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I expect this from CNN, the world is burning around us while mainstream media is telling us we are doing great! (CNN) – As the stock market continues to show record highs, the number of Americans who say things are going well in the country has reached 50% for the first time in more than six years, according to a new national survey. But that doesn’t mean the country is entirely out [...] from FT: Beyond the headline-grabbing combination of a penny off a pint of beer and the partial creation of a British variant of Fannie and Freddie, there is a deeply-disturbing subtext to the fiscal arithmetic in Wednesday’s UK Budget. It reflects an admission from the Office for Budget Responsibility that the underlying growth rate of the UK may be weaker than had been previously assumed. True, the OBR’s central projections contain the [...] from FT:
Beyond the headline-grabbing combination of a penny off a pint of beer and the partial creation of a British variant of Fannie and Freddie, there is a deeply-disturbing subtext to the fiscal arithmetic in Wednesday’s UK Budget. It reflects an admission from the Office for Budget Responsibility that the underlying growth rate of the UK may be weaker than had been previously assumed. True, the OBR’s central projections contain the [...] February Inflation Rises By Most In One Year; Empire Fed Misses Even As Optimism Rises To Highest In 12 Months Following last month’s surprising surge in the Empire Fed [7]from a deep negative number to 10.04, the March print was less exciting, declining modestly to 9.24, on expectations of an unchanged number. The new orders and shipments indexes remained above zero, though both were somewhat lower than last month’s levels, dropping from 13.31 [...] From this morning’s Cashin’s Comments: Déjà Vu, All Over Again – As media pundits trip over each other talking about the “longest equity bull run since….”, we may all be losing perspective amidst the happy hype. In his wonderful evening wrap-you for clients, the ever-alert, Dan Greenhaus, restored a little perspective to where we are. There has been endless chatter about the terrific start to the year, about the great rotation and about growing [...] By Paul B. Farrell, MarketWatch
Yes, March Madness. Ride higher? Take profits, bail? That’s the big question America’s 95 million investors are asking. We called the bottom at 6,547, a new bull in March 2009. Market’s been up over 100% since. But big risks ahead: Stick or bail? Bet you’re maxed out on all the contradictions from Wall Street noisemakers. So let’s get some advice from four unconventional sources. First, start [...] 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. http://www.cnbc.com/id/100522542 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 [...] For all the groundless, starry-eyed optimism permeating Europe’s bureaucratic corridors of the fading oligarchy these days (because this time is not like every other time that, too, was different), there has always existed one sure, never-fail antidote: Germany, which without fail has managed to ground Europe any time its delusion of grandure hit escape velocity. Sure enough, while all the statist soothsayers who threatened with armageddon if the outcome of the [...] From The Reformed Broker: … One factor we contribute to the S&P 500′s 13% rally from its November low is a positive feedback loop. Specifically, the initial price surge off of the mid-November low, catalyzed by a belief that a year-end budget agreement would occur, turned a mixed sentiment setting increasingly optimistic and roused additional gains as new longs entered the market. These additional gains subsequently incited more optimism and yet another [...] By Dr. Constantin Gurdgiev Germany’s CESIfo published the latests (January 2013) assessment of the state of the German economy in Manufacturing and these are slightly more upbeat than at the end of Q4 2012, albeit with some clear seasonal supports. “In manufacturing the business climate indicator continued to rise. Manufacturers are more satisfied with their current business situation than last month. The improvement in expectations with regard to future business developments continued into the New [...] from KWN: Today Egon von Greyerz told King World News he is now seeing massive shortages of silver. Greyerz went on to warn about a frightening series of global storms which are set to collide, which will create an enormous hurricane in 2013. He also spoke about gold and included a tremendous chart that all KWN readers will want to see.
Here is what Greyerz, who is founder of Matterhorn Asset Management [...] streettalklive.com / By Lance Roberts / The release of the National Federation Of Independent Business (NFIB) Small Business Survey for December was much like the report we discussed in November. In short – there were very few positives to be found.
According to the NFIB survey optimism among small businesses crept higher by 0.5% over November’s historically low report with a reading of 88.0 which is the second lowest reading since March of 2010. This poor [...] from Fox Business, via Eduardo89rp: zerohedge.com In many respects, 2012 was a year of waiting: waiting for a path forward on the European debt crisis; waiting for the results of a polarizing U.S. election; waiting for the Chinese leadership transition; waiting for a resolution to the U.S. fiscal cliff issues; waiting for the Middle East to find peace; waiting for a clear path to global growth; and therefore, waiting to invest additional assets in the markets (or [...]  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 [...] It’s not even 6 pm yet (futures open time) and all that early optimistic momentum hard procured by splinter GOP Senators, is slowly but surely, being extinguished. Enter Dick Durbin, the second ranking Senate democrat: Even if budget agreement to avoid fiscal cliff is reached today, it would be tough to “put it together this evening,” Sen. Dick Durbin, D-Ill., tells CNN. Ed Pilkington International Monetary Fund chief Christine Lagarde has warned the US it has the potential to be its “own worst enemy” over the fragile economic recovery and that failure to reach a comprehensive settlement over the fiscal cliff could see growth plummet to zero. In forthright comments over the impending fiscal cliff, the IMF managing director said that “if the US economy was to suffer the downside risk of [...] from silverdoctors: FutureMoneyTrends has released a MUST WATCH one on one interview with Shadow Stats’ John Williams discussing the Obama administration’s blatant manipulation of the unemployment numbers, and the coming hyperinflationary economic collapse. Williams states that hyperinflation is just around the corner, and that “The President and Congress you have now is the one that will see hyperinflation, we will not have another election to fix this.” Full interview below: Part 2
Aiming to boost gold reserves, China [...] from Zerohedge: The remarkable forecasting skills of the Troika and the immense decisions being taken on the back of these ‘sacrosanct’ projections need to be put into context. We are more than happy to do that… as the chart below shows, so far so bad as the Troika has pretty much nailed it on the ‘most optimistic mean-reverting model’ ever. Not wanting to steal the jam from Europe’s donut but the forecasts [...] From The Project to Restore America: The U.S. government announced last week that gross domestic product grew in the third quarter at an annualized rate of about 2 percent. That’s hardly vigorous growth, but considering the previous quarter’s annualized rate of 1.3 percent, the news was received with optimism. But optimism is unwarranted. As the U.S. Commerce Department’s Bureau of Economic Analysis explained: “The increase in real GDP in the third quarter [...] From Zero Hedge: Obama/Romney, Romney/Obama – the most important election of our lifetime? Fact is, they’re all the same – bought and paid for with the same money. Ours is a country of the SuperPAC, by the SuperPAC, and for the SuperPAC. The “people” are merely election-day pawns, pulling a Democratic or Republican lever that will deliver the same results every four years. “Change you can believe in?” I bought that [...] There’s A Troubling Dynamic Developing In The Market For New Homes … Both Goldman Sachs and JP Morgan have published long lists of reasons to be bullish about housing. But when you start pairing the data together, you start to see warning signs you would’ve learned about in economics 101. Specifically, you’ll see signs that supply is outpacing demand. In the wake of yesterday’s huge housing starts report, Wall Street Examiner’s Lee Adler noted that starts appeared to be outpacing sales. TD Securities economist Millan [...] |
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Impending Stock Market Crash: Time Is Short, Too Many Problems To Solve. The Fiscal Cliff Negotiations Are Failing. If US Can’t Avert Fiscal Cliff, Everything Will Collapse!
IMF Chief Christine Lagarde Warns U.S. of Worldwide Effects of Fiscal Cliff
from Guardian.co.uk:
International Monetary Fund chief Christine Lagarde has warned the US it has the potential to be its “own worst enemy” over the fragile economic recovery and that failure to reach a comprehensive settlement over the fiscal cliff could see growth plummet to zero.
In forthright comments over the impending fiscal cliff, the IMF managing director said that “if the US [...]