Full story here from ZeroHedge. An appropriate music choice for the economy.
Sick and tired of CNBC “interviews” in which the speaker is given 15 seconds inbetween commercials to explain why the economy is in the toilet, before another talking head from the dodecabox appears and starts spouting painfully ridiculous things? So are we. Which is [...]
Full story here from Business Insider.
SocGen’s Albert Edwards was out with a note today which is in line with my calls for a marked slowing of the economy toward the end of this year. He indicates that the rate of change in leading indicators in the real economy and in markets are rolling over right [...]
Full story here from Business Insider.
In his latest “Matzoh with Dave” note, Gluskin-Sheff’s David Rosenberg sounds off on yesterday’s weak ADP report:
The U.S. ADP private payroll data showed that 23k jobs were shed in March, the 26th
decline in a row.
That brings the cumulative decline in private payrolls to 8.33
million, which is unspeakable, and at 106.7 [...]
Full story here from Paul Craig Roberts via CounterPunch. Your two possible answers are: 1) No or 2) *&%*$! NO!!!
“Happy news! The government has come up with a 5.9 percent GDP growth rate in the fourth quarter of 2009. The recession is over.
Or is it? Statistician John Williams has informed us that 69 percent of [...]
Full story here from ZeroHedge. I love that sexy Swiss man talking sense.
“Marc Faber discusses America’s unsustainable debt load in this interview with Margaret Brennan on Bloomberg TV. An amusing observation: the GDP growth from each $1 of new total debt has dropped from $0.25 to -$0.60. Also some much deserved Bernanke and Krugman bashing. [...]
Full story here from MarketOracle. I do disagree with 2nd recession, concept. It’s one big fat Depression. We’re probably around 1931 in the Hoover administration, metaphorically speaking.
“Officials at the Federal Reserve System insist that the FED will unwind its more than doubled monetary base. They do not say when. They do not say how. But [...]
Full story here from Peter Schiff via Asia Times.
“Although Barack Obama has refrained, at least for now, from delivering triumphant speeches in a naval flight suit, there is nevertheless a strong tone of accomplishment emanating from the United States president and his deputies.
Over the weekend, top White House economic adviser, Lawrence Summers, even pronounced that [...]
Full story here. This is seriously from the outer limits.
“PLANELOADS OF FOREIGN AUTHORITIES DESCEND ON THE UNITED STATES
At 9:30pm UK time on Wednesday 2nd December, we established as follows:
• Seven aircraft arrived in the pariah United States on this date packed with foreign dignitaries, officials, enforcement personnel, banking and IT experts and World Court officers, [...]
Full story here from Janet Tavakoli. Senor Buffett has officially morphed from folksy avuncular to more of an “Uncle Buck” pederast vampire squid accomplice. Bad day for the Berkshire Hathaway PR types.
“I like Warren Buffett. I even wrote a book about the financial crisis contrasting his principles of prudent finance with recent excessive leverage, bad [...]
Full story here from CounterPunch.org.
“Barack Obama has decided to push the economy back into recession, and no one can figure out why. Perhaps the impressionable Obama has come under the spell of the deficit hawks and crystal gazers who see Armageddon around every corner. Or maybe he’s thrown-in with the snappish Marc Faber whose dire [...]