-has-few-hours-of-liquidity-2013-3 The Cypriot [...] from Zerohedge: As ZD reports, last night Anonymous once again hacked a .gov site, this time the Alabama Criminal Justice Information Center (ACJIC). But it was not the site hacked that was material, but rather what was posted on it. What was posted is an extended data dump sheet, titled “oops we did it again” which lists some 4,606 rows of confidential credential data including titles, names, addresses, emails, phone numbers, logins, [...] By Tyler Durden After more than two months of political grandstanding, finally the $60 billion pork-laden Sandy relief aid bill has passed through the House in a 241-180 vote (with 1 democrat and 179 republicans voting no), with the vote passing courtesy of just 49 republicans who voted with the democrats. The reminder objected in protest “against a bill that many conservatives say is too big and provides funding for things other [...] zerohedge.com To all Americans in their twenties, thirties, forties, or even fifties, naively looking forward to their retirement, we have two words: “good luck.” One look at the flow chart below and we can’t help but wonder: just how many Americans actually follow the “plan” of what they should do to prepare for retirement. A million? Two? Less? And how soon before the government decides it knows what’s best for [...]  No vote in the House tonight, for sure, so technically we are going to hit The Fiscal Cliff. That doesn’t mean that there isn’t almost a deal done. Voting tomorrow or the next day might help the GOP at the margins, so it can claim it never voted to raise taxes. Read more: http://www.businessinsider.com/technically-we-are-going-to-hit-the-fiscal-cliff-2012-12#ixzz2GfTZreJl US officially hits debt ceiling, Treasury Secretary Timothy Geithner says http://www.washingtonpost.com/blogs/post-politics/wp/2012/12/31/u-s-officially-hits-debt-ceiling/
BREAKING REPORT: House Won’t Take Cliff Vote On Monday The U.S. House of [...] You know it’s coming, and our kids will be the ones to pay the price for it. I stood in line Tuesday and listened to several people talk about why they were voting for one candidate or another. 1. Obama – Gotta vote for my boy (yes a black woman) 2. My friend told me to vote this way. 3. My parents told me to vote this way. 4. The media says Romney will overturn [...] Mac Slavo
Well, we’re here. Election night 2012 – arguably “the most important election of our lifetime,” as many pundits would say. There’s nothing we can write, no argument we can make… It’s in the hands of the American people now (or the attorneys and the courts tomorrow). You can follow the election Live on any of your favorite mainstream channels. For those interested in some alternative viewpoints, tune in live to Infowars 2012 [...] File Bankruptcy while you can If you owe money and cannot pay off your debts, file bankruptcy ASAP as it seems the laws are changing. For more details (must) see this video: Good luck all! United States of America NWS and NOAA officials warn, Climate Drought Exceeding Predictions Through 2013. Are ‘you and your loved ones’ going to survive a 53% food and water shortage between August 2012 and beyond January 2013? The answer is not “No,” but “Hell, No!” With a 53% shortage in ‘all food, dairy and water’, which this drought is currently doing through the 1st Quarter of 2013, the ‘retail cost’ will in-fact jump [...] From The Big Picture: I was going to write something smart and pithy about this recent market decline, but then I realized that I’ve written about this in the past. So here is an excerpt from the Little Book of Sideways Markets. In addition, you can see a copy of the presentation about sideways markets. – Enjoy. Secular sideways markets are comprised of many cyclical bull and bear markets. Though cyclical bull and [...] A shipping line in the United Arab Emirates, plus 57 individual crude oil tankers and similar vessels, were identified Thursday by the US Department of the Treasury as being affiliated with the government of Iran. Treasury said the vessels were renamed to hide their affiliation with the already sanctioned Islamic Republic of Iran Shipping Line. The UAE-based company, Good Luck Shipping, was named “because it acts or purports to act for [...] In a meaningless “test” of investor appetite for Spain’s Thursday issuance of 2, 3 and 5 years bonds, Spain today sold €3.04 billion in 12 and 18 month bills, well inside the LTRO maturity, and completely meaningless from a risk perspective – after all even Greece is issuing Bills. Yet for some reason the market which continues to be dumber by the day, somehow took the “successful” auction as an [...] via Reuters: Greece made a last-minute decision on Tuesday to pay bondholders who refused to accept a debt restructuring, a move that may set a precedent and infuriate creditors who accepted just cents on the euro for their investment in a historic bond swap. In an about-face, Greece opted to pay holders of 430 million euros ($552 million) of a May 15 bond, despite having told those who took its bond swap [...] We wish to welcome former LTCM trader, and current TBAC chairman, Matt Zames to his new post as head of the world’s biggest, government backstopped prop trading desk, with a hearty and sincere “good luck.” Because an ex-LTCMer in charge of ~$70 trillion in derivatives? Why, what can possibly go wrong… Well, maybe this? Finally, we urge readers to go easy on the JPM HR department: obviously all the JT Marlin traders were currently [...] We wish to welcome former LTCM trader, and current TBAC chairman, Matt Zames to his new post as head of the world’s biggest, government backstopped prop trading desk, with a hearty and sincere “good luck.” Because an ex-LTCMer in charge of ~$70 trillion in derivatives? Why, what can possibly go wrong… Well, maybe this? Finally, we urge readers to go easy on the JPM HR department: obviously all the JT Marlin traders were currently [...] From The Stock Sage: Did you guys hear that being contrarian is the cool thing these days? Everyone wants to be a contrarian and “fade the herd”. We all know the axioms about crowds being wrong and fading the dumb money etc. etc. The problem is that all this fading has gotten to such an extreme that I have begun to joke about “fading the fading faders”. In all seriousness, a [...] Most of our lawmakers have never run a business or hired people. Their idea of creating jobs is to self-expand and create economic bubbles destined to burst sooner or later. Borrowing and spending on government programs is anti-capitalist and a sure recipe for disaster. We’re becoming the entitlement society. When I immigrated to this country some 28 years ago, I never had much and didn’t turn to anyone for help. It [...] Verizon is the only company right now not charging for this. If I recall correctly, AT&T charges $36 and T-Mobile $18. NEW YORK (CNNMoney) — Thinking of upgrading your phone with Verizon? Better do it fast. On April 22, Verizon Wireless will institute a $30 upgrade fee for existing customers who purchase new phones with a two-year contract. The fee would hit any Verizon customer signing up for a new two-year plan and receiving a [...] If you’re lucky enough to have a job right now, you’re probably doing everything possible to hold onto it. If the boss asks you to work 50 hours, you work 55. If she asks for 60, you give up weeknights and Saturdays, and work 65. Odds are that you’ve been doing this for months, if not years, probably at the expense of your family life, your exercise routine, your diet, your [...] The majority is generated through bloated overpriced services. I don’t understand how healthcare services can add to GDP when the money needed to pay for it must be removed from the economy first. We have reached trillions per year fed into the economy through debt that winds up being leveraged 100:1 to prop up the world economy. How much of the world economy is truly real??? If there is only something like [...] by ZH Those who actually recall the nuances of the endless Greek bailout may remember that at one point in 2010 and 2011, one of the main sticking points that threatened to derail the Greek bailout was the demand by Finland to collateralize its contribution to the Greek bailout package. Well, guess what: it’s back. Kathimerini reports that “Finland may sign a deal on securing collateral in exchange for its commitment to Greece’s [...] |
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ZERVOS: The Market Is Only Falling Because It’s Twisted, And People Deserve To Get Tortured
Some LOL commentary from David Zervos at Jefferies.
Spain is not going to destroy the global financial system. That is almost as preposterous as commentators claiming that Charlie Plosser just caused the spoo to drop 2 percent. Pulllease!! The market is going to rightly torture all the “johnny come lately” types who join risk-on party late. That is all that is going on here. Enjoy the read below. Good luck trading.
It’s [...]