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Sen. Marco Rubio acknowledged Tuesday on a conservative radio talk show that the Gang of Eight’s comprehensive immigration reform bill won’t likely pass the Republican-led House.
The comments from Rubio, perhaps the most influential congressional Republican on immigration, illustrate the challenges facing the prospects for reform after months of private negotiations by a bipartisan coalition of senators produced a wide-ranging, 844-page bill.
“The bill that’s in place right now probably can’t pass [...]
From John P. Hussman of Hussman Funds:
“The stock market isn’t the only thing that has set records this spring. Barron’s semiannual Big Money poll of professional investors also is setting a record – for bullishness, that is. In our latest survey, 74% of money managers identify themselves as bullish or very bullish about the prospects for U.S. stocks – an all-time high for Big Money, going back more than 20 years.”
“Dow 16000!” – Barron’s Magazine Big Money Poll, [...]
From the department of interesting timing.
This week we saw our first real market rattling in awhile.
Commodities got absolutely hammered, and the renewed deflationary chill law to a series of violent up and down swings, resulting in the worst week in some time.
Also, US data is softening (and things aren’t hot in Europe or China either).
And yet. At least as of very recently, big money managers are bullish on historical levels.
From Barron’s [...]
Billionaire speculator says single currency’s prospects would be better without Germany, the eurozone’s most dominant member
George Soros, the billionaire speculator best known as “the man who broke the Bank of England” in 1992, has launched a stinging critique ofGermany‘s role in the euro crisis and suggested the single currency’s prospects would be improved if its most dominant member were to quit.
In an incendiary speech made on Tuesday afternoon in Germany’s financial centre of [...]
WASHINGTON — President Obama next week will take the political risk of formally proposing cuts to Social Security and Medicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say.
In a significant shift in fiscal strategy, Mr. Obama on Wednesday will send a budget plan to Capitol Hill that departs from the usual presidential wish list that Republicans [...]
China is heading for a social revolution, according to Fidelity fund manager Anthony Bolton.
Mr Bolton is one of Britain’s most famous fund managers, having earned investors in his Fidelity UK Special Situations fund an average of 20pc a year for 27 years.
He stepped down in 2010 to launch a China-focused investment trust for Fidelity, but performance was disappointing.
He is confident of turning around the situation and remains bullish about the [...]
Former US Secretary of State Henry Kissinger has warned that a crisis involving a nuclear Iran is in the “foreseeable future”.
The Nobel Peace laureate, 89, was speaking about prospects in the Middle East at the World Economic Forum.
He said nuclear proliferation in the region triggered by an armed Iran would increase the chances of an atomic war – “a turning point in human history”.
He also urged the US and [...]
Are we heading towards an Economic Collapse? Preparing for Financial Armageddon
Our county sits at over 16 trillion dollars in debt, with unfunded obligations that make the actual debt number about $120 trillion. The reality of the situation is there’s really no way out of the situation. Our government, thanks to both political parties, has spent us into a hole that we cannot dig ourselves out of. The facts, that nobody [...]
from Gold Silver Worlds:
The newest “Thunder Road Report” appeared today. The author Ted Ferguson (associated to Seymour Pierce Equity Research) always succeeds in bringing an well researched message. In his latest edition, titled “Silver: right now (probably) the best asset in the world” he focuses on silver and its prospects.
This newest edition counts some 8 pages goes and the summary invites you to read the whole document:
“For more than a century, the silver price [...]
WASHINGTON — Senior Obama administration officials have agreed that the number of nuclear warheads the U.S. military deploys could be cut by at least a third without harming national security, according to those involved in the deliberations.
Such a reduction would open the door to billions of dollars in military savings, which might ease the federal budget deficit. It also would improve prospects for a new arms deal with Russia before [...]
WATCH: Summary of FSA operation to liberate regime outposts and checkpoints on the Mutahaleq al-Janoubi in Damascus.
Syria’s army has launched a fierce assault around Damascus, blasting rebel strongholds and sealing the main entrances to the capital, witnesses said, as prospects for peace talks dimmed.
Shattering months of relative calm in the capital, Wednesday’s offensive coincided with two suicide car bombings that killed almost 20 members of the security forces in the [...]
by Dr. Ron Paul, The Daily Bell:
President Obama announced his choices for key national security posts this past week, and there has been both celebration and gnashing of teeth in Washington and around the country. There is widespread belief that either or both of these nominees will have an immediate and profound effect on US policy. However, this belief is really just a mistaken over-emphasis on personnel over policy. We should not [...]
from Capital Account:
EU leaders failed to reach an agreement on a budget deal, as wealthier EU countries pushed for more restraint in the proposed 7 year spending plan. Meanwhile UK Prime Minister David Cameron blamed the European Commission for the budget deal break-down, accusing the commission of insulting taxpayers by refusing to accept cuts in its budget or make reductions in staff pay or perks.
He complained that 200 EC staff earned [...]
From FT:
There is nothing better than the widespread perception of a close election for the full spectrum of “experts” to get carried away with what might occur under alternative outcomes. And carried away they were.
Many argued that the two presidential candidates would implement meaningfully different economic policies and, thus, trigger different market reactions. But now that the election outcome is known, it will soon become apparent that the main risk [...]
Yoko Kubota
reuters.com
October 31, 2012
Japan’s Toshiba Corp cut its full-year operating profit forecast by 13 percent to 260 billion yen ($3.3 billion) on Wednesday, saying the uncertain global economy weighed on its prospects.
The company said the continuing European debt crisis, slowdowns in China and India, and a strong yen were combining to “increase uncertainty about the future.”
For the July-September period, Toshiba posted an operating profit of 57.5 billion yen, slightly better [...]
From The Reformed Broker:
I’m going to say this here and now for posterity and I hope you bookmark it:
There’s going to be such a brutal bond investor slaughter at some point over the next decade that the streets of Boston’s mutual fund district will run red with blood, the skies will be shot through with the lightning and thunder of unexpected capital losses and those who manage to survive will [...]
In a debate about who should be commander-in-chief, Mitt Romney was just as much in command as the man in the job now.
President Obama came into the debate with a record to boast of, and he used it to play offense. He poked and prodded Romney, even tried to bayonet him at one point, and sought to lecture his opponent on what it’s like actually to be president.
The president accomplished [...]
J.D. Tuccille|
reason.com
October 2, 2012
Doctor with syringeWhat are the prospects for Obamacare and for American healthcare in general as government “reforms” and increasingly regulates the already tightly controlled industry? To judge by the responses to a survey conducted by the Physicians Foundation and released last week, you might want to front-load your doctor visits, since we’re all likely to find appointment slots in short supply in the not-too-distant future. That’s because [...]
From FT:
Bank profits from new mortgages have soared since the Federal Reserve began its third round of bond purchases two weeks ago, fuelling the debate over the fallout of the latest dose of quantitative easing.
The extent to which QE3 drives down new mortgage rates and helps homeowners or is pocketed by banks will be crucial to the success of the policy and the prospects for growth in the US and [...]
Newly founded party of the Austro-Canadian entrepreneur Frank Stronach has apparently prospects to move in the general election next year in the Vienna parliament. According to a poll published on Thursday in the newspaper “Der Standard”, 50 percent of respondents stated that they wanted to party….
http://www.faz.net/aktuell/politik/ausland/oesterreich-milliardaer-gruendet-eurokritische-partei-11906349.html
NEW HAVEN – Recent indications of a weakening global economy have led many people to wonder how pervasive poor economic performance will be in the coming years. Are we facing a long global slump, or possibly even a depression?
A fundamental problem in forecasting nowadays is that the ultimate causes of the slowdown are really psychological and sociological, and relate to fluctuating confidence and changing “animal spirits,” about which George [...]
Sept. 11 (Bloomberg) — David Rosenberg, Chief Economist at Gluskin Sheff & Associates, talks with Bloomberg’s Tom Keene about the prospects for quantitative easing from the Federal Reserve and the price of financial repression. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”
HOW DO AMERICANS FEEL ABOUT THEIR JOBS?
YAHOO! FINANCE AND PARADE CAN TELL YOU: JOB HAPPINESS SURVEY REVEALS THAT …
• 56% of Americans Would Choose a 5 Percent Raise Over More Vacation
• 59% of Americans Would Choose a Different Career
• 53% of American Workers Have Three Months of Savings or Less
New York & Sunnyvale, Calif., August 29, 2012 — PARADE Magazine teamed up with [...]
by Tony Cartalucci
August 25, 2012
War, economic collapse, and personal devastation await Americans no matter who they vote for – and what we should do instead.
A vote for Obama will bring war with Syria, Iran, and eventually Russia and China. The economy will continue to suffer in order to bolster the interests of off-shore corporate-financier interests, while the collective prospects of Americans continue to whither and blow away. A vote for [...]
From Dividend Growth Investor:
I often speak with investors who want to retire at some point in their lives.
Unfortunately, we live in a world, where companies offering traditional pensions are shrinking in number. In addition, there is little assurance about the [sustainability] of the Social Security Fund. Add in uncertainties about potential inflation due to the Fed’s printing presses, low interest rates on fixed income, and a decade of zero stock [...]
Athens (dpa) – Greece is facing its last chance to remain a member of the eurozone, the chief of the Eurogroup said Wednesday as cash-strapped Athens pledged to implement a new round of tough budget cuts needed to secure fresh financial aid.
Jean-Claude Juncker was speaking in Athens after talks with Greek Prime Minister Antonis Samaras that are likely to set the stage for a critical few weeks for Greece and [...]
Citi has long been among the most bearish banks on Greece’s prospects of staying in the euro, and now they’re getting even more specific and dire in their forecasts.
In a new note out today that’s hitting with a thud, analyst Michael Saunders writes:
We continue to expect that the EMU crisis will persist, with prolonged economic weakness — especially in periphery countries — and further periods of intense financial market stress. [...]
They’ve generated billions for investors over the decades. But according to Warren Buffett’s latest moves, the party is winding down for three of America’s best-known – and widely held – cash cows.
According to the most recent filings, Berkshire Hathaway (BRK-A) is trimming its positions inJohnson & Johnson (JNJ), Procter & Gamble (PG), and Kraft Foods (KFT).
Why has the Oracle from Omaha begun to unload these iconic shares?
Buffett is notoriously optimistic when it comes to American stocks, especially [...]
The Financial Times’ Jack Farchy writes that the price of tea has surged 41 percent this year to surpass $4 per kilo as drought conditions sweep over major tea producing countries.
“Dry conditions, poor rains and frosts have hit tea production in Kenya, the largest exporter of black tea. A bad monsoon has reduced production prospects in India and Sri Lanka, two other major exporters.”
The last time prices were this high was in [...]
Reuters: Labor market slowed sharply after strong gains in winter, spelling trouble for Obama
THEY BOTH CANT BE RIGHT:
WASHINGTON (Reuters) – U.S. employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent could keep prospects of further monetary stimulus from the Federal Reserve on the table.
AP: Stronger job creation could help Obama’s re-election hopes
WASHINGTON (AP) — U.S. employers added 163,000 jobs in [...]
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